Web 3.0 and Digital Marketing – How to stay ahead?
Say goodbye to the internet as we know it. Web 3.0 is on the way. If you don’t know what that means, don’t worry. This article will take you through what Web 3.0 is, its main features, and how it will impact digital marketing in the future.
WHAT IS WEB 3.0?
Simply put, Web 3.0 is the third version of the internet. Its main attraction is that it is decentralised. What that means is that all the information on the internet will be stored across multiple servers so big companies like Google or Facebook can longer monopolise data.
Feature 1: Web 3.0 applications will be hosted on the blockchain
As mentioned previously, Web 3.0 will be completely decentralised so all its applications will be on the blockchain. A blockchain is created when information stored in ‘blocks’ is linked by a ‘chain’ every time a new piece of information is added.
These decentralised networks are spread across multiple servers so there is no central hub of information. As a result, internet users will technically be in charge of their own data.
Feature 2: User data will be more protected
Because of these decentralised networks, large companies can no longer control or access user data. This has huge implications for data privacy as this practice will reduce the risk of data leaks as personal user information will now be stored across multiple servers.
Feature 3: Better customer experience
Web 3.0 brings better integration of AI (artificial intelligence) into search engines. This means tailored algorithms that can better understand user queries and provide information quicker and more relevant to what we were used to before.
Feature 4: 3D graphics are here to stay
Another feature of Web 3.0 that has been circulating around the internet is the theory that this new version of the internet will have more and more businesses using 3D web design to create hyper-realistic experiences for their customers. Just like in video games, users will also have the option to interact with the business virtually and connect with similar individuals.
HOW WILL IT IMPACT DIGITAL MARKETING?
If you are a digital marketer, don’t be worried. Your marketing strategies will not suddenly go obsolete in the face of Web 3.0. However, it is good to stay ahead of the curve and adapt the following practices into your future marketing efforts in order to capitalise on this new age of the internet.
Host virtual events in the metaverse
The metaverse is a 3D- shared virtual reality created by the company Meta (previously Facebook). Upon entering the metaverse, users can interact with each other and move around the world similar to our real one. So, it makes sense that businesses are now hosting events in the metaverse to boost their brand awareness and stay ahead.
Find other ways to collect data
The advance of Web 3.0 means the end of third-party cookies. What this means for digital marketers is the end of getting customer data from tracking their journey across websites. Businesses now must find other ways to collect user data that are more first-party focused and respects the user’s right to privacy.
Use NFTs as access tokens
Instead of asking people to buy tickets or sign up to view your content or event, try issuing NFTs (non-fungible tokens) to as access tokens. You can even make them limited edition to push sales and curate the feeling of exclusivity among your customers.
Increased interaction with online communities
As more and more communication channels move online, virtual communities are only getting more popular. As a digital marketer, it is imperative that you join and monitor communities that are relevant to your industry in order to see what your customers want.
Create immersive customer experiences
There are no more excuses for having uninteresting websites. Customers want to be engaged and they want to see something unique. Focus on creating innovative customer experiences that boosts your brand recognition and can generate sales.
Create more interactive ads
As with websites, ads can no longer be static images with uninspired copy. Video ads or ads that use 3D images and can be interacted with are more likely to attract customers.
Come up with new KPIs (Key Performance Indicators)
Your growth strategy may change in Web 3.0. While most of your KPIs will still be valid, it is a good idea to put into place new metrics that will accurately track your progress when you implement these changes. Consider using KPIs like community engagement, NFT sales, and customer interaction with events and content.
Tap into influencer marketing
The new age of the internet comes with more user-based content. This means existing content creators and influencers will no longer be at the mercy of brand and will have more power in deciding what content they want to endorse. So having influencers promote your brand and paying them fairly for it will help your brand.
Increased customer transparency
With the emphasis on protecting customer data, Web 3.0 demands more transparency from businesses to their customers. Whether it is about collecting user data, company ethics, or sustainability, brands now owe to their customers to be open about their business practices. This will in turn increase customer loyalty and brand credibility.
Acceptance of cryptocurrency as payment
If you’re not prepared to integrate cryptocurrency into your payment structures, you may need to rethink your business strategy. With the induction of bitcoin and other currencies into the mainstream, customers will be more likely to expect to pay with crypto coins.
If all of this seems daunting, don’t stress. We’re all in the same boat. The information around Web 3.0 is constantly changing and there is no set date for its arrival yet. As long as you keep yourself updated on the latest news and trends, you’ll be able to better understand what this means for your business and how you can prepare for it.