Jackson Rodriguez: CEO of Web3 CRM Provider 3RM Discusses Business Development Strategies

The decentralized web, or Web3, is often touted as the future of the internet.

With its emphasis on community ownership and decentralized governance, it has the potential to create a more equitable and open online experience. However, despite its potential, the current state of business development in the Web3 ecosystem is facing a number of significant challenges.

Indeed, from a lack of clear revenue models, to the difficulties in user acquisition, the Web3 space is still in its early stages and has a long way to go before it can fully realize its potential.

We sat down with Jackson Rodriguez, founder and CEO of Web3 CRM provider 3RM, to explore some of the key shortcomings of business development in the Web3 space, and discuss what steps need to be taken to overcome these challenges and create a thriving decentralized ecosystem.

Our discussion with Jackson Rodriguez is shared below.

Crowdfund Insider: What are the most significant shortcomings in Web3 business development?

Jackson Rodriguez: The rise of blockchain technology and decentralized systems has revolutionary potential across so many industry verticals. And yet, many businesses are struggling to implement effective business development practices.

There are multiple reasons for this. One of the biggest challenges is the gap in understanding between Web3 solutions and the Web2 businesses that could benefit from them. This means that while some traditional business development practices may still apply in some cases, new approaches that involve a higher level of client education are often necessary. And ultimately, this knowledge gap will require businesses to adapt and develop new skills, which can be a slow and difficult process.

Another challenge is the fragmented nature of the Web3 ecosystem. The industry’s fully remote, global culture is a beautiful thing – but it can also make it difficult for businesses to connect with potential partners, customers, and users. And unlike many Web2 industries, there is no single platform or marketplace where businesses can connect with their target audience, which can make it challenging to build meaningful relationships and drive growth.

The decentralized nature of Web3 also means that many of the traditional options for monetizing products and services may not apply. This can make it challenging for businesses to generate the revenue they need to sustain and grow their operations.

But many of these challenges are also opportunities. Effective educational marketing can build strong relationships with clients; Web3’s global culture can be a source of connection rather than fragmentation. And the revenue models that decentralized tech can support can be even more fair and lucrative than existing models.

We also have a unique opportunity to build BD practices and tools that embody Web3’s core values of privacy, autonomy, and decentralization. While Web2 CRM tools harvest and store vast amounts of personal and private business-related data in centralized locations, Web3 tech can enable CRM tools that allow everyone to have control over their data and privacy while supporting sales teams to be more effective in their processes.

Crowdfund Insider: How will having the right business development practices in place impact blockchain adoption over the short and long term?

Jackson Rodriguez: In the short term, the most important effect that effective business development practices will have in the Web3 space is to help to increase awareness and understanding of blockchain technology among businesses and consumers, as well as drive adoption of decentralized solutions and services.

In the long term, the right business development practices will be critical in creating a strong and sustainable ecosystem for Web3 to flourish in. They will help companies build and maintain strong relationships with partners, customers, and users, and to develop new revenue streams and business models that are better suited to the decentralized environment. As a result, businesses will be better equipped to thrive in the Web3 era, driving further growth and innovation in the space.

Overall, having the right business development practices in place is a key factor in the successful adoption of blockchain technology and the growth of the Web3 ecosystem.

Crowdfund Insider: What are some of the most important BD practices that Web3 can adopt from Web2? What are some of the practices that should stay in the past?

Jackson Rodriguez: There are many business development practices that need to be left in the past. Data centralization, closed-source development, and a disregard for user privacy are antithetical to Web3’s core values.

That being said, there’s no need to throw the baby out with the bathwater. After all, the core tenets of business development will always be focused on creating and maintaining a competitive advantage for a company. Therefore, Web3 can benefit from Web2’s focus on user-centered design, user education, and easy onboarding, in addition to:

Market research and analysis: Understanding the market and consumer behavior is crucial to make informed decisions about product development and sales strategies.

Networking and partnership building: Building strong relationships with other businesses and organizations can open up new opportunities for growth and collaboration.

Strategic planning and execution: Developing a clear strategy and executing it effectively is essential for success in business development.

Product and service development: Offering unique and valuable products and services is the foundation of any successful business.

Sales and marketing: The ability to effectively market and sell products and services is crucial to the success of any business.

Innovation: Staying ahead of the curve by continuously innovating and adapting to change is key to staying competitive in a rapidly changing market.

Customer focus: Understanding and meeting the needs and wants of customers is crucial for the success of any business.

Ultimately, the practices that Web3 should adopt are those that align with its core values and goals – particularly, privacy.

After all, there is so much nuance in privacy around communications. The guiding principle that we at 3RM always follow is to work in the best interests of our customer’s customer – and by following this, business development tools and practices can be developed with full protection of user privacy based on their preference, while still enabling teams to have better sales operations.

The bottom line is that there is tremendous potential for businesses that can effectively navigate the Web3 landscape – from new revenue streams and increased customer engagement to new forms of collaboration and partnerships, and beyond.

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