Web 3.0 Is Here: Here’s How Ecommerce Businesses Can Adapt

The next big disruptive event in tech will be the transition into Web 3.0, a favorite subject of tech enthusiasts over the past few years and something we’ve all been hearing a great deal about lately.

But what is Web 3.0, exactly? Is it something that we should be aware of, or is it just a bunch of hype? And how is it going to change things for those of us who own e-commerce stores?

Web 2.0 is the current stage of the internet, the one that we all know and love. Web 3.0, on the other hand, is going to be the next phase, which is going to focus on more decentralization, privacy, and better utility. In theory, this means a better shopping and browsing experience for your customers since it’ll allow you to provide even more opportunities to give them a personalized and tailored experience. And since transactions will be able to be blockchain-based, it’ll offer a more secure experience as well.

To help ease you into the concept of Web 3.0, and in an effort to separate some of the hype that’s out there from the facts, I’ve put together a list of a few ways that e-commerce stores can use Web 3.0 tech in their businesses. Most of these strategies are things I’ll even be implementing myself.

Use NFTs to Help Boost Brand Interest and Loyalty

Thought NFTs were just for bored celebrities? Think again! These digital certificates of authenticity and ownership can be used in the e-commerce industry as well.

While the gaming industry was one of the first to embrace NFTs, owning an NFT from your favorite brand helps to foster a stronger sense of connection, and the exclusivity and scarcity also help to make NFTs desirable. And this is something that brands are starting to use already. Clinique has started using NFTs in its loyalty program in an effort to modernize loyalty. Meanwhile, Louis Vuitton and Gucci use it with gamification, launching video games, and giving NFT rewards.

The unique thing about NFTs is that it shows proof of ownership. As long as someone owns that NFT, they can be automatically airdropped free offers, incentives, and other perks. It’s all written into the smart contract, so it can be tracked and automated easily.

By connecting a wallet like Metamask or Coinbase, your customers could shop with cryptocurrencies. You could also tie in unique incentives for NFT owners, and also allow rewards in the form of a crypto token or your own custom token that can be used to shop on your website.

Gain a Better Understanding of Your Data and Audience Through First-Party Data

The death of third-party cookies has been tough to swallow for many e-commerce stores who rely on knowing their customers in order to market to them effectively, but it’s proved to be a great prep step for Web 3.0 with the rise of first-party data collection tools and strategies. First-party data may be more challenging to collect, but it’s getting easier now, and the rewards are worth it. It helps you understand your audience better, create hyper-relevant content that they respond to, and ideally, even build a community of loyal fans.

Create a More Immersive Experience for Shoppers by Going Virtual

An immersive user experience can create a solid, lasting impression with your visitors. Virtual Reality (VR), Augmented Reality (AR), and 3D make the shopping experience more memorable and efficient. For visitors, the ability to try things on virtually or move furniture into their home allows them to see quickly if the products are right for them. As a bonus, virtual try-ons could help partially solve the problem of e-commerce returns. Last year alone, $218 billion worth of products were returned to online stores.

Start Creating dApps

Thinking of creating an app for your business? Instead, you may want to think about building a dApp (deCentralised App), which is more secure. To help users shift into Web 3.0, a number of companies are creating blockchain-based alternatives for their apps. There are decentralized apps (dApps) for almost everything: communication and messaging, data storage, web browsing, social networks, banking, streaming, and more.

How Web 3.0 is Impacting Digital Marketing

Now, let’s touch on a few ways the new version of the internet is changing digital marketing. For e-commerce stores, here’s what you need to know about marking as we shift into Web 3.0:

• Keyword optimization will be less of a priority with Web 3.0. There will be an increased focus on creating multimedia content that meets user intent and queries.
• People are using voice search and digital assistants more. Because of this, businesses should optimize their content for voice queries and incorporate short-form information that people look for when using voice searches.
• Focus on producing content that answers people’s questions accurately. Creating content that includes featured snippet optimization, and PAA (people also ask) sections are two simple ways to do this.
• Create ultra-personalized experiences. As data gets processed faster and smarter with Web 3.0, websites can deliver the right messaging and media formats according to each visitor’s preferences. This enables businesses to create rich, hyper-personalized customer experiences.

While Web 3.0 might still be looming on the horizon, it doesn’t spell doom and gloom for businesses. Instead, as with every stage of the internet, it’s simply an opportunity. By learning about what you can do to reach your audience more effectively, you’ll be at the cutting edge when the changes start to take place.