With the continuous growth of the digital age, a new era of the internet is growing to a greater extent, which is known as web3. Along with Web3, Crypto, NFTs, and Metaverse are also buzzier than those polarizing, disruptive, and world-building technologies.
To understand it better, let’s break down web3 to understand it better and learn when it launches and how it can impact the marketers in the short and long term.
Mainly, in the late 90s, the world came to know about the emerging part of the internet. It was not as complicated as today, but it includes the gray buttons, basic fonts, and blue hyperlinks. Then it developed into Web 2 in 2005, which was a phase when customers could grab the maximum content as per their needs like never before. First, the content was from blogs, but social media has been known as an effective platform after some time. However, as the internet has started to gain popularity, the methods businesses use to market goods to consumers online have also grown to a wider extent. It has led to the growth of privacy concerns among customers working hard to develop trust for their data in terms of brand.
Just consider the evolution of Amazon, which was once popularly known as an online bookstore. Still, today, it has transformed into a better tech with its popularity in digital steaming, e-commerce, artificial intelligence, and cloud computing.
The aim of Web3 is that the new evolution of the internet will allow consumers to get access to own and operate tech platforms without any external need instead of giving up on their data. They don’t even have to rely on the big tech companies to get help. It is only possible with cryptocurrencies and blockchains. When you own a token, you get access to the network, popularly known as the blockchain. So, the more tokens you have, the more control you can show over the network and the direction it is headed in. So, on a daily basis, token plays an essential role, and if not all, the digital interactions from social media and gaming to digital art or events.
How can Web3 impact marketers?
Limited access to user information
Web3 is more related to data privacy for users, and currently, most businesses earn money depending on the information they collect from the users. They either use it to make entire use of marketing strategies or sell to third parties. The supporter of web3 believes that the customers should play an active role in using their data efficiently and carefully share their data with whom they are sharing while considering the immense value it entirely holds.
It may make it harder for marketers to collect consumer data effectively, and it will also force them to stay transparent with the information they collect and use when finding creative ideas that help reach the target audiences.
A more community-focused strategy
Web3 is more about redistributing the entire power to the other average consumers, and the idea will help consumers make effective decisions and promote interesting ideas. With this shift, marketers can even learn more about building a strong community. As distrust of brands and how they use the data grows, the community is much more important than ever.
How will brands own their data on Web3?
Web3 will give authority to the individuals to own their data and receive compensation for the time they spend and the content created on the web. The opportunity in Web3 for creating content is limitless. With the movement in this next iteration, PR pros will help clients to build their digital platforms for sharing the unique content they create. The process is all about developing a website and uploading the blog content. It helps the brand to build its own digital world where the audiences and the followers can interact with the brand they prefer to use the most.
The communicator can even create a better customer experience when they enter a digital space owned by a company, the same as creating a physical brand activation. When you layer PR campaigns with physical and digital activation that divide a brand’s owned property is a great place to start considering the things that Web3 public relations pros can do.
NFTs are a great example to consider for owned content on Web3. An NFT that provides a representation of digital or physical artwork on a blockchain eliminates the need for a middleman. Further, it allows content creators to collaborate directly with their audiences easily.