More than three billion people around the world use the internet, and they do so in different, individualized ways. Marketers have always known this and taken advantage of the internet to reach a fraction of these three billion internet users. Different waves of technology advancements have impacted digital marketing in different ways, and you only need to compare digital marketing before web2.0 and after it. Now, web3 is here, and it is going to impact digital marketing in its own subtle but important ways.
New Advertising Avenues
Perhaps the biggest impact of web3 on marketing is a shift in focus from traditional advertising platforms to the metaverse. With web3, the internet is moving from the screens on our computers and mobile phones and will be in the world around us. Marketers can build more engaging and intriguing experiences for their target audience in these spaces, giving them new advertising avenues and reaching people where they likely will be in the future.
Identity and Privacy
Until now, marketers have relied on user data to create personals that help them target their customers at very granular levels. Web3 gives data control back to users meaning that marketers will have to rely on the data provided to them by customers for their marketing efforts. Marketers will find it harder to target those who do not want to be targeted (which has happened in the past) because user identities will be strictly controlled by the users themselves.
Creators Will Benefit More
Another disruption that is coming is direct payment to content creators and not third-party middlemen. As it is now, the platforms that make content available take a cut of whatever creators make. Think Apple Music and YouTube. In the new dispensation, payments will be done through tokens, with audiences able to compensate creators directly. More businesses will benefit from this arrangement and will be able to put more towards advertising and their bottom lines.
Preparing Your Brand: Follow the Trends
Things are changing rapidly, and businesses have to follow the latest trends to ensure they are taking the most advantage of web3 content. Businesses can work with a web3 agency that will not only create the content for them following the latest trends, but also ensure comprehensive communication with interested and engaged audiences.
Businesses can also create assets that help them take advantage of the hype surrounding web3. For example, we have seen numerous businesses create NFTs that have garnered them a lot of attention and free marketing.
Building Better Relationships with Users, Customers, and Audiences
With user identities and data so closely guarded, businesses will have to build meaningful relationships with all stakeholders. Businesses will have to switch from seeing their customers as data or data points in a database, and instead see them as people looking for information, products, and services, as well as brands they can engage with.
Since web3 is so new, there is still a lot to come for businesses and marketers alike. The best thing you can do is get in right now because those who get in early will reap the most benefit once web3 becomes the standard.