Social media marketing has seen significant growth over the years, but it hasn't been without its flaws. Many marketers have developed bad habits like low-quality engagement farming and over-reliance on social media advertising.
Farcaster, a decentralized and permissionless social network, tends to change these practices for the better.
The problems with traditional social media marketing
Low-quality engagement farming
Engagement farming refers to creating content designed solely to generate likes, shares, and comments without providing real value. Examples include clickbait headlines and sensationalist posts. This approach can temporarily boost engagement metrics but often leads to a decline in brand trust and a poor user experience.
Inefficiencies in social media advertising
Social media advertising has its benefits but also significant drawbacks. Marketers often rely too heavily on targeted ads, raising privacy concerns and causing ad fatigue among users. As people become better at ignoring or blocking ads, the return on investment (ROI) diminishes.
Introduction to decentralized and permissionless social media
What is decentralized social media?
Decentralized social media platforms operate without a central authority, giving users control over their data and interactions. These platforms are permissionless, meaning anyone can join and participate without restrictions. The benefits include enhanced privacy, data ownership, and a more user-driven environment.
Farcaster as a case study
Farcaster is a prime example of decentralized social media. Built on the principles of user control and open participation, it offers a refreshing alternative to traditional platforms. Farcaster's unique features, like in-frame minting for NFTs, differentiate it from other social networks.
How Farcaster is changing the game
Authentic user engagement
On Farcaster, engagement is driven by community interests rather than algorithms. This fosters real conversations and interactions. Marketers can create content that genuinely resonates with the community, leading to more meaningful engagement. For example, rather than chasing viral hits, focus on content that sparks real discussions.
Here is a recent authentic content from @dwr, on of Farcaster founders.
No engagement request, just genuine advice sharing. 4h after the cast, it already had 393 likes.
As the feeds, and trending views are client-side decisions, and anyone can create a client, the more decentralised the network will be, the more algorithm plays will fail.
Quality over quantity
Farcaster emphasizes quality over quantity. Instead of creating numerous low-value posts, marketers should aim for high-quality content that builds long-term relationships. This approach is more sustainable and effective in the long run. Examples of strategies include detailed guides, insightful articles, and interactive content that encourages user participation.
The user experience offered by frames make you able to keep your target attention for a longer time, and gain interactions without leaving the feed.
Practical steps for marketers
Adapting to decentralized platforms
Transitioning to decentralized platforms like Farcaster requires a shift in strategy. Marketers should focus on community engagement and authenticity. Understanding the platform's culture and user behavior is crucial. Tips include actively participating in conversations, respecting user privacy, and providing value without being intrusive.
It is also important to note that Farcaster values individuals over entities. Personal social media figures for brands will get more impact than brand account. Here is an article focused on brand presence on Farcaster.
Understanding your audience
One of the significant benefits of decentralized platforms is access to the entire social graph. This allows marketers to gain deeper insights into their audience. With a comprehensive view of user interactions, you can better tailor your marketing strategies. This approach enhances targeting and improves the relevance of your content.
Reduced reliance on ads
With decentralized platforms, there’s less emphasis on traditional advertising. Instead, the focus shifts to value-driven content. Potential new revenue models include direct user support, such as subscriptions or NFTs. By providing genuine value, brands can build stronger relationships with their audience without relying heavily on ads. For more on shifting away from ad reliance, see [this article](https://hbr.org/2020/03/rethinking-digital-marketing-for-the-subscription-economy).
Creating value-driven content
Creating value-driven content is key to thriving on platforms like Farcaster. Focus on authenticity, quality, and community engagement. Look at successful decentralized marketing campaigns for inspiration. Case studies can provide valuable insights into what works and what doesn’t in this new landscape.
Conclusion
Farcaster and similar platforms are reshaping the landscape of social media marketing. By addressing issues like low-quality engagement farming and over-reliance on ads, they offer a more authentic and effective way to connect with audiences. Marketers should explore these new opportunities to stay ahead in the evolving digital world. Engage with these platforms, learn their nuances, and adapt your strategies to build a more genuine connection with your audience.
For further insights and to discuss how you can leverage these changes, feel free to reach out. Let's explore how decentralized social media can enhance your marketing efforts.
