Creating an Impact in Marketing with Blockchain Technology
Does blockchain disrupts marketing?!
Yes, it is disrupting digital marketing. It is just because it can eliminate digital middleman, increase transparency, and provide consumers control while sharing the information.
Let’s deep dive and take a look at how blockchain disrupts marketing.
Elimination of digital middleman
As the blockchain improves transparency, it enables brand building. It creates trust within the customer base as the business can showcase how they are using customer data in the process.
Blockchain is the ‘real middleman’ now between the users and the advertisers. The website owners need not go through the Google Display Network to find advertisers. As the users are validated and verified, the advertisers would know that they are paying for genuine clicks alone. The site owners trust the amount they are being paid for.
There is no more interference of middlemen like Google or Facebook to share profits with them. This increases the profit margin for the advertisers. The media gets decentralized and there is no need to pay for service while establishing a relationship between the advertisers and the consumers.
Daniel Newman, CEO of Broadsuite Media Group says that advertisers used to gain customers’ information from disparate sources. But, now, advertisers can build a customer profile directly by gaining the information from the customer directly in one swoop using blockchain.
Introduce loyalty programs
Customers are generally rewarded for loyalty to a brand. However, in online programs, the rewards are not realized immediately. Whether it is a gift or redeem points, they expire unused causing an ineffective loyalty program. It is an absolute failure in many cases too.
Blockchain technology acts as a rescuer here. The merchants’ payout rewards as cryptocurrency token on decentralized channels. The analytical engine guides the advertising campaigns with a loyalty incentive system based on ‘real’ value. It empowers customers to build their digital wallets and use coupons, cards, points and other gifts on a single platform.
Going forward, blockchain marketing strategies enable marketers to assess influencer’s credibility, validate followers, analyse influencer campaigns, and identify conversion rates. The company ‘Patron’ is working on this capability and aims to enable brands to identify, verify, trace, and record social information by deploying blockchain engineers.
Blockchain may improve detecting frauds. It ensures online advertisement ads and makes the campaign more transparent. Blockchain predicts frauds and helps us evaluate how to stop bots and fraudsters staling as dollars from the brands. It also facilitates marketers to verify the ads and help to know who, how, and where the ads are running. It will transform the delivery and reporting process.
Paying for user-generated content
User-generated content inspires your audience to create posts, showcase customer’s voice and builds trust for your brand. Most of the customers rely on user-generated content than any other content. Using blockchain technology, proper accreditation and compensation can be given to people’s work.
There is plenty of rooms for brands to use blockchain technology. The marketing operations can be reimagined all together as you can use the relevant data for marketing operations. Exploring the technology to its fullest expands services and engagement. Even though you are not on the leading edge, you can always look forward to what this technology holds for you. Adobe Photoshop Crack
Blockchain engineers can use relevant data for marketing operations. It may be the investment cost, building social campaigns, use of smart contracts, protection of personal data, accountability for publishers, paying for users’ content, interactions with customers, channels used for interaction, collecting data from customers, storing and leveraging the data, transparency of supply chains, and the list goes on.
Gain trust and loyalty by implementing blockchain-powered marketing.