Web3 opens up new, previously unimaginable opportunities for brands to build connections with consumers and communities. This will be done using blockchain, decentralization, and digital identity to enhance relationships, further connecting the creators or brands with consumers.
Web3 allows brands to create communities on their terms, with members who are fully invested in the success of their communities, holding tokens along with other benefits. This is one of the most powerful tools brands can use to enhance their identity.
A well-established team within the Web3 ecosystem may even seek out advocates and reward them with social tokens that give them a share of brand benefits.
In web3, community members are your strongest marketing tools, your most critical stakeholders, and the most accurate measure of brand performance. If the community is a valuable resource for any brand looking to start a web3 project, building it from the ground up is a challenge.
From the beginning, brands should have a Web3 presence that is discoverable by those interested and helps to promote their projects. In a web3 community, individuals are empowered to share in the value created by their actions and ownership.
Through data-sharing, portability, ownership, and fairness, Web3 allows consumers to be stakeholders in brands -- via digital assets, NFTs, tokens, achievements, experiences, etc. With its inherent transparency, accountability, and equity built into web3, brands have an opportunity to transform the brand-customer relationship: moving from consumers to stakeholders, and markets to communities.
While it will not be happening across all industries, many see a coming wave of brand-building in the web3, with marketers reconsidering the ownership of IP and the exchange of their communities' values. We see the future of brand building in Web3 not just leaning on clever product teams and strategy to create brands but on open-source innovation and fast, ongoing feedback loops from the brand's communities to shape an array of brand-based decisions and capabilities.
As projects swarm across the Web3 landscape, those who stand out are pursuing Web3 digital marketing strategies rooted in strong brand identities and an acute sense of contemporary cultural flows.
Much of the brand success in Web3 will revolve around having powerful individuals committed to building and promoting them, as well as driving demand, and engagement, and enhancing the overall experience.
Building Web3 brands will thus need more focus on leaders being marketers, driving the demand for their brands, as opposed to a traditional approach where marketing and outsourcing teams handle customer relations, content creation, and communications.
Both the big players and newcomers are investing in Web3 focusing their brands in this space, creating virtual, three-dimensional stores. Adobe, for example, is encouraging brands to get started on 3-D design right away, while others are racing to create digital twins of their current offerings for the Web3 metaverse.
Individuals and brand owners can leverage content as a tool, connecting it with their digital identities in order to build a continuation of their real-life identity. The value associated with digital identities can be built up over time by building trust with the brand's audience and engaging in a creator economy.
