- An Introduction to Web3 from a Halal Marketing Perspective
- How to Leverage Web3 to Target Muslim Consumers
In the first part of the series, we introduced the concept of Web3 from a halal marketing perspective. Now we will go into the strategies and tactics that you can use to market and advertise to Muslims on Web3.
How Your Business Can Benefit from Web3
Transparency and user/customer focus will be two of the biggest aspects of Web3’s impact on business. Consequently, there will be a change in how firms utilize user data. All web apps will need a blockchain upgrade in order to function in Web3, as blockchain is core to Web3.
Let’s look at more ways your business can benefit from Web3:
Removal of Middlemen: Web1 and Web2 have centralized data as a common denominator. Infinite amounts of personal data are under the authority of high-tech companies like Google and Facebook, making them vulnerable to data breaches and manipulation. Due to the precision and transparency of blockchain technology, Web3 technology solves this problem.
Server Failureproof: Both Web1 and Web2 have experienced server failures that led to platform shutdowns, which caused significant losses for brands and companies. The latest one at the time of writing this article concerned Twitter and happened on the 14th of July. Web3 system supported by a distributed network renders this issue a thing of the past. Even if a single node or network of nodes goes offline, the dispersed network will still be able to support computing.
Reduction of Data Theft: Hackers will find it considerably more difficult to access sensitive data using Web 3.0. There is no single point of failure with blockchain technology because it is dispersed and decentralized, which makes it more difficult to corrupt. Your business won’t have to worry as much about data theft and data breaches thanks to the fact that blockchain data cannot be changed or manipulated.
Improved Customer Relations: Web 3.0 makes businesses directly accountable to their customers by recording every transaction in a decentralized ledger that is visible to all parties. Your businesses can utilize this transparency with their customers to develop relationships of trust and loyalty. Customers may trust that the information is accurate and legitimate because data saved on blockchains cannot be modified.
Better Supply Chain Management: Due to the transparency of blockchain, your business can easily monitor and manage its supply chains on Web 3.0. You can eliminate silos and are better able to manage time and costs while immediately identifying any issues with production and delivery services. You can also communicate vital details with suppliers to facilitate delivery, such as production schedules and contract deadlines.
Web 3.0 Halal Marketing Strategies
Web3 connects content and people with streamlined user interfaces and communication channels, enabling businesses to provide a more specialized experience.
Your Muslim-consumer-targeted business must adapt to Web3 gradually, now that the new internet version is available to ensure open access and transparency. Let’s look at some Web3 trends that can be implemented and integrated into your halal marketing strategy.
Grow Your Web3 Network: A strong network can be essential for a successful Web3 halal marketing approach, as it is in many other areas of your business. If you’re looking to interact with other businesses in the Web3 world, consider joining a networking group like the Coinbound Entrepreneurs’ Circle (CEC).
Metaverse: Your businesses can utilize the metaverse for events, exhibitions, and conferences to gain a competitive advantage. To properly market in the metaverse you must 1) insert your brand natively within the platform (ex. In-game ads), 2) replicate what you offer in real life in the parallel metaverse, 3) establish your own virtual venue (ex. If you sell cat food create a virtual cat asylum).
Read: Halal Advertising in the Metaverse and Is the Metaverse the New Online Frontier for Halal Brands?
Blockchain Technology: Through the use of cryptocurrencies, you can conduct transactions automatically, giving your users total control over their data. You can employ self-executing smart contracts to streamline commerce between you and your Muslim customers without the need for a mediator. By doing so, expenses from established methods can be reduced without sacrificing their validity and legitimacy.
Non-fungible Tokens (NFT): Create limited edition NFTs! It is a great way to connect with your Muslim customers and community. NFTs can be traded or sold in addition to being collected. You can also use NFTs for VIP access to an event, early product releases, or online content.
You can use them to raise money for a good cause. As a result of their immense popularity, NFTs can generate a lot of buzz and demand, making them a great strategy for attracting attention.
Web3 offers a lot of opportunities but there is still a lot to learn and discover. Visit our main blog post page or contact Muslim Ad Network if you want to know more about Web3 or marketing and advertising to Muslims in general.
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