How Analysts May Help Digital Marketing Department in Blockchain
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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 its possible positive influence on how several industries, like the digital marketing industry, operate.
Unfortunately, the discussion surrounding Blockchain technology revolves around the impact of Blockchain on banking and financial transactions. To turn the conversation toward digital marketing transformation via Blockchain technology, analysts are needed to research, analyze, interpret, and present data supporting the potential ways digital marketing can be transformed with the help of Blockchain technology.
Let’s start by exploring some of how 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 intermediaries like Google and Facebook and can only rely on the analytics provided by these middlemen. As such, they cannot be sure that the stats presented are accurate. Blockchain can change this with its transparency feature, enabling analysts to study the transparent but encrypted chains to see the actual 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 several times. Still, AssignmentGeek is sure that Blockchain technology can reduce these concerns significantly since it places a 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 consumers to control their data can be deduced from the Blockstack network, which uses Blockchain technology to keep consumer data under lock. Blockstack allows users to visit sites and use apps similar to the way people insert their keys into keyholes and take their keys when they’ve opened the doors. In other words, Blockstack ensures that there is no running log of user visits to sites or usage of apps.
The future of Blockchain marketing suggests the possibility of marketers and companies paying for consumers’ interaction with their advertising materials, similar to how websites and blogs offer users eBooks or Cheat sheets to enhance their email list-building campaigns.
Blockchain can eliminate digital marketing intermediaries.
Digital marketing intermediaries 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 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 pay directly to their users without paying extra fees to intermediaries.
Blockchain can help companies build consumer trust
Since everything is usually verified and documented on Blockchain technology, consumers can trust that ads themselves are undeceiving. The assurance that Blockchain protects consumer information is another factor that enhances consumers’ trust in companies and their ads.
Consumers can also use 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 quickly determine the trustworthiness of a company.
Digital Marketers can gain access to complete customer profiles.
Since Blockchain technology will close the doors to the traditional methods 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 it. This way, consumers willingly serve up their correct information, providing accurate data that digital marketers can use to launch targeted marketing campaigns with real potential customer 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 influential people who can act on them.
- They can identify and drive Blockchain marketing success by creating standard and ad-hoc reports.
- They can develop recommendations on how businesses can integrate Blockchain marketing to improve their operations.
Although, Blockchain technology is still relevantly focused on banking and financial transacting, it will be interesting to see the inevitable effects of Blockchain technology development for digital marketing transformation in providing excellent 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 customer conversions and return on investment.
Author Bio: Alexandra Reay has worked as a journalist and editor in one of the finest Melbourne publishing agencies for three years. She is also a professional content writer who prefers to research the following topics – self-improvement, technology innovations, global education development, etc. Feel free to contact her at Google+.