Guest post: What to know about the Modern Marketing Playbook in the Age of Web 3.0 and AI
Mumbai: For quite some time now, two terms have been making the rounds in marketing circles at high speed: web3.0 and artificial intelligence. This new wave of the Internet is poised to disrupt the way marketing is done globally, commanding fast and nimble systems. The reason: this is where the consumers of the future are. As marketing tactics change with the advent of the digital revolution, new standards will be set along with it, dramatically changing modern marketing.
What is web 3.0 and what are the new trends it brings to the table
The third generation of the Internet, or Web 3.0, integrates data in a decentralized way to provide a faster and more individualized user experience. Built using artificial intelligence, machine learning and semantic web, it uses blockchain security system to enhance privacy and provide an immersive experience with marketing opportunity. Thus, businesses will benefit from an online presence here, and marketers will have a better opportunity to connect with their target customers.
The degree of functionality of Web 3.0 has been achieved in the two previous Web generations. Its technical ancestor, known as web 1.0, was born in 1989 and reached its peak in the 1990s and early 2000s. Then came web 2.0 which reached maturity in the mid-2000s and introduced new online collaboration and communication.
A rich and interactive marketing experience
A marketing challenge today is to deliver a hyper-personalized experience at a time when users are expected to have more control over their data. And that indicates that reaching current and future consumers will soon become more difficult. Users now create and consume information on the Internet, which is useful for marketing. This is where Web 3.0 components like AI help make sense of the creators’ big data.
Web 3.0 marketing uses the rapid evolution of the Internet to improve results. For example, marketers can review customer chats using natural language processing technologies. Artificial intelligence has also been used to deepen personalization, particularly in the areas of online content rendering and presentation, e-commerce product delivery, and automated customer support. A greater symbiotic bond between humans and machines will lead to more Web 3.0 features with a significant marketing impact. Besides that, the other shining arms of Web 3.0 are NFTs and the metaverse, which is an all-consuming version of the internet that uses tools like virtual reality (VR) and augmented reality (AR) to work, play and entertain others in a 3D environment.
How to effectively market in Web 3.0
Any type of creative work can be represented by NFTs, giving advertisers the ability to reach consumers with a range of interests. They can be implemented in customer loyalty programs where participants have the opportunity to acquire exclusive products. It’s done to perfection by brands like Taco Bell, Macy’s, and Budweiser.
An immersive environment, virtual user identities, and a functioning virtual economy are all distinctive aspects of the metaverse. Its goal is to reflect physical environments and lives in digital form, thereby empowering human potential. The metaverse offers marketers the ability to connect with consumers in a whole new setting where they are fully engaged. Companies will have the opportunity to increase their reputation by promoting the assured security of blockchain transactions.
Web 3.0/AR & VR are touted as game changers in modern marketing. However, given its immersive and “phygital” nature, interoperability and collaboration capabilities, continued commitment to the platform is essential. Many principles of Web 3.0 are still disputed.
Web 3.0 is still defined as a whole because there is no single, agreed-upon definition of exactly what it is. In other words, we create the plane as we fly. Despite this, it is undeniable that Web 3.0 is changing the way the modern business interacts with its customers. In addition to the many potential benefits for early adopters, marketers should be actively involved in the process of establishing this next phase of the Internet, as they have a duty to future generations. Many companies have started experimenting with this, including brands like Airtel, MakeMyTrip, Amazon, and Swiggy.
In a classic example, brand house Alpenliebe, which includes candy, pop and Eclair, has collaborated with Nickelodeon’s annual awards property – Kid’s Choice Awards, which has been projected into the metaverse. Hosted at Decentraland which is one of the largest metaverse platforms in the world, the brand organized an original entry for its participants where they were invited to form their own ‘Avatars’ during registration. A fun mud pool, airship pool, mud fountains, and slides also appealed to the kids. The metaverse event was mobile-friendly, which provided an immersive user experience and created good brand value.
Again, for companies like Starbucks, technology shouldn’t alienate us. To quote Deepa Krishnan, Director of Marketing, Category, Loyalty and Digital at Tata Starbucks, who is also a judge for MMA India Smarties 2022, the future will be about marrying technology with purpose, experiences and value by getting to know consumers, their interests and preferences and simplifying their lives through in-depth analytics, leveraging multi-point data and insights.
Five years ago, marketers were beginning to shift more spending online through advertising and digitization, Krishnan notes, adding that the pandemic had dramatically accelerated this. “The future is about bringing the offline experience online. It’s about humanizing the digital. People are realizing and appreciating the power of human connections and are increasingly looking for community engagements. The way a brand connects with its consumers is still very very important and will always remain paramount,” she adds.
Revolutionizing the Marketing and Advertising Industry
The future customer will not be susceptible to today’s problems, such as intrusive marketing and inadequate data protection, thanks to a solid foundation. But for businesses seeking success in the new Internet era, AI and metaverse-based search technology will not only introduce them to Web 3.0 marketing development, but also give them access to information about consumers and the market necessary for the growth of a company. .
The author of this article is Moneka Khurana, Country Manager of MMA India.