Marketing in Web 3.0 is a complex task that demands a deep understanding of both the technical and cultural aspects of the technology. Successfully marketing a product in this new landscape requires striking a delicate balance between appealing to consumers’ cultural preferences and remaining faithful to the technology’s technical underpinnings. This is what a panel of experts discussed at the World Blockchain Summit held in Dubai.
The panel consisted of three experts from different industries. Anndy Lian, a Singapore-based venture investor and government advisor; Mirko Maccarrone, director of Web3 Lightblue; and Shashwat Eternal, CMO of NFT3.
Anndy initiated a discussion by highlighting the effectiveness and ineffectiveness of marketing campaigns in both web2 and web3 realms. He mentioned that web3, being agile and efficient, can be influenced by negative marketing practices from web2. It is of utmost importance to develop marketing strategies that are intricately designed for web3, meticulously taking into consideration the cultural norms and preferences of the target audience. Only by doing so can businesses effectively advertise their products and services while also forming a deep and meaningful connection with their audience. The ever-evolving marketing landscape requires constant adaptation to stay relevant, incorporating the latest trends and best practices to achieve sustained success.
Mirko, a seasoned professional in the realm of global and regional marketing, possesses a wealth of experience in launching web-free departments for numerous brands. He places immense emphasis on the criticality of culturally-oriented marketing, highlighting the potential of experts in creative writing and fashion marketing to deliver compelling messages that effortlessly resonate with the audience. Such marketing messages must steer clear of technical jargon and unfounded conjecture, ensuring that the audience remains engaged and invested in the brand’s offerings. By embracing cultural insights and staying attuned to the audience’s preferences and values, marketers can craft campaigns that evoke a profound emotional response from the audience. Mirko’s astute observations underscore the pressing need for businesses to foster a sense of closeness with their audience, thus facilitating seamless communication and cultural awareness.
Shashwat, an accomplished marketeer who has been navigating the web3 landscape for the past three years, concurs with Miracle and elaborates that marketers must have a nuanced understanding of the technology’s intricate workings while also catering to the audience’s cultural orientation. His firm, NFT3, is actively developing a cutting-edge face ID system for web3 that streamlines the process of signing in across all web3 platforms, thus paving the way for a seamless and hassle-free user experience. Shashwat’s insights shed light on the ever-increasing demand for marketing professionals who possess a multifaceted skill set, encompassing both technical and cultural expertise. As the web3 industry continues to mature, companies must adapt to meet the evolving needs of their audience, innovating and leveraging technology to deliver an unparalleled user experience.
The panelists also discussed mass adoption, which is crucial for web3’s success. They agreed that mass adoption can only happen when there is a cultural connection between the product and the audience. This connection is possible when marketers understand the audience’s cultural background and can communicate the product’s technicalities in a way that they understand.
One of the major challenges confronting marketers in the era of Web 3.0 is the need to strike a balance between innovation and cultural relevance. Unlike traditional marketing approaches, which rely on generic messaging and branding, Web 3.0 marketing necessitates a more intricate approach that considers the audience’s unique cultural contexts and sensibilities.
To excel in Web 3.0 marketing, it is imperative to be culturally oriented and possess a varied range of experiences and perspectives. This implies collaborating with individuals who have backgrounds in areas such as fashion, literature, and the arts, as well as those who possess technical expertise in blockchain and decentralized technologies.
Another crucial factor for successful Web 3.0 marketing is the ability to adapt promptly to changing market conditions. The swift and ever-evolving nature of the Web 3.0 landscape necessitates marketers to be nimble and agile, capable of rapidly pivoting in response to new trends and emerging technologies.Web 3.0 marketing necessitates a profound understanding of the underlying technologies and concepts that drive this new era of innovation. This requires staying current with the latest developments in fields like decentralized finance, non-fungible tokens (NFTs), and smart contracts, and being able to explicate these complex concepts in straightforward language to non-technical audiences.
Web 3.0 marketing presents a thrilling opportunity to create more engaging and interactive experiences for customers. Decentralized applications (dApps) and NFTs provide new prospects for gamification and social interaction, enabling marketers to create immersive, personalized experiences that drive engagement and loyalty.
In conclusion, marketing in web3 is a delicate balance between the technicalities of the technology and the audience’s cultural orientation. Marketers need to be culturally oriented, speak in a language that people understand, and understand the technicalities of the technology they are marketing. Mass adoption will only happen when there is a cultural connection between the product and the audience.
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.