Technology is evolving at a rapid pace, so digital marketers must evolve with it. The internet as we know it today may not exist in the next 10 years. Although we view the internet as cutting-edge technology, there is always room for improvement. Relatively soon, the internet of today will be replaced by Web 3.0, and digital marketers must prepare for the inevitable switch.
What Is Web 3.0
Web 3.0, also known as Web3, is the next reiteration of the internet. Although Web 3.0 is a solid 5 – 10 years away from being ubiquitous, it is coming faster than you can imagine. The main concepts behind Web 3.0 are decentralization and artificial intelligence. Rather than a user telling the internet what they want to find, the internet will be smart enough to show it to the user before it’s asked.
The user will also completely control how their data is used and to whom it is being shown. One of the best perks of decentralization is the lack of governance. Any individual can hop onto Web 3.0 without being controlled or censored. In the end, the user will have complete and total control over their browsing experience.
How Web 3.0 Differs from Web 2.0 and 1.0
30 years ago, the internet began as Web 1.0 in its infancy. This late 80’s and early 90’s internet is coined as the “read only” internet, because users could not interact with any webpages. When you went to a website, you could only read and search for more information. There was no information sharing amongst users or the ability to seek out other like-minded individuals.
As the internet blossomed, it started to develop into Web 2.0. This shift occurred in the late 90’s and early 2000’s. Slowly, most websites were replaced by web pages that allowed for user connectivity. Web 2.0 is most known for its social media platforms. Users can now share their information with a website, as well as post their own content on the internet for other users to interact with. Under Web 2.0, most businesses have transitioned to having an online presence of some kind, with some businesses operating solely online.
In 2023, most websites are still using Web 2.0 technology. However, Web 3.0 is coming down the pipeline quickly. Web 3.0 will be completely unlike its predecessors because of its decentralized approach. This means that everyone will have access to the same information without the fear of being censored. Web 3.0 would solve many of the issues that have stemmed from the repeal of net neutrality.
Web 3.0 will also give users greater control over their private information. In today’s day and age, website hacks occur seemingly every other day. The user has no control over how websites are using their information or even what information these websites are recording. Web 3.0 gives users control back over their private information.
How Will Digital Marketing Change Due to Web 3.0
The digital marketing landscape will look very different under Web 3.0. Web 3.0 is still in its design stages, so you can expect that the final impacts will change between now and its launch date. However, one of the most significant changes will be to data collection.
Traditionally, digital marketers have used third-party cookies to target a specific audience. Under Web 3.0, digital marketers would be unable to collect this information. Reaching your target audience must be achieved in a completely new manner, and businesses must pivot or risk becoming obsolete.
How to Take Advantage of Web 3.0 with Digital Marketing Strategies
Before the onset of Web 3.0, getting a good handle on your current digital marketing strategies is important. Building trust and developing strong user relationships can help a digital marketing company ease into Web 3.0. You must get the user to trust you with their data moving forward because they will have the final say in who can access their information.
Digital marketers can also begin to incorporate NFTs into their advertising. NFTs are non-fungible tokens that give the user ownership over a digital item. NFTs will be important in Web 3.0 because they represent how users can take ownership of digital products. Digital marketers can condition their customers to become familiar with their NFTs before transitioning to Web 3.0. Items such as limited edition NFT tokens can be given as contest prizes.
Web 3.0 is being built using blockchain technology. Cryptocurrencies are a great example of decentralized currencies created using the blockchain network. Along the same line as NFTs, digital marketers can incorporate cryptocurrencies into their advertising campaigns. Cryptocurrencies encourage ubiquity because two users who live across the world from one another can quickly transfer cryptocurrencies without paying costly currency exchange fees. Digital marketing teams can connect with users from all around the world by incorporating cryptocurrencies into their portfolios.
Love it or hate it, the Metaverse is a working example of what Web 3.0 is working towards. Although the Metaverse is also in its infancy, you can get a feel for Web 3.0 by advertising in the Metaverse. Digital marketing in the Metaverse is unlike traditional marketing, so it will require trial and error. Virtual reality and artificial intelligence can tailor a user’s experience into something 100% personalized.
What’s Next for Digital Marketers?
Although Web 3.0 is still years away from becoming a reality, it will be here before you know it. Digital marketers should be aware of the ramifications that Web 3.0 will have on current marketing strategies. Making the switch to Web 3.0 will mean having to reimagine your current advertising campaigns. It is essential to build and foster a sense of trust within your user base over the upcoming years so that the switch to Web 3.0 is not as jarring. Begin to incorporate NFTs or cryptocurrencies as part of your digital marketing strategy so that you are not left in the dust once Web 3.0 takes over.