It goes without saying that marketers are highly skilled at navigating evolving landscapes, adapting to change and adopting new technologies. Our industry attracts inquisitive minds and creative personalities. Over the past few years we have risen to meet unprecedented challenges including a global pandemic and economic uncertainty. But now, as Web3 matures, we are looking at a new world, one where the physical and digital intertwine like never before. Are marketers prepared for this new world? And how can we adapt to meet the challenges of Web3?

Web3 represents the next phase of the internet. It has the potential to disrupt the way economies and laws are governed and is guaranteed to affect every touch every point of business. When it comes to marketing, the impact of Web3 on our industry is huge. Web3 will influence how products are developed and how services are delivered, as well as marketing operations, budgets, community building and customer engagement. 

Community and connection

At it’s core, Web3 is built upon a vision of decentralization. This vision uses blockchain technologies and token based economies to bring users a unified, authoritative and hyper-secure internet. Web3 will replace organizational and governmental control with stakeholder ownership, bringing power to the user and away from corporations. 

This shift gives marketers an opportunity to build and engage with their online communities like never before. If the ethos behind Web3 is individual empowerment then brands need to harness deep customer connections. In the world of Web3 this could include NFT’s, exclusive digital content, immersive experiences and personalized metaverse marketing. Some organizations could leverage their metaverse communities and look for support with product design and iteration development. 

Data and privacy 

A fundamental part of a decentralized internet is data access and privacy. Web3 users have full control over their personal data, meaning individuals will have the final say on when and how their personal data and content is shared. For many businesses, data management and personalisation is already a challenge, Gartner reported that 63% of digital marketing leaders struggle with delivering personalized experiences to their customers.* Web3 privacy laws and regulations are yet to be formalised and raise questions around content ownership, distribution and scalability. 

The Web3 world

In a Web3 world marketers need to build a sense of trust and credibility to resonate with users seeking a sense of belonging. A strong Web3 strategy will allow marketers to go beyond videos and ads, and create engaging, personalized, community focussed content. Those who build a genuine and authentic brand identity across the physical and digital worlds will be the first to grow their audience. 

When it comes to data, there are many questions about Web3 that are yet to be answered. Marketers are right to see this as a challenge but what we do know is that quality is key. 

The Simply put, marketers must adapt their strategies today to suit the Web3 world of the future. 

*https://www.gartner.com/en/newsroom/press-releases/-gartner-says-63–of-digital-marketing-leaders-still-struggle-wi