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Understanding Blockchain And How It Is Responding To Marketing

Credit by Hamas Hassan.

Blockchain Will Better Connect Advertisersand Consumers

Source: Forbes

Marketers are struggling to access customers’ data by paying third-parties including Facebook. Blockchain helps retailers through micropayments, encouraging buyers to share their information directly, without involving a third-party.

This helps retailers in generating user-tailored deals by noticing user interest and can better interact with consumers by knowing their interests through the buying history.

Blockchain will bring democratization of data, enabling customers to control their data access. Users have the right to know how their data is used.

Cost-Cutting and Improved Efficiency

Blockchain eliminates third parties’ involvement in transactions, emails, or other advertising. It offers brands with a direct line to each customer, and budgets that were previously devoted to mediators now can be used in other areas.

Blockchain Technology Will Reduce Fraud

Source: magnifymoney

Online advertisement is challenging in ensuring the intended results. Blockchain will enhance transparency through a cryptographic technique that keeps a data tamper-proof and uncensored. Blockchain will verify who, how and where ads run plus, will continue to figure out how marketers can stop fraudsters from stealing ad dollars from brands.

Blockchain Will Personalize Digital Marketing

Implementing a Blockchain-based software named Basic Attention Token (BAT) will help advertisers and publishers to better interact with users. BAT includes three steps when it is used in digital advertising:

  •  Advertiser’s buy ads on the Brave platform, which holds BAT

  • Users choose advertisements they want to watch rather than watching a number of irrelevant ads. Users will be compensated with a small portion of what the advertiser paid to buy the ads

  •  Advertisers also pay publishers a portion. The payment allocated for publishers is larger than that allotted for consumers.

Boosted Accountability for Publishers

Advertisers are not sure about how publishers are utilizing their advertisements. Ad frauds require transparency to be controlled. Blockchain’s decentralized property help advertisers to watch who is seeing their advertisements, ensuring marketing efforts have been made for real people, not for bots.

Blockchain Will Change Digital Music Ownership and Marketing

Back in the 2000s, digital music was popular enough, but marketing efforts for musicians were challenging due to the piracy. Today, people rely on applications like iTunes and Spotify for music streaming. These applications are dropping piracy to some extent but still, musicians only receive a small fraction of transaction when their music is played.

Artists and musicians can utilize Blockchain technology to eliminate the need for intermediary applications including iTunes and Spotify.

Blockchain projects will allow musicians to directly sell crypto token to their fans. This will promote the proper purchase of music, live shows in exchange for tokens.

Artist could set a time limit on tokens with the Blockchain technology, which will determine the token’s validity.

Smart Reward System

A Blockchain-based gift card is more reliable for customers. Often, customers collect various gift cards and don’t utilize them if a few bucks are left, or they cannot buy anything useful with the available gift card. This creates a bad user experience.

Blockchain technology will bridge this gap by converting gift cards into digital coins that will enable customers to redeem them when needed. Customers will combine various coupons, gift cards and will redeem them in a single transaction.

Blockchain Will Benefit Social Media Marketing

Facebook and other social media accounts have involved in posting false news for several years. Blockchian distributed ledger system can work well to solve this issue. This distributed ledger can verify identities, information, and data that has been posted.

Virtual marketplaces are focused on growing specific company needs and interact with like-minded companies or vendors via Blockchain-enabled social platforms.

As Blockchain technology is getting prominent and mainstream, marketplace verification will upsurge a company’s potential for growth.

Incorporation of a decentralized system will help social media advertisers to target potential clients in their campaigns directly. Ultimately, they will have a higher ROI since they focus prospects with high potential.

Blockchain-The Way Forward

Source: wegacha

Blockchain is a robust technology, it can provide endless opportunities for marketers and will bring marketing to the new level.Blockchain will be used for countless marketing aspects. Its applications comprise the ability to change the digital marketing world as we know it.

Undoubtedly, Blockchain is here to stay. Blockchain technology will begin to see extensive adoption in the next two to three years. If digital advertisers want to stay on top, they will require heavy investment in the Blockchain with a focus of marketing.

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