Marketing strategies to enter the Web3
Web3, also known as the decentralized web, is a concept that is gaining relevance in the marketing industry.
As we discussed in our previous article “What is Web3?”, the term was introduced by Gavin Wood, co-founder of Ethereum in 2014. Wood defined Web3 as the next generation of the Internet and web protocol.
The decentralized protocol gives users complete control of the platforms. Until now, big technology companies like Google and Meta have had control of all the data, often without respecting the user’s privacy.
Now, privacy regulations are changing and users are asking for complete control. In this context, decentralization becomes a new strategy for customer acquisition and loyalty.
New marketing goals on the Web3
In Web 2.0, marketing strategies have been focused and developed based on content generation. Search engine optimization (SEO), inbound marketing, and social media are the most widely used techniques.
Web3 Marketing consists of effectively communicating the purpose of the company in a new 3.0 space to attract the first users.
In this new environment, marketing teams can target potential customers in a more targeted and interactive way.
These are the key factors that are accelerating the evolution from Web 2.0 marketing to Web3 marketing:
- New legislation that restricts access to user data.
- More decision-making power for buyers.
- Self-employed content creators.
- Multitude of sources of information.
- New virtual spaces for social interactions (metaverse).
- Growth of e-commerce and c-commerce sales.
8 Web3 Marketing Strategies
Here you have a list of the most used and most effective Web3 marketing techniques:
Non-Fungible Tokens (NFT)
Non-Fungible Tokens (NFTs) are digital assets created using blockchain technology. What characterizes these assets is that they are unique and unrepeatable tokens.
At this time, NFTs are one of the most popular techniques among big brands to enter the Web3 universe.
If you have never worked with this technology, we recommend you having a technology partner and a marketing agency that can give shape to the idea. The NFT Brewery is a platform that helps brands and content creators take the complexity out of creating, storing and managing digital assets.
The metaverse is the creation of a 3D virtual space or universe. In this space, brands can carry out different strategies such as advertising their products in an existing metaverse, participating in the best-known metaverses such as Fornite or Roblox, or creating their own metaverse.
Nearly 75% of Gen Z shoppers have already purchased a digital item within a video game, and 60% say brands should sell their products on metaverse platforms.
Decentralized social networks
Entering decentralized social networks is another key point to position the brand in the Web3 universe. In these social networks, users have full control of the rules and the use of data. In the same way, it is the perfect place to find users who are already familiar with Web3.
Another (advanced) strategy is the creation of the company’s own tokens, that is, the brand has its own exchange currency. Companies can assign a financial value to the token, thus creating a liquidity pool.
What do users earn? Apart from being able to invest in the company, it is a way to maintain their loyalty and generate more interactions.
Social or reward tokens
Social tokens are fractional shares, without an economic value, but that can be obtained by fulfilling objectives set by the company (sharing content, writing reviews, subscribing, etc.) to later be exchanged for other discounts or benefits.
POAP, or Proof of Attendance Protocol, is a protocol for the creation of digital credentials that prove attendance at an event using blockchain technology. In other words, they are badges that the user can collect for having attended a physical or face-to-face event.
Membership NFTs are part of loyalty programs. In this way, the brand can offer holders of this NFT exclusive access to benefits. For example, Veefriends and its collection of exclusive works offer their owners 3 years of access to its events and exhibitions.
Payment with digital tokens
Virtual transactions with non-FIAT currencies are becoming more and more common. Already even some electricity companies let you pay for electricity with Bitcoin! A good way to position yourself on Web3 is by offering your customers to pay with cryptocurrencies.
Conclusions and suggestions
Marketing on the Web3 is still a new concept which continues to evolve day by day. Web3 marketers continue to test the feasibility of different techniques as they seek to find the new trend that will make their brand go viral.
If you still do not have experience in the new Web3 world, from inlea we recommend you:
- Follow Web3 trends.
- Develop agreements and collaborations with companies that are already in Web3.
- Have legal and tax advisors specialized in Web3, and therefore, in blockchain technology.
- Add NFTs in the brand’s content strategy.
- Develop a community of fans in the brand’s social networks.
- Define the Web3 KPIs that will measure the results of the strategy.