Web3 marketing, just like Web3, has come a long way!
The world of Web3 marketing remains a bustling frontier, teeming with pioneers and experiments. This translates to exciting innovation and constant evolution but also means established best practices haven’t quite solidified yet. Methodologies and playbooks are evolving as quickly as subniches are emerging within the space!
While the initial hype may have faded, Web3 remains a crucial space for brands seeking to stay ahead of the curve, both technologically and culturally. For Web2 and web3-native projects doing marketing in the space, here are some fundamentals that still drive marketing approaches:
- Community-driven marketing: Building strong communities around projects is crucial, fostering user-generated content, co-creation, and ownership models.
- Tokenized incentives: Integrating tokens and rewards into marketing campaigns can incentivize participation and engagement.
- Metaverse experiences: Leveraging the immersive possibilities of the metaverse for brand activation and storytelling is gaining traction.
- Decentralized advertising: Exploring decentralized advertising networks and DAOs for targeted and transparent ad placement.
- Data ownership and privacy: Emphasizing user control over data and respecting privacy expectations are essential.
The principles above have been a constant for years, which is incredible in an industry that’s always on the move. However, there are a few new marketing trends that could prove popular in the next bull cycle and beyond. They’ve been proven to deliver success within a bear market and could be winners in better market conditions.
Let’s have a look at a few of them!
Web3 Marketing Predictions for 2024
Shifting Power Dynamics: Fair launches, where early access is granted to communities instead of select investors, may become the norm, fostering decentralization and fairer distribution of wealth. This trend aligns with the growing demand for transparency and community engagement within Web3.
Evolving Social Landscape: Expect a rise in marketing efforts on decentralized social media platforms like Steemit, Mastodon, and Hive, where users have more control over their data and algorithms are less opaque. This shift reflects the desire for a more user-centric and authentic online experience.
Reimagined Airdrops: Airdrops, once viewed with skepticism, are likely to return in a more strategic and elaborate form. We could see larger drops with multi-phase processes designed to incentivize user participation and build long-term value.
Organic Growth Reigns Supreme: Doubling down on organic search engine optimization (SEO) and leveraging emerging social media platforms like TikTok will be crucial for brand visibility. This reinforces the importance of creating high-quality content and engaging directly with audiences.
AI‘s Continued Ascent: The proliferation of AI and machine learning tools for targeted marketing and data analysis will continue, providing deeper insights and personalized experiences for users.
Employee Influencer Power: Expect to see B2B and B2C brands increasingly leverage their employees as key influencers on platforms like Twitter and LinkedIn. This could lead to increased transparency and personal connections within the Web3 space, potentially even “doxxing” previously unknown executives.
Conclusion
Overall, Web3 marketing presents a unique and exciting opportunity for brands to connect with engaged communities, build trust through transparency, and create innovative experiences. While challenges exist, those who embrace the evolving landscape and prioritize user-centric approaches are well-positioned to thrive in this new era of marketing.
Elvis Kolawole is a Web3 Marketer, Creator, and Community Builder. You can download his Web3 Marketing Playbook for an introduction to marketing within the industry.
