If you’re developing a blockchain project, it is now more important than ever to adopt an effective Web3 marketing strategy in a cost-efficient, accessible, scalable, and user-centric way. The Web3 market has reached its mature stage, and now is the time for eager blockchain startups to slow down and figure out a more methodical approach to Web3.
As more people are moving from Web2 to Web3, more Web3 startups have started using more conventional Web2 marketing strategies. However, there are still significant differences between Web3 marketing tactics and their Web2 equivalents, particularly when it comes to the early marketing phase of a company.
This article will help you fully understand the benefits of adopting Web3-exclusive marketing tactics and the top 4 tactics that work best for your next blockchain project.
What is Web3 Marketing?
Web3 (or Web 3.0) is a concept of decentralization of the Internet. Unlike Web1, which is read-only, and Web2, which is more social-centric, Web3 is built on a foundation consisting of the core ideas of decentralization, openness, and excellent user utility.
While Web2 marketing is mainly powered by user data, Web3 makes use of different marketing techniques: nurturing communities, creating content, and promoting elaborate and creative experiences through the likes of NFTs and the metaverse.
Web3 marketing also successfully addresses data privacy issues in current marketing approaches. During Web2, platforms and businesses such as Facebook and Google were in charge of data collection and management. However, with Web3, user data will be stored on a decentralized network that no one owns. In turn, Web3 marketers will have to be more adept at producing relevant and creative content for the target audience.
The rise of DAOs (Decentralized Autonomous Organizations), for example, is a great instance of a platform to enable the transition from Web2 to Web3. Consumers are no longer tolerant of monopoly over information and data, which gave way to the development of infrastructure that prioritizes community and people over pure profits.
Key elements of Web3 Marketing
Web3 has an impact on all marketing techniques and goes beyond the use of websites, social media, and SEO. Furthermore, it enables marketers to provide targeted advertisements and improves customer experience through interactive publicity stunts. There are 4 main aspects that Web3 marketing can be distinguished from the current Web2 marketing:
Ubiquity
We all understand “ubiquity” to imply very commonly, which suggests that there is no limit to how this marketing style can be used. As a result, Web3 must be accessible via any device and from any application. However, it makes no difference if the number of internet users increases on a daily basis. There are virtually no limitations to using the Web3 marketing strategy, regardless of time, location, or device.
Decentralization
Web3 marketing emphasizes decentralization. It indicates that no company will have centralized control over data because it will be accessible in multiple locations at the same time. Furthermore, intermediaries will no longer exist, reducing the likelihood of server failure and information theft. Things like the worldwide Facebook failure will never happen with Web3.
Artificial Intelligence
Web3 and AI technology are growing in synergy, and the Web3 platform will enable many advancements in the AI industry. AIs will be able to crawl accurate data instantly thanks to blockchain's distributed ledger technology, allowing them to drastically improve their learning process.
Virtual Reality
Virtual reality is unquestionably an important component of Web3. Metaverses have exploded in popularity in recent years, with many brands, including Nike, Facebook (Meta), and others, already establishing virtual brand empires. These virtual worlds are opening up a new world of possibilities for the marketing industry. Marketers can now take advantage of previously unavailable digital real estate.
Benefits of Blockchain Marketing for your Web3 Startup
Customer behavior is shifting towards a more decentralized attitude, and therefore, marketing has to evolve as well. Concerns about data and ad fatigue are driving users away from traditional corporate marketing attempts. This is where blockchain technology comes in and disrupts the modern marketing landscape.
More secure server
Server failures in previous web eras resulted in platform shutdowns, causing massive losses for brands and businesses. This issue is undoubtedly familiar to the Facebook and Google suites as they work on centralization. Using a distributed network to support a Web3 system eliminates the risk of platform crashes caused by centralized server failures. Even if one node or network of nodes goes offline, the distributed network will continue to compute.
Elimination of intermediaries
Data centralization is a feature shared by the previous phases of the Internet, 1.0 and 2.0. Google and Facebook control vast amounts of personal data, making them vulnerable to data manipulation and violations. Through the transparency and accuracy of blockchain technology, Web3 technology eliminates this challenge.
Reduction of data theft
In reality, if the previous web performed well, there would be no need for web3. Unfortunately, this was not the case, as Web2 exposed user data to theft vulnerability. Fortunately, Web3 marketing is here to save the day from data fraudsters.
Full ownership of data
Reducing user data exposure and access to their data improves security. Furthermore, because users will not require an intermediary, reliability is guaranteed. Blockchain makes this happen. This is possible because Blockchain confirms and documents pseudonymous transaction ownership. It is done in a long-term and verifiable manner that keeps your data private and limited.
Because transactions are chronologically ordered, blockchain data cannot be altered. The invention of Bitcoin brought the first application of Blockchain to public attention, and it has since been introduced in many tech startups.
Extended reality
The development of web3 enables the use of numerous applications in a three-dimensional layout, such as virtual reality, augmented reality, and so on. It is a more intuitive method of comprehension and benefits users more than two-dimensional situations.
4 Best Web3 Marketing Tactics
So basically, Web3 is a concept for a new generation of the World Wide Web based on blockchain technology, which includes principles like decentralization and token-based economics.
If you are a Web3 developer with your own Web3 project, you must ensure that it reaches the people in order for it to be widely adopted. You must carefully analyze your business decisions while remembering that the future is always here and evolving.
There are many ways you can achieve that, and in this article, we have compiled the 4 most important Web3 marketing tactics you need to know.
Tactic 1 - Build your own Non-fungible Tokens (NFT)
After becoming popular in 2021, NFTs are now pretty common in the tech and finance community worldwide. NFTs are digital assets such as art and games that are documented in Smart contracts. Furthermore, NFT designs are unusual, and the chance of purchasing a knockoff is almost non-existent.
NFTs are now so widespread that groups are springing up to bring token holders from all over the world together. These communities are largely virtual, but there are plans for them to meet in person. Consider the number of people who are buying and selling valuable NFTs in one location.
There is already a significant community for NFTs, so don't miss out on the chance to promote your company there. Creating NFTs for a brand can accomplish a number of objectives, including:
- Increased brand awareness and reach.
- Scarce encounters and limited access
- Increased brand loyalty.
Tactic 2 - Pick the right Social Media channels
In terms of web3 user popularity, Twitter and YouTube are at the top of the list. They've changed online communication and introduced a slew of new tools to improve the user experience. Furthermore, memes are the current monarchs of social media and a simple but effective technique of publicly sharing the complexities of Web3. However, social media companies are being accused of violating users' privacy and selling their data. Clients want their data to be private, which is why decentralization is necessary.
Web 3.0 has resulted in exciting improvements in social media marketing. Because of the decentralized nature of Web 3.0, for example, there would be decentralized apps known as dApps, and users would take ownership of their data rather than a centralized authority.
Tactic 3 - Do not be afraid to invest in Paid Media
Paid marketing is a universal practice in most traditional businesses, and it is no different with Web3 enterprises. Making sure your project has the correct combination of Social Media Marketing (SMM) via keyword-based marketing and paid ads via Pay-Per-Mille (PPM) or Pay-Per-Click (PPC) will go a long way toward helping your project reach its target audience.
Paid promotion for Web3 and blockchain initiatives is most effective on Twitter, YouTube, and Google Search, where there is a significant audience of crypto aficionados. This can lead to higher conversion rates.
Tactic 4 - Leverable your Global Community
Building a community is critical for the success of any marketing campaign in today's day, as any marketing professional understands. A community can help spread the word about your product or service by providing a ready-made platform for your marketing message.
Furthermore, a community can provide useful feedback and insights to help you enhance your marketing plan. There are numerous methods for building a community around your marketing initiative. One popular approach is to build a social media profile or page for your project.
This provides a central location for potential customers and followers to learn more about your project and communicate with other members of the community.
The most prominent platforms to grow your blockchain communities include:
- Discord
- Telegram
- Medium
DAOs are a popular way to develop a blockchain community. There is no predefined purpose, architecture, or shape for a DAO. It is a cross-jurisdictional (local, worldwide, or anything in between) community of friends or strangers working towards a shared objective, aided by smart contracts, incentives, governance, and tokens.
You may also expand your community by arranging events or setting up online forums where people can talk about your product or service. Whatever methods you use, keep in mind that engagement is the key to a successful blockchain community.
Make sure you communicate with your community members on a regular basis and provide them with meaningful and entertaining information. You will be well on your way to assuring the success of your marketing effort if you do this.
Need help with your blockchain marketing tactics? vBase will help you figure out the best strategy for your next Web3 project with the solution best suited for your objectives and goals. Find out more at Blockchain Marketing with vBase to understand how we helped funded blockchain startups such as Grindery and Islander launch their next marketing campaigns or product rollout to the web3 communities.
Contact us via Telegram: +84 962 618 954 or book a meeting via the link HERE for a 1:1 consultation to find the best Web3 marketing tactics for your company.