A marketing manager's role is already strange and varied. A wide selection of skills is already needed to complete day-to-day tasks and understand the specialist skills of the team you manage.
Marketing is also forever evolving. New technologies mean managers need to continuously upskill if they want to stay on top. One of the biggest disruptors that marketing managers need to be aware of at the moment is web3.
In this blog post, we look at what is web3, how the web3 way of working changes the role of a marketing manager and the web3 skills that marketing managers need to learn.
Web3 is the new generation of the internet. A key definer of web3 is that it is shifting power from big tech to individual users.
We have already had two generations of the internet –web1 and web2.
Web1 arrived way back in the 90s when the internet first started to take off. It consisted of basic web pages, collections of links, and simple site homepages.
Web 2 came a little later. The major shift was that users could now open and edit files instead of only viewing them. Users went from simply consuming content to also being able to create it.
Web 3 takes this a step further. Beyond consuming and creating, users are now involved in ownership. Users can now participate in the governing of internet platforms and protocols themselves.
A great example of how web3 is creating a shift is in the gaming industry.
Gamers have complained endlessly since video games emerged about how developers don't fix the bugs in their favourite games or how a new patch has thrown their favourite weapon out of balance. With Web 3, gamers can invest in the games that they play. They can be more than consumers, becoming owners as well. This then gives them a vote on how things are run with that game and they get to have a say in what bugs and patches can be fixed.
Job postings in web3 grew by more than 400% in 2021. Marketing managers need to keep on top of this new technology and ensure they are fluent in all the web3 platforms that are emerging if they want to stay in their positions.
Here are some of the web3 specific skills you should be aware of and start learning.
Web3 entails working in a more ambiguous environment than web2. It’s more art than science because currently there is very little user data due to both the small user base but also the values behind web3.
You will find that marketing in web3 environments requires you to use your intuition more. You need the ability to be decisive in an ambiguous environment to effectively use your time and resources.
Discussions in web3 are more public than they have been in web2. Discussions tend to happen on Twitter, Discord, Reddit etc. and these platforms allow your conversations to be viewed publicly.
As a marketing manager, you have to be able to navigate public discussions and be able to keep a consistent voice that well represents your brand. You need to be effective at community engagement and make this a priority over being analytical and influential behind closed doors.
During web2, you may have been hesitant to have active social profiles like Twitter. You were possibly worried about the professional consequence of saying something online that might be taken out of context or not looked on favourably by your boss.
However, in web3, not having a Twitter profile almost makes you untrustworthy. A viral meme can be of greater importance to your brand and career than a well-crafted email.
You need to be able to understand and use web3. A great place to start is reading anything by Linda Xie, and by checking out the Web3 University.
Once you understand it, you can then start using it. Using it personally and experimenting with platforms before you are required to use them at work will make you feel more comfortable with them and pitching their uses to your bosses.
You can start by buying some cryptocurrency on a platform like Coinbase, FTX or Binance. You can then send it to a web3 wallet such as Metamask for Ethereum. Then you can start staking your crypto or swapping it on a platform like Uniswap.
You can find an NFT collection that you like, join the Discord for that NFT community, and start engaging with it. You have to live web3 to really be able to understand its full potential and how it can be implemented in your marketing.
Web3 is an in-demand skill. If marketing managers want to continue to excel in their careers, they need to learn it. The above ideas are a great place to start. If you have any other web3 skills you think are essential to learn, leave them in the comments below.
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