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The first thing that comes to people’s mind when they think about Blockchain technology is its interaction with the banking and financial areas of technology such as cryptocurrencies and Initial coin offerings. Regardless of different people’s beliefs (sometimes skeptical, condemning and praising) about cryptocurrency, very few people can make good arguments against Blockchain technology and the possible positive influence it can have on the way several industries like the digital marketing industry operate.
Unfortunately, the discussion that surrounds Blockchain technology revolves all around the impact of Blockchain on banking and financial transactions. In order to turn the conversation towards digital marketing transformation via Blockchain technology, analysts are needed to research, analyze, interpret, and present data supporting the potential ways in which digital marketing can be transformed with the help of Blockchain technology.
Let’s start by exploring some of the ways in which digital marketing can be transformed with the help of Blockchain technology:
Blockchain will transform the purchase of ads for digital marketing
One of Blockchain technology’s best features is its transparency. Most times when digital marketers put up ads, they put them through middlemen like Google and Facebook and they can only rely on the analytics provided by these middlemen. As such, they cannot really be sure that the stats presented to them are completely true. Blockchain can change this with its transparency feature which will enable analysts to be able to study the transparent but encrypted chains to see the true results of ads as customers interact with them.
Blockchain will reduce the privacy concerns of the digital age
Many significant privacy concerns have been shared by consumers and companies alike a number of times, but AssignmentGeek is sure that Blockchain technology can reduce these concerns significantly since it places a sort of social responsibility on advertisers to give users and consumers control of their personal information and purchase data.
An example of the significant control Blockchain gives consumer to control their personal data can be deduced from the Blockstack network which uses Blockchain technology to keep consumer data under locks. Blockstack allows users to visit sites and use apps similar to the way people insert their personal keys into keyholes and take their keys when they’ve opened the doors. In other words, Blockstack ensures that there is no running log kept of user visit to sites or usage of apps.
Apart from this, the future of Blockchain marketing suggests the possibility of marketers and companies paying for consumer’s interaction with their advertising materials similar to the way websites and blogs offer users eBooks or Cheat sheets to enhance their email list building campaigns.
Blockchain can eliminate the digital marketing middlemen
Digital marketing middlemen such as Google and Facebook control the relationship between advertisers and users. And users can’t complain about the cuts taken by Google from the advertising profits gotten from their sites because they rely on Google display network’s vetting process to ensure that they don’t accept advertisers that can in any way compromise or discredit their brand or the security of their website with their ads.
Blockchain technology will ensure that there is a record of validated and verified advertisers on its network from which users can choose advertisers that will benefit their site and its users. This way, advertisers themselves pay directly to their users without having to pay extra fees to middlemen.
Blockchain can help companies build consumer trust
Since everything is usually verified and then documented on the Blockchain technology, consumers can trust that ads themselves are undeceiving. The assurance that Blockchain also protects consumer information is also another factor that enhances consumers’ trust of companies and their ads.
Consumers can also use the Blockchain technology to determine the authenticity of companies, brands, products and services by checking how products are made or the supply-chain of different retailers and their wholesalers. As such, consumers can easily determine the trustworthiness of a company.
Digital Marketers can gain access to full customer profiles
Since Blockchain technology will close the doors to the traditional methods that marketers have used to acquire consumer data. Marketers will have no choice but to either buy consumer information and purchase data or compensate them for these data. This way, consumers willingly serve up their correct information, providing accurate data which digital marketers can use to launch targeted marketing campaigns with real potential customer’s profiles.
How analysts can help the success of blockchain digital marketing
- They can identify the possible Blockchain marketing potentials with current Blockchain and digital marketing trends.
- They can make recommendations for digital marketing transformation from Blockchain technology and present those recommendations and supporting data to important people who can act on them.
- They can identify and drive the Blockchain marketing success with the creation of standard and ad-hoc reports.
- They can develop recommendations on how businesses can integrate Blockchain marketing to improve their business operations.
Although, Blockchain technology is still relevantly focused in banking and financial transacting, it will be interesting to see the inevitable effects of Blockchain technology development for digital marketing transformation in providing great user experience, targeted ads, high consumer data security, fewer popups and marketers getting reliable transparent data on their ads. And although all these changes seem consumer-focused, marketers and advertisers can take advantage of the changes to increase the customer conversions and return on investment.
Author Bio: Alexandra Reay has been working as a journalist and editor in one of the finest Melbourne publishing agencies for 3 years. She is also a professional content writer who prefers to do research on the following topics – self-improvement, technology innovations, global education development etc. Feel free to contact her at Google+.