Innovation is the Key Communication Channel for Blockchain & Tech
Advertising is obscure. A recent study into the state of programmatic advertising revealed that 79% of advertisers surveyed¹ expressed worries about transparency, with over a third regarding the lack of visibility on third parties as one of their key concerns.
Mistrust is further reflected in cut downs on ad budgets from big companies and that really doesn’t do anybody any favours.
Luckily, we are living in times of great change. Blockchain technology is slowly cleaning up processes and dynamics in different fields, it’s about time it starts picking up in marketing.
Data-driven marketing is the secret lab where all the magic of branding and storytelling is carefully mended. With blockchain technology entering this field, there is a number of troubled dead-ends it could help solve.
Firstly, by validating an ad’s journey throughout the visits of a consumer online, blockchain can make data-driven marketing more transparent by making sure an actual person has engaged with the ad, as the media contract requires.
The big bubble of how Facebook ads used to work is a very telling example in this respect. The user only had to refresh its News Feed once and Facebook loaded up to 8 scrolls down a mobile device. Even if the user never made it to the bottom of the scroll counts, it still counted your sponsored content or ad as ‘reached’ by that end consumer. The numbers were infamously inflated.
Blockchain can ensure that a real follower or consumer has engaged with the ad by tracking down the journey with precision. No more loose ends, no more pumped numbers. It helps both sides. Consumers get more relevant feeds to their needs, advertisers have more precision into what and where the consumers consume in the digital sphere.
Another Important Point of View Turns Heads
And what about the consumers’ side of the story? With companies directing so much information and promotions their way every day of every week, it’s safe to assume they mostly have no consideration for real customer’s preferences and wants, even if the data-driven economy is at its peak. Strategies seem to resemble a hand’s full seed spreading on the field: out of the many, one or two will actually find its way to organic growth. Regressive much? And all of this in the intensive data economy of today.
There are studies that have reached the same common sense conclusion: consumers do get annoyed. Whereas display advertising has an enduring impact on transitioning consumers further down in the funnel path, repeated display-advertising exposures beyond a frequency threshold can have an adverse effect by increasing the probability that consumers will be annoyed.²
Anywhere from four to six ad exposures is optimal, cross-platform continuity included. A smart contract on blockchain can fix this by providing a level of tracking and transparency that is currently unreachable to brands.
The Ingredient X
Adding to the common sense, here are some KPIs marketers disregard, although practice³ proves different:
❤️
🔥
🙌
😂😂
“LOL”
“OMG”
“WOW”
“LMAO”
“So cool”
“Brilliant”
“Amazing”
“Awesome”
“This is genius”
“Instant meme”
“Ha ha ha ha ha ha”
“Have you seen this?”
“Can’t believe they did this”
HashMarking the New Marketing Paradigm
Grounded is forward with a reality check. With quality data to provide quality insights, more blockchain & tech businesses can gain the advantages they need to innovate, grow and compete. And with communities and experts within reach, HashMark can tap on real data to provide you with customised solutions.
At HashMark, we rely on the creative strengths and experience of a decentralized team by innovating through content and channels to optimize the client’s budget and drive results. With all our efforts into place, your business grows organically on the specific needs of an altered tomorrow: HashMark Research, HashMark Lab and HashMark Communication Services organize the solutions into a plan.
[1] Harvard Business Review (April 2019), https://hbr.org/2018/05/what-blockchain-could-mean-for-marketing
[2] AIS eLibrary Data Science (April 2019), https://aisel.aisnet.org/icis2017/DataScience/Presentations/21/
[3] LinkedIn Creative (April 2019), https://www.linkedin.com/feed/update/urn:li:activity:6515664296955961344/
