Driving a successful web3 Product Hunt launch

Driving a successful web3 Product Hunt launch
Maxim Bernard
Driving a successful web3 Product Hunt launch

One week ago, Multis launched on Product Hunt. Over the course of the day, we gathered more than 1200 upvotes — an amazing launch for a web3 company that historically don't gather many upvotes (eg: MoonPay with 1300 upvotes). Nothing was left to luck: we prepared for 3 weeks before the launch, which was crucial in our successful management of inflow on D-day.

Launch day on Product Hunt is truly a team effort, and can have a huge impact on your business and acquisition metrics. It's also a great opportunity to have the whole team unite over a single goal for a days time.

The web3 vertical on Product Hunt was only created in April of 2022, so products that used to be quasi-invisible are now being pushed forward.

What is Product Hunt and why should you launch?

Product Hunt is a huge community platform on which people give feedback on new products. It's often used for companies to showcase what they built and gather quality feedback from product aficionados in the tech space. These companies have one of two goals in mind: validate product value proposition or boost conversion metrics (eg: acquisition, traffic, sign-ups, etc).

However, a launch on the platform is beneficial on various other fronts. On top of the goals established for your Product Hunt launch, having a successful one can bring massive brand legitimacy, boost SEO and offer networking/partnership opportunities.

Over the past few years, the number of companies launching on Product Hunt has been growing exponentially, which has made them need to build an algorithm to guarantee ranking fairness. As on YouTube, Instagram, Tiktok and other social platforms — users have been trying to decypher the way it works. Here's an interesting article on it from Patricia, cofounder @ Kairn.

Our experience: do's and don'ts

This product launch was the culminating point of several months of building, so we wanted to showcase it while making it understandable for all.

We're first movers in the web3 treasury management industry, and released corporate cards and spending management tools for companies with crypto treasury — therefore bridging the gap between traditional finance and DeFi (Decentralized Finance).

Making DeFi accessible to all is the first challenge we're solving. Making masses understand it is another challenge we haven't entirely solved yet. And Product Hunt is a proxy to move in that direction.

In the midst of our product revamping and landing page redesign, we decided to launch Product Hunt as an initiative to boost acquisition, traffic and consolidate branding.

Here are some of the elements that made our launch successful:

  • It's hard to appeal to a large panel of users in web3. People are unfamiliar with the jargon used, and it can easily seem foreign. Whenever possible, avoid the use of technical jargon — that will immensely help reach organic growth on your launch page (sometimes applicable to your product as well).
  • Every bit of content, communication or tracking must be written/setup and taken care of before launch. Technical difficulties will take your attention away from the goal on D-day, and you don't want to be distracted.
  • Team coordination — making it clear to the team that the launch is a key contribution to the growth of the product's user base, and essential to build brand identity. Therefore, in order to make the most out of it, the whole team should take time (in our case, half of the day) to generate traffic to the page.

We also made a couple mistakes (heads up for those of you planning to launch soon):

  • Take a look at who is launching on the same week as you are. Ideally, avoid launching on the same day as the big fish (eg. Notion). In our case, we launched on a Wednesday, and were unfortunate that 4 other Products were able to gather 2K+ upvotes.
  • The team at Multis is very connected. During the day, we were pushed by a web3 influencer on Twitter, which generated a ridiculous amount of affluence to our Product Hunt page, and a of newly created accounts upvoting and commenting on our launch:  huge red flag for the Product Hunt algorithm (oops).
  • Understand how to post a Product and the relationship between Hunters/Makers/Owners

Key takeaways:

There are different aspects of your business that will make the impact of your Product Hunt launch more or less hard to measure.

For example, the impact can be drastically different depending on the nature of your business:

  • For a B2C business, the impact of a successful launch can be very tangible, and often translates to direct conversion.
  • On the other hand, B2B businesses have longer sales cycles with many points of contact within the organization, therefore making the conversion longer and often indirect.

The complexity of integration of a product/migration is also something to measure in that regards, and can make launch impact even more abstract.

And many more...

In our case, if we take the examples above, we offer a B2B product which is in essence a banking product — natively the most complex aspect of a business to migrate. So how did WE measure the impact of our launch?

Before launching, we had set a success metric that was based on the number of sign-ups and traffic on our website. Did we reach the goal we had set? Not exactly. But it wasn't the most valuable thing that we gathered from the launch.

In our eyes, the single thing that stood out from the launch was the amount of genuine curiosity from the Product Hunt community, and the praise from our current users. Throughout the day, we were able to gather quality feedback on the features Multis is developing, which helped us grasp a better sense of what the expectations were from our key audience.

For a company trying to drive sales and conversion on top of everything, our launch would have been somewhat deceiving.

For companies like Multis that are working heads over heals on product development, there's nothing more valuable.

So if that's your case, go for it too!

In a nutshell: if you nail (1) goal definition and tracking, (2) content & launch prep, (3) execution and network reach-out on d-day — there's absolutely no doubt your launch will succeed.

And of course, feel free to reach out to me if you have any questions regarding launching on Product Hunt!

Honorable mention:

Smoothie.so is an up and coming alternative for web3 products → keep an eye out for our launch there soon.