Let’s welcome the technology that is set to disrupt the industry dealing with data transactions. Yes, we are talking about Blockchain! In this digital world, the adoption of blockchain technology can make a lot of difference to your business. Trade securities and online purchases are at alarming cybercrime which is taking place now and then. With the help of effective blockchain technology, you can actually provide a secure system to your business.
The major reason for the popularity of blockchain is to solve the problem of cybersecurity. Wondering how? Well, it helps to introduce the new forms of digital interactions and restructuring the fundamental business transactions. If you are looking forward to efficiency, transparency, and security, then you can completely rely on blockchain technology.
To begin with, let’s now what exactly is blockchain? The technology allows making direct online payments without the need of financial counterparties. People can securely record the data in the digital ledger. The recorded data by the people is both centralized and verifiable. The use of blockchain technology is prevalent more in the banking and finance sector, but it can also provide effective results in the marketing and advertising industries. Blockchain can help to maintain the data with brand-safety, utmost transparency, and accountability. Want to know more details on how blockchain technology is useful in the field of marketing and advertising.
Let’s dig deep in details to know about the 5 ways Blockchain can help in transforming advertising and marketing.
Demolition of the concept of the middlemen
Now, say goodbye to middlemen! Yes, you read it right! The blockchain technology completely eliminates the need for middlemen and allow the users and intermediaries to interact freely with each other. Not just that, the blockchain technology allow the companies to pay their targeted audience directly to view their ads. Both the contractors and the clients get a sense of complete security as the decentralized system of blockchain facilitates the easy flow of money between the parties.
Apart from the advertisers and the companies selling their products get benefited but the content creators and other artists also get enormous benefits with the use of blockchain technology. The technology allows you to connect to your potential audience directly, thereby, ensuring smart spending.
Verification and online ad buying
Well, that’s true that the accuracy of stats in online advertising is questionable. You never know whether the true customers are reading your ad or the clicks are coming from the hired or bots clients. But, that’s not the case with blockchain. The technology boosts programmatic buying which allow the advertising companies to easily find the people viewing your ads are the real ones or not. This helps the businesses know about genuine clicks and accordingly build their stats. The Blockchain technology is encrypted and transparent which ensures the company gets what they are paying for.
Another benefit of incorporating blockchain technology in advertising is ad verification. The blockchain helps the marketers to know where exactly their ads have been placed and how they are responding. For marketers, it is a cost-effective alternative to decentralizing the ad auditing. It simply takes the ad deliveries from the ad servers and then releases them to mining machines. With blockchain, you can easily blacklist and identify the frauds in real time.
Regulatory compliance and data protection
Most marketers today use blockchain to store large volumes of customer data securely. The blockchain technology is decentralized and encrypted, thus makes up for a perfect alternative to the traditional storage methods.
Not just that, the technology also ensures the highest levels of privacy protection which focus on the identity and protection of that identity with regard to the data associated with it. You can also manage GDPR with the help of blockchain. GDPR usually requires marketers to take consent from their customers and manage things. The blockchain model also helps the customer to permit the company to access a level of data for limited use and limited time.
Influencer marketing and the targeting audiences in a better way
The blockchain technology can help the marketers and advertisers to build the customer profile directly in one go by using the information directly from the customers. This can help to build a database of the target audience in an efficient manner. The technology further allows the companies to smartly advertise the product or services the potential customers who are likely to buy the product.
Well, there has been tremendous growth in the field of digital media. Today, influencer marketing plays a vital role in creating awareness among brands. The blockchain technology has helped in creating brand awareness. People get easily influenced by the influencers, they follow them and love doing things they are doing. The technology helps in tracking the engagement criteria of an influencer contract, thereby ensuring the high level of transparency and accuracy.
Unique digital identity across digital channels
Digital identity is one of the most important phenomena to survive in this cutting-edge competition. With the technology, allow you to incorporate trust and security in the digital identity applications. The digital identities based on blockchain technology take into account the storage of individual data. Not just that, it also offers vital links which are important for transfers of digital assets. Want to know more about the blockchain based on digital identity? Read on to know details.
- The digital identities based on the augment credit score for the property buyers. Now, this further allows the smart contractors with full property details, and also let you know the digital identity of the buyer.
- KYC or reputation management system also uses digital identification of the data to know details about the customers and get more quantitative and qualitative information.
- Digital identity is also used in the food chain with blockchain information and barcode. The information is linked to it and helps in verifying the trajectory of the product.
So, if you are looking forward to incorporating blockchain technology to your business, then do proper research and then act on it.
One of the top reasons for incorporating blockchain technology is that it offers full transparency of the transactions. The main aim of this technology is to provide users with a secure interface, thereby safeguarding their privacy.
It facilitates the tamper-proof transparency on every product which moves through the supply chain. The technology also allows the users to keep track of every movement of the product. Doing this will further enhance the customer experience by bringing the utmost transparency.
For example – if the customer wants to buy an expensive luxury brand product, they can easily access the digital ledger and check if it is real or not. The technology gives full control to the users and builds trust. They will instantly get the confidence to buy the products.
Not just that, the technology helps in building the brand and creating trust among the users. What else do the advertisers crave for? They want to ensure customer satisfaction by providing full support to them.
Well, spending the cash on a counterfeit product can be worst and frustrating for a customer. But, with the help of technology, you can easily aid each step of the supply chain. Thus improving the merchant’s accountability. Basically, it improves the users purchasing experience but providing them full transparency.
What is the future of blockchain technology?
Blockchain technology is new to many marketers and advertisers. Many must be wondering, how it will affect the future of digital marketing? The sole aim of marketers today is to provide customers with the excellent user experience. And, technology can help you provide this experience flawlessly. Not just that, it can help the advertisers and marketers to increase and adapt the ROI significantly.
Well, there is no doubt that blockchain is a robust and powerful technology. The concept of blockchain is here to stay and will surely transform the marketing landscape with its unexpected technologies. There are endless possibilities for innovative marketers in terms of transparency, security, performance, and efficiency. There is nothing wrong to say that the blockchain technology can remove the piracy problems of digital distribution by ensuring frictionless monetization of digital content.
The technology can do wonders in the field of digital marketing if implemented in the correct way. So, what are you wondering? If you have a brilliant idea, then grab the opportunity to make the most of it!