User Generated Content has been around for a while unbeknownst to the average person, but over the last few years it has stepped into the limelight (and onto forefront of our screens), and given brands a new avenue to build trust with their audience and drive sales.
Bu what exactly is it?
What is User Generated Content (UGC)?
User Generated Content, referred to as UGC, is a form of content generally created by individuals (consumers or influencers) who fall within a brand’s target audience, which showcases the product or service at hand. Having individuals create organic content around the product subliminally builds trust, as users are seeing others in a similar position to them benefitting, rather than having ads shoved down their throat — it’s almost like a real life trust pilot review! Building that trust and rapport with customers should always be a priority, and User Generated Content opens up another avenue for that.
But how can this benefit the Web3 space? Web3 is not perfect, and there are issues which need to be and are being solved everyday, but there is one overarching issue that can be mellowed with User Generated Content
Education in Web3 can refer to many things, specifically here, i am referring to using Web3 applications.
Understanding Web3 applications is by no means as easy as your ABC’s, it can look daunting and scary to new users. Complex processes and (in some cases) UI pose as roadblocks on the journey mass adoption. Online banking is still a hassle for some people, imagine how they’d feel trying to navigate the world of DeFi!
Technical language is used all over websites and white-papers to highlight the intricacies and level of the technological innovation, and is obviously aimed at those in the know, but what about the other 95% of people who aren’t? Of course people should put the time to understand how things work, theres never a free lunch, and User Generated Content could have a vital role here.
The Long Run Opportunity
By creating content, such as a video, highlighting certain pain points in an easy to digest manner, could help close the education deficit, and demystify the complexities in Web3, and build trust with non-Web3 natives.
Lets set the scene:
Here’s Jason, 27 years old, trying to figure out his life and get his finances in order, he understands that decentralised finance provides an outlet to diversify your holdings and want a piece of the action, but he isn’t very technologically savvy and find the space daunting due to the common perceptions of crypto and what he’s heard from others who may have got burned.
He starts researching which wallet to use and how to use them, but there are too many options, doesn’t understand much about the tech, and feels one wrong move could be costly. Feeling overwhelmed, he finds solace in TikTok and suddenly a video appears, a 1 minute demonstration on how to set up your wallet and how to transfer assets safely, done by another young professional who had struggled with his exact problem.
Not only does he feel more comfortable taking on the task, as you have found a wallet that is easy to set up and used by others in your demographic, but now you have more trust in the space and the brand.
In the case for Web3, UGC content could hit like a double barrelled shotgun. One shot to breakdown the barriers of complexity, by creating valuable pieces of educational content, and giving confidence to news users to use web3 apps. The 2nd leverages that to build rapport and trust with users, and authority in the space.
Building trust is probably the key element here, over the last year we have had our trust broken by many a big player in the space, and it takes time for something as fragile as that to be built back up. By creating content relating to a common pain point, you build up that trust, as it shows you understand what issues users are facing. A study by TurnTo Networks, 73% of consumers felt that User Generated Content created more confidence in their purchasing decisions, which portrays this quite nicely.
There are a myriad of different topics that can be explored using UGC, and here are a few:
- Setting up hot and cold wallets
- Reviews on different wallets
- How [X] technology works
- How to bridge assets cross-chain effectively
- How to use block explorers
- how to use [X] protocol.
The list can go on. There are many areas in Web3 which can be addressed via UGC content, and brands that address issues faced by users, will have a higher chance of building that trust with their audience in the long run
UGC can take on many forms and be displayed in many channels and so for those who think it is solely attached to e-commerce products on TikTok, you are gravely mistaken! Even something as simple as engaging with your twitter followers regularly through polls can be considered UGC.
There are definitely many benefits of User Generated Content in Web3, and I personally believe we will see more on the road to mass adoption of the technology. It’s a great way to build trust and engage with your audience, and those who are sceptical with the space, and should not be overlooked!
I hope you enjoyed this small piece, and as ever if you found it added any morsel of value to your life, give it a share! Many morsels can feed a family!
At GeloCubed we are always happy to chat, and if you are looking to build that trust between you and your audience, get in touch, we’d love to help!