What is web 3.0 and how it will change the way of doing Business?

It’s fair to assume that we live in a world of constant evolution, and when it comes to technology this couldn’t be truer.

Web 3.0 is the next big step towards the Future of the Internet, but let me be clear, It’s a currently a concept-in-motion and thus, there is no clear definition of it, nevertheless among all possible opinions and definitions about it there’s one from British technologist Conrad Wolfram that in my opinion, better catches the essence of it by defining this paradigm as: “Where the Computer is generating new information rather than the People”.

This being said, Web 3.0 it’s a new and exciting era within technology that will certainly change our lives and the way we do business, so without further adieu let’s dive deeper into this concept.

The Evolution of the web

To better understand Web 3.0 we must put it into context, don’t worry we don’t want to bother you with a list of prehistoric events that lead to our present times but here’s a quick overview of what’s being happening so far in the world of web.

• 1990’s: We got the first generation of the web 1.0, the giants of that epoch were companies like AOL, Yahoo, and Google. That early web was about connectivity and the potential was huge. It was “read-only”, so in order to put content in it you had to know HTML and FTP and other acronyms. But with this early web, businesses could take their marketing brochures and turn them into websites; they were an important first step towards creating a connection with a customer in a new unforeseen way.

• 2005: Fast forward 15 years, web 2.0 came along, this time it was read / write, and you didn’t had to be a technical wizard in order to get content in it. With web 2.0 came this massive shift in buyer behavior creating huge opportunities for Businesses as they could now create a blog, engage on social media with the newcomers like Facebook, LinkedIn, Zynga, Twitter, and Quora as the foundational creators of the web’s ‘social layer’ and otherwise add value to customers before they try to extract it.
  
  We called this process Inbound Marketing and it was a game changer. This user interaction became possible because of the invention of technologies like JavaScript, HTML and CSS, which allows developers to build apps where users can interact with content in real-time.
• Nowadays: we are looking into a new, exciting face of the web. We are still years away from its creation / consolidation but the pieces are already starting to fall into place:
  
  We have crypto currencies like Bitcoin, and decentralized platforms like Etherum and decentralized Social Networks like Bitcloud.
  
  Moreover with web 3.0, we are looking into a virtual world being created through the web but not anymore limited to the squares corners of your computer or smartphone. Also, following the latest news about Facebook investing $10 billion in its own web 3.0 called the Metaverse, huge developments in terms of IoT and AI are expected in order to give life to this project.

Decentralization? Virtual world? Metaverse? You may be (as we were), a little confused about all these new words and concepts, but don’t worry in a few minutes we are going to put some order in your mind and also answer to your more than expected question: Why all this matters to me?

What can we expect from web 3.0?

As HubSpot founder Dharmesh Shah said: “Web 3.0 its about Decentralization, about putting power back in the hands of the people”.

What does he mean by that? In a Decentralized web 3.0 you own and control your data (purchase history, preferences, connections, credentials etc.) So YOU get to decide which companies that data gets shared with and if anyone gets paid to access to it that’s you.

In other words, our personal data won’t belong anymore to a few big tech companies acting as a central authority which we can’t really compete against, one of the most significant implications of decentralization and blockchain technology is in the area is data ownership and compensation:

• Web 3.0 is in many ways a return to his original web, where no permission is needed, there is no central controlling node, and no single point of failure, and no “Kill the switch”.

• Individuals will be able to rightfully own their own data. The chronic interruptions that have become the norm in web 2.0 will disappear as decentralization also makes possible transparent, opt-in, peer-to-peer communications that allow individuals to take ownership of their precious time.

In sum, web 3.0 will bring us a fairer Internet by enabling the individual to be a sovereign. True sovereignty implies owning and being able to control who profits from one’s time and information.

All right, all this seems pretty exciting but…

How does this matter to my Business?

Because this web 3.0 model will provide us a new direct way to forgeconnections with our customers. Here’s why having a CRM that combines Marketing, Sales and Customer Service in a unique platform like HubSpot will help your Business forge these connections and embrace the changes to come.

Instead of advertising to the masses that we know little about in comparison with the big networks, we can forge direct connections with prospective customers and we can provide them a customized experience based on data they willingly share with us.

• It’s a much more efficient and much more trustworthy model.

We are already seeing this in action; Facebook is investing its time, energy, and money into the metaverse, a visual reality environment supported by Oculus.

Our access to the Internet will no longer be restricted to the screen in front of us. Soon it will be all around us.

What should I be doing?

 Embrace the idea that we’re in the age of the Customer, embrace the idea that overtime, customers are going to have more and more Power and they are going to be equal partners in the relationship with us.

Your growth on the long term is a function of how much customers love the experience you give them.

Abandon the funnel vision:

• Your CRM Platform should help you deliver a better-connected, customized experience that’s focused on the customer.

• The CRM should put the customer first in the design, because better customer relationships lead to delighted customers, and that’s how you can grow in a sustainable way.

As you see, new and exciting things are yet to come in the world of web, the evolution is unstoppable and challenges will arise. Being prepared for these challenges in our business model means having the ability to embrace changes, embrace them by having the appropriate tools to manage your customer relationships in a way that delights them by creating experiences they’ll remember and by forging new, quality connections every day.

With HubSpot CRM you’ll be able to forge these connections while managing all of your Sales & Marketing materials from the same platform, we, at mbudo, are a proud HubSpot partner and have great knowledge on creating new marketing opportunities for our customers.

 If you’d like to know more, please do not hesitate to contact us, we’ll be happy to help you!