How Blockchain is Changing Digital Marketing?
Thanks to Blockchain technology, we have seen revolutionary changes in the marketing industry and trends. The traditional ways of marketing and mobilization have been taken over by digital marketing, and the industry is undergoing quite a transformation.
The general perception of digital marketing involves technical aspects such as analytics and artificial intelligence. Due to its features, Blockchain has emerged as the technology that has completely changed the way marketers work, especially in the field of digital marketing. This article would have a closer look at how Blockchain technology and Blockchain experts with innovations are transforming digital marketing.
Ways, Blockchain Affects Digital Marketing
- Consumers Take the Reign: One of Blockchain’s most crucial aspects is that it extends the value of data back to consumers. Before this, many companies were drawing benefits by gathering data from their customers. Before Blockchain arrives in digital marketing, the trend of personalized marketing was utterly invasive. Many companies used to sell the data obtained from such movements and the personal information of consumers. The Blockchain removes a company’s ability to get data without customers’ permission, and instead, it makes the company reimburse them against their personal information for its value. Brave Browser is the perfect example of this, as it prevents the bombardment of ads. It has initiated a new way of interacting with ads as it trades the value of attention online. Many marketers and digital marketing professionals do not like the technology as the Blockchain technology is creating their reliance on consumers to provide them the personal information they utilize.
- Authentication and Transparency: Blockchain has changed the experience of online shopping. Earlier, people had to rely on and hope that what has been marketed to them is only buying that. They did not know whether the products were organic and how and where it was created. With Blockchain, Consumers can quickly know answers to all the questions and much other relevant information. Blockchain platforms are capable of verifying exactly the whole journey of the product from its manufacturing to supply. This is crucial and critical in an era where consumers care more about the quality of the product they are buying and the company’s integrity.
- Improved Ad Campaigns: Digital marketers are high on earning the attention of customers through advertisement. But, not being sure what customers like or do not like, they may end up pushing tons of irrelevant advertisements, which instead of building the customer’s interest in the product instead ends up the will of exploring. It affects consumer’s minds in several ways. Firstly, the ads occupy the whole space on the screen. Secondly, it also lowers down the speed on the site. In addition to these two, the battery and bandwidth consumption on the device also increased with this. All these are enough to annoy customers, and Blockchain can help marketers in avoiding these issues. The companies create new apps powered by Blockchain technology to resolve these issues in marketing. This will surely provide a clear path to improve the interaction between companies, customers, and publishers. The Blockchain is revolutionizing the ad campaigns effectively where following simple steps, the digital marketing field would be changed.
How Blockchain is Changing Digital Marketing: These steps are
- Purchasing an ad campaign by an advertiser;
- Enable users to pick and see the categories of the advertisement they want to see. Also, they would earn some reward on watching an ad every time;
- Publishers would also get some rewards in the form of money or tokens, which would be slightly higher than what the consumer is getting.
- Eliminating the Middlemen: In digital marketing, a lot of business depends on Google for advertisement. Google acts as an intermediary and needs to be paid some percentage of the money you earn from running each ad campaign. The Blockchain eliminates the need for intermediaries and adds more value to a brand’s advertisement and promotion campaigns. Because of Blockchain, a digital marketer does not require to approach a website for placing an ad campaign online with social media platforms or Google. With Blockchain, the whole process is automated, and everything takes place automatically once the contract is signed. This way, it saves a considerable amount of money that usually goes to intermediaries for running an ad campaign.
- Enhanced Security: With technology becoming an integral part of our lives so rapidly, businesses have to focus on security more than ever. Companies that want to retain the customers’ trust and loyalty always prioritize and emphasize web security and protect customer information. With the implementation of Blockchain technology, the security of websites and customer information is improved. The verifications needed to add or edit blocks in this system can prevent criminal invasions and bots from stealing precious information.
- Smarter Ways of Payment: Blockchain allows companies to set up more than one payment method within the app or web platform. This also makes online shopping easier for customers as they get the ease of making payments. Also, you can use Cryptocurrencies to receive and make payments in a Blockchain-powered solution. As an online business owner, you are required to recognize this and at least make yourself ready to adapt when these types of payments gain more traction at the mass consumer level.
Blockchain usually gets associated with the development of Cryptocurrencies and processing Crypto payments. But, the technology is capable of much more than this. Its applications and real-life use-cases can revolutionize the world of digital marketing in a never-before manner. Blockchain technology allows marketers to eliminate intermediaries’ roles from the process while buying or selling ads and promotional campaigns.
Also, it enable customers to gain enhanced control over which companies can send them information or ads. The Blockchain is taking over the power in technology, which opens up the scope of innovations that would leverage more benefits for both businesses and customers. Companies emphasize Blockchain training for their employees for the inculcation of use in their business processes.
For exploring more on Blockchain technology’s scope and gaining expertise in the skills related to Blockchain, Blockchain Council and other organizations are providing several courses online and working eminently in the development of the technology.