Customer Engagement and Web3

The emergence of Web3 transforms brand and marketing strategies, and in particular the notion of customer engagement. Web3 encompasses a range of technologies and concepts, such as blockchain, smart contracts, Non-Fungible Tokens (NFT) and cryptocurrencies. Unlike its predecessor, Web2, which primarily focused on a few centralized platforms, Web3 emphasizes decentralization, trust, and user empowerment.  

Because Web3 is a decentralized, community-governed network that generates value for its participants, it is a great tool for brands to provide a true sense of community, authenticity, and a personalized experience. It is revolutionizing the way brands engage with their customers and it allows them to better target a younger, digitally native audience of GenZ and Millennials. 
 
Brands have learned to use Web3 to leverage their community and co-create with them. Investing in digital worlds, NFT and tokens is a great way to build loyalty through gamification; it creates an opportunity for an exclusive hybrid experience between virtual and physical worlds.  
 
Web3 is still maturing, with room for progress. Key challenges include user friction, scalability limitations, and fragmented networks. Brands must prioritize intuitive experiences and interchain networks to surmount these obstacles. However, the realm of Web3 also faces risks such as data exploits, security breaches, and scams. These hazards can be curbed through education and establishing reliable partnerships. 

The future of marketing lies in harnessing the potential of Web3 to create meaningful connections, and it’s likely that brands that pioneer efficient marketing strategies in this new digital age will be the ones reaping the benefits. 

To help retail brands better understand these new opportunities and implement a long-term Web3 strategy, SiaXperience, METAV.RS and Zealy have again joined forces to produce this second White Paper. 

By leveraging the main Web3 use cases for customer engagement, this white paper aims to serve as a playbook for brands that are looking to build their Web3 engagement marketing strategy. 

We outline the main objectives that brands can pursue by investing in new Web3 spaces and platforms in terms of engagement, retention and improving the overall Customer Lifetime Value. For example, we offer identifiable levers to integrate Web3 into brands' marketing strategies, create community effects and better target GenZ. 
 

This white paper further aims to assist brands in navigating the realm of Web3 and successfully strategizing future campaigns. By outlining key questions to contemplate before launching a Web3 initiative, we provide brands with a structured methodology to avoid pitfalls and foster long-lasting connections with their community by leveraging the right Web3 tools.