It’s easy to start a web3 marketing strategy if you have the resources and infrastructure to meet your marketing goals. Starting a Web3 marketing strategy can feel overwhelming if you need to familiarize yourself with the concept. Savvy marketers have heard of web3, but still, many need to learn what that means for business.
Web3 or Web 3.0, what’s the difference?
First, let’s clear up the common confusion between web3 and web 3.0.
Web3 is a new and evolving concept for how we do business and utilize data, technology, networks, and the internet. Like Blockchain, there’s a focus on immutability, trust, and decentralization. Web 3.0 describes Tim Berners-Lee’s concept of a semantic web.
Following web 1.0 and web 2.0, web 3.0 is the third iteration of the internet.
Web 1.0 describes the static read-only version of the internet. Think of personal blogs built on WordPress URLs linking to other URLs as an example. This first wave of the world wide web lasted from 1994 to 2000.
Web 2.0 is the current internet iteration. Here user-created content and the ability to engage through social media platforms are layered into web 1.0 experiences. This second wave of the read-write internet brought us apps and made social platforms like TikTok some of the most used corners of the internet. As we layer on elements of decentralization to web 3.0, web3 begins to emerge along this new form of the internet.
The term web3 started in 2014 in the Ethereum Blockchain community. Since then, it’s taken on broad meaning and an even broader potential impact on future data storage and business activities.
This third wave of the internet is still actively being defined, but there are some core guiding principles communities have adopted on the road to building the web3 world.
- Decentralization: Moving sole ownership and controls from a few centralized entities to the larger community of builders and users.
- Permissionless: Everyone can participate without exclusion.
- Trustless: Economic mechanisms are used as incentives instead of relying on trusted third parties.
- AI and Machine Learning: Leveraging machine learning and AI technologies allow for streamlined processes and transactions with a reduced need for human inputs.
- Seamless Transactions: Removing outdated payment systems and processes with native payment or transactions creates a more seamless way of connecting users with goods and services.
- Metaverse, User Interface, AR/VR: Like Fortnite or Roblox, brands leverage immersive environments and interfaces. The Metaverse transforms digital spaces to have more of the look and feel of real-life physical events and interactions.
Applying Metaverse to your business
When you Google Metaverse, you’ll find varying definitions of the term. That’s because we’re all still actively building and creating it. To be simplistic, imagine if everything in your digital experience connected across platforms seamlessly, like the game Roblox or Fortnite.
The Metaverse has the potential to recreate daily actions in augmented reality. For example, luxury retailers like Gucci, Balenciaga, and Louis Vuitton are making millions in the Metaverse.
Decentralization is a critical component of users’ Web3 experience. When moving from a Web2 model, businesses want to focus on some key aspects. This can include implementing blockchain technologies, decentralizing user data, increasing security, and adding a 3D interactive interface to digital experiences.
Once project stakeholders understand the potential ways to begin interacting in the Metaverse, it’s time to shift practices from the existing Web2 marketing strategy.
Use Non-Fungible Tokens to boost your marketing strategy
Non-Fungible Tokens, also called NFTs, are another way to add value to your project and create a unique channel for your web3 marketing strategy.
A Non-Fungible Token is a type of unique digital asset that uses blockchain technology. Further, decentralized digital ledger, Blockchains hold records of all transactions to ensure that digital asset ownership is tracked and transferred securely.
NFTs can represent ownership of a wide variety of assets, including art, music, personal data, videos, collectibles, real estate, and more. Unlike fungible tokens such as Bitcoin or Ethereum, each NFT is unique, meaning that one NFT can’t be exchanged for another NFT of the same value. This is why NFTs are also known as digital collectibles.
Digital collectibles and NFTs are a fun and interactive way for audiences to engage with a brand. For example, brands can provide NFT holders additional perks, incentives, and loyalty rewards. There are endless opportunities for NFTs to create utility and assign ownership to your audience.
Before deciding if NFTs are right for a brand, you’ll want to chat with an experienced NFT consultant and source a qualified team. Launching a poorly planned NFT project can draw negative attention to a brand. As a result, audiences can lose interest in the brand leading to a complete project failure.
Start a Web3 marketing strategy
Once you understand some industry options that enhance traditional web2 initiatives, you can start a web3 marketing strategy.
First, set your goals, objectives, and key performance indicators. Clearly defined goals create a smooth marketing program and allow stakeholders to continually pivot strategy to optimize marketing efforts. Examples of marketing goals include brand awareness, growth, and conversions.
Next, do your research. Understand who your target audience is and how your competitors are reaching them. Your project should have completed a competitor analysis in the early startup phase. Use this research to help determine who needs your product or service. A demographics analysis outlines each of your primary and secondary customer profiles.
Before you identify resources and infrastructure to make your strategy successful, you’ll need to plan which initiatives you’ll implement. Examples of initiatives include Social Media, Search Engine Optimization, Paid Ads, Community Building, and Influencer Marketing, to name a few.
The final stage before launching a web3 marketing strategy is building your infrastructure. This can include a roadmap, content calendars, posting schedules, campaign briefs, best practices documents, and a brand-specific tone and voice guide. The infrastructure you build should directly support your planned initiatives. Check for alignment in your planning and consult with your marketing and design teams to be sure you’ve found all opportunities and potential risks.
Launching a Web3 marketing strategy
Once you set goals, do your research, identify initiatives, and build your infrastructure, you’re ready to launch your Web3 marketing strategy.
Marketing strategy questionnaire
Lastly, use this list of questions to help brainstorm an impactful Web3 marketing strategy. Whether implementing an omnichannel approach or pivoting on an aspect of the overall program, these questions align marketers with business needs and bring light to past, present, and future initiatives.
General marketing questions
- What current marketing initiatives are operating, and are they successful?
- What channels are being leveraged now or in the past?
- Is there existing marketing staff, or is it time to hire new marketing professionals?
- Is it more effective to work with an agency or keep marketing in-house?
- Does the company utilize a content calendar?
- Does the company track marketing efforts and how they impact sales?
- Is there a current marketing budget, or does one need to be created?
- What is the product/service, and does it have new features or offerings?
- What marketing goals are stakeholders most interested in achieving, and what is that timeline?
- Is the company looking to campaign around a new milestone or big launch?
- What are the primary and secondary audiences, and how have they responded to past marketing initiatives?
- Has the company completed a competitive analysis?
- What is the current ROI on marketing spend?
Search engine optimization SEO
- What is your current SEO strategy?
- What are your current organic rankings?
- Does the company have a Google My Business Listing?
- Who developed the website, and does it need updates, technical or other?
- What CMS does the website use, and does it need maintenance?
- What is the goal for customers coming to the website?
- Does the company engage in reputation management?
- What are the KPIs used to determine whether that is successful?
- Does the site have a Google search console installed?
Search engine marketing SEM
- Does the company run Google, Bing, Facebook, or other search marketing ads?
- What is the current ROAS? (Return on ad spend)?
- Who has access to your Google ads account, and are they managed by an agency or vendor?
- What are the KPIs used to determine whether ads are successful?
- Is there a current monthly budget for ad spend?
- What are audience/demographic filters currently implemented?
Organic social media
- What are the current platforms, and what frequency are they posted to?
- What are the audience sizes and engagement?
- Does the company work with Influencers?
- Are socials managed internally or externally?
- Is there a content calendar?
- Are social listening tools being used?
- Who makes content, and who is responsible for editing/quality control?
- What organic posts/campaigns have been successful/unsuccessful in the past?
- What are the goals of organic social?
Email and newsletters
- Does the company actively engage in email marketing?
- Does the company utilize a content calendar, and if so, what platform do they use?
- If an eCommerce business, how is traffic driven by email marketing attributed to revenue?
- What are the KPIs used to determine whether campaigns are successful?
- Does the company place ads in emails?
Events and network marketing
- Does the company host/sponsor any events or meetups, digital or in-person?
- Do people from the company attend industry events?
- What are past successful/unsuccessful industry events?
- Does the company keep a list of important industry events?
- Does the company have business development, partnerships, or community management functions?
- Are any company employees well known in the industry or seen as thought leaders?
Video marketing
- Does the company have a Podcast or Youtube show?
- Does the company run paid video ads, now or in the past?
- Has the company created video content before, and what was successful/unsuccessful about it?
- What are the KPIs to determine video content success?
- Will the company make video content in-house or work with an agency/vendor?
Web3 marketing
- Has the company considered launching NFTs?
- What type of NFT would be appropriate and authentic, and what is the utility?
- Does the existing audience understand NFTs, or are they new to the space?
- Would your community understand and support a whitelist?
- What type of interactive experiences does the company currently offer to users?
- Does the company have a current Web3 transition plan?
- Has the company hired internal teams experienced in Web3 or Metaverse?
The last step, turn your plans into a strategy.
Now that you and your team have explored all possible angles, it’s time to organize the project strategy. Project management tools are a great place to keep organized. Everything in your strategy must get added to your marketing roadmap. Additionally, you’ll want to add assigned due dates and resources to each marketing initiative.
Want help creating a winning strategy?
Whether you and your team need marketing consultation or some help answering the questions, Pan Crypto can help. visit our website at pancrypto.io or join our Telegram channel at t.me/pancrypto to stay updated on our latest news and developments. You can also follow us on Twitter at @pancryptoxyz.