I’ve had the privilege of working with organizations on their communications strategies for more than 10 years now. More recently, I have been learning and working in the blockchain and web3 space. I’ve realized how hard it is to really nail a pitch deck. If at the end of your presentation your audience is uninterested, is asking questions related to what your company is trying to do, or if people are interested but non-committal, there is likely a key element missing. Sometimes, this can be a lack of understanding about the intended audience. Other times, it can be a lack of focus or purpose. It may also be due to a lack of market need or fit. Pitch decks can be beautifully designed and catch an audience’s eye; they can use great buzzwords and pique interest, but if this is as far as it goes, then it ultimately won’t be good enough to gain traction.
The first thing you need for a Web3 project, communication-wise, is a solid 15-second elevator pitch. Next up is a great pitch deck—think of it as your 15-30 minute elevator pitch. A pitch deck is about 15-25 pages of clear, branded, and easily digestible info about your Web3 project. It can be slides or a document, but it should be skimmable and straightforward. If people are intrigued by your project, the pitch deck is the first thing they’ll sink their teeth into. If investors like it, they’ll ask for the business plan. If tech-savvy are impressed, they’ll want the white paper. If potential customers are hooked, they’ll sign up for demos. It can serve as an internal blue-print or manifesto. It’s a multi-purpose and hugely important document.
What Makes a Great Pitch Deck?
A good pitch deck tells a story, but it’s not the story most companies think of. It’s not about the company or the founders. Instead, it’s a story about the customers – where they are, and where you will take them. The story arc is made up of three main ideas: the problem, the solution, and the new world.
Problem: Communication Goal ‘We See and Understand You’
According to Statista, 42% of startups fail because there is no market need. Tech startups, especially in Web3, often focus on what’s possible with technology, without asking if anyone needs it developed. While figuring out cool things to do with tech is fun, a business needs to start with a genuine customer need.
Where’s the pain point?
A pain point is a significant problem for a group of people that’s “painful” enough to make them change their habits, switch loyalties, spend more, or otherwise switch to your product. Identifying the pain point helps you decide on your audience. If a company can find a significant pain point for a large enough audience, they’ve found their opportunity. Your pitch deck should address the complexity of the problem and why others haven’t been able to solve it. Even though your pitch deck might be aimed at investors or developers, they want to see that you understand your users. This reassures them that your product will be relevant and have a real user base. Sometimes, you might be addressing them directly with investor or tech messaging, but the key is to show that you understand the user’s needs. This ensures that your product is relevant and has a strong potential for adoption.
Solution: Communication Goal ‘We Will Solve This Problem’
This is the bulk of the pitch deck content. The problem section is above key, but too much can come off as whiny. The reader needs to be baited with the problem to frame the solution.
Unique Value Proposition (UVP)
This is a clear statement that describes the unique solution your product/service provides and how it solves the customer’s problem. A strong UVP is:
- Short and clear
- Highlights benefits
- Shows differentiation from other solutions
- Specifies the target audience
With this as an intro, the solution section should then go into more detail, showing the solution in (at least) three different ways:
- Customer Perspective: How does this solution work for the customer? Explain the steps, direct benefits, and improvements in the user’s life or business due to your product.
- Technology Perspective: Specifically with Web3, detail how the technology is set up, how it accomplishes the UVP, and what’s new about this solution compared to others on the market. This should include any innovative features or technical advantages.
- Sustainability Perspective: Highlight the long-term viability of your project. If the goal is to be profitable, outline how the project will achieve profitability. If it is not aiming for profitability, provide income and profit projections that show the ability to cover expenses for maintenance and improvements.
This shows how the solution is relevant, working, and lasting—all key elements.
Why Do You Need Blockchain for That?
When introducing blockchain and related technologies like decentralization and DAO governance, it’s important to justify the added complexities they bring. These technologies complicate products and companies. If you are incorporating them, clearly explain the reason why they are necessary for the solution.
Is This Really Innovation?
Many projects simply transition ideas from Web2 to Web3 or shift from traditional to digital spaces. While these projects can still be profitable, true innovation lies in re-imagining and developing solutions that weren’t possible before.
Roadmap
If a project has an innovative way of solving a pain point that hasn’t been solved yet, it is tackling a complex and challenging goal. A roadmap breaks down how the solution will develop, showing a realistic and long-term focus and setting expectations for development. Every company can, and should, pivot during development as it learns more about the market and what is possible with technology, so the roadmap isn’t a contract detailing exactly how the next five years will look. Instead, it is a penciled plan to show seriousness and commitment.
Team
Who is behind this solution? Highlight the people driving the project and explain why they are uniquely qualified to solve the problem. Showing the team is essential for building trust and connection with the audience. People want to know who is working on the solution for them.
New World: Communication Outcome ‘Sign me up!’
Though this is the third section, it doesn’t have to be at the end; it can be sprinkled throughout the pitch deck language. Like the problem, it isn’t the focal point, but without it, the pitch deck story has no meaning or draw. What will life look like with this solution in place? How will the user’s/customer’s life differ because they are using this product/service? Will the world be a different place?
- With Product A: Musicians can focus on making music and know their royalties will be accurately and automatically deposited into their accounts.
- With Product B: Users can interact with decentralized exchanges without worrying about slippage, getting the benefits of fast and accurate price discovery without needing to use a KYC centralized exchange.
- With Product C: Homeowners will automatically be able to switch between using their solar panels, selling additional energy produced, or purchasing the cheapest energy sources, all without a complex setup or consistent monitoring.
This new world picture is the final hook. With these areas well presented, the pain point is clear, the solution is possible with a solid team and plan, and now the future is something tangible they can envision.
Sign me up!
The End Needs to Include Ways To:
- Get Involved: Follow, sign-up, invest, and demo test.
- Learn More: Business plan, white paper, contact information.
These are the key ingredients, not a rigid template. Additional sections can be added, or information can be presented creatively to match the company’s voice and appeal to the audience. However, when someone reviews a pitch deck, all these elements must be clear. Without the clarity, focus, and purpose these elements bring, the audience may be left confused and unsure. It is imperative to use this document to convey a clear, intentional message that the audience can buy into.
What About the Token?
Tokens aren’t a key part of this pitch. Unless the project’s problem specifically involves a lack of sh$t tokens in the market, a token isn’t the solution. Complex tokenomics are often just baiting airdrop groupies, sounding scammy, and implying that the project lacks depth. These kinds of projects may have worked in the past, but they aren’t exciting, and users and investors are wising up. If a token is crucial to the solution, highlight what it offers in the relevant sections. However, avoid using a token as a solution in search of a problem. While this might generate initial interest, it won’t attract the right people to make the project successful, sustainable, and capable of creating real change.
Need a pitch deck created? I love transforming new ideas into compelling, stunning, and memorable pitch decks. With a strong background in communications, graphic design, and blockchain, combined with strategic thinking, I am the ideal person to bring your vision to life. I look forward to talking with you about your project!