In this NFTexpress article we will learn and discover how to use the power of Web3 and its technologies to revolutionize communication and marketing with all the tools offered by this new industry.
Companies and media are noticing that people and users who used to choose a centralized and controlled model are now becoming aware of and interacting with decentralized models.
This shift, commonly referred to as “from Web2 to Web3,” is occurring because people are wanting more control over their data and privacy that for many years was given away to the larger corporations that run the Internet.
Consequently, marketing is also experiencing this major technological paradigm shift, as companies are starting to focus on being more open, taking responsibility and trying to make customers happy if they want to succeed in this new industry that is Web3.
Web3, also known colloquially as the “decentralized web,” is changing the way people talk and interact online. In this new environment, old marketing strategies and tools no longer work or don’t work as well as they used to. In this new Web3 world, marketing will need to focus more on building trust and providing true value to customers so that they want to be part of your service.
Communication will be vital in this new Internet, as it has to be designed for a group that will be particularly important for companies known as Generation Z and/or Millennials.
This group of people are digital natives, who do not distinguish the real world from the digital world, but merge both spaces. They are early adopters of these new technologies and know or are familiar with decentralized technologies, cryptocurrencies, blockchain, NFTs and more.
Also, they are a group that is seriously concerned about their privacy and security online, which makes companies be responsible and transparent if you plan to work with them.
In addition, companies will have to adapt to the new media channels that are emerging daily in the Web3 world in order to reach this audience and connect with them. Platforms such as Discord, Bluesky and Mastodon are changing the way we communicate online.
The metaverse, not yet as developed, will be one of the most powerful and widely used platforms for communication and interaction between people and companies, as it combines tools such as AR, VR, blockchain, cryptocurrencies and social commerce.
New ways of purchasing goods and services
Beyond revolutionizing the way we communicate, Web3 also has the potential and is already having a major impact on the way we buy goods and services.
Decentralized finance platforms known as DeFi and Play-To-Earn, or play-to-win games, are growing in popularity over the years with the adoption of blockchain technology. They also offer new ways for consumers to earn and spend cryptocurrencies.
With the economy becoming increasingly digital, where millions of people already use QR and have virtual wallets, companies are looking to add decentralization to change and find new ways to reach and serve their customers.
Community marketing as an act of reciprocity with society can work very well in a Web3 environment, since decentralized applications (DApps) rely exclusively on the ideas of ownership and trust within communities and groups of people.
NFTs, or non-fungible tokens, is one of the fastest growing industries in recent years for the simple fact that they can help brands build and enhance relationships with their customers.
At NFTexpress we have seen hundreds of examples of the use of NFTs to generate benefits, exclusivity and new ways to build customer loyalty. For example, companies such as Adidas, Nike, Gucci, Starbucks, among others, have already started using NFTs as part of their marketing plans.
Adidas, has a presence in Decentraland, the immersive platform for social interactions that combines the aforementioned technologies such as AR, VR, blockchain, cryptocurrencies and social commerce.
Nike acquired RTFKT studio, a project that creates and sells digital art in the form of NFTs collectibles. Starbuck launched its Web3 rewards program that allows customers to earn and redeem cryptocurrencies for shopping at its stores. Also, they have the possibility to earn NFTs in the form of badges for loyalty and consumption in the official stores of the world’s largest coffee chain.
These examples show how community marketing and the use of NFTs can help brands and large companies to build relationships with their customers, get to know them and provide them with new values and benefits that in the past could not have reached them.
These ideas manage to connect with customers and succeed in the Web3 world without the need to be a 100% company created in a decentralized environment (the companies mentioned were created and were very successful in the well-known Web2).
No tracking tools
Without the ability to use the famous cookies to track and target consumers, the marketing environment becomes increasingly competitive. In this new paradigm, brands can no longer “force” consumers to learn about their products or services.
This challenge is very big for companies, as they should instead focus on building trust, providing value to their customers, and bring in an approach known as “pull marketing” which is based on attracting the customer to the brand and not pushing or nagging the customer. We are all familiar with ad blockers, which have emerged because of this pressure from brands and decentralized technologies can be a great solution.
The rise of Web3 can have a significant impact on the way we communicate and, more importantly, market online. Brands and companies that can adapt to this new paradigm and manage to focus on transparency, accountability and customer satisfaction will surely be in a good position to succeed in the future.
Finally, companies need to be proactive in the way they market on Web3 technology. As we have mentioned they will have to do so in different verticals such as community marketing, the use of non-fungible tokens and at the same time, provide value to customers.
Written by Rodrigo Catalan (TW: @RodrigoCatalanB) for NFT Express.