Web3 Marketing Case Study #2: Aura Network - Lunar New Year Fomo
Aura Network - another rising star that recently made a splash during the Tet holidays with a 3-day insane social presence. Let's take a look at how Aura Network managed to create such hype!
Disclaimer: This post is written from the perspective of a Web3 learner who primarily has a background in marketing. The opinions expressed are my own, and I am open to corrections
The Li Xi Airdrop from Aura Network gained attention from Vietnamese people during the Tet holidays. The campaign received holy traction on social media, with the Official post reaching approximately 435K views, 35K likes, 72K retweets, and over 4K comments.
However, due to the overhype, the campaign was temporarily closed.
For me, the result is a desire for mid-scale projects like Aura, which features a strong team of experts in social media management and campaign design.
Let's analyze the factors that contribute to this hype:
Storytelling
Yes, you did not hear it wrong. The airdrop was not just a plain “money-giving” thing. Instead, it was called "Li xi", a tradition during the Vietnamese Tet holidays. This made the prize, although not substantial, still cherished and meaningful since Li xi is always considered a symbol of luck and well wishes at the beginning of the year (Airdrop = Li xi, lol!).
Moreover, the recipients can also give their loved ones an "Airdrop Li Xi" thanks to the special campaign mechanism (which will be discussed after this).
Combining these two actions (receiving an airdrop from Aura and airdropping another Li xi to loved ones), conveys the message of transforming the way Li xi is given in a Web3 style, marking the first-ever Web3 evolution of this tradition.
Last but not least, users can also receive "Dragon Gems" through Li xi, which promises to be the key to more adventurous journeys in the Year of the Dragon.
The mechanism (Game-changing factor)
The overall rule:
This is the best part that made the airdrop go viral: the mechanism. There were three different types of Li xi: Red, Blue, and Yellow.
Note from Aura Network: The fortune number is somewhere on your X, your circle, or other community channels.
Details of the campaign (including the rule): Here
Technically, everyone is eligible for the airdrop, but they need to find a referral code, also known as the genesis code or lucky number, to access the portal.
How this code works:
The genesis codes were initially sent to community leaders, who will handle the distribution.
After using the code to access the portal, users will be generated 5 more codes in the system. With these generated codes, they can invite their friends to join the Airdrop, and both will receive an additional Li xi.
Saw the fun part? Yes, in this mechanism, everyone becomes a factor in making the campaign go viral by sharing their lucky numbers and reposting the post to receive more envelopes.
Let's get more specific. The Genesis fortune numbers reached 10 people, and each of them received their own codes to send to 5 more recipients. These recipients then used their codes to invite another 5 recipients... and the cycle continued.
Now you do the math.
Accurate TA choosing - KYC
Know your customer (KYC) is one of the key factors in any campaign. It is important to define who your customers are, what language they speak, and what they want. Once a persona for your customer is defined, the campaign is already 60% complete.
“Until you understand your customers – deeply and genuinely – you cannot truly serve them.” – Rasheed Ogunlaru
In this case, we can sketch Aura's TA as Asian, specifically Vietnamese, who celebrate Tet. This means they are off from work during these holidays. The TA is divided into three groups: Airdrop farmers, NFT investors, and retailers.
*Remember in the Sei Marketing Case Study, Sei chose to kick off their campaign during Christmas (which is a big holiday for Westerners).
From that, all the genesis codes belong to Asian-based communities and KOLs. They're also divided into 3 groups:
Airdrop: GEM insight, 1z Hunter, etc.
NFT: Quillix, NFTHunterClub, XomNFT, etc.
Retailers: TradecoinVietnam, HC Capital, etc.
This is because their TA might know what Tet looks like and have enough time to "farm" the Li xi.
Market Timing
Perfect Timing
As mentioned earlier, one of the key factors that contribute to a successful campaign is market timing. This time, the Aura team made a wise decision by choosing to kick off the campaign on Lunar New Year's Eve, a period when mini bulls often occur (1-2 days before or after).
From the BTC/USDT chart above, you can see that during the most hyped time of the campaign (10th Feb - 13th Feb), BTC experienced a 10% increase, which made the busiest man on Earth must scroll up on Twitter to see what just happened.
And boom, their attention might be caught by the airdrop's viral mechanism when everyone retweeted to receive the envelope.
Why does market timing matter?
From my last takeaway: “The cryptocurrency industry is a different dimension from traditional fields since the market timing matters. The market greatly influences your campaign's success. If the market is driven by greed (at the bull market), your campaign is more likely to succeed. Conversely, during a bear market or winter, your campaign may not receive much attention.”
Clever Hinting
Above all else, the Dragon Gem (NFTs received from the envelopes besides AU 0.00%↑ RA) is said to be used in future campaigns.
“...Thus began an epic journey as courageous adventurers set out to unlock the gem's secrets, ushering in a year filled with mythical quests and adventures.” - From Aura’s blog
This triggers people's curiosity, as they expect to get more from the NFTs. Therefore, some are willing to receive the gems rather than AURA 0.00%↑ .
In the "Airdrop-driven" season, it’s the hope that fuels people's greed, not the prize.
Subtle Rebranding
This campaign is also the reason for Aura to subtly change its new look (New branding kit). Aura Network didn't need to make any announcements. Instead, they subtly placed the new logo in the campaign announcement and then changed all of their websites and branding to the new kit.
IMO, I believe that is also a reason why people are bullish on AURA 0.00%↑ . This is because, in the past, projects undergoing rebranding often saw a big pump. Let's do some research on GIFTO, Kepple, etc., to understand what I'm referring to.
Aura Network’s new website (I love the new color lol!)
Key Takeaway
1) Timing is important, agree or disagree
I have to repeat it three times. Crypto is another dimension, and timing gains you a higher percentage to capture people's attention!
Read more about how market timing made Sei viral
2) KYC - Know Your Customer
Until you understand your customers – deeply and genuinely – you cannot truly serve them. – Rasheed Ogunlaru
Before coming up with any ideas, solutions, or campaigns, it is essential to define your target customers. By doing so, you can understand their pain points, align yourself in the right direction, and choose appropriate communication methods.
3) Stories drive customers in your direction
Believe it or not, stories are the driving force behind the success of crypto in many seasons. When zooming out, stories shape users' expectations of events such as BTC halving, BTC fork, ETH propose, BTC ETF, and ETH ETF, etc.
Therefore, selecting an intriguing story for your campaign can pique people's curiosity and greed.
4) Hope is more important than the prize
This is what I have recently realized: “Crypto sells people's hope.”
Everyone comes here with the hope of becoming rich, embracing new futures, and having a 100x token in their bag...
Based on that, I recommend putting some "hopium" into your campaign. Consider offering a chance to win a "lottery ticket" (a big prize), a ticket to another event, or something that can lead to another something...
That's it! While there are many factors contributing to the success of a campaign, these four pillars are crucial (IMO). If you believe there are additional factors that I haven't mentioned in this blog, please leave them in the comments below. I would love to hear more!
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Justin - life-long learner!
great works thanks for sharing n congrats!!