“One of the best parties I have ever had so far.”
Oww, what was so special apart from the food and cocktails? or was it best because I was working and you were enjoying singlehood?
Common! I left that feeling the day we got married. It was the conversations, I guess! We were all engrossed in futuristic talks that I almost started imagining our future in the metaverse. Do you know, now we can see exactly how our furniture would look in our bedroom or kitchen with Ikea through just a mere phone camera?
Oh, is it? How?
Web 3.0, sweetheart! It’s the next-generation thing, and I already have a new business expansion plan for our creative agency.
No! It’s for any and every business. The benefits are multiple, especially for small businesses like:
1. Present products in large market space
Web 3.0 eliminates the boundaries of physical land and geography. Instead, it’s a virtual space; the entire world can access it from any dark and bright corner at any sun and moon hour without restrictions or limits.
The products presented have a higher reach and the opportunity to compete with the right competitors in a similar industry at the right prices, allowing you to understand the USPs and glitches of your goods. The same will motivate you to constantly improve and present a better item in the market to win over others, keeping your profit margins at the highest.
2. Enhanced security
“Why is my website not ranking on the first page of search engines?”
It’s because you have plagiarized content.
“But, we have curated it all originally. Maybe we took just the inspiration from fellow niches.”
That’s not allowed because the web can’t have anything similar! Rest be ready to not rank!
Have you come across a similar issue or overheard a similar conversation? Unfortunately, despite having the best product and packaging, they don’t reach the right audience due to complex algorithms and security issues. This problem exists in web 2.0 technology as businesses depend on search engine ranking metrics, often losing out on target audiences.
Web 3.0 eliminates this shortcoming. You can list your product or service in the virtual market without worrying about algorithms or someone copying your creation. It is a secured space, and each item is enlisted with a unique code, impossible to decode even by experts, helping you reach your right audience and saving you from possible cybercrimes.
One additional benefit of Web 3.0 is it works in close net with AI-Algorithms like ‘Semantic Web’ that quickly scan the space and suggest ideas. The feature helps small businesses put out content intended for users only and not just algorithms, allowing less keyword stuffing to reach the targeted customers. Instead, interested audiences search for it at the right time and place, making it more accurate and quick to convert into sales.
3. Saving of resources
Web 3.0 is out in the market in the name of ‘Find engine’ and not ‘Search engine’. Once stored and digitized, the data needs no further look into or alterations, saving a reasonable amount of time and resources.
For instance, you don’t need extra man-hours to upload your new products and remove them manually once they are no longer required. It is a one-time thing in web 3.0, and till you have the availability, it will keep existing there on the virtual platform with a security code.
It allows room for important work and saves time on less efficient and repetitive things, allowing you to plan and align with the goals.
4. Direct dealing with stakeholders
Web 3.0 segment runs on ‘Smart contracts’ and the concept of ‘No-third party or mediators’.
It eliminates in-person dealing. For instance, if you wish to sign a contract, you don’t need to be present there and sign it or e-sign. Instead, you can sign the agreement online and verify it through dedicated codes.
The entire thing makes dealing with internal and external parties easy, seamless and secure.
5. High accountability of transactions
Each transaction is backed with a unique token to the deal and cannot be recreated, copied or transferred. The ownership lies strictly in hand and can’t be misused by any hacks.
It creates a sense of trust and accountability between two dealing parties for each transaction carried out under the sphere of web 3.0.
On the other hand, the accessibility is permissionless and does not hamper the real-time need and importance of the transaction, making it a flexible network point.
6. Better regulatory compliance
Every server and website has basic regulatory norms that must be complied with to keep it in favor of fellow users existing on the platform. The rules must be adhered to without any ‘Ifs’ or ‘Buts’ in order to keep things under control.
Web 3.0 brings in a new sense of security with the use of blockchain that enhances security and safety, allowing the users to abide by the compliance easily as it would be a beneficiary factor for them. Unless in Web 1.0 and Web 2.0, where each transaction is not followed up strictly, and there would be easy chances of violation to make things in their own malicious favor.
7. Increased client relationships
Micheal LeBoeuf once stated, ‘A satisfied customer is the best business strategy of all’, and Web 3.0 will allow you to take it seriously and implement it well!
Web 3.0 allows you to communicate, create content and deliver to the client in a private affair, allowing it to keep it accurate and secure. Furthermore, the portability feature adds to the game as it helps your transfer to multiple servers without restrictions. Therefore, even if the technology goes obsolete, the customer’s and client’s digital assets remain safe.
8. Transparency and trustworthiness in Payment systems
‘Elimination of credit cycles’
‘No more money frauds.’
‘No lockers needed.’
Small businesses need not worry about any security threats related to payments and can do each transaction simply, securely and seamlessly.
It’s all crypto-accepted and crypto-protected in the Web 3.0 world! Just sit back, sell and spell up your revenue figures!
9. Funding made easy!
Thanks to DAOs! It just did the work for you!
DAOs, decentralized autonomous organizations, is a system where the organization’s heads and shareholders can provide funds for interest projects via sales tokens launched at the organization’s inception. Each sales token is counted as one vote from the holders, and the best part is there is no following of a hierarchy system. Instead, every member has equal rights and can contribute at their will.
There would no longer be a typical funding pitch, and the panel will scrutinize the project. The businesses needing funds can be listed on the server, and the interested investor can opt in directly.
As easy as a PIE? Isn’t it?
10. Easy trackability
All products are listed on the server with a particular code; to search it, as a seller, you just need to enter the code, and the product will appear right in front.
The same applies to buyers as well. Enter the code and find the right product in need.
The traceability is quick, thus saving energy, resources and weekends, in case!
11. Exposure to multiple market experiences
If you wish to reach your customers, you need to be present where your customers are!
They may be offline, online or virtually; if you wish to reach them, you must be right there.
Consider it one opportunity to target your customers via web 3.0 and make it huge.
The virtual space is predicted to be vast and competitive; not having a product or service on the new platform will leave small businesses behind the competition.
12. Good ROI in marketing efforts
The marketing will not just be limited to newspapers, Google ads and Facebook ads. Instead, it will spread to a more extensive audience base, meaning less effort and higher returns.
In addition, the marketed products on sale earn royalty when sold for the second or further time. Also, the revenue is direct without commission or intermediaries, keeping more share of the profit in the pocket.
13…. Wait! “Are these benefits enough for you to be convinced of how web 3.0 would help small businesses, or do you need more points? Because I can still go on!”
No, all convinced Mr.
You just made me feel like trying it for my business and grab the newest prevailing opportunity in the market.
Yes, for sure! You should, actually!
It’s best to – ‘Be an early bird and catch that worm; it’s not always advisable to be a second mouse’- you won’t ever regret it!
Let’s just dive into the real world as of now and plan about the virtual one!