Web 3.0 and The Digital Marketing IndustryJun 04, 2022
Web 3.0 and The Digital Marketing Industry
Digital marketing or, simply put, a marketing campaign that involves digital communication; employs the use of the internet and electronic devices for advertising and selling products to the targeted consumer. Digital marketing uses sponsored ads, digital videos and images, email, and social media posts to convey promotional messaging and digitally connect with potential customers.
Ever since its introduction in Web 1.0, the digital market has immensely progressed till Web 2.0, and with the insertion of blockchain, digital marketing will now adopt Web 3.0. In this article, we will discuss the changes that are dynamically caused by the integration of Web 3.0 and digital marketing.
The Direction to Web 3.0 - An Overview of How the Internet Transitioned
Ever since its availability in the 1990s, the internet has experienced diverse stages of evolution till this date. The progression of Web 1.0 has been clearly outdone by that of Web 2.0, but what Web 3.0 has to offer in the future is beyond any of our imagination. We shall look into how the internet has transitioned and transformed over the time in terms of its inclusion in the digital space:
The First Phase of the Internet – Web 1.0
Web 1.0 refers to the first stage of worldwide internet evolution, whereby; a set of static websites operated, and no interactive content was offered to users. The most defining characteristic of Web 1.0 is its read-only feature, whereby users can only search for information and read it but not engage or comment.
There was a vast majority of consumers compared with content creators as advertisements were banned and posting images and videos was discouraged. During this period, computers were merging with telecommunication technology, and researchers were more focused on developing hardware to improve the quality of the internet.
Current State of the Internet – Web 2.0
The read-only feature of Web 1.0 evolved into a more engaging and interactive web, known as Web 2.0, which is presently operating worldwide. Also known as the participative social web, Web 2.0 includes dynamic content that responds to user input and offers diverse forms of interaction.
This feature enhanced the feasibility of digital marketing by allowing users to not only advertise their products but also sell and purchase stuff online. Ever since the internet became accessible through electronic devices, the growth of Web 2.0 has exceedingly increased, and now with more progressive technology, Web 2.0 is transitioning towards Web 3.0.
The Future of the Internet – Web 3.0
The blockchain-based Web 3.0 is a decentralized internet that incorporates artificial intelligence and machine learning to enable the use of the semantic web. Some of the aspects of Web 3.0 that are presently experienced include Non-Fungible Tokens, blockchains, distributed ledger, and Augmented and Virtual Reality community (metaverse).
Metaverse allows users to communicate, socialize, share information, and conduct secure financial transactions in virtual reality without a centralized authority. Web 3.0 has not yet been implemented in the web infrastructure, which makes it challenging to understand the full extent and features of Web 3.0.
What Changes Does Web 3.0 Bring Across Digital Marketing?
The immersive technology of Web 3.0 entirely changes the dynamic of digital marketing in terms of the platform and marketing strategies that connect the retailers with the consumers. We shall see what changes Web 3.0 brings for its users across the digital marketing industry:
Digital Marketing in Metaverse
By indicating a transition from traditional marketing towards a three-dimensional and more engaging marketing strategy, metaverse promises to change the landscape of digital marketing completely. The features of metaverse are tailored in a manner that allows brands to find a like-minded community of consumers, where they can easily expand their digital business.
Since metaverse is a three-dimensional virtual environment, it has become slightly more challenging for brands to entice their customers in terms of innovative content. Brands can use virtual reality to give their target audience an immersive and interactive experience of their products without being in the same physical store.
Tokens as the New Currency
Vouchers or loyalty points used to shop digitally in Web 2.0 have been replaced by digital collectibles or tokens in Web 3.0. Cryptocurrencies will be used as a mode of payment for the transactions of the products; an excess of these tokens can be utilized to vote on the future of brands.
A common blockchain used as a token is Non-Fungible Tokens, allowing users to claim ownership of a digital asset on the web. Consumers with ownership of NFTs can sell them in exchange for cryptocurrencies, and marketers can create NFTs for their products and establish a direct connection with their customers.
The Need for Diverse Content
Brands in metaverse have to advertise virtually; however, since metaverse has an immersive technology, they need to do a lot more than virtual billboards to entice their customers. To keep up with the fast-paced virtual reality, brands have to produce diverse and increased content such as videos, ads, and posts to keep their consumers engaged.
Brands that design marketing strategies that connect to real-world experiences and innovatively highlight their product or service are more likely to build authentic relationships with consumers. Simply put, digital marketing in Web 3.0 is almost similar to marketing in Web 2.0, except that it requires a lot more effort, creativity, and innovation.
How Will Web 3.0 Integrate into the Current Digital Marketing Industry?
Integrating the current digital marketing industry with Web 3.0 will allow digital marketing firms to provide a more personalized experience that can be accessed on any electronic device with authentic data-sharing capabilities. We shall see how this digital innovation shall integrate into the industry as follows:
Decentralized Nature of Web 3.0
Web 3.0 is a huge advocate of a decentralized internet, which allows the digital community to self-govern and improve user and corporate accountability. As a result of this feature, digital marketing firms will no longer be restricted by policies set by giant tech organizations that have centralized the current internet.
A professional digital marketer will be able to develop groundbreaking content capable of intriguing their target audience and will be able to build a direct relationship with their consumer. Since most Web 3.0 assets are open source, the marketers and their consumers can freely interact without any threat of privacy breach.
Create Content with NFTs
Web 3.0 will give rise to entirely new revenue collection methods, many of which will inevitably require the usage of NFTs and blockchain technologies. With blockchain technology, users can create limited edition content of Non-Fungible Tokens and distribute it amongst their most ardent sponsors.
Brands can advertise their NFTs on posts, blogs, videos, or images to increase their brand’s outreach. As a result, marketers can directly communicate with their consumers and even offer them digital collectibles to increase brand engagement.
Transitioning from Web 2.0 to Web 3.0 can be challenging for marketers and inevitably more difficult to adjust to recent changes in the semantic web. One of the best ways to attract consumers is to think out of the box regarding content creation, such as hosting a virtual event in metaverse that will increase the brand’s outreach.
Collaborating with a reputable digital marketing team will facilitate a firm in overcoming the difficulties associated with shifting to Web 3.0. It will also provide the brand with the assets required to compete in the crowded digital marketplace while adapting to the digital community.
Web 3.0 will play a prominent role in shaping various fields in virtual reality in the coming years, notably in a digital business marketing agency. During the initial stages of the shift, digital marketing can be overwhelming for marketers and consumers. To make this entire ordeal simple and uncomplicated for the users, we have discussed the changes and the integration of Web 3.0 and digital marketing.
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