Many digital marketers are not paying attention to a new trend that has the potential to revolutionize the field of digital marketing. Just like any other industry, the digital marketing sector is always evolving with new trends and innovations.
According to a recent report, Web3 digital marketing is projected to be the next big thing in the industry. The statistics supporting this are quite impressive, so it's worth keeping an eye on this emerging trend.
The emerging trend of Web3 is worth keeping an eye on, as it is still in its developmental stages. Although it has not been perfected yet, there is a lot of potential for improvement to make it more attractive to people worldwide. Despite being in its early stages, digital marketing continues to evolve and advance in this new area of technology.
This is because new changes are happening in all sectors, and web3 marketing is needed at the moment. According to new data, 70 startups have raised over $600 million for Web3 marketing. Note that this amount raised was only in 2023 alone, according to the latest report.
But why is the digital marketing sector changing? Well, the report says buyers and users began to change behaviors and personalities. They were moving to many web3-focused apps, so Web3 digital marketing had to be made up to keep up with this new trend.
Change In Buyer's Behavior Led to Web3 Marketing
Marketing Web3 came as a result of changes in buyers' personality. This report was termed "The Web3 Growth Landscape 2023," by a Web3 marketing analytics firm Safary.
As per the report, buyers are exhibiting a new trend where they are gravitating towards privacy-focused and decentralized apps. Marketers and companies have observed that even for social media, their target audience is shifting towards platforms such as Reddit and Discord. This has created a demand for a novel form of digital marketing in Web3..
"As web3 emerged in the 2020s, so did a more community and privacy centric marketing environment. Buyer behavior shifted too, with consumers engaging on “dark social” channels like Discord, Telegram, and Reddit which are notoriously difficult to track. This meant that marketers could no longer rely on the targeting methods they’ve used in the past," the report said.
In the recent report, it was stated that numerous media and marketing companies have identified the gap in the market and are eager to partake in the new Web3 marketing, ensuring their place in it.
More Startups Secure Funding For Web3
Regarding the funding of Web3 startups, a report categorized companies involved in Web3 digital marketing and their respective funding amounts. The total raised by each category is in the millions of USD. In the adtech and attribution sector, there are approximately 9 companies, with 6 of them raising a significant $22 million in funding. The adtech space is primarily composed of these companies.
Continuing on, there is a category called ad networks that has raised approximately $26 million in funding. Out of the 18 web3 networks, 7 of them have been successful in raising this amount. The questing platforms have raised one of the highest funding amounts, with a total of $100 million from 12 companies. The loyalty category follows closely behind with $115 million raised. Additionally, 9 firms in the growth analytics category have raised $40 million.
Affiliates and referrals raised about $8.4, community tooling raised $70 million, CRM raised $19 million, and the discovery category raised $13 million. The highest goes to 16 messaging platforms that raised $212 million.