Web 3 Technology- A Whole New Trend in Marketing

What are the Main Features of Web3 and Metaverse?

Immersive Experience

Web3 and Metaverse work on the principle of creating an immersive experience for the user. The new VR gaming headsets by companies like Sony PlayStation have been successful in providing an immersive gaming experience to the wearers. The technology empowers the user to take an Avatar, and then he or she can go ahead and try the products in a virtual world. Virtual events and virtual conferences are also gaining popularity, as they intend to provide an immersive 3D experience to the participants.

Decentralized and Accessible

Web 2.0 made it easier for the retailers to make their mark in the minds of the consumers, by making use of the technology that helped in creating better visibility. This improved the business side for the retailers, but the consumers always felt dissatisfied, as their private data was being shared with advertisers for promotional services. Web3 will make it easier for the end users to control the extent of data that can be shared with the big technology giants who right now have complete monopoly in the market with respect to sharing and commercial use of consumer data.

Web3 Does Not Require Permission

Web3 does not require permission, as the central authorities do not have the power to decide who will get access to what services. Also, it does not require trust, which eliminates the need of an intermediary for a virtual transaction to take place between two or more parties. This technically protects user privacy in a better way, as intermediaries are not involved in the collection of the data.

Decentralized Finance or DeFi

Web3 works on the new technology platform called ‘Blockchain’. A blockchain helps in carrying out real world financial transactions without the help of governments or any of the banks. The transactions are digital in nature and pieces of data are stored in the form of blocks on a virtual platform.

Web3 and Metaverse Work by Building Community and Collaboration

Web3 and Metaverse as a technology work on the basis of community building and collaboration. Any 3D virtual space will have fellow participants or users who will form a community for discussion and trading. Trading and Buying and Selling of assets in the virtual world require strong community interaction, as it build trust and loyalty among the users.

Web3 and Metaverse Involve Digital transaction of Goods and Services

In Web3 technology transaction is digital and digital currency called cryptocurrency is used for transactions. Users can trade, build, play, work, sell and interact with each other on the basis of these digital transactions.

What is Web3 Marketing?

When we talk about marketing today, we talk about digital marketing which involves techniques like website optimization and SEO (Search Engine Optimization).  Let’s look at it as a process which involves the way in which marketing has evolved over a period of time. Traditional marketing with time changed into digital marketing, where the whole concept of marketing moved online. In Digital Marketing Advertising became more effective, personalized and measurable. Now, with the development of Web3, marketing has changed its focus towards providing an enhanced customer experience and more interactive opportunities. So, what can be better that this situation where a marketer is provided with the required tools to show more targeted ads to his or her consumers.

Web3 marketing improves the marketing experience further. It revolves around enhancing the user experience which helps in providing rich and more interactive advertising opportunities to the marketer. This could also mean creating a better marketing strategy on the basis of improved data collection and analysis with the help of various Artificial Intelligence (AI) and Machine learning (ML) tools.

What are the Main Features of Web3 Marketing?

Semantic Web (SW)

This technology will enable better communication between computers and humans. It makes space for features like creating data stores on the web, building vocabularies, and writing rules for handling data.

Artificial Intelligence (AI)

Involvement of AI in marketing will allow better interpretation of data by machines, which would lead to more informed decisions for strategy creation. Also, Generative AI models like Dall-E, Stable Diffusion, and Midjourney use AI algorithms to generate creative content on a small prompt by the user. This Web3 technology will revolutionize the way quality and creative content is created, which will definitely change the way content creation process works for an organization. Web3 technology will allow the companies to create a seamless connection between the website content and the users, which will help the companies to create more personalized and easily accessible experience for the users in return.

Blockchain

Blockchain is helping the creators in packaging and monetizing their content in various innovative ways. As a marketer, Blockchain will help you in connecting directly with the consumers directly and would also allow the consumers to have better control over data privacy. So, Web3 will work on making marketing more transparent and effective.

3D Experience

Web3 looks at providing an immersive 3D experience to the user which means the user can also make more informed decisions for himself or herself based on his experience with the products or services in the virtual world. So, Web3 will provide a beneficial partnership for both the marketers and the consumers.

How to Market your Product in Web3 and Metaverse

Attracting the Customers

Customers need to be attracted to the various Metaverse Platforms in order to participate in this new marketing revolution. The various steps that can be taken to attract the customers include demos in the metaverse, promoting virtual reality solutions, and providing free virtual reality experience to the users.

Transaction in the New Technology Platforms

Transactions would involve use of digital currency like cryptocurrency and the various transactions could be buy, sell, trade, build, work, and play. To make transactions easy in Web3 and Metaverse virtual try and buy options should be made available for the consumers.

Fulfilling the Purchase Promise in the Real World

It is going to be a task for the companies to manage the purchases in the virtual world. A process should be established for delivering the purchases made in the virtual world as an actual product in the real world.

Customer Service in Web3 and Metaverse

Providing excellent customer service is the cornerstone of success for most organizations. So, how do we provide customer service in metaverse. The process could involve talking to a virtual customer service agent or by providing a post installation AR support in the home of the customer.

So, Web3 marketing has still a long way to go, but with rapid changes in AI technology and Machine learning tools it will surely create a new strategic field in marketing. Marketing with Web3 will provide the marketers with a whole new set of possibilities for creating a more loyal customer base with the help of various innovative technology tools.