As the cookie is dying, zero-party data is rising.
It’s true — customers are desiring ownership and data privacy more than ever.
Brands jumping into web3 technology have immense potential to meet consumers’ needs — and web3 technology enables brands to reach their customers with transparency.
Nick Casares, the Head of Product Step3, and Alberto Mera, the marketing manager at Step3, recently sat down with our very own CEO, Drew Beechler, to discuss how brands are personalizing web3 experiences and providing customers with real ownership and data privacy.
Check out my key takeaways below and watch the whole session to get additional insight.
There are four advantages associated with blockchain technology.
The blockchain is essentially another database — it’s a transparent and secure network that holds an endless record of data that cannot be changed or manipulated.
The blockchain encourages ownership for consumers, trust between brands and their communities, transparency with data security, and shows an immutable record of transactions.
For the first time, web3 technology allows consumers to have full control over their digital assets, data, and more. Traditionally, digital assets are governed by another entity — with the blockchain, users own their assets without needing a middleman.
Blockchain technology helps brands build trust with their customers because everything is visible and traceable. All transactions are verifiable, meaning that users can own digital assets in which the value cannot be compromised.
The blockchain is transparent because it maintains a public ledger that records all transactions across a network, making this information accessible to anyone.
Once data is recorded on the blockchain, it cannot be changed or deleted. It's like writing something in permanent ink — it can’t be undone and everyone can see it.
Key takeaway — the advantages of blockchain technology provide users with true ownership and data security.
Web3 tokenization has revolutionized marketing.
Tokenization is as simple as taking any form of asset, digital or physical, and putting it on the blockchain. Once an asset lives on-chain, it immediately holds an authentic value that is 100% verifiable, unlocking a new level of ownership for holders.
Tokenization has changed the way marketers interact with their communities — with full transparency, customers can prove their loyalty to a brand based on what’s in their crypto wallet and own a piece of the brand/brand identity
The best part about tokenization is that marketers get to use this to their advantage, offering holders even more compelling perks and opportunities based on their devotion. Marketers get to understand their customers in new ways and position products based on what they know about that user (the digital assets held in their crypto wallet).
Key takeaway — tokenization drives deeper relationships between marketers and their audiences.
Marketers can gather deeper insights from their consumers.
The driving goal of marketing is to understand your customers. Brands within web3 are realizing the power of the blockchain — there’s an unmatched value in knowing a user's transaction history, what’s in their wallet, and other data analytics.
The blockchain is a gold mine of customer insights, purchase behaviors, and much more.
Web3 users know exactly what information is available to the public and know that brands have access to this information — customers expect brands to build personalized experiences based on their information.
Key takeaway — brands dig into user data to create personalized customer journeys for each user.
Customers have a new level of control over their relationships with brands.
Let’s take it back to the top for a second — remember when I said the cookie is dying and zero-privacy data is rising? Basically, it’s in reference to the fundamental distinction between crypto users and traditional web tracking methods. Crypto users are aware that their entire transaction history is accessible to the public, in stark contrast to conventional cookies that often monitor online activities without explicit consent.
Web3 users can use this to their advantage — individuals can make various wallets to represent different personalities. An example of this would be setting up different wallets strictly associated with your finances, one for your hobbies, and one for your educational purposes.
Users get to decide which wallet they want to connect to brands, bringing a certain data set to them. Even though the user is sharing their purchase behaviors with the brand, they still have control over keeping their personal identity anonymous.
Blockchain technology emphasizes the power that customers hold — for the first time, customers are in the driver's seat.
Key takeaway — users have full control over their identity and what data they share with brands.
With all of this being said, it’s clear that blockchain technology brings new opportunities to brands and users — creating a win-win situation for both parties. Consumers are getting a glimpse of what digital identity truly is as it develops into something we have never seen before.
Tune into the rest of the Step3 podcast series to learn more about Super Charging Loyalty with Web3.
If you are a brand, start creating unique experiences for your customers built on the foundation of transparency — check out the 5 Key Differences Between Web3 Marketing vs Web2 Marketing.