How Web3 Will Change The Marketing Landscape Forever

Amitek Sinha Nov 19, 2022

The third phase of the internet is here, and it is ready to bring potential disruption for businesses in a wide range of sectors. Web3 is considered the future of the internet, and marketers around the globe are preparing for the anticipated changes. Previously, marketing strategies in Web 2.0 focused on improving the customer experience by improving the front end. However, in this new generation of the internet, the emphasis will also drive backend improvements.

Web3 has hyped its users and opened a plethora of use cases for firms looking to capitalise despite its nascent implementation. With improvements in regulatory compliance, user experience, and accessibility, it will be ready for mainstream adoption. Now, let us delve into the need for Web3 in the first place.

The need for Web3 in this era

The power of Web3 goes beyond the idea of privacy. The entire logic underlying the development of the new internet is centred on data control. In the case of Web3, the users have ownership over their data due to the lack of any private entity that is trying to gain control. In addition, it provides decentralised storage of data that enables the participants to make decisions about their data in terms of storing, sharing, and deleting. Furthermore, users on Web3 remain anonymous, and they can use the internet in seclusion without having to worry about their privacy or data usage.

However, for marketers, collecting the data is significant to identify the target audience and gain insight into their needs. With the emergence of Web 3, approaching third-party cookies will become daunting. Therefore, to reach their prospective customers in the era of personalisation, marketers need to change their strategies.

Web3: Changing Marketing Practices

Web3 is about to bring the marketing revolution, however, it will also bring a few challenges and lots of opportunities for both users and institutional participants. With data no longer centralised on the larger platforms while being distributed through decentralised blockchains and smart contracts, marketers can sustain and thrive through the following marketing strategies:

Social tokens: These are the currencies that are stored on the blockchains, and this technology is anticipated to open up new gates for brands. On a marketplace on Web3, where there are no gatekeepers, marketers can create a direct relationship with their potential customers. With the advent of social tokens, awards and offers can be used by brands to involve customers in amplifying the campaign and building brand awareness around a new product that could be purchased with these tokens.

Embracing Web3 technologies: With the emergence of Web3, there have been several innovations that are ready to cater to the needs of the users as well as the brands. Such technologies include blockchain, dApps (decentralised apps), NFTs, the Metaverse, and tokenisation. Moreover, presenting products using virtual reality (VR) and augmented reality (AR) will provide users with a real-time experience and increase the chances of them ending up making a purchase.

Hyperpersonalisation and content curation: On Web 3, data will still be crucial, even though it might become more private. Discovering buyer data and using it effectively with hyperpersonalisation on decentralised platforms will help make wise marketing decisions and connect strategies. The Internet of the future will also rely on targeted content with in-depth, value-added insights that completely satisfy the user's search intent rather than effective keywords.

Websites, platforms, and online stores must be interactive, user-friendly, and three-dimensional in order to thrive in Web 3.0. It is therefore critical to optimise the online presence now in terms of user experience requirements.

All things considered

Web3 enhances the marketing experience by giving the user control over engagement and factors that affect whether or not they purchase products in the virtual world, thus removing the one-way communication between brands and their customers. Marketers also find some initial challenges in fully embracing the advent of Web 3. However, the use cases for next-gen users continue to emerge for brands that are firm on their potential. Therefore, understanding the core features of Web3 and its potential disruption for brands in various sectors is a vital aspect. In the coming years, marketers can expect specific use cases, innovations, and new strategies for engaging customers.