If your business model includes multiple actors, begin by identifying your customers not users
If your business model includes multiple actors, begin by identifying your customers not users
To be successful and profitable in the metaverse and web3, you must strike the right audience balance! There are numerous factors to consider, but it is all too common to overlook the significance of differentiating between customers (or early adopters) and users (or big market opportunities).
Customers are those who pay for your service, solution, or product. They are your bread and butter, and it is essential to keep them happy. Users, on the other hand, do not pay for anything. They may use it for free or may even be unwilling to convert to a paid customer in the future.
It is important to focus on your customers and give them the best possible experience. On the flip side, it is also important to consider how to attract and keep users. After all, they are the ones who will help to spread the word about your company and bring in new customers. For example, in a metaverse search engine, the customer is the advertiser or virtual world (The Sandbox, Decentraland, and Roblox), whereas users are people who run searches of all the active events in the metaverse. They will also be able to find other users on a variety of virtual platforms and help spread the word about your company based on their positive user experience.
With that in mind, it’s also important for an entrepreneur or business to find the right balance between optimism and pragmatism. If a business is too optimistic, it may come up with a product that no one wants. If they’re too pragmatic, they may fail to invest in the right product to generate revenue. Maintaining your focus on both will help you succeed, and if your business model includes multiple actors, begin by identifying your customers.
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