Advanced Web3 Marketing Tactics
Marketers are always on the lookout for emerging strategies, tools, and platforms to enhance their brand awareness and other marketing activities. When a new channel or medium opens for business communication, marketers are always among the first to explore its potential.
So, what’s the latest buzz in the marketing world today?
Well, it’s none other than NFTs, blockchain, and the explosion of Web3 marketing. In order to achieve a variety of objectives, including boosting brand recognition and consumer loyalty and sometimes even monetizing user bases, marketers are now experimenting with web3 technologies such as NFTs.
As any good growth marketing consultant will tell you, Web3 has the potential to completely transform how businesses interact with their target audiences.
Most marketers believe that the metaverse, cryptocurrencies, NFTs, and associated technologies will play an important role in the future of marketing. However, even the most experienced experts in the IT world may find it difficult to know where to start when developing a Web3 marketing plan.
In this post, we look at what Web3 entails, why you need it, and a few advanced tactics that you can use to make the most out of Web3 marketing.
To get a clear picture of just what Web3 is, it is important to first understand the evolution of web technologies from the initial Web 1.0 all the way to Web3 or Web 3.0. Web 1.0 was the first form of the World Wide Web, which launched in 1994 and was characterized by static web pages without attributes such as user interaction and real-time updates.
Then came Web2 in which emphasis was placed on user experience (UX), interaction, and engagement, as well as the use of user-generated content. Web 2.0 had a significant impact on the way that internet users share and receive information. Thanks to Web 2.0 the popularity of social media platforms such as Facebook, Twitter, Instagram, and YouTube skyrocketed.
In Web2, however, internet use is dominated by businesses that offer services in return for access to users' private information. Internet censorship and lack of personal data security are major problems with Web2.
Web3 is the improved version of Web2 that's becoming quite popular today. It makes use of semantic web technologies and artificial intelligence or AI.
In this next stage of web development, we anticipate a greater role for blockchain technology, smart contracts, cryptocurrencies, NFTs, DeFi, and the metaverse.
Web 3 Marketing is a term that examines the web through the lens of emerging trends and technology. As a matter of fact, it's doing more than simply changing our perspective on the web; it's causing a revolution. Web 3.0 marketing is not limited to websites.
A Web 3.0 ecosystem increases the user experience by offering diverse and interactive advertising options. This is beneficial for marketers since they can now send more tailored advertisements to customers. Marketers can also explore a whole new realm of advertising and marketing possibilities thanks to the sophisticated user experience tools made available by Web 3.0 marketing.
Goals of Web3
The goal of Web3 is to increase decentralization and better governance of the internet, which is currently dominated by a small group of corporations. By expanding on open-source, decentralization, transparency, and ubiquity, Web3 aims to rescue the internet from its present centralized state.
Proponents of Web3 argue that this move will bring back the power, that is presently controlled by internet behemoths such as Facebook and Google, to the people.
In addition, Web3 comes with many decentralization benefits. Decentralization, in this context, is shifting authority and decision-making away from a centralized organization such as Google, Facebook, or Instagram to a decentralized network in which no single entity claims ownership of the data.
Keep in mind that the data you provide online is owned by centralized corporations, who might use it to improve or customize their platform for user engagement. In contrast, data at decentralized businesses does not belong to any one company or individual.
Companies that operate on a decentralized model do this via the use of smart contracts, which are blockchain-based computer programs designed to execute automatically when certain circumstances are satisfied.
Blockchain's Importance to Web3 Marketing
Blockchain technology is a method of documenting and confirming transactions, and it may be used for everything that has to be trusted, from monetary transactions to property deals to medical information.
For this reason, blockchain might significantly alter the face of modern advertising. You can therefore say that blockchain's function in Web 3.0 advertising is facilitating the improvement of efficiency and transparency.
Web 3.0 advertising benefits from blockchain technology since it is more transparent and difficult to manipulate because of its distributed ledger structure. By following Web3 marketing trends, you’ll learn the benefits of the technology to your business such as:
- Users would have more control over their data and privacy
- Businesses would be more user-centric and transparent,
- Companies would have to use blockchain technology to make data more open and accessible to the public.
Web3 Marketing Tactics You Should be Using Today
Here are some of the most commonly used and effective Web3 marketing tactics:
When you want to encourage a specific action for your project, such as user testing of the network or protocol, you can use an airdrop to give tokens to users as an incentive.
Airdrops are often used to tackle the cold start problem such as to boost early adoption, reward, or incentivize early adopters. They can be sent to all addresses on a blockchain network or only to certain key influencers.
For example, in 2020, Uniswap airdropped 400 UNI to all users. In September of 2021, DYdX airdropped DYDX to its users.
Most notably, on August 28, 2021, the Bored Ape Yacht Club airdropped 10,000 completely separate NFTs to establish the Mutant Ape Yacht Club. You can use airdrops for more brand recognition or product awareness campaigns.
Use NFTs as Special Passes
Instead of selling event tickets, you might hand out NFTs that provide the bearer access to exclusive perks like online material, in-person consultations, and pre-release versions of your goods.
Undoubtedly, this is one of the most effective methods of promoting your business using Web 3 marketing.
Avoid Using Online Forms and Instead Rely on NFTs
NFTs are unique items, so they can replace online forms and protect consumers against counterfeit or fake products.
The value of NFTs may be used by businesses to unlock rapid access to content and other perks. One effective strategy for strengthening relationships with clients and local groups is the production of limited-edition NFTs. These NFTs may be collected, traded, and sold between enthusiasts.
It's also possible to utilize NFTs to collect cash for charity. NFTs are an excellent method for attracting viewers since their widespread appeal allows them to create a lot of buzz and demand.
Due to the decentralized nature of the blockchain, NFTs make it easier to track ownership. As an added bonus, NFTs provide ownership benefits that remove the risk of buying a fake. The NFT's perceived value determines the quantity and quality of material received.
Reward Your Customers
One of the best ways of boosting customer loyalty is by showing them that you appreciate their time and attention. Show your gratitude for their attention by giving simple but valuable rewards.
Bitcoin, other cryptocurrencies, stablecoins, your currency, NFTs, or even brand-new currencies may all be used as rewards. This is one of the best uses of Web 3.0 for company growth.
Host a Metaverse Event
The metaverse is an online virtual world where people can build and explore shared 3D environments using a variety of software programs.
Because of its characteristics, it works well in settings like fairs, shows, and conventions. It may be quite beneficial to your company to host events in a metaverse. It is even cheaper than renting a physical venue.
Start Accepting Digital Token Payments
Non-FIAT currencies are increasingly being used in online transactions. Some utilities already accept Bitcoin for power payments. Position oneself on Web3 by accepting cryptocurrency payments as early as possible.
Attend Web3 Conferences to Expand Your Network
Attending Web3-related conferences and events is a fantastic opportunity to network with like-minded individuals. You will also learn more about Web3 and its applications by networking with industry experts and keeping tabs on the competition.
The Web3 industry may still be in its infancy but is on the lookout for scalable and successful initiatives that provide a high level of privacy and efficiency at a cheap cost.
In addition to showcasing their latest offerings, several companies unveil groundbreaking Web3 innovations at these conferences. Every other month, there is a new Web3 conference taking place somewhere on the globe.
In contrast to the crowded Web2 industry, Web3 is only getting started and offers several advantages, as discussed above.
It's no secret that Web3 marketers are always trying out new strategies in the hopes of discovering the next big thing. Consider the tactics discussed above for an effective Web3 marketing plan and let me know what you think!