That might work for B2C, but we're a B2B company…
We hear this all the time from executives at large companies who are curious about Web3 and what is commonly referred to as the Metaverse.
While it’s true that many of the use cases for these virtual worlds and NFTs lend themselves to B2C marketing campaigns and community building, there are a number of B2B applications that marketers should consider as part of their strategies as the world slowly but surely transitions to Web3. Let’s explore eight ways to apply B2B marketing in Web3 and the Metaverse.
Collaborate with other brands
Influencer marketing and collaborations have become “business as usual” in the world of Web 2.0, particularly on Instagram. But when it comes to Web3 and B2B marketing, the possibilities for partnerships have expanded.
For example, non-competing brands that target the same audience could conduct co-branding experiments in the metaverse to capitalize on their respective audiences.
These experiences could include, but are not limited to, the following:
- product announcements;
- product showrooms;
- educational sessions and conferences;
- networking events;
- updates about the company.
Brands can introduce a POAP—that is, a Proof of Attendance NFT—which users collect when they attend, for example, a product launch in the metaverse. This NFT can allow holders to receive discounts on products. For example, 100 free subscriptions to a software suite, 100 hours of free consulting, or any other service you can imagine for your target audience.
Build relationships with partners
Brands can use Web3 to build stronger bridges and connections with their customers and partners.
For example, brands could feature their customers and their customers' products in their own metaverse experiences and events.
You could lend your increasingly expensive metaverse land to your customers and partners for free so they can organize their own experiences (much like letting a friend crash on your couch).
We're still in the early stages, but the opportunities to collaborate or give customers and partners a competitive edge in the metaverse are vast, and the use cases mentioned above only scratch the surface.
Also, in case you haven't noticed, any rumor that a major brand is entering the metaverse tends to attract media attention—and as the saying goes, any publicity is good publicity.
Encourage sharing and evangelism
It’s one thing to ask a customer for a testimonial and to ask them to recommend your company’s services to their associates. But it’s quite another to incentivize them with your company’s native token.
Tokens are the lifeblood of Web3, and whether they are fungible tokens—such as ETH or SAND—or non-fungible tokens (NFTs), they can be used effectively to incentivize people like never before. In fact, many Web3 projects have allocated about 20% of their tokens to sales and marketing in order to incentivize people to use and share their product.
Advertising in the Metaverse
Traffic is always monetized, whether it’s a busy highway, your Instagram feed, or—now—the many metaverses that are riding a wave of momentum.
Aspiring advertisers can use the virtual worlds of The Sandbox, Decentraland, Crypto Voxels, and others to promote their brand to their target audience.
It is important to note that advertising in metaverses is not yet as sophisticated or programmatic as it is on Web 2.0, but it can still be used strategically, with billboards and other forms of advertising placed in key locations and events where your target audience is likely to be found.
Encourage engagement with and use of your brand's products and services
LooksRare, an NFT marketplace, offers users a compelling point of differentiation from its rival and leading marketplace, OpenSea. OpenSea charges a 2.5% commission on all transactions made on its platform (effectively operating as a centralized organization).
However, LooksRare redistributes 2% to the traders themselves (by actually distributing rewards for using the platform).
This “token economy” can be integrated into your brand’s Web3 strategy. For example, you could pay your customers with your native tokens for using your services: real tokens that they can exchange for ETH or fiat currencies on exchanges.
Rewarding shareholders, customers, and partners
Aside from sending Christmas cards and bottles of sparkling wine—which most people find far too sweet—brands can reward loyalty by creating their own NFT collections and depositing them into the wallets of shareholders, customers, and partners. Why not commission a local artist to create a series of 3D animations that you can then distribute to your customers? A sensation is guaranteed!
Focus Marketing on Data
One of the key features of blockchains is that they’re transparent. You can see how much crypto a wallet address holds and what transactions it has made on platforms like Etherscan. With sophisticated analytics, you can get a relatively accurate picture of what your audience is spending on crypto online and target them accordingly. Data, we tell you… Data!
Offer content and a private community
You can use a social token or an NFT to give your target audience access to exclusive content, such as a Discord community, support channels, videos, articles, AMAs, webinars, and more. The exclusivity of access and the quality of the content will make your approach credible and generous, and will reassure your clients that they made the right choice in working with you.
And that's not all!
We still have tons of other ideas for building high-quality B2B relationships using blockchain technology and the potential applications of the Metaverse. We’re just getting started. But it’s the pioneers who will discover the best lands! Go West, cowboy!
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