Mani Gopalaratnam, CEO & CTO, Resulticks, CIOSEA News, ETCIO SEA

As industries understand the far-reaching impact of Web3 and what it could mean for businesses, only a few have its functionalities charted out for a sufficient business plan. Companies in the martech industry are one of the few that have outlined a scope for their growth in the new reality of the internet amidst decentralised systems and stronger user and data privacy.

In an exclusive interview, Subramanian Gopalaratnam, Chief Executive Officer and Chief Technology Officer (Customer Success), Resulticks, discusses Web3 as a new phase of the internet, enabling decentralisation, innovations in martech technologies, and how they will shape the future of the industry.

Now leading a global omnichannel martech organisation, Mani has well rounded experience in multiple domains such as manufacturing, logistics, banking, capital markets, insurance, real estate, utilities and telecommunications. He heads a team of spirited product and implementation technologists in providing enterprise solutions in the areas of marketing automation, real time conversations and AI/ML and likes to play the role of a mentor and assistant. His specialties lie in the areas of cloud enablement, enterprise architecture planning, product design, and execution, among various others.

Here are the most interesting excerpts from the interview:

A new era of the internet is taking shape as we speak. Spearheading the web of tomorrow, it will be the metaverses, decentralised authorities, and next-gen technologies that will redefine tech in the everyday. To set the context, what are its implications of Web3 on the future of the internet?

Web3 marks a new chapter in the evolution of internet technologies, conceptualised to blend machine learning, artificial intelligence, and blockchain to enable—and enrich—real-time human communication. One immediate benefit of this paradigm is that it will enable individuals to not only own and control their data, but also to be compensated for their time spent online.

This is not the definition, to be sure, since Web3 as such has not yet seen actual widespread deployment. However, its inevitable arrival makes meticulous, proactive preparation necessary if you wish to avoid being left behind.

The advancements of blockchain technology and the emergence of digital tokens have enabled the establishment of a decentralised internet – one where tech conglomerates have no monopoly, and users attain total privacy and ownership. How will Web3 reshape the way organisations approach user data and privacy?

Web3 is also referred to as the “read/write/own” phase of the internet. Instead of gaining access to free tech platforms—such as Instagram—in exchange for their personal data, internet users can engage in the management of internet protocols directly. This means that they are becoming participants and stakeholders of the internet, not passive consumers or mere information sources for companies.

As Web3 approaches, we must brace for many disruptions as it will fundamentally shake up how business operates via the internet. Some of the changes are already underway. In the gaming space, for instance, business models are shifting from the free-to-play model to a play-to-stream one.

What’s the difference, you might ask? Imagine two games with identical gameplay. Game A monetises against the player’s time, passion, and skills as its main revenue stream, while game B treats the player as a valuable stakeholder, allowing them to buy, sell, and trade assets among each other. It is my firm belief that the former will soon become obsolete.

Unsurprisingly, business model disruptions go far beyond gaming. The use of smart contracts is already catalysing positive changes to business models around licensing and royalty (re-)distribution.

As an executive of a company leading the world’s first marketing blockchain, in your view, how will the martech landscape change along with Web3?

One of the emerging battlegrounds that will define future profit pools in Web3 is the concept of identity. Identity is central to what many see as Web3’s greatest opportunity: the chance to democratise the online experience, enable users to reclaim control over their data, and open the door to mass customisation of user experiences.

Web3’s approach to identity will have important implications for many other technologies such as artificial intelligence and machine learning. AI and ML are crucial to managing the sheer diversity and complexity of data required to serve and track customers in the evolved landscape. However, this potential can only be realised if effective, user-friendly processes are designed and implemented to share only the right data in the right contexts.

Marketers will have more room to create efficient promotion strategies in Web3. They have a new environment in which to experiment and carry out innovative advertising campaigns without the same outdated rules.

Thanks to the greater role played by AI, the new-age internet is also expected to possess human-like capacity for understanding data, thus empowering marketers to develop more personalised customer engagement strategies. What’s more, as data originates from multipipe servers, a complete paused caused by server failure is impossible. The result? Strategies devised and campaigns deployed—without any delay.

The impact of Web3 on marketing will be nothing less than seismic.

Martech is undergoing rapid changes with newer ways to interpret data and discern behaviour patterns. The advent of technologies such as Sentiment Analysis and CX Analytics is leading organisations to engage in more innovative ways of targeting customers. In the world of Web3, how hard-pressed is it for enterprises with a large number of customers to navigate these newer implementations? What are the biggest challenges?

Web3 isn’t just the latest phase of internet evolution. It is shaping up to be a revolution of the way we think and interact with each other online. It’s more than blogs, websites, SEO, and PPC ads. This new internet paradigm will greatly enhance the user experience through rich, interactive encounters.

As should be obvious, we’re not dealing with a quick tinker or painless upgrade. However, marketers can turn this upheaval to a major boon. Here are some of the factors they should take into account to truly reap the benefits of Web3.

1. Prepare for changes to user data collection processes and privacy protocols as consumers gain direct control over their data.
2. Marketing strategies will need to be more creative as, for example, cookies fade out of the picture and metaverse gains prominence.
3. Regear revenue models to allow content creators more autonomy.
4. NFTs will reshape the marketing experience.
5. Community-focused approaches will be essential while product-centred ones decline in effectiveness.

Before we bid adieu, Mani, what are your proposed top five best practices for CTOs and tech leaders when it comes to building the future of martech, especially with the emergence of Web3?

1. Focus on your customers. Turn that focus into practice through research, resources, and capabilities that will help you deliver truly personalised content and experiences.
2. Develop your own technology stack with the goal of creating relevant, meaningful experiences instead of just trying to grow a following.
3. Be transparent with your customers and reward their engagement.
4. Adopt a nimble platform approach and have the courage to experiment with integrations.
5. Foster teams with cross-functional ability and awareness rather than limiting them to rigid, siloed processes.