Many people have heard of Web3, but don’t really understand it. However, it will be a prominent aspect of the way we connect with each other over the coming years. As such, it’s important to begin employing Web3 marketing tactics in 2023.
Put simply, Web3 is a decentralized extension of the internet facilitated through blockchain technology. Rather than data being centralized on servers controlled by “big tech” and other organizations, it can be decentralized. Tokenization will allow for micro economies on these decentralized networks. And, in many ways we can expect to see a hybridization of this new, and old technology, such as by using blockchain to facilitate transactions while using legacy Web2.0 technology to serve webpages.
Web3 marketing utilizes decentralized tools like blockchain, non-fungible tokens (NFTs), and decentralized applications (dApps). Though SEO and other legacy digital marketing tactic are still relevant and important, Web3 elevates the way we think about marketing. It includes leveling up the way humans and machines interact, through tools like natural language processing (see ChatGPT) and the metaverse, where real world objects can be virtualized and tokenized.
Web3 is still very new, and there isn’t yet consensus on a specific definition for “web3 marketing.” It can include everything from cryptocurrency marketing tips, to Discord community building and mirroring your inventory in the metaverse. To begin preparing your company for this transformation, consider some of the advice below from a variety of marketing experts as you shape your own web3 marketing strategy.
- Getting NFTs
- Building Loyal Followers
- Leveraging Blockchain-based Data Exchanges
- Shifting to Web3 Social Media
- Developing Educational and Gamified Content
- Creating a Decentralized Loyalty Program With Rewards
- Leaning into Community-based Platforms
At our company, we’re making sure that we’re up to date on the latest trends and technologies. Recently, we’ve been getting into Web3 marketing strategies. We picked up on non-fungible tokens (NFTs)—allowing us to occasionally reward our customers with a surprise item related to an upcoming product or promotion!
To back this idea, we also started using a decentralized server, which helps us keep track of our data and customer information securely. So far, it’s been a very exciting experience with outstanding results!
Building Loyal Followers
I believe the best way for our company to prepare for a decentralized web is to start by marketing outside of Web3 platforms. We are not rushing into Web3 platforms right now, but building loyal communities around our brand that we will probably use to move to decentralized platforms once they are fully up and running and we see people actively taking part there.
We are currently using traditional social media to build loyal followers for our brand, establish relationships with them, and raise brand awareness before moving to Web3.
Leveraging Blockchain-based Data Exchanges
Our company is leveraging blockchain-based data exchanges to increase the speed and relevance of marketing campaigns. We are also using smart contracts to facilitate automated transactions between customers, vendors, and other stakeholders.
In addition, we have developed a decentralized platform that uses various distributed ledger technologies (DLTs) to provide immutable tracking of customer activities and target market segments with precision. This provides us with the opportunity to create marketing strategies tailored to a customer’s needs and interests, allowing us to increase engagement and conversions.
Finally, we are exploring ways of integrating AI and machine learning into our Web3 marketing strategies, in order to further automate the process and gain deeper insights into customer behavior.
Shifting to Web3 Social Media
Community building is one of the best tactics to implement We3 marketing. It helps to build a loyal customer base that is effective in advocating for your project. Webinars, meetups, hackathons, online forums, and events are the ways through which your users can share their ideas and discuss them.
Creating an online community creates a sense of belongingness. It helps the group of people to discuss the project thoroughly, as if it is going to affect their lives. However, take the help of social media to create a community. You can switch from Web2-based social media to Web3 for building a community.
Social media is an effective, secure, and fast platform to build community and implement Web3 marketing. In 2023, many businesses are using this tactic for a decentralized web. You can also strive for the best and most innovative results.
Developing Educational and Gamified Content
In a decentralized web, the community plays a vital role in the success of a project. By building a solid community, we can create a network of supporters who are invested in our projects and can help spread the word to others.
One tactic we are implementing for building a strong Web3 community is by developing educational, gamified content that explains the benefits and use cases of Web3 technology and how our project fits into the ecosystem.
By implementing gamification elements into our project, we can make the user experience more fun and engaging, motivating users to take part and contributing to the project’s success. By building a solid community around our project, we can create a foundation of support to help our projects thrive on the decentralized web.
Creating a Decentralized Loyalty Program With Rewards
One way that companies could implement Web3 marketing tactics is by creating a decentralized loyalty program that rewards customers with digital tokens or other assets. These tokens could reward customers who engage with the brand, take part in community activities, or refer friends to the company.
By using blockchain technology to create a decentralized loyalty program, companies can provide more value to their customers by giving them greater control over their digital assets and data. Customers could use these tokens to purchase products or services from the company or trade them with other customers in a peer-to-peer marketplace.
Leaning into Community-based Platforms
In a world where trust is harder to gain than an invitation to the Met Gala, we must do everything we can to show our authenticity and legitimacy to our audience. To do this, modern marketers must embrace Web3 communities.
Building a robust community around your brand is key to earning trust, building a fandom, and ultimately making sales. Web3 has brought a surge of community-based platforms, such as Discord, to the forefront. These interest-based communities will be the most effective tactic in 2023 and beyond. But the strategy for community-based marketing differs vastly from that of social media.
Brands that are committed to gaining trust must earn it like the others in the community. Community-based platforms and communities, in general, will be the most effective channel in 2023, and the time to start prepping is now.