Marketing plan must tap Web3

It is said that Web3 will have a strong impact on applications and the extensive use of blockchain-based technologies

As most businesses have embraced digitalization, the newly-elected president of the Philippine Marketing Association said the marketing approach in all industries should now be handled by traders that have knowledge of the digital world, particularly Web3.

It is said that Web3 will have a strong impact on applications and the extensive use of blockchain-based technologies. It will also make use of machine learning and artificial intelligence to help empower more intelligent and adaptive applications.

According to PMA president Sy Bryan Lato, since the intricacies of Web3 should be common among millennials and other age groups, GenZs, or those members of the generation of people born between the mid-1990s and mid2010s who are seen as confident users of new technology, will be dominating the marketing world.

Lato noted that millennials and members of Generation Z now dominate the market, as they are perceived as the internet natives as they were born during the decade when it was already in use.

“Reaching this market is another challenge that Filipino marketers face. The PMA would like to help them tap into this demographic sector by showing them how they can effectively apply Web3 technology to market their business,” he added.

Going digitalized

With this inevitable truth, Lato said that they will push for initiatives and collaborations that will increase Filipino marketers’ knowledge of the application of Web3 technology in marketing.

“When the economy opened last year, we saw the physical and digital worlds intersect. People who returned to work endured heavy traffic and still attended online meetings at home. The challenge for Filipino marketers is to be able to help institutions and businesses communicate their message to every preoccupied consumers,” Lato said.

He said that for 2023, the PMA has adopted “Level-Up Metaverse Marketing” as its theme, inspired by past PMA president, Dr. Donald L. Lim, who was the lead convenor of the recent Philippine Blockchain Week.

Also, the PMA president said aside from the digitalization push, one of the organization’s major initiatives for 2023 is allowing Filipino marketers from other countries to join the PMA.

“I want the PMA to be a platform for intellectual and marketing discourse. By opening its membership to Filipino marketers abroad, we are making them a part of the discussion. We could exchange data, executions, and best practices. They could gain insights about the Philippine market and, in turn, share their own ideas with Filipino marketers in the country,” he explained.

PHOTOGRAPH COURTESY OF SMC Beating flood scourge SMC President and CEO Ramon S. Ang (second from left in black cap) oversees San Miguel Corp.’s campaign to clean up the Pasig River that raised the waterway’s flood-carrying capacity. From just two to three meters deep at the start of the project, completed sections now have depths of up to five to six meters.