Marketing has been stuck in our heads since the inception of Google, well everyone knows how Google has redefined the perspectives and parameters of ‘Traditional Marketing’. Marketing is a shackle that wraps around the customers’ minds and you can’t just get rid of it.
Let’s just brag about marketing a bit with a famous quote from Czech writer Milan Kundera “Business has only two functions- marketing and innovation”.How does that sound now? Pretty much convincing, right? Then wait for the real facts now; we have cracked some of them below. Marketing has changed a lot in the past decade, but do you know it is going to face the blockchain revolution.
You must be thinking blockchain is a bitcoin, a crypto thing, and how blockchain would resonate with marketing? To many of us, blockchain seems seedy only and it is just about the cryptocurrencies. That’s absolutely not true! Spilling the beans about blockchain here, actually, blockchain is the one that ensures transparency that makes it worth the trust.
How is Blockchain driving Digital Marketing?
Marketing with the phenomenal blockchain is in the mainstream now and is going to be the most disruptive technology yet to shook the marketers in every industry While most of us still associate marketing with analytics and AI, and the fact goes far beyond that blockchain would secure the integrity of information.
A Quick Short Introduction of Blockchain!
Blockchain is a decentralized system that enables transactions between two parties without the need for third-party verification, it doesn’t involve any invading party. Dating back to the era when the boom of bitcoin entered with a decentralized system blockchain. The use cases of blockchain were limited around finance and crypto-currencies, but recently, it massively impacts marketing.
Following are the top picks for the benefits of blockchain in digital marketing for the better—and forever, moving forward.
Improve Data Security
Selling online can be a bit risky, it can put the data protection at risk, but we don’t need to worry because Blockchain has got us covered. Blockchain is committed to improving data security. Earlier the Artificial Intelligence and big data empowered brands to judge the cognitive behavior of customers.
But blockchain shifts power to consumers by assuring them the exchange of data is secured and the system runs without the help of any kind of intermediaries.
Avoid the Risk of Getting Caught by Cyber-threats
Relying on a centralized system makes your data vulnerable to data breaches and cyber threats. The conventional centralized system entails third-party involvement, personal data is shared across the platforms, making your data prone to risks. Blockchain allows the data to be verified and securely shared among several platforms in exchange for value.
Buy Cheaper Adds without the Middlemen
In order to ensure your business is successful, the main thing on the hit-list is to run the ads on the sites which actually targets your audience and are bundled with quality traffic. What does that mean? Paying for the ads can cause a nagging pain of high-end costs because you have to pay a significant amount-share to Google.
With blockchain, you are facilitated by decluttering third parties like Google (Middlemen). With blockchain, the websites willing to offer space for ads can work collaboratively with the companies that acquire branding.
Selling through the marketplace that is smeared with blockchain technology and proper audit of the product is carried out, the consumer trust is built. Let’s roll in with a straightforward example, if a farmer sells an organic product in the market through effective supply chain management, consumers would develop confidence in the products.
Accept Alternate Payments
One main thing that simply can’t be ignored is that the blockchain accepts alternate payments; you might be unfamiliar with this before. Blockchain makes every payment seamless and secure by providing chargeback solutions.There is an option to carry out the payments with cryptocurrency while avoiding the forged cheques and bad credits
Goodbye, Freakishly Confusing Ad-spend
Penny-pinching in the market is a new thing revolving around the role of blockchain in marketing; the trustworthy examples are Unilever and IBM. Both the companies are on their way to dejunk the freakishly confusing arena of online ad spend. Big companies are stepping forward and investing in blockchain, as they have foreseen the drastic improvements of blockchain in the marketing industry. Blockchain creates a high-trusted and verified chain from the ad dollar to the end-user. Previously, 85 cents approx. every dollar of advertising went to publishers due to the intermediaries involved. The number has dropped to just 40 cents today, and Unilever didn’t indulge in overspending on the marketing and saved its ten million dollars. On the flip side, blockchain is disrupting the digital marketing industry unprecedentedly, potentially wiping out business models built around it.
Transparency & Trust
Everything on the blockchain is transparent and unverified changes can’t easily be approved, making it decentralized. This feature enables the consumers to put their trust in this drastically growing technology.
It is not just about the new use cases that have the real impact of blockchain technology in digital marketing. The use cases of blockchain would impact the entire systems and the ad metrics of a digital marketplace. In the times when digital marketing is unstoppable and growing, blockchain is changing digital marketing in disruptive, perhaps even the irreversible ways