Most of the people think blockchain is only about currency, well that’s not entirely true. Below we will talk about 6 ways blockchain can improve marketing and advertising.
Blockchain is usually associated with cryptocurrency ( bitcoin, ethereum, tether), but it has much more applications. The fact that you can verify both sides in a transaction making a permanent public record of the exchange impacts all areas of business.
Blockchain is about to disrupt a lot of the ways businesses do digital marketing and advertising. The good news(for some) is that these changes will equalize the playing field and allow smaller companies having the same access to consumers as larger ones.
Here are six ways blockchain will improve digital marketing and advertising:
COMPANIES CAN GET HIGHER QUALITY CONSUMER INFORMATION
People want to control their personal information, they are tired of singing up with company A and start getting ads from other companies out of their interest. Blockchain will give consumers the chance to charge for their contact information and ensure their data will be received only from the companies they’re interested in. That may sound bad for business, but it’s not. Instead of wasting money trying to collect data from uninterested consumers, the businesses will target the right people, accurate information from those are actually interested about your company.
YOU CAN BUY ADS WITHOUT THE MIDDLEMEN
As a company you want to be sure that the ads you’re buying are on high-level websites that are actually targeted to the audience you’re interested in. This means paying a significant fee to a company like Google who has the reputation that both companies and websites are looking for. With blockchain you can skip the ad networks entirely. User verification will be done automatically so there will be no need for third party like Google to create trust, companies placing ads and websites with space available can work together seamlessly.
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IMPROVE SECURITY
For anyone buying and selling online, data security is a huge issue. There are frequent breaches that make the news and everyone wonders if their financial or identity information has been compromised. Every transaction is publicly visible and verified when blockchain is used, but the people involved remain anonymous. As a result you will have better security for your transactions and everyone involved will stay anonymous.
AVOID THE FAKE FACTOR
Seems (to the common people) like almost everything online either is fake or potentially could be. Fake likes, fake followers even fake products try to scam people out of their money. It’s the main reason why consumers have a hard time trusting advertisements and why companies have a hard time getting a return on investment on marketing.
With blockchain you now know whether the money you spend on ads goes to the audience you are targeting. Your marketing will be more effective and customers will start to trust your advertisement.
BLOCKCHAIN WILL ALLOW YOU TO ACCEPT ALTERNATIVE WAYS OF PAYMENT
While accepting bitcoin and other cryptocurrencies aren’t mainstream yet, at some point it could become. Blockchain makes this type of payment transparent. Retailers won’t have to worry about forged checks, fake-bad credit cards or other chargeback issues. With more secure payments a business could save serious amounts of money each year on banking fees related to chargebacks and fraud.
IT WILL BE EASIER FOR MIDDLE AND SMALL COMPANIES TO BUILD TRUST
It can be hard to stand out as a small business, especially when there are established players in your industry. Many consumers are understandably wary of business they haven’t heard before and hawking poor quality products is an epidemic online.
With blockchain reputable businesses will be able to build trust quickly no matter how small they are. They will be able to prove where their products are coming from and show consumers every step of the supply chain. This will educate costumers about what yoy are providing and they will be much more willing to buy from you over other competitors.
Blockchain is unquestionably holding a sit in the future of business and marketing. It will help smaller businesses compete with larger companies, it reduces costs, increases transparency and trust with consumers. The consumers will be specifically targeted with no advertisement wasted and of course no wasted money.