Report: Digital marketing to be next major use case for Web3.
Report: Digital marketing to be next major use case for Web3.
The Web3 Ecosystem: A Golden Opportunity for Digital Marketers
The rapid growth of the Web2 era in the 2010s brought about an explosion in the digital marketing industry. From 150 marketing companies in 2011, the number grew to a staggering 11,000 by 2023. However, in the past few years, digital marketing has seen a shift towards a more privacy-centric environment. This has compelled marketers to explore new avenues and embrace the Web3 tech stack, according to a comprehensive report titled “The Web3 Growth Landscape 2023” by Safary, a Web3 marketing analytics firm.
The Web3 ecosystem presents a promising landscape for digital marketers, with nearly 200 companies already deeply immersed in understanding how to harness its potential. Among these companies, 71 have collectively raised $600 million in funding, indicating the level of interest and investment in this space. Safary’s report provides insights into the emerging trends and categories within the Web3 marketing landscape.
According to Safary’s findings, the most well-funded categories in the Web3 marketing landscape are Messaging, Questing, and Loyalty platforms. These platforms have attracted substantial funding, with each receiving over $100 million. Quest platforms like Yield Guide Games have emerged as engagement marketplaces, directing users to complete incentive offers. This approach facilitates a more direct brand-user relationship compared to traditional ads.
Loyalty companies, on the other hand, focus on enhancing customer value and retention through rewards programs powered by Non-Fungible Tokens (NFTs) and tokens. These programs enable brands to incentivize customer loyalty and foster deeper connections with their audience.
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In addition to these platforms, there is a growing demand for analytics tools that cater to Web3 marketers. Tools such as Nansen and Dune aggregate on-chain, platform, and social data to provide valuable growth insights on Web3 communities. These analytics tools offer marketers a deeper understanding of user behavior, empowering them to make data-driven decisions and optimize their marketing strategies.
Discovery platforms, such as DappRadar, hold immense potential as advertising real estate in the Web3 landscape. By investing in long-term strategies like Search Engine Optimization (SEO), these platforms can become key destinations for targeted advertisements. CoinMarketCap serves as a prime example, being one of the highest-traffic websites on the internet.
Furthermore, there are 18 Web3 growth agencies that specialize in advising and deploying growth strategies for blockchain projects. These agencies work closely with blockchain startups to drive user adoption, create compelling marketing campaigns, and support long-term growth.
The growing interest and investment in Web3 marketing are reflected in the overall marketing industry. According to Chiefmartec, a marketing industry analytics outlet, there has been an 11% increase in the number of marketing solutions and services available this year. This underscores the need for marketers to evolve alongside the Web3 ecosystem and adapt their strategies to the changing digital landscape.
As Web3 continues to evolve and expand, it presents a golden opportunity for digital marketers. By harnessing the power of blockchain technology and the decentralized nature of Web3, marketers can create more engaging and personalized experiences for their audience. The emergence of new platforms, analytics tools, and growth agencies within the Web3 marketing landscape sets the stage for innovative marketing strategies and opens up possibilities that were previously unimaginable in the Web2 era.
In conclusion, the Web3 ecosystem is ushering in a new era for digital marketing. Marketers who embrace this transformative technology can gain a competitive edge by tapping into the potential of Web3 platforms, leveraging analytics tools, and partnering with specialized growth agencies. The Web3 revolution presents a unique opportunity to build stronger, more direct relationships with consumers while navigating the evolving privacy landscape. As more startups explore and invest in Web3 marketing, the industry will continue to grow and redefine the future of digital marketing.
