New times, new technologies, new perspectives…
Only in the 90s, we witnessed how the Internet changed traditional marketing, now we can observe how Blockchain do the same thing with the digital world. NinjaPromo decided to look deeper at a question.
How Blockchain can change everything?
The most important thing about the blockchain is that it will completely change the approach to doing business. This is an innovative way to interact with clients, first of all.
This is because the blockchain is a common, reliable and public system: “you can watch but you can’t touch”
The blockchain has no central government. Thanks to this element of personal relationships, buyers can control their data and see how they are used and shared.
How does blockchain affect marketers?
The development of TV and web advertising has led to the emergence of a huge amount of spam and bots, so new companies were set up to solve these problems. Greater transparency strengthens trust between brands and customers. Thanks to Blockchain, the entire advertising ecosystem is evolving.
For example, customer confidence increased after Walmart and IBM began working together. As a result, the hypermarket’s supply chain has become more transparent. Thanks to the blockchain, customers were able to track the origin of the products.
Here are some more examples of how marketers can use a blockchain:
- Verify the delivery of advertising: make sure that the real person watched the advertisement within the prescribed time.
- Verify the involvement or effectiveness of advertising.
- Prevent the same ad from showing to the user again, set the optimal frequency of impressions.
- Pay to publishers, tech companies, agencies responsible for creating, delivering and advertising effectiveness.
- Pay clients for using their data, such as behavior or preferences.
- Track interaction with any ad placed, as well as its effectiveness.
- Reward users for providing explicit data, such as personal information, interests, and shopping planning.
- Show to the consumer (if necessary) how specific data was used by the advertiser.
- Ensure transparency in the use of data in the aggregate.
- Pay consumers for interaction with content.
- Reward consumers for creating custom content for an advertising campaign.
- Make sure that opinion leaders really have an influence on subscribers, and in their compliance with the criteria set by the marketer.
- Make sure that your subscribers and followers of your partners are real people, not bots.
- Ensure that any advertising and non-advertising content has been approved by the relevant parties prior to launch.
- To vote, for example, to determine the winners of the competition, where each person is guaranteed to get one vote, and each participant will meet certain criteria.
- Provide marketers with the ability to create ICOs for new products or services. Interact with investors.
- Ensure that only agency employees have access to specific customer data and have proper rights.
- Create new transparent loyalty programs for consumers.
- Check and authenticate every contract.
- Create insurance policies for transactions.
- Organize a digital asset store as an alternative to cloud hosting.
- Acquire rights to use content (music, video, photos) in advertising campaigns from their creators.
- Check information about candidates for recruitment.
- Make the transition from measuring time spent at work to measuring performance and efficiency. The usual timesheets can be replaced or changed.
- Confirm sending e-mail and track messaging between marketers and their target audience.
- Use security as a commodity asset, because the blockchain minimizes fraud and spam.
Blockchain can help promote and strengthen loyalty
According to Forbes, blockchain may increase the demand for advertising. Companies will better understand whether their TA is viewing their ads, avoiding unnecessary costs.
An excellent example of this approach is AdChain, a company that uses a native token to create a secure space. It offers campaign auditing and secure tracking of impressions, so you can spend your budget on advertising as efficiently as possible.
The Blockchain is able to “clean up” our industry, and this applies not only to advertising. The new technology will affect all forms of interaction with clients.
Today, it is particularly difficult for marketers to attract attention. Blockchain can solve this problem: now companies can offer cryptocurrency for it.
This approach will completely change loyalty programs.
Chanticleer Holdings Inc. hit all the headlines after its brands (American Burger Co. and Little Big Burger) launched a loyalty program based on cryptocurrency.
Within its framework on the blockchain platform, MobivityMind, users can save up cryptocurrency and use it to pay for meals. And since this system does not belong to the brand, its transparency is beyond any doubt.
Another example: during the fashion week in Shanghai, the Babyghost brand collaborated with the blockchain platform VeChain, offering customers the opportunity to verify a collection of bags.
This method allows you to not only authenticate but also to learn more about the brand and product.
Can Blockchain Harm Marketers?
Blockchain can harm marketers only if they refuse to study and master it. Companies must define their vision of this new technology and its role in their business. And then do not hesitate to bring ideas to life.
This is just the beginning. Remember, in the early 90s, no one dreamed of search engines, social networks, and smartphones. Today the blockchain promises us much more as the possibilities of the blockchain and cryptocurrency are almost endless.
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