What is Web 3.0? What does it Mean for Digital Marketing | Fisher Digital

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The internet is evolving. In 3 decades, we’ve gone from static websites to IoT, NFTs, VR, AI, and so many more acronyms it’s hard to keep track.

You might be thinking WTF.

Because we haven’t completely abandoned Web 1.0 or Web 2.0, however, digital marketers might think Web 3.0 is still to come.

It isn’t. It’s here.

And it’s big.

 

First things first: What is Web 3.0?

Web 3.0, the third iteration of the World Wide Web, is the decentralised internet based on blockchain, tokens and data-driven interactions.

We’re already seeing Web 3.0 change the lexicon in its infancy. Concepts like non-fungible tokens (NFTs) and cryptocurrencies hardly existed in the collective consciousness 5 years ago. Now they’re all anyone in the Perth digital marketing industry is talking about.

Granted, a lot of the time, we’re asking, “what’s the point of NFTs?” but we’ll get to that.

So, where does “Web 3.0” originate? To understand the current evolution we must, like the Darwins of digital marketing, go back to the long-ago past (1991) when Web 1.0 emerged.

 

Web 1.0

The internet’s first era, from 1991 to 2004, is defined by static websites where users were passive consumers of content. Images, videos and interactive content were few and far between.

Web banners were cutting-edge digital marketing back then, and Perth’s first SEO consultants were just finding their feet.

 

Web 2.0

Around 2002 we transitioned to Web 2.0, the internet as a platform. Users took control, creating endless reams of content for social media and blogs.

We’re not done with Web 2.0 yet. Social media still dominates many digital marketing strategies, user searches inform SEO strategies, and loyal communities hold immense value.

 

Web 3.0

In this next era of the internet, Big Tech will lose its hold on the information economy. In its place, blockchain technology will support a decentralised internet where cryptocurrencies replace money.

Digital marketers need to recognise the relationship between decentralisation and data privacy.

Information in Web 3.0 is controlled by nobody, and therefore everybody. Artificial intelligence and machine learning give advertisers abundant opportunities, but Web 3.0’s transparency gives dodgy brands nowhere to hide.

 

Built on blockchain

Blockchain uses a shared, unchangeable ledger to track transactions. Rather than relying on financial institutions, purchases made with cryptocurrencies like Bitcoin are recorded in an open register hosted on multiple machines via a peer-to-peer network.

 

Internet of Things

IoT or the Internet of Things is the shared network created by connected devices. For example, your smartphone, laptop, fitness tracker, home assistant, car, fridge, coffee machine and thermostat can all interact and share data.

On a macro scale, IoT enables millions of devices to anonymously share data about where and how they are used.

 

7 ways Web 3.0 will impact digital marketing and SEO in Perth

It’s an exciting time to be in digital marketing as we watch these evolutions rolling out in real-time. But it’s also a little daunting.

Web 3.0 is a concept-in-motion, making waves before we fully understand what’s happening. Proactive marketers and advertisers who ride those waves have a deep pool of opportunities to build loyalty, convert more customers and cut through the noise.

 

1.     New advertising opportunities

Internet access is no longer limited to screens. Instead, the user experience in Web 3.0 is seamless, spanning devices and realities.

Facebook rebranding to Meta is a prime example. Meta is investing heavily in Metaverse, a network of 3D virtual worlds dedicated to social interaction. Imagine putting on a VR headset and entering a 3D version of the internet as you browse.

And you can bet Meta is banking on advertisers getting on board.

 

2.     Tokens will be ubiquitous

Cryptocurrencies, digital tokens based on the blockchain, are already established – a sign that Web 3.0 is already here.

Decentralised tokens are currency-agnostic, giving customers access to global marketplaces. And unlike traditional banking, they don’t rely on too-big-to-fail institutions.

Commonwealth Bank recently launched a service enabling their customers to invest in cryptocurrencies. Customers will soon be using tokens to make all kinds of online purchases.

 

3.     NFTs will be everywhere

Non-fungible tokens give permanent custody of a digital asset to whoever purchases them, usually with cryptocurrency.

Digital marketers shouldn’t be too quick to dismiss NFTs. They can hold monetary value, prove ownership for a physical item, or grant the owner entry into an exclusive community.

For example, 2022 Superbowl attendees receive a unique NFT with their ticket, and the NFL is releasing commemorative NFTs for purchase.

Even Nike is getting involved. The shoemaker bought an NFT company in December 2021. Then, in February 2022, it tested NFT trademark law by suing an online marketplace selling bootleg (digital) sneakers that can be traded for the real thing.

 

4.     User experience trumps everything else

Web 3.0 creates a more level playing field for intimate brand-user interactions. The brands who succeed in the “fair and transparent” world of Web 3.0 will be those who:

  • Provide personalised experiences
  • Stay true to their values
  • Adapt to user preferences
  • Allow for customisation
  • Facilitate meaningful conversations

Now is the time to learn who your audience is on a human level.

At the same time, changes to data privacy will have sweeping impacts across the digital marketing landscape. You can read more about that in our post about digital marketing trends in 2022.

 

5.     Marketers need to get smart about data

Artificial intelligence and machine learning are hallmarks of Web 3.0. Ultimately, AI and machine learning turn data-driven insight into action.

Digital marketers can use AI to reduce manual work, improve targeting online and streamline customer interactions.

For example:

  • Google Ads can automatically populate ads based on user preferences
  • Chatbots funnel customer queries faster than humans
  • Purchase trends and sentiment tracking can inform digital marketing strategies
  • Customer insights can become investment decisions

Marketers need to invest in data management tools and expertise, or they’re going to be in the dark when Web 3.0 properly arrives.

 

6.     Insights become actions become results

Because Web 3.0 is constantly evolving, marketers must research and practice simultaneously. Marketers who move with the times will be better-placed to command attention as users migrate to the decentralised Web 3.0 world.

Here at Fisher, for example, we’re helping clients leverage real-time insights to deliver dynamic, personalised content. So instead of waiting for weekly or even daily results, our clients can use machine learning to interact with their audience in real-time.

 

7.     Move fast and build things

The era of “move fast and break things” is over. Even Facebook, who popularised the phrase, has moved on.

Web 3.0 is about building.

Marketing teams become the creativity engine, fuelled by data and insights, driving agile innovations.

 

Is your marketing strategy Web 3.0-ready?

Fisher is Perth’s leading SEO and digital marketing agency. Our insight and expertise, coupled with your ambition and vision, can achieve great things for your brand in the Web 3.0 era.

Get in touch to talk blockchain, data insight and digital marketing strategy.

Until then, we’ll see you in the Metaverse.