Web1 was nothing more than our introduction to the Internet. The Web2 era is popularly known as the era of booming e-commerce. The internet is dynamic and changing with the emergence of new ideas.
Virtual Reality and Augmented Reality don’t stop at Web2 and pave the way for the new Web3. As an immersive technology, Web3 strives to give users the opportunity to connect with brands and experience their services firsthand. Since Web3 will be around for a while, let’s dive deeper into understanding how it’s changing the marketing landscape.
So what are the main characteristics of digital marketing in Web3?
- Personalization with AI: Web3 works on Natural Language Processing (NLP) and is more efficient in decoding data with precision. With increased confidence in the collected and derived datasets detailing visitor journeys, artificial intelligence (AI) is central to Web3, enabling digital marketing campaigns to be targeted to individuals while also considering their digital behavior.
- No company holds the data: As Web3 offers a more democratic environment in terms of data availability and is not controlled by a central body, digital marketing becomes increasingly easier, targeting tailored marketing campaigns with publicly available user data.
- Transparent communication between users and brands: Unlike the Web2 era, when individuals rarely had control over their data being collected and shared across organizations, Web3 empowers everyone to control their data. This is an added value to prevent misinformation and sensitive information from becoming a victim of online fraud. It offers users ownership of data, thereby paving the way to their absolute freedom on the internet. Digital marketers can engage customers by understanding and learning their preferences directly, rather than taking the long route.
- Abolition of third-party authorization: No user submission is required Through third-party authorizations, Web3 keeps user data clean and safe from being the victim of manipulation by many third-party data-collecting companies, increasing the security and privacy of user data. Reaching the target audience’s clean and protected data directly by itself, without interference from third-party companies, is all that digital marketers want, and hence Web3 will be more transparent for digital marketers.
Marketing in times of the metaverse
As we know that the world is increasingly seeing the potential in the Metaverse – the digital world that offers immersive experiences close to reality for the users, marketing in this area will be a different ballgame as the platform has immense growth potential.
With no boundaries preventing anyone from roaming freely in the virtual world and experiencing futuristic new age products, the Metaverse is a great place for brands to engage individuals in real-time avatars in highly personalized ways.
To give an example, if you have a clothing brand pop-up shop in a Metaverse room, say a music artist is planning their show on the same platform, then you can partner with the artist to provide free t-shirts Visitors to the Metaverse event. This allows you to collect data about visitors who chose to wear your t-shirt to later target them for your other products.
You can converse with these users’ avatars while they are in your pop-up shop and provide you with real-time business prospects. And the users can quote what they want and choose from your products accordingly.
Moving away from the one-way communication from brands to customers, Web3 takes the marketing experience up a notch by giving the user control over the engagement and parameters that lead to buying or not buying the products in the virtual world.
While Web3 is still in the early stages of adoption, marketing in this space will take some time to inform the masses and normalize marketing on this platform.
There is no doubt that Metaverse will soon become popular like cryptocurrencies and NFTs as the masses around the world have increasing confidence in owning digital assets in the virtual world.
Marketing on Web3 is a desirable model for many, but to be successful at it, brands need to delve deeper into the understanding of the technology and begin a trial and error marketing method to attract users to the space while providing them with something to provide an immersive experience for your products/services.
(Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of YourStory.)