Why Web3 Needs Its Own CRM
Examining why Web2 CRMs are not built to serve Web3 businesses
The decentralized web is built on a foundation of trust and transparency, and this trust is earned by building relationships with the community and users. Web3 businesses are fundamentally different from web2 businesses as they’re community-driven. This means that web3 companies need customer relationship management solutions (CRMs) designed to support decentralized and community-based business models.
While traditional Web2 CRM systems may be useful for certain purposes, they are not compatible with web3 infrastructure and are not able to support the unique features and capabilities of blockchain-based systems. A CRM used by web3 businesses should also prioritize user privacy and security, allowing users to have greater control over their data and fostering trust and transparency in the decentralized web.
In this blog, let’s discuss why web3 businesses need a CRM that’s built for them.
Compatibility with Web3 tools
Web3 companies need CRM systems that are compatible with blockchain technology, and that can support the unique features and capabilities of blockchain-based systems. Traditional Web2 CRM systems are not designed to be used with blockchain technology and therefore are not able to support the unique features and capabilities of web3 infrastructure.
For example, a CRM used by Web3 businesses needs to be able to connect to users’ wallets in order to gather wallet-based customer data or to facilitate the transfer of value and resources between the business and the community. This requires compatibility with blockchain technology, which traditional Web2 CRM systems do not have.
In addition, a CRM needs to be able to support the decentralization and transparency of blockchain-based systems. This could involve providing features such as transparent and auditable record-keeping, or the ability to track and verify the flow of information and resources within the community.
Connecting with the community
In Web3, the focus is on building trust and transparency with the community and users and thereby achieving growth. The current Web2 CRMs are not designed to serve community-driven business models adopted by web3 businesses but only focus on lead generation.
A Web3 CRM should be designed to help businesses and organizations build and maintain relationships with their customers and communities. The platform should offer two-way communication, allowing customers and community members to provide feedback and suggestions, and facilitating the exchange of information and resources between the business and the community.
In addition to fostering trust and transparency, a Web3 CRM can provide valuable insights into the demographics of a community. By aggregating data on the interests, preferences, and activity history of community members, Web3 businesses can better understand and serve their community. This can help identify the players who contribute the most value to the community. By understanding the characteristics of these players, businesses can try to attract new members with similar profiles to further grow and strengthen their community.
Security of user data
One of the main differences between Web3 and Web2 companies is the emphasis on providing users with greater control over their data. In a Web3 environment, users are typically given more control over how their data is used and shared, and a CRM system should be able to further support this model.
A CRM used by Web3 businesses should prioritize user privacy and security and should allow users to have greater confidence in how their data is being used and shared, and help to foster trust and transparency in the decentralized web. A CRM should further provide users with the ability to opt-in or opt-out of sharing their data with a business, as well as give them the ability to access, view, and edit their data at any time.
How Cardstack can help?
Soon to be launched, Cardstack’s Boxel Composable Application Development Framework can be used to build and scale a Web3 project from the scratch including CRMs. Want to learn more about Cardstack’s Boxel Framework? Write to us at communications@cardstack.com
Read more about the future of blockchain technology below.
Why Businesses Are Moving Their Loyalty Programs to Blockchain
Why Composable Application Architecture Is Key to Scalability
