Generating Leads For Local Businesses Using Web3 Technology
As of the beginning of the Summer of 2024, most local business owners still do not yet have a web3 strategy to help generate local leads for new business. This is true after numerous conversations with local business owners this year across a wide range of industries such as:
- Attorneys
- Real estate agents
- Med spa owners
- Chiropractors
- Plumbers
- Pest control services
- Driving schools
- Many other businesses which are common throughout the United States, Canada, United Kingdom, Australia and similar countries
During these conversations the most I typically get is something to the tune of, “My family member (or friend) has some Bitcoin. So how is this weird technology going to help me grow my business next month?!? Why should I care about web3?”
These are great questions!
The big takeaway is that there actually are several ways in which someone who makes decisions for a local business can use web3 technology, even at the local level.
Some Potential Use Cases And Problems Solved By Web3 At The Local Level
Since your goal is to grow your local, or regional, business quickly then you may be wondering if web3 can do anything to help you. The answer is not just “Yes”, but a “Yes” in several ways.
Please note that “web3” is so much more than just a few crypto tokens or some non-fungible tokens (NFTs) of cartoon-looking apes!
It is true that there is an entire new industry jargon to learn including words & phrases like:
- Blockchain
- Smart contracts
- DeFi
- Digital assets
- Hard wallets and cold wallets
- Tokenization
- Real World Assets (RWA‘s)
- Decentralization
- Stablecoins
- Digital identity
- Token-gating
Despite what looks like a steep learning curve, you actually don’t have to spend countless hours to help you with your main desired outcome: growing your business and keeping your existing customers (or clients / patients) happy enough to refer new business.
In no particular order, here are some of the potential use cases and problems you experience which can be solved by web3 technology.
- Having your office interior mapped onto a digital assets and people can interact with it in platforms tied to your actual office location. Google Earth cannot yet do this, and “virtual tour” video production costs can be cost-prohibitive for many small businesses
- Low-cost advertising around town to users of various web3 platforms, including Augmented Reality ads
- An example is if you operate on one side of town, but your desired audience is spending time physically in another area of town
- Those who may be using certain Augmented Reality phone apps (or A.R. glasses) could see your value-adding advertisement in that area of town
- Real estate agents and developers can allow users to see Augmented Reality of the completed project to those who would be looking at an otherwise-empty plot of land before construction begins
- Local event centers can create a “metaverse” of the trade show to exist long after the conference or event is finished
- This could give those who couldn’t attend the trade show a similar “feel” to walking around the trade show and interacting with the exhibitors (vendors)
- This also could increase the return on investment for those exhibitors and, in turn, increase the odds of paying to sponsor the event again
- Mapping out areas of town which are of potential interest to prospective customers and sharing that link with them on social media, QR code, local chamber of commerce meeting, etc.
- Sponsoring local landmarks inside various metaverse platforms so long as they are relevant to the visitors
- Creating Artificial Intelligence (AI) avatars which are able to answer questions about various local topics
- In addition to answering questions about your particular business, you also could make “local avatars” which answer questions about topics of interest to people in town
- For example, you could have an AI avatar get populated with information about a new neighborhood and prospective home buyers (or even newcomers) could ask the avatar their questions
- Should the answers be of high quality then that avatar starts to generate trust in people locally, and that avatar could direct people to your business
- You even could set up a process to accept cryptocurrency payment for a portion of your sales in order to reach new local audiences
- Please check with your legal and tax advisors about this
- This is a good way, if approved by your advisors, to help sell excess inventory of your time or products while reaching a new – and possibly younger – audience at the local level
- Gamifying your local business
Here is an example of a potential metaverse trade show:
How Can Web3 Reach New Audiences For A Local Business
In addition to your current customers or clients, and their friends and family members, you likely are relying on the following methods to grow your business locally in a suburb or city of at least 50,000 people:
- Word of mouth
- Facebook and Instagram
- Other social media (possibly Twitter/X and Reddit)
- SEO
- Yelp
- Paid ads
- Chamber of Commerce directory
- Google Maps or Apple Maps
These are all terrific. However, you still can reach brand new audiences using a customized web3 strategy. These could include people who live in town as well as those moving to town who are into:
- Cryptocurrencies
- NFTs
- Web3 domains
- Virtual real estate platforms
- Metaverse fans
- Financial professionals who understand the tokenized Real World Assets
- Those who study upcoming changes in the financial system with stablecoins and foreign currencies, such as those who are following news pertaining to BRICS (as of the summer 2024)
- Crypto-based video game players
- Artificial Intelligence users
These Web3 Topics Are Just The Beginning To Help A Local Business Generate New Customers
We didn’t even cover the topic of using web3 assets for SEO purposes such as explained here:
You also can “token gate” an exclusive community on Discord or Telegram where holders of certain NFTs, POAP tokens, or other digital assets then would have access to the private community.
The takeaway for you today is to realize that you can grow your business at the local level with a customized, well-planned web3 approach. Since most of your competitors do not have any idea about web3 and how to use it for their businesses, this gives you a “first mover’s advantage” in the short term.
However all of this requires deep discussion and a possible change in how you approach prospective customers. You must focus on value, engaging with them in new ways, and methods to increase the trustworthiness of your company at every step.
If this is something you would like to discuss further then you are welcome to schedule a consultation at this link:
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