It seems like ages ago when digital marketing was the main topic of conversation. It permanently transformed the marketing landscape. Today, blockchain is the hottest topic among individuals. The same technology that governs cryptocurrency.
When you hear the word crypto money, you might think of Bitcoin. However, in addition to Bitcoin, hundreds of other digital currencies are available for trading.
If you want to be a crypto trader, choose a reliable platform to buy cryptocurrency. Modern crypto exchanges provide strong security, a plethora of features, thousands of digital coins with pricing trends, etc. They even let you buy crypto with a credit card and convert cryptocurrency (to fiat).
You should be grateful to blockchain for making digital currencies a viable option that can provide you with a lucrative financial opportunity. You should also praise the blockchain for its potential to better the digital marketing environment.
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Three Major Ways Blockchain Improves Digital Marketing
As a digital marketer, you may know how dynamic the marketing sector is. Moreover, it is subject to change due to shifting customer preferences and evolving technology. It is set to undergo a significant change: the integration of blockchain.
Blockchain is already causing quite a stir in the financial sector. It is now about profoundly redefining digital marketing. You might be wondering what the big deal is with blockchain. Please allow me to explain.
The blockchain, in technical language, is an unchangeable digital database of economic activities. It can be configured to store almost anything of value, not just financial exchanges. In simple terms, a blockchain is a public ledger to preserve and distribute data in simple terms. The data might be anything having a monetary or non-monetary value.
Each block stores information, and when it exceeds a specific limit, a new consecutive block forms, resulting in a chain. The word blockchain refers to the chain of blocks storing information. But do you know what’s so distinctive about blockchain?
Once information is added to a blockchain, it cannot be changed. You can’t even duplicate it. Surprisingly, the ledger on your device will continue to update automatically. The best part is that it is virtually hard to hack the network, proving how secure blockchain technology is.
It’s no surprise that other fields, such as marketing, are embracing this incredible technology. Let’s see how such implementation will impact the world of digital marketing.
No Third-Party Involvement
Blockchain empowers you to purchase customer data directly from customers rather than third parties. Typically, consumers visit the publisher’s website, and the ad network collects data from there. Ad networks, after that, sell user data to other marketers and advertising. But this will not be the case anymore with blockchain adoption.
Using blockchain, publishers can make their network to store customer data. They will be able to directly get data from clients via browser history, evading the ad buying process. The benefits of this include a higher CPM, easier parameter tracking such as audience engagement, no ad-buying expenses, the opportunity to build more customized advertising, and the ability to target only the potential audience.
We can already see its use in crypto exchanges, where we can directly purchase cryptocurrency with the help of our wallets. Since we use our wallet address, buying and selling coins do not need any third party.
You’ve tasted the pain of paying for fake ads, haven’t you? Worry no more since blockchain technology broadcasts click-throughs in real-time. You can also rent out ad space and obtain high-quality traffic.
Lastly, you will not only save a lot of money by avoiding ad fraud, but you will also ensure that your analytical data does not mess up. Hence, you will be able to make more informed strategic decisions.
With every node on the blockchain secured, you will be able to differentiate between statistics from paid-for clicks from genuine customers and bot clicks. To receive authentic clicks, adopt the blockchain right away.
Once information is entered into a blockchain, it is irreversible, indestructible, and unchangeable. This trait supports smart contracts. Smart contracts keep track of contract terms and impose obligations on all parties involved. It only initiates a deal when all agreed-upon terms are fulfilled.
For example, if a blogger agrees to endorse your brand through a blog or social media postings but refuses to do so, the smart contract will not transfer the payment to the blogger. For the blogger to receive compensation, he must accomplish what he promised to, which in this case is promoting your brand.
Incorporating blockchain into your digital marketing landscape is a wise decision. You or your company will profit in various ways, from cost savings on phony advertisements to targeting the right audience. Moreover, blockchain is incredibly secure and accessible to the general public. That is, there is complete transparency.
Transparency helps acquire people’s trust and establish a loyal consumer base. Last but not least, smart contracts allow you to make foreign deals, broadening your horizons. So, start thinking about using blockchain technology in your marketing activities.