Technology continues to evolve human connections, making it possible for us to interact in countless ways. Enhanced human interaction also means better business. Businesses have traveled with the internet tide, unlocking doors of opportunities along the way. Marketing and technology have also had a profound effect on business. The Internet is at the center of this change moving us through Web 1.0, Web 2.0, Social Media, and the latest marketing revolution, Web 3.0. – also called Web3 or the Metaverse – is the future of the Internet.
What is Web3 Marketing?
Web3 is the third generation of the Internet, pioneering a decentralized web in which customers determine their own experience. Web3 marketing is built on blockchain technology and targeted at a more accessible and secure web for users. Web3 intends to take the power from large tech companies and hand it to consumers. Web3 marketing is a strategy for properly positioning your business in this new web environment, it transcends UX to CX. Customer experience is the core focus of this new web environment and the rich advertising opportunities that come with it.
Web3 marketing goes beyond Search Engine Optimization and web design to allow the customer to be in command of their experience. Product marketing will be pioneered by consumers in a more profound way. This power shift was necessitated by growing privacy concerns. As more people become worried about how businesses use their data, Web 3.0 is set to allow consumers to determine what happens to it: Internet users will now be able to determine which specific data they want to provide and to which specific brands.
Web3 marketing is transitioning the Internet from the interactive state where brands determine the user’s experience, to a state where users determine what they want to experience and, by extension, what brands should present them with. What this means for businesses is that the way you market your products and services would change. And it’s time you start to prepare for that change.
Evolution of Web3 Marketing
Web3 marketing follows from Web2 and Web1. Web 1.0 represents the emergence of the internet. Information was presented to users in the early stage of the internet as static text and images. In the mid-2000s, Web 2.0 replaced this with a more interactive experience. Blogs replaced static text and images and later on social media emerged to take this shift to a whole new level. Internet users could now interact with each other in real-time and in countless ways. The rewards for businesses were phenomenal. Marketing evolved alongside the web to bring targeted advertising to users, and increase brand recognition and relevance to target audiences. The catch is that most of it has to do with data collection, processing, and use for the benefit of the brand. Many users are unhappy with this as they have little or no say over the process. Web 3.0 has been developed to correct this. The vision is to make the internet decentralized so that the user controls their experience. Web 3.0 will empower consumers to operate tech platforms and desist from sacrificing their data to large tech companies. Web3 marketing is still in its infancy stage but will be built on blockchain. As cryptocurrencies and blockchains continue to rise in prominence, a web environment built around them is simply surreal. As a marketer or business owner, you want to pay attention to the trends.
What Impact will Web3 Marketing Have On Business?
Web3 marketing will have a big impact on businesses, changing the customer acquisition and retention processes. Businesses will have to be more creative about their marketing. To succeed in Web3, business leaders have to focus on creating marketing strategies for the new environment. These would be marketing campaigns that have the customer at the heart of their objectives. Think CX not just UX. Web3 will empower customers to not only experience but also to create. You want your brand to follow this trend. If businesses do not pay enough attention to these changes, they would lag behind and may become outdated. Here are some of the ways that Web3 marketing would impact businesses:
Users will have more power in Web3. Creators will have more control over their content. Consumers, and not big tech companies, will be in charge of internet experiences. Businesses will have to adjust their marketing methods around the consumer.
Because consumers are getting more control, data access will be limited. Businesses will be unable to acquire data as easily as in Web2 but data privacy would be achieved to the benefit of consumers. Businesses will have to change the way they collect data. Marketers will have to be more creative and transparent with data collection and usage.
Marketing in Web3 will focus more on community. With customers being in control of the process, brands have to find a way to resonate better with them. Businesses will need to create storytelling environments and virtual worlds that immensely target consumers and spark and sustain loyalty. The customers you want have to really love your brand to give you their data. They do not only have to need the product or service that you offer them but also have to be convinced that you are the right business to provide it to them.
What Should You Do?
Like everything digital, you need to spot the trend, follow it and catalyze it. To succeed in Web3 marketing, you need a strategy that’s aligned with the changes in Web3. You need to up your marketing. A consumer-focused marketing strategy is more essential right now than ever. We’re already heading into the Web3 marketing environment. It may be daunting to predict what consumers would want and even more so to trail after each consumer. Having a professional marketing agency do it for you will keep your brand alive as the internet changes. For this new generation of the internet, and all the change that will inevitably come with it, having the right team of professional marketers will really be a crucial asset in the near future.
Web3 may change how we do business and how consumers interact with brands but companies who are ahead of the trend would excel. When will Web3 launch? We can say the stage is almost set.