As technology develops, marketing and advertising will alter, typically impacting internet users and brand owners. There were Web 1.0 and Web 2.0, along with the evolution of social media, but no one anticipated further development of the Web. However, we now have Web 3.0 which is also known as the decentralized Web.
The global Web 3.0 market size is well above $3 billion and is expected to cross $80 billion by 2030. So, it is finally time to get really enthusiastic about the internet’s future. Many experts believe that Web 3.0 will have a big impact on businesses and society. Also, it is sometimes referred to as the next generation of the web and internet protocol.
These are some of the key reasons why Web 3.0 is steadily becoming the hotspot for next generation marketing. However, significant problems remain for some projects when developing a Web3 brand despite such massive advancements. Cost inefficiency, usability, scalability, and accessibility are a few of them.
Thus, in order to make this next generation of Web work in favor of your project, there are several strategic ways. In this article, we will take a look at all the essentials of a Web 3.0 marketing strategy, its benefits, and some web3 marketing tactics. So, let’s start by understanding the basics of web3 marketing.
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What is Web3 Marketing?
Web3 is also referred to as internet development’s third phase. So, it is safe to assume that it might very well be the ultimate phase of marketing advancement so far. The Web3 concept has attracted a lot of attention so far, particularly from the venture capital firms, major IT businesses, and the blockchain and crypto industry.
Coined in 2014 by Gavin Wood, co-founder of Ethereum and Polkadot creator, Web 3.0 provides people total power as opposed to the usual, which is for Google and other digital businesses to have total control. Customers now value their privacy more because, as was already established, company practices have changed as the internet has developed.
While it might not appear feasible at first, the blockchain technology allows us to achieve all that’s mentioned above. The next generation of web influences all marketing channels. This is why web3 marketing firms rely heavily on mediums like SEO, social media, influencer marketing, and more. Additionally, it enables targeted advertising by allowing advertisers to use interactive publicity stunts to improve the consumer experience.
Here’s how this marketing strategy is changing the landscape:
- Focusing on user data privacy.
- Giving more control to average consumers.
- Promoting content creator reliance.
Apart from that, there is unlimited access to a wide variety of information sources. These are some ways in which Web 3.0 is completely redefining the digital marketing landscape.
Web3 Marketing Strategy Essentials
Now that you know what web3 marketing is and how the strategy is steadily evolving marketing, it is time to take a closer look at some of its essential elements. So let’s get right into it.
Decentralization is the main theme of web3 marketing. As data will be available simultaneously everywhere, it indicates that no firm will have centralized control over it. Additionally, the absence of middlemen will reduce the likelihood of server failure and data theft.
If you recall, at some point in 2021, all servers and applications under Facebook’s control were shut off completely. Many firms suffered significant losses as a result of the disaster, but web3 will never have this issue.
2. Virtual Reality
Virtual reality is unquestionably an essential component of Web 3. With numerous corporations, including Meta (formerly Facebook), Nike, and others already beginning to develop their virtual brand empires, metaverses have become incredibly popular in recent years. The marketing sector is getting a whole new set of opportunities thanks to these virtual environments. Marketers may now take use of digital space that wasn’t previously available.
3. Artificial Intelligence
Because the AI and Web 3 technologies are developing in concert, the Web3 platform will enable several improvements in the AI sector. Distributed ledger technology on the blockchain will enable AIs to instantaneously crawl correct data, greatly enhancing their learning process.
Ubiquity, which we all understand to imply “extremely common,” suggests that there are no restrictions on the use of this marketing strategy. Therefore, anyone must be able to access it via any device from any application for Web3 to be ubiquitous.
Nevertheless, it makes little difference if there are more people using the internet every day. According to this line of reasoning, there are no limitations to implementing the web3 marketing strategy, regardless of device at hand, place or time.
Top 4 Benefits of Web3 Marketing Strategy
Now that the fundamentals are clear, it is time to look at some of the key benefits of the next generation marketing strategy. So, let’s understand how this strategy can take your web3 project to the next level.
1. Data Theft Reduction
In reality, if the old web worked successfully, web3 wouldn’t be necessary. Sadly, it wasn’t the case because the web2 made user data vulnerable to theft. Fortunately, the web3 project’s decentralization has come to save the day. With that in mind, marketers can easily promote projects without worrying about theft and other related vulnerabilities.
2. Elimination of Intermediaries
The 1.0 and 2.0 webs have centralized data in common. Infinite quantities of personal data are in the authority of high-tech firms like Google and Facebook, making them vulnerable to data breaches and manipulation. Due to the precision and openness of blockchain technology, Web3 technology solves this problem.
This aspect of the next generation web can be exploited by marketers to attract a vast audience towards projects. With no middleman asking for personal information, users are more likely to engage with web3 projects when advertised right.
3. No External Access
Security is increased to the fullest extent by limiting access to user data as well as data exposure. Additionally, dependability is ensured because consumers won’t require a middleman. Greater data privacy is made possible via blockchain. Blockchain’s confirmation and documentation of transaction ownership under pseudonyms makes this feasible.
Your data is protected and kept private by doing it in a verifiable and sustainable manner. Since transactions are arranged chronologically, data on blockchain cannot be changed. The first use of Blockchain was made popular by Bitcoin, and numerous software businesses have subsequently used it.
Simply put, trust, credibility, authenticity, and authoritativeness are the key aspects that marketers can focus on to promote your web3 project.
4. 3 Dimensional
The development of web3 has made it possible to use a variety of three-dimensional applications, such as virtual reality and augmented reality. Users benefit more from it than from two-dimensional environments since comprehension is made simpler. Another prominent aspect that can help you attract more customers to your web3 project.
Web3 Marketing Tactics
Users will be able to ride the web3 wave thanks to several developments, such as:
1. Social Media
Due to the ongoing evolution of communication and marketing strategies, the many social media platforms we are familiar with, such as Instagram, Twitter, Facebook, and the others, are widely used. Despite this, they are accused of violating people’s privacy, and there is evidence that they have sold user data to advertisers.
Clients focus significantly on data protection, which is why decentralization is necessary in the wake of this breach. A succinct yet effective way to communicate the complexity of Web3 is to use memes, which are now the social media monarchs. Thus, it is an effective and efficient way for web3 marketers to exploit social media platforms for promoting projects.
2. Non-fungible Tokens
Following their prevalence in 2021, NFTs are now quite common. Given that nobody wants to fall behind, the majority are following this trend. Digital assets such as games, artwork, and other types of media are referred to as NFTs. NFT designs are further scarce, and purchasing a fake is exceptional.
Currently, there are many NFTs that communities have developed to bring together token holders worldwide. There are already plans for these primarily online communities to get up in person. Consider the total number of individuals who are purchasing and selling valuable NFTs.
Howard Schultz, the CEO of Starbucks, and Brandy Brewer, his executive vice, recently announced their plans to launch branded NTFs. They want to develop Web3 and Blockchain technologies to provide clients access to a kind of online community.
The rationale behind this entire scheme is to provide their clients access to exclusive benefits while generating fresh possibilities for interaction. As a way to enhance its brand, Starbucks’ NFTs will focus more on art, narrative, and coffee. These are all creative concepts that will make use of Web 3 marketing strategies.
3. 3D Virtual Space
Virtual reality plays a significant role for several internet businesses and apps joining the metaverse. You may not realize this, but we anticipate that the metaverse will resemble the internet as we know it right now. All aspects for marketing and communication will be there, but this time they will be used in an enticing way both online and offline.
With the constant development of blockchain and web3 technologies, more and more projects are launching. The competition is only getting bigger and tougher. Thus, in order to highlight your web3 project, you need a successful marketing strategy.
This is where a web3 marketing firm like Blockwiz can easily help you. From goal setting to execution, we can help you plan and execute the best marketing strategy for your project. So, if you want to stay ahead of your competition and make your web3 project successful, now is the time to act on it.