Thought Piece | Thought Piece
Why it’s time to future-proof your business with MACH technology
by Liam Springate-Jones
Web3 is the next stage of how we consume and distribute information online. The rapidly evolving needs of users have brought a new era of digital, which is powered by automation and cloud-based services. Web3 represents a paradigm shift in the way companies could operate in the future, particularly with the elimination of third-party data brokers. Businesses that adopt web3 technologies will be able to offer more transparency and build customer trust like never before. There’s a variety of ways that brands can prepare for web3, but what exactly are the changes it will bring?
Digital Privacy
Web3 represents the era of ownership; a version of the internet where users have full control of their personal data. It could pave the way for new business models for brands, in which there’s a greater focus on data sharing and collaboration. With web3, data will be stored on a decentralised network, keeping data secure and private, which reduces the chances of breaches.
For decades, organisations have relied on centralised data to support analytics and business intelligence. Now, with the rise of web3 technology, businesses can drive real value through decentralised strategies. This includes paving the way for improved customer relations as every transaction will be recorded in the decentralised blockchain ledger, creating a better experience and more accountability for customers. Web3 will ultimately enable businesses to overhaul their security procedures and safeguard sensitive information.
Personalisation
The future of online experiences will revolve heavily around personalisation. With web3, businesses have a unique opportunity to deliver personalised user experiences with collective data ownership at the core. By personalising the customer journey, brands will be able to create more memorable experiences that specific needs and preferences, establishing deeper connections with customers. As a result, brands can pave the way for deeper brand loyalty which can drive sales and revenue. Web3 can provide personalised experiences on a whole new level, attracting more customers and driving stronger results.
Digital Experiences and Marketing
Web3 technologies have the power to pave the way for the next evolution of marketing, where businesses will be able to create virtual communities by leveraging VR and the metaverse, as well as create engaging experiences for customers. This could include focusing more on user-generated content, which in web3, will become more valuable. According to research by The Drum, user-generated content will dominate marketing in 2023.
UGC gives your audience a more authentic experience, bridging the gap between buying and browsing – which creates a highly engaging experience. Ultimately, web3 will enable personalised enhancements, consumer-permissioned data, and more powerful app experiences. As a result, businesses will need to start leveraging web3 technologies to ensure sustainable growth and to continue connecting with customers. There’s an abundance of business opportunities and benefits of web3, from greater accountability due to blockchain and improved customer relations. Web3 remains in the developmental stage, but businesses should be implementing strategies and keeping track of the market.
Get in touch with our team
At Splendid UNLIMITED, we have a talented team of designers with vast knowledge of digital experiences, and how brands can use technology to grow and drive revenue. Having worked with a range of clients, such as Reed and HSBC, where we created bespoke designs, using our technical expertise. As a result, we have exceptional knowledge of digital innovation and the role web3 will play in the future. Now’s the time to start building your digital strategy, so why not contact our team to find out more?
