Guide to web3 marketing tactics
The term ‘web3’, or ‘Web 3.0’ is a confusing one. In essence, it is an entirely different way to approach the internet as a whole. As such, it’s by necessity difficult to wrap one’s head around. So, before discussing marketing on it, we need to endeavor to explain it better. If we characterize web2 as a company and individual controlled-controlled World Wide Web, where only a few people have the power to dictate user terms and availability of services, web3 is supposed to “place the power in the hands of users instead”. In other words, using blockchain technology, cryptocurrencies, smart contracts, and eventually the metaverse, the users are supposed to eventually win more rights and control over the Internet. This should help you avoid the exploitation of personal user data and offer much greater transparency. What does this mean for marketing? Check out our guide to web3 marketing tactics and find out!
What is web3 marketing?
As you may have been able to glean from our intro to web3 marketing tactics, web3 marketing is special in the sense that it builds on what makes the basis of web3: enhanced control, interactivity, and individuality. This means that the way a New York digital marketing agency approaches its work will need to entirely change, too.
Instead of focusing on just lead generation and pumping out marketing drives that can lead to conversion, interactive advertising opportunities will become much more important. Businesses will strive to encourage customers to interact with them more and offer larger incentives to do so. In turn, those businesses themselves will be able to guarantee easier customer funneling and conversion. Of course, what makes web3 marketing particularly appealing is the fact that it is an entirely new field. Thus, presenting an opportunity for smaller companies to catch up to their much larger competitors.
The surprising importance of NFTs
You don’t need to be an expert from a social media marketing agency New York in order to tell that NFTs were, and to an extent, still are a publicity stunt. They exploded in their popularity due to being new and interesting. However, Non-fungible tokens are going to play an important role in web3 marketing tactics. Why? Because of what they represent.
They are digital assets that cannot be faked or copied, and which contain identifying information recorded in smart contracts. Meaning that, with their advent, it becomes possible to prove digital ownership. They will become the strongest guarantee possible of true, genuine products. You will not need to worry about fakes and scams if NFTs can prove you’re in contact with genuine businesses. As such, they will become an important marketing asset and reassurance. They’ll even be used as access tokens, such as tokens for early product releases.
The role of social media
Social media marketing is something that’s already grown in considerable influence. So, can we expect its importance to continue in web3? Well… yes and no, interestingly enough. Social media as a concept is unlikely to vanish. However, it is very much possible that specific social media apps will. After all, the opinion of the public has at least somewhat soured ever since it’s become abundantly clear that those very apps are selling user data to advertisement companies.
Instead, web3 looks to create ‘decentralized apps’, or dApps for short. Simply put, they should almost turn the current social media, fragmented as it is into individual-controlled apps, into something similar to an amalgamation that lets everyone communicate. In other words, a lot of the marketing strategies relying on social media will remain the same. But the way they are published and handled will need to be altered considerably.
Crypto has had its hits and misses, particularly in recent times. However, it cannot be denied that it will play an important part in web3 marketing tactics. It can be considered more or less an inevitability that the currencies will eventually stabilize. Not to mention becoming more widely adopted and used by even the biggest companies and businesses. Will every single one have their own cryptocurrency? Unlikely.
At least we certainly hope not! But, it will provide a whole new way to incentivize and encourage customers. After all, being able to periodically award people with tokens and cryptocurrency will become somewhat of a game changer that will strongly encourage customer loyalty and support.
Site and code maintenance
Interestingly enough, with the growth of user importance and availability of cryptocurrency and NFTs, it is likely that businesses will allow a more flexible and commission base approach to site and code maintenance. Instead of having to look for experts and hire, companies will be able to post requests and offer grants in crypto, which interested individuals would be able to apply for and earn.
This means that part of the work of a New York City SEO expert, for example, will be assigned to what will essentially be contractors. Now, does this mean that such experts will no longer be as important? Not really. They will still be the best in their field. But, it will become possible to offload smaller parts of the work required to optimize online marketing on others. Potentially saving businesses both time and money.
The final way in which web3 marketing tactics will differ from what we have now is in the growing importance of 3D and virtual assets. After all, the effort is already being made to create an easily accessible ‘virtual reality’. Once the attempts bear fruit, we can expect such a reality to provide a host of new marketing opportunities. Not the least of which is the fact that there will both be a brand new market to ponder as well as a new way to let your real-world customers interact with your products before committing to a purchase.
As you can tell from our guide to web3 marketing tactics, things will be changing massively in the coming years. Of course, while a ton of things will change, just as many will remain the same. Choosing a target audience, creating customer profiles, and producing interesting content will be just as relevant, for example. Don’t start worrying yet. It takes time for the world to change.