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The internet can feel vast and unknowable at times, but ultimately it’s a tool with endless power. As marketers, we are constantly looking for the latest, most effective ways to engage and reach our audience—and with the rise of Web 3 and decentralized technologies, it's now possible to take your marketing game to an exciting, new level.
Web3 enables brands to connect with their customers in unprecedented ways, with more secure, meaningful data and interactions. We are moving into a brand-new frontier, and savvy businesses will strike while the digital iron is hot.
So what exactly is Web3, and how can it maximize the success of your marketing strategy? Let's find out!
What is Web3?
Jumping straight to the question of “what is Web 3” is a bit like asking “Who is the half-blood prince?” While I could technically explain it to you right out, it won’t make sense without a little bit of context.
The internet has gone through a few major revolutions since its start in the late 1960s.
- Web1 - The introduction of the internet. For the first time, users were able to connect information and share resources with one another.
- Web2 - The main focus of this revolution was the interaction of web users, the sharing of multimedia content, and the integration of social networking.
Now, as more and more innovations happen in the tech sphere, we’re moving towards Web3, which is all about decentralization.
Even if you aren’t super familiar with Web3, you’ve likely seen - and even interacted with - parts of it. Think: the cryptocurrency blockchain, NFTs, and smart contracts.
Web3 enthusiasts get hyped about their ability to securely store and own data, meaning that they can make trusted, verifiable, secure transactions without the need for outside parties.
As a marketer, I love Web3 because of how many doors it opens for creative campaigns. I can collect and access data without any third-party platforms getting involved, and put that data to use for my data-driven creations.
I can even connect with my customers on a way deeper level by setting up virtual events and tokenized rewards to build brand loyalty and boost engagement. IRL companies like Burberry and Boohoo have used NFTs and other aspects of Web3 to expand awareness of their brand.
How to Use Web3 in Your Marketing
When we approach Web3 as a new frontier, it’s easy to understand that there are several ways to break into it for marketing. There’s a great big world to explore and design, and not even the sky can limit what is possible.
However, for those of us looking for some straightforward advice for marketing with Web3, here are some places to start.
Incentives For Engagement
Because so much of Web3 centers around the idea of ownership, there’s a huge opportunity to create an incentive for users to get invested in your company.
Let’s say you’re running a referral campaign, and want to create a fun, unique reward for your brand ambassadors. A brand-relevant NFT can be a great way to create a memorable reward for any engagement.
In order to have the biggest effect, it’s best to create incentives that encourage long-term collaborations. For example, you could give your brand ambassadors a share of the profits of any sub-sale of the original NFT. This can help cultivate brand loyalty far into the future.
Influencer Marketing
Because this iteration of the internet is so focused on community engagement, there will be an extra emphasis on campaigns that center relationships. This includes affiliate and influencer marketing.
Influencers are known for building strong connections and trust with their audience. This aligns perfectly with Web3's value of transparency and authenticity. By partnering with influencers, you can tap into their trust capital, creating a more genuine connection with your target audience.
If your campaign is going to include NFTs, working with an influencer can help create hype, and even allow you to bring in their specific aesthetic and inside jokes. This will get people even more excited to own your digital assets.
What’s more, web3 thrives on community participation and co-creation. Influencers can act as community leaders, and working with them lets you tap into their already curated network.
Airdrops
You may have clocked that a major part of Web3 is NFTs. This is because the goal of NFTs and other assets powered by blockchain is ownership and decentralized banking, highly valued concepts in Web3.
Airdrops are an event where you give away cryptocurrency tokens or NFTs, attracting people to your brand.
This strategy is especially useful for teams that want to incentivize user-generated content, increase brand loyalty, jumpstart a marketplace, and reward those willing to join a new platform.
People can hold these blockchain assets and build their reputation in the Web3 world.
Plus, who doesn't love the chance to win free stuff?
Bounty Campaigns
With its focus on community and ownership, the Web3 community will respect any company that is willing to give its users a chance to get involved. Bounty campaigns are just that.
They are campaigns in which users are rewarded for performing certain tasks, such as promoting your product on social media or writing blog posts about your project. You can even offer a bounty for people who find and fix bugs in your app or website.
Using bounty campaigns in your Web3 marketing will make your campaign more interactive and will help create organic exposure. It’s a great way to actively involve your audience in creating buzz about your products or services.
Plus, it’s great for building trust with your audience. By allowing users to get rewarded for their participation, you’ll be sending a strong message that your company values their contributions and wants to reward them for their efforts.
Preparing Your Brand for Web3 Marketing
Not every explorer is prepared to take on the new world. They must take stock of their skills and supplies to make sure they’re prepared for the work ahead.
Venturing into Web3 is no different. The things that people value in Web3 aren’t necessarily the same things they valued in Web2. Before you jump in, you’ll want a game plan for the following.
Strong Community
In the world of Web3, community is king – which means connecting to the right people and building your own network. You should make use of all potential channels to get your message out – including social media, forums, and messaging/gaming apps.
It’s also a good idea to focus on building relationships with influencers who can push your message to more people. Don’t forget to listen to your community too, as feedback can be incredibly valuable and can help you adjust your products and strategies accordingly.
Engaging Content
Web3 enthusiasts love to engage with well-thought-out content. You’re far more likely to get their attention with an educational video about the value of NFTs than with a simple post about your designs.
The goal is to show that you are as invested in helping the community as they should be in your project.
When planning your content, consider
- Educational/ inspirational “how-to” content
- Interactive videos featuring customers and industry leaders
- Interactive stories/ quizzes to engage the user
Making this a priority can help you ensure that people don’t just see your content, they also engage with it, which is key to succeeding in Web3.
Specific KPIs
With the values and structure of Web3 still in its infancy, many of the more traditional KPIs for success won’t be as helpful. Your team should focus on measuring
- Community Size - Growing a real, active community across platforms such as X, Meta, and beyond
- Active Engagement - how many people are voting on issues and engaging with content
- NFT Sell-Out Time - With a strong community and people who believe in your project, you should be able to get momentum and sell out quickly
- Advocacy & Word of Mouth - Have your customers been talking about you? Referring friends?
Focusing on these KPIs will keep your team on track to be a fully integrated Web3 powerhouse.
Web 3 Success
One of the pioneers of Web3 marketing was CryptoKitties. This app was built on the Ethereum blockchain that allows users to collect, breed, and trade digital cat NFTs.
The project gained widespread attention and popularity in late 2017, showcasing the potential of blockchain technology in the gaming and collectibles industry. They used various marketing tactics, such as limited edition releases, celebrity endorsements, and engaging with the crypto community, to drive adoption and create buzz.
CryptoKitties became so popular that it caused network congestion on the Ethereum blockchain and raised millions of dollars in venture capital funding.
If your company is more traditional, that doesn’t mean you can’t get in on the NFT party! Lots of businesses have dipped their toe into Web3 to great success including Macys, Samsung, Hot Wheels, and Taco Bell.
In 2021, Taco Bell launched a set of 25 taco themed NFTs, many of which were animated GIFs. For first-time buyers, these artworks came with the real-world perk of a $500 gift card.
Even with this being the brand’s very first look at Web 3 marketing, all their NFTs sold out in under 30 minuets, and they were able to raise a ton of money for their scholarship program. Not only did this campaign increase brand awareness and loyalty, but it doubled as a chance to show off the company’s values.
The Bottom Line
Web 3 marketing is not just about catchy slogans and pretty visuals. It's about revolutionizing the way we connect with audiences, fostering genuine relationships, and delivering personalized experiences that truly resonate. It's about creativity, innovation, and embracing the power of community.
I don’t know about you, but that’s a future I can’t wait to arrive in!
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