Long gone are the days when many viewed marketing as a weird advertisement in a magazine, billboard or in the middle of prime time television. The interactive internet revolution, also known as Web2, has changed the world of marketing forever, with Web3 looking to bring even more advancements to the world of marketing.
With nearly 5 billion social media users worldwide, Web2 marketing has never been more critical for brands in this competitive age. Meta (formerly Facebook), which also owns Instagram and Whatsapp, has become the cornerstone of social media not only for many users around the world, but also for brands. The specific targeting of ads on these platforms has changed the world of marketing forever, giving businesses access to more consumer data than ever before.
How it works?
Meta Business Suite (formerly known as Facebook Business Suite), allows small businesses to minimize their advertising costs by targeting specific groups of people based on a number of different aspects such as their age, profession and their location – going so far as to collect data on customer behavior, interests, events they have attended and more. Simply put, a Meta user might search for a New York-based Italian restaurant through the app, prompting Meta to push for more Italian listings on the user’s News Feed.
While some users may seem indifferent to their lack of privacy, others may feel that their personal data or information has been breached – something that was seen as a scandal during the Facebook/Cambridge analytics data scandal. The problem with this form of marketing is not that users are misled about the use and privacy of their data (which is easily accessible in app settings and can be found on their website), but rather than Meta and the companies involved using this data purely platform for ads are the only ones reaping the benefits – leaving no crumbs for the users themselves.
Enter the world of Web3 marketing
What differentiates Web3 from Web2 is the decentralization of this new era of the Web. Web3 applications, or decentralized applications (better known as DApps), are based on blockchain technology which, thanks to decentralization, no longer gives companies the power to own user data without their consent. In the world of Web2, companies provide users with a service in exchange for their personal data. Web3 allows users to participate without their personal data being compromised or monetized. Companies in the Web3 space cannot freely use user data, how does this make marketing different in this space? While in Web2 companies provide a service in exchange for personal data, Web3 allows anyone to participate without their personal data being monetized. This then leads to the question of how different marketing is in Web3.
What is Marketing in Web3?
The Web3 marketing space seeks to explore trends and new technologies, providing users with sophisticated and interactive experiences, while giving them the power to control how their data is used. Web3 marketing tactics go beyond simple photos or videos, but rather dive deep into the world of NFTs, metaverse, virtual communities, social or reward tokens and much more.
The Future of Web3 Marketing
The future of Web3 marketing is truly vast and does not have a single direction that it should follow. The Metaverse is certainly one of the most important and anticipated aspects of Web3, with companies such as Meta and Microsoft being at the forefront of this new technological era. The Metaverse is a shared online space that combines a number of physical and virtual realities, allowing brands to deliver creative and interactive new marketing strategies like never before. With this new online virtual space set to accelerate at lightning speed, there is no doubt that metaverse advertising would be a key feature that brands could take advantage of.
GALXE, Web3’s largest credential network, takes the power of data to the next level, rewarding users for choosing to share their data with the network, helping brands build more communities and products. robust in the Web3 space. GALXE empowers Web3 users to mine a number of blockchains and reap the rewards based on their credentials, bridging the gap between Web2 and Web3 marketing.
Marketing on Web2 and Web3 has shown to take different forms, causing companies to change their marketing tactics. Web2 marketing is primarily driven by user data, while Web3 is reaching for a mass scale of different marketing techniques – instead promoting elaborate and creative experiences through NFTs and the metaverse. The agenda in the Web3 marketing world is pushing for greater initiative and community engagement, where brands find it important to be part of communities, bringing together people with common goals and giving everyone equal opportunity to make decisions. , as in DAOs.
The Likes of GALXE empowers businesses in the Web3 space to continue using Web2 marketing tactics while rewarding both the organization and users through their learning model, rewarding users for accomplishing chain tasks. With the likes of GALXE bridging the gap between Web2 and Web3 as well as the countless Web3 marketing tools available to brands – there’s no doubt that marketing in Web3 will be both challenging and rewarding for everyone.