Marketing in Web3 - Themetaeconomist

Marketing WEB3: The Power of Community

30 June 2022


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The first hurdle for WEB3 marketing is for marketers to fully understand what the WEB3 is and what the difference is between the type of marketing that has been used up til now and the fundamental differences in this approach for the future.  Though this would appear to be an essential learning exercise, the primary stop point is that since WEB3 is so new and in evolution, many things we thought we knew have already morphed into something “better and improved”, different or worse -- no longer exist, so, learned and now to be discarded.

There is a learning curve and it is like Mont Fort (Switzerland): steep and slippery.  And though we don’t want to latch onto those things we know and never let them go  (which would be like trying to fit a square peg into a round hole), we also don’t want to discard everything we have been learning and using in WEB2.  

Community-Oriented Marketing

One of the common denominators that keep surfacing is the importance of “community.”

Community is not just those who follow on FB or Twitter, they are not just those who are spending money to buy products or services, and they are not just those who talk about you online.  

Just look at social platforms, organizations,  gaming groups, or businesses - like Amazon - there is always a community supporting it. Normally, we think of communities like those we find on Instagram, Facebook, Discord or even fan clubs.  It can be agreed that  “dedicated communities are at the heart of the most successful businesses.”

Community-oriented marketing provides immense benefits - a group that in some way all have something in common.

WEB3 Communities

“Web3 was community-oriented, community-focused, and in many ways, community-run”

What makes a community in WEB3 so different? So game-changing? Unlike a WEB2 community where there is an external control over the community - perhaps guiding the members, testing them, making suggestions, the WEB3 is the community - they make the platform, they make the community, they make the decisions, they guide the market without external guidance

Thus, they become more important.  They are the force business want to interact with, they are the force that will be making decisions, they are (more) in control than ever before.

Community is the basis of WEB3 - “In simple terms, a DAO (Decentralized autonomous organizations)  is similar to a true democracy. The members of the organization represent and control it. “

WEB3 Community Benefit(s)

There will be many benefits and many of them will center around decentralization which is a central concept of WEB3.

Decentralized autonomous organizations are typified by the use of blockchain technology to ensure unicity and provide security and traceability.  This practically eliminates the need to involve a “trusted” third party, for example, Facebook or TripAdvisor.

“Web3 marketing focuses on decentralization. It implies that no company will have central power over data as it will be accessible in different places at once.”

So, in effect what this suggests for marketers is that the “power” is in the hands of the people - the people that make up the community - the people who are directly interested in the objectives and goals of the community.

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