Blockchain has been here for a while and has exhibited an impactful performance across almost all industries and is still taking huge strides towards disruption. While businesses are undergoing a digital upheaval, blockchain’s appearance on digital marketing forefront is something inevitable.
There are some reasons why blockchain, when implemented in digital marketing, can do a commendable job. One of the reasons is its capability to make decentralized communication possible amongst people, while all the information pertaining to the parties is recorded and verified.
Now without further ado, let’s take a walk through blockchain avenue in the digital marketing landscape.
Here are some constructive transformations that blockchain can bring about in digital marketing:
- Eradicate the Digital Marketing Middleman
Digital marketing now operates over the concept of middlemen that governs the settlement between users and advertisers.
Google is a trustworthy source, and one of the many reasons why advertisers choose to show google ads on their websites is the same trust. And the involvement of a company with Google Display Network makes it a credible point of service. Google deals with transaction processing, in order to ensure that the owner of the website has his fair share of pay for website clicks.
So google here becomes the middleman, who will take the cut from the profits. Now with blockchain, the owner of the website won’t require google’s verification process as each user will be verified and authentic. It will usher reduced expenses and increased profit margin.
- Building Trust with transparency
One of the major crises that firms of scale face are that of consumer trust. People are cynical over everything, they receive as a service or good, with regards to factory conditions, hygiene, etc.
One way to overcome this barrier is to make all operations transparent. This can be accomplished by blockchain marketing as it will lead manufacturers, retailers, and other trading entities to maintain transparency and quality of service.
Any customer can find out the hidden procedures of the retail supply chain and deduce how exactly the product had been manufactured as it will be all out there. This will build trust.
- Enablement of Public Accountability
The social responsibility in businesses is another arm of blockchain marketing. The clarity and documentation of the blockchain technology can be implemented to build digitized contracts that people will see and will be able to make companies accountable for all their deeds.
- Control over personal information
The future lies in truth as a means of trading. Consumer identity concerns are another aspect of advertising. Right now, numerous services offer the user complete custody of their individuality and history of the transaction, like uPort, Keybase, and MetaMask.
With blockchain, Marketers will have to ask for the consumer permission to get access to their contact information; they can even charge for this information. It is possible that the future will have marketers paying consumers to see their ads.
CMO of ConsenSys, Amanda Gutterman said in an interview, that when a brand addresses a user to agree to receive its sales newsletter, the user can ask for a price in return for that information.
- Benefits for Branding
There’s a benefit in having a payment method that is Bitcoin-friendly or is employing blockchain to normalize digital transactions of companies. You’ll have a superiority being viewed as a far-fetched firm.
Every firm that adopts emerging technology is deemed to be ‘innovative and can invent a number of different strategies for PR marketing.
For business owners who are tech-savvy and always ahead in taking up challenges, there is a possibility with blockchain that knows no bounds. While this only the picture we reckon, there will be many more advances while we’re at it with our digital endeavors.
Firms are already siding with blockchain technology to boost transparency and decrease friction, giving an open end for marketers to leverage these tools in taking their marketing to another level.
Blockchain marketing ninja is the leading and the vanguard of digital marketing with blockchain and is bullish to undertake every segment that will aid the process. Get in touch with them to know how you can revolutionize your business marketing over the Internet with blockchain.