Web 3.0 and the future of modern marketing

Web 3.0 has the potential to transform the way businesses operate and interact with customers

Renowned management theorist Peter Drucker once said: “The best way to predict the future is to create it.” If we look back at some of the technological advances, geopolitical, societal and cultural shifts, and the environmental and economic shocks that surfaced and permeated the public discourse in 2022, a picture begins to emerge about how a combination of these elements will inevitably shape the future of marketing.

Modern marketing is inexorably shaped by these factors as well as by how these factors influence the behaviours, needs and preferences of our customers. Marketing in 2023 will become even more personalised and customised than before as businesses use data and technology to better understand and meet the needs of individual customers.

Marketing will also continue to become more omnichannel, meaning that marketers will need to consider the full customer journey and the different channels and touchpoints that our customers use to interact with us, across the various stages of their customer life cycle.

Looking at the disruptive technologies that have emerged over the past few years, there are a few that are most likely to influence what marketing looks like in 2023:

Artificial intelligence (AI) and machine learning will play an increasingly central role, helping marketers analyse customer data and behaviour, improve targeting, automate tasks and deliver personalised experiences to customers in real time. For example, AI can be used to generate personalised recommendations or to optimise ad targeting based on the discernment of individual preferences.
The internet of Things (IoT) enables the interconnectedness between everyday objects, from the smart appliances and wearable devices we buy to the packaging our items are delivered in. Marketers can use the wealth of data generated by IoT to better understand customers’ preferences, behaviour and usage context, and then to create targeted campaigns and post-purchase communications based on this information.
Virtual reality and augmented reality technologies are also becoming more important for marketers, as the technology improves and brands find innovative new ways to use these technologies to create fully immersive and interactive experiences for their customers.
Influencer marketing on social media channels will continue growing in effectiveness, enabling brands to reach and engage with customers, and will continue to stimulate the rapid growth of social commerce.