Marketing executives are shaping up to sell their brands to consumers in 2023, and they will be taking no prisoners to drive their message home. A useful rule of thumb is for marketers to tell their story in a short and concise way, but they are also going to reel you in via popular buzzwords and trends such as “web3” and “blockchain”.
We take a look at some of the more clever ways that marketing people likely will use to cheat their way into your mind and pocket this year.
Content is still king but so is web3
“Marketing your web3 project to your ideal audience is a dynamic task,” marketer Jarrod Frankel noted in a write-up for Lunar Strategy. “It requires a strategic plan. By reviewing the latest web3 trends, you’ll be ready to develop your marketing plan for maximum effect.”
The keyphrase here is “maximum effect.” Marketers will leave no stone unturned in order to achieve their goals. That means it’s crucial for users to cut through the clutter. To separate fact from fiction, in order to identify empty marketing talk peppered with buzzwords.
One such buzzword and trend is “web3” – the idea of a decentralized and blockchain-based Internet that utilizes token economics. Non-fungible crypto tokens, or NFTs, are expected to play a key role in web3 as a medium of exchange.
“Web3 is all about the community,” Frankel asserted. “Targeting, reaching, and building your community will be the primary objective of your marketing efforts.”
“As vital as it is to build out your campaigns – your first step must always be defining your target audience and determining where you can find them,” he added. He says a marketer’s success in web3 will depend on “keeping the goals and objectives of web3 front of mind.”
NFT buzz still going strong
Non-fungible token prices have crashed sharply over the past year along with the rest of the cryptocurrency market but the trend is still going strong.
Frankel hopes marketing people will use NFTs big time this year to push their brands. “NFTs can also be used to incentivize and reward users for participating in your project, helping to drive engagement and adoption,” he stated.
“With new innovations consistently arriving on the scene , NFTs will offer a range of new marketing opportunities for businesses looking to stand out and build a strong community in 2023.”
There have been some dramatic changes in the media and consumer landscape over the last few years. Thanks to the emergency of social media and web3. Marketers understand that in content marketing, one size does not fit all.
So their plan for 2023 is to milk emerging trends dry using various strategies and platforms. Marketers will use blog posts, articles, videos, podcasts, infographics, or any other format that they think is relevant to reach out to so-called “communities” within the web3 space.
“For 2023, content marketing is an increasingly important part of the customer journey. This trend is only growing stronger if you want to build an engaged community,” said Frankel.
Marketers tapping social media in web3
Social media marketing in the old version of the internet known as “web2” typically involved using platforms such as Facebook, Twitter, LinkedIn, Instagram, and TikTok “to engage with audiences through a combination of profile management and running paid campaigns.”
The same trick and trend can still work for marketing executives targeting users in web3 and cryptocurrency, according to the Lunar Strategy post. “This will also involve using decentralized social media channels and networks that are built on blockchain,” Frankel said.
“Augmented reality solutions are also expected to be a key part of the future of web3 marketing. Take note though – not all Web3 brands allow advertising. The reach, credibility, and reporting functionality of those that do may also be fairly underwhelming,” he refrained.
Brands spent 66% more on retail media during the 2020 Covid-lockdown than they did the year before, according to data company Skai, which works with brands that buy ads from Amazon, Walmart and others. It is not clear how much money projects targeting web3 are spending on advertising.
But with more than 2.7 billion daily active users across various social media networks, there is a lot of money to be made. Marketers and brands are pulling every trick from the bag in order to remain relevant in a fast paced and rapidly changing digital social media economy.
“Staying up to date with the latest trends and innovations in social media can ensure that your marketing efforts are targeting the correct audiences in the most effective way,” Frankel detailed.
Caution: Influencer content ahead
In 2023, users in and of web3 should take content generated and spread by so-called social media influencers with a pinch of salt. It is one area and trend that marketing executives are targeting this year.
They are hoping to use online influencers to grow their brands and “establish it as a credible and trustworthy source of information and services.” With the decentralized nature of the industry, influencer marketing is a growing trend among web3 brands.
“By partnering with influencers who are active and respected within the Web3 community, you can tap into that influencer’s existing following and reach a larger audience more quickly and effectively,” says the Lunar Strategy write-up.
Many social media influencers are routinely paid by scam projects to help them pump and dump new tokens for speculative purposes. Earlier this year, U.S. TV star Kardashian West was criticized for posting a paid promotion of a crypto token called Ethereum Max to her 250 million followers on Instagram. She asked her fans: “Are you guys into crypto????”.
While the post was marked as an advertisement, Kardashian did not disclose that the token was created only a month earlier by pseudonymous developers. She was later fined more than $1 million by the U.S. Securities and Exchange Commission.
1/ Let’s review all the direct scams Bitboy has worked with in the past. Just in case you forgot here is the flyer with how much he charges.
I received this a while back by posing as a project interested in a promotion.
🧵 👇 pic.twitter.com/FkC9HUDGsc
— ZachXBT (@zachxbt) January 3, 2022
Influencers help projects generate publicity through regular adverts and posts on their social media handles. This tends to send signals to investors who may think the products are legitimate.
In April 2022, U.S. authorities charged 22 people for dump and pump scams running up to $194 million. Observers say investors should look beyond the so-called investment opportunities.
Marketers and the Green revolution
While regulation in the crypto and blockchain industry is expected to tighten this year, marketers see this as an opportunity to make money. They will package their content to inspire a sense of environmental and climate responsibility.
“One such area is the Green revolution,” Frankel said. [This] has already made an impact in the crypto industry – by placing pressure on Ethereum to move from a proof-of-stake (PoS) to a proof-of-work (PoW) platform.”
“While the verdict on this move remains to be determined – embracing the green narrative may be a key driver of growth in the 2023 crypto community (or not – time will tell!),” he added.