Technology is constantly evolving, and our beloved world wide web is no different . Every version of the internet modifies how we, as users and marketers, interact with it. The next stage of the evolution of the internet is Web 3.0. To make the most out of our digital marketing efforts, it is essential that we know how we can leverage Web 3.0 to have a better understanding of consumer demand and preferences. But how can digital marketers leverage the next evolution of the internet? You’ve come to the right place to find out!
Web 3.0 will affect digital marketing in many ways: increased personalisation, changes in data collection and privacy, changes in marketing strategies, improved user experience, the use of NFTs and blockchain technology. To find out what Web3 means for digital marketing, read our previous article!
What is Web 3.0?
Firstly, it is important to gain an understanding of what Web 3.0 is. Web 3.0 will change everything we know about the internet as we know it. Web 3.0 aims to solve some of the problems that its users experience. Most noticeably, it will offer better control over data privacy and security and will deliver a much more personalised experience for its users. On Web 2.0, our data is stored in centralised repositories, whereas data is interconnected in a decentralised way on Web 3.0.
3 Main Features of Web 3.0
This is one of the most important features of Web 3.0. Decentralisation means that there is no centralised entity or authority controlling or regulating the internet. Instead, it is a distributed network where each internet user is responsible for their own data and content.
2. Blockchain Technology
Blockchain technology allows for a database to be distributed, allowing for transactions that are secure, transparent and tamper proof. This technology could potentially revolutionise how people conduct online transactions and make them much more secure.
3. Improve Privacy and Security
As Web 3.0 plans to be decentralised, it means that there is increased security. This is because there is no central point of attack. Also, Web 3.0 makes it much easier for each user to choose who can access their data and what they can do with it.
6 Ways Web3 Will Affect Digital Marketing
The big debate over Web3 is the role that gatekeepers such as Google will play in Web3. The question remains whether Google will update its algorithm to retain a huge market share of online activity or whether we really will see true decentralisation and the role of large tech companies diminishing. Regardless of this, Web3 will mean hyper personalisation of content with a need for quality AND quantity. The personalised content will need to be based on specific users data and characteristics. For example, a female football fan searching for the England Football Team will get different search results than a male football fan searching the same thing.
The quality of content is key and marketers will be under more pressure to ensure they create quality authoritative content. You will not be able to rely on one huge essay to drive traffic to your site. Content will need to appeal to multiple personas; it needs to cover particular topics and keywords from multiple angles in depth. This may see a change in the type of content being released, as marketers will begin to publish multiple, bite-sized articles. The content will be closely related, but to appeal to nuanced audiences, they will be angled slightly differently.
2. Change in Data Collection and Privacy
The way in which marketers will collect data and the privacy of users is a major change expected with Web 3.0. The aim of Web 3.0 is to be more decentralised and secure; this will change how marketers will collect and store data. Users are going to be more protective over their data, meaning marketers will need to find new ways to gather information. Privacy laws will be much stricter compared to Web 2.0, so marketers could no longer be able to retain large amounts of information in the same way. This is something that marketers will need to overcome and marketing strategies from the 2000s and of the last decade will need an overhaul.
However, this won’t necessarily mean a revolution for marketers. Their strategies may just need to evolve as channels such as social media or email marketing will remain valid assuming they have the right permissions from their target audiences.
3. Changes to Marketing Strategies
Web 3.0 will pose new challenges and new opportunities for marketers and their marketing strategies will need to be updated to meet them. With the changes in data collection and privacy, third party cookies will no longer be available. This means marketers will need to leverage a variety of user data sources to be able to effectively target their audiences.
Web 3.0 will call for marketing strategies that offer a truly immersive experience, rather than just their product or service. We could see a change in the way that customer success and campaign ROI is measured. Instead of assessing success through conversions, consumers’ happiness could be a better indicator.
4. Improved User Experience
Web 3.0 will improve user experience. The internet will become more personalised and tailored to each user as privacy and decentralisation increases. The introduction of the metaverse will mean that people can connect and collaborate with each other, share digital space and own and transact digital properties. Block chain and augmented reality/virtual reality (AR/VR) will also have an impact on how people interact with the online world. Marketers need to rethink their strategies to be able to reach and engage with their target audiences.
5. NFTs (Non-fungible Tokens)
An NFT is more than just a way for artists to sell their paintings online. They are unique tokens that provide a digital record of ownership and can provide real world benefits. Digital marketing teams will need to ensure they create an NFT strategy as part of their marketing strategy.
NFTs can be leveraged to create new experiences for their consumers, for example providing unique branded tokens that provide early access to content or access to special offers or discounts. What makes NFTs so exciting for marketers and content creators, is that customers can decide to keep them, or put them on the market to sell them on. Every time the token is traded, the creator can receive royalty, providing a new revenue stream. Creating a marketing strategy that includes NFTs can provide exciting new opportunities for marketers to monetise their following.
6. Blockchain Technology
The introduction of blockchain technology can be hugely beneficial to digital marketers, if they know how to use it to their advantage. A blockchain is a database that is shared among different nodes of a network. The pieces of data are stored in structures known as blocks. It stores information in a digital format and is impossible to hack and the data can not be tempered.
Digital marketers want to reach their target audience and boost conversions, but the current methods have become bothersome to users. Users want more privacy, better data security and complete transparency of what data is being collected. Blockchain offers this to users, providing more security and transparency. No one can alter the digital record that gets added to the blockchain, not even those who have access to view it.
So, how can marketers use this to their advantage?
- Keep track of ad expenditures- Blockchain stores and records transactions in real time.
- Track digital marketing campaigns- There will not be a need to rely on cookies or any current tracking methods.
- Resolving privacy issues- Marketers are able to store client data on their own servers instead of those that are handled by third parties. This allows users to maintain anonymity and boost privacy.
- Rewarding users- Marketers will be able to reward users with tokens if they decide to take part in their advertisements.
- Preventing click fraud- Blockchain can prevent click fraud as it allows monitoring of digital ads on decentralised servers.
Maximist Limited- Web3 Digital Marketing
Maximist is a Web3 Digital Marketing Agency based in the United Kingdom. We can advise your business on the strategy, design implementation and refinement for your Web 3.0 digital marketing.
If you would like to find out more about our services, or are simply interested in learning more about some of the topics in this article, we’d love to hear from you. You can contact us on 0800 059 0116 or complete our online contact form.