It is a widely known fact that Blockchain is completely revolutionizing the banking and finance industries. It is now making an impact in all areas of business, including the marketing departments. Blockchain is now being used to achieve key goals in marketing, such as combating fraud and building brand recognition. It addresses a customer’s need for transparency and data protection and is thus gaining popularity as a solution to privacy infringement in various cases.
What is blockchain, and how does it apply to marketing?
Blockchain is best described as a series of digital records, known as blocks that are linked together without the need for third-party verification. Blockchain came into existence in 2008 as the underlying technology supporting the digital currency – Bitcoin. With blockchain, all transactions could be verified and recorded. It is now getting recognized as a solution to multiple problems crippling businesses in the digital environment.
The most important problem that a blockchain marketing agency can solve is by leveraging the technology’s positive attributes that customers are searching for in today’s digital landscape: transparency and data protection.
Marketing and data transparency are taking giant strides forward owing to blockchain. Blockchain technology is rapidly changing the face of many industries. While it’s usually discussed in the financial and banking realm, there are many implications of blockchain outside of traditional markets.
Blockchain technology is making headway in the telecommunications, media, and technology sector. Of this group, 40% said they are in the awareness phase or becoming educated on the technology; 39% said they are experimenting with blockchain or creating proofs of concept; 12% are already deploying blockchain technology and using it in their business.
Since blockchain has been synonymous with finance, many wonder how marketers would even use this technology. Is there a place for blockchain in marketing? As it turns out, yes, there is. A blockchain marketing company has the ability to change how marketers collect and use data, how they address customers and how they manage ads.
Here’s a look at the impact blockchain will have on digital marketing:
Tracking keywords is one of the major challenges faced by marketers. Search engine algorithms change quite often and marketers need to continuously change course and upgrade their strategy to stay relevant. Tracking keywords on different devices and trying to decipher a local versus national search is problematic for most marketers. Organic SERP rankings are incredibly complicated to understand, and many marketers have to guess or assume when creating reports.
Blockchain is changing the industry for the better. Blockchain content writers and the best ICO marketing companies realized early on the benefits of having real numbers for tracking keywords. A tracker built on blockchain could account for all of the inconsistencies that marketers currently have to account for, when summarizing efforts.
This unique technology can track keyword positions across all devices and in any location. Marketers can then use the information received to create more data-driven, accurate campaigns.
Changes to social media
The best ICO marketing companies are changing the way users think about social media through their devoted efforts and brilliant results. Blockchain is a decentralized network that allows users to share, discover, and connect without the traditional social media surveillance.
A blockchain marketing company rides on the faith that people want more control over the data that they share on social media. Blockchain content writers also rely on good content or viral content that engages more and more people. For marketers, this changes a lot. First and foremost, marketers must assess how relevant these decentralized social networks will become and whether or not their customer base will use them. Second, brands have to offer absolute transparency.
While some marketers fear that they will lose out on data collection, since it’s relatively easy to collect data from the current social network giants, blockchain marketing agencies are simply introducing technology that has the potential to change the way marketers get leads.
Currently, data collection for marketing takes a varied approach. Many marketers collect data from a variety of sources, put it all together and run a campaign based on that. This method is not great, and many campaigns run off of inconsistent or incorrect data.
Since blockchain transactions are decentralized, marketers have to go right to the source for data collection: the consumer. Marketers can pay or incentivize consumers for their data. While this is a higher upfront cost, the ROI from the campaign run off of this data will likely be higher. This way, marketers have accurate data that comes right from their consumers. This method is sure to generate far better leads through the efforts of new age blockchain content writers.
Combating Fraud in the Ad Space
As everyone in the marketing world knows too well, there is frequent click fraud in advertising. Blockchain marketing companies are guaranteeing that the ad impressions and clicks that they are generating are authentic because they’re on the trusted blockchain. A blockchain marketing company wants to solve the problem of the lack of transparency and the high levels of ad fraud. The platform provides end-to-end transparency for all data, which does not exist in the traditional ad space today.
More transparency for consumers
Many blockchain marketing agencies ultimately guarantee more transparency for consumers and better results for their clients. They know where to source data from for their specific campaigns. For marketers, there will be more data to run campaigns. Though marketers may have to pay for incentive data collection, the information will be real and highly usable in campaigns.
The marketing industry is seemingly just beginning to adopt blockchain technology, but the possibilities and implications are endless. Blockchain is enabling a new kind of digital advertising platform through which consumers can ‘own’ their own data, rather than surrender it to publishers including social media giants like Facebook or Instagram.
This means consumers can be directly compensated for their advertising data, and marketers can more accurately leverage this information to create better marketing campaigns and successfully complete sales with the help of funnelled data.
With these points, it is evident that Blockchain is changing the landscape of digital marketing and many big changes are in it for the future. Stay tuned for more updates like this from us.
Related: How Businesses can benefit from Certified Marketing and Blockchain?