Web3 is unlocking a new revolution in the way brands and creators engage with their consumers. NFTs, the Metaverse, Crypto, and DeFi present new business opportunities in various sectors, and as we know marketing plays a major role in how effectively companies deliver their services, products, and experiences to their customers.
What is Web3 Marketing?
Marketing trends have developed alongside the evolution of the World Wide Web. Let’s take a quick look at what marketing looked like in web1 and web2, so we can better understand what opportunities web3 offers and what the future of marketing might look like.
Marketing in Web1 and Web2
At the very beginning of the internet era, aka web1, digital marketing was in its infant stages. Some people had their own static pages but most users were consumers. The only way to market online was by collecting emails and advertise through email marketing.
When we moved into the web2 era, digital marketing exploded with the rise of social media and search engines. Marketers could now collect data from these online platforms and use it to better understand their target audience as well as craft very specific marketing campaigns. In web2 we saw the rise of geo-targeted ads, influencer marketing, SEO, mobile ads, and much more.
Web3 Marketing – A New Era for Marketing
This brings us to web3 marketing. While the focus in web2 was to improve the front end, in web3 the focus is on innovation on the back end. In web2, it is well-known that the platforms we use own our data and in turn we get access to their services. However, in web3, this data can now be owned and controlled by citizens rather than private corporations. The data is stored in a distributed network that is not owned by anyone, rather than on centralized platforms like Google and Facebook.
Data privacy will a have a huge impact on marketers as they will now have to invest more resources into learning what customers really care about and build a community around that. You will hear many web3 brands and projects talking about how important community is, and this is very true for web3 as we are seeing the rise of ‘community marketing’.
This is not to say that web2 marketing tactics are going to disappear, they will very much still be here but will work alongside web3 developments such as NFTs and the Metaverse. These developments will aid brands in creating loyal communities who can become brand advocates for them.
Web3 is especially powerful for content creators, who will finally have full sovereignty over their content and revenue rather than being at the mercy of the platforms they use.
Web3 Marketing Strategies
At the core of web3 marketing are NFTs and the Metaverse. As you’ve probably heard, the Metaverse is one of the fastest developing sectors right now, so, how can you take advantage of it to boost your marketing efforts, raise brand awareness, and expand your customer base?
Let’s take a look at several web3 marketing techniques you can add to your campaign.
3D Billboards in the Metaverse
Metaverse marketing allows you to reach a global audience from around the world since you’re not limited to a physical location. Anyone who is walking through the most popular virtual worlds such as Decentraland, Voxels, and Somnium Space, will be able to see your advert and engage with it.
Metaverse Residents offers extensive services to business that want to advertise in the metaverse. An option is to put up your own custom-designed advert on a 3D billboard on a premium location in Decentraland. Businesses can do this without having any coding or web3 knowledge, as the interface is very intuitive and simple, acting as bridge between web2 and web3. This works in a similar way to traditional roadside billboards in real life.
Virtual Events in the Metaverse
Another option is to market your brand in the Metaverse is to hold an event in a virtual building. You can host pre-recorded videos, live video streams, display artworks and play audio, and chat and interact with your guests live in the Metaverse!
Hosting an event is the perfect way to attract both seasoned Metaverse dwellers as well as new customers who are keen to see what it’s all about. The best part is that you don’t have to build your own venue which requires technical skill, is very time-consuming, and it would mean buying your own virtual land which is oftentimes very expensive.
There are many ways to get creative with hosting a virtual event, everything from selling NFT tickets to creating interactive experiences and rewarding users by participating.
Sell NFT-Gated Access
Bringing NFTs and the Metaverse together is the ultimate recipe for innovation and success in web3 marketing. NFTs serve as a creative channel that can help brands and creators expand their digital offerings and provide potential or existing customers more engaging ways of interacting with the company. This will help create a vibrant community around your brand which is very much aligned with the concept of community marketing.
This can involve selling access to your premium content or presenting a loyalty program based on NFTs. NFT holders can gain access to exclusive perks, such as special merchandise gifts, one-off releases, membership, and even monetary rewards for participation in certain events. The list of possibilities is endless really.
You can build a following of fans and collectors for your goods and services by providing digital assets that can be collected, traded, and sold. This level of interaction has the ability to turn clients into ardent supporters, which is something that conventional marketing strategies have had difficulty achieving.
Another option is to incentivize your customers by rewarding them with a free NFT or perhaps a POAP (Proof of Attendance Protocol) badge for attending a Metaverse event. POAPs are NFT badges given out to attendees of Metaverse events, proving that you were at the event. Each badge is totally unique and makes for a great collectible, especially for those who frequent Metaverse gatherings and want to document their virtual experiences.
Create Gaming Experiences
Offering interactive and immersive experiences is a new Metaverse marketing tactic which is inline with the web3 industry. Although it can bring a great ROI in the long run, it does initially require a larger marketing budget, a competent creative team, and a tech team familiar with web3. The buzz it will create, though, will be worth it if you can manage to give your customers a cool experience!
A excellent example of this is Gucci’s collaboration with Roblox. The partnership saw the duo create a Gucci-themed environment where players could use real money to purchase in-game products. There are many ways to approach this and design a unique experience, depending on the virtual world, budget, and goals of the company.
The way we connect with businesses is transforming every day. Web3 is quickly evolving, and now is the perfect time for marketers to embrace this new technology and be part the innovation!
Source NFT Plazas