Any company that wishes to use the power of the internet to promote and expand its business is familiar with the idea of digital marketing. Digital marketing is essential for making a company accessible to a global audience through websites and social media. New solutions and technologies are being developed as the digital world continues to evolve. Blockchain is one of the examples of digital innovation that is currently rising in the spotlight.
Blockchain Influence On Digital Marketing
Cryptocurrencies like blockchain are usually found in the financial industry, but the underlying technology is becoming increasingly valuable for digital marketing. Blockchain can transform the way marketers collect and use data, communicate with consumers, and handle advertisements. Here is an overview of how blockchain can affect digital marketing.
1. Security Improvement
The digital marketing industry is no exception for any possible cyberattack because the online world is not a natural haven. Many marketers are aware of click fraud that is becoming common in advertising. However, with the integration of blockchain, companies can now use open, immutable transactions, scan consumer profiles to root out fraudulent consumers, and prevent scams at any turn. It also allows digital marketers to use specific consumer data to express permission, avoiding any security concerns. In addition, any third party intercepting data or tampering with how the teams operate on confidential information is also prevented by blockchain.
One company called adChain Registry, a smart contract on the Ethereum blockchain, is attempting to tackle this cybersecurity threat. Since they're on the trustworthy blockchain, ad impressions and clicks are genuine. The organization aspires to address the issues of lack of accountability and high levels of ad fraud. The platform offers end-to-end data transparency, which is currently unavailable in the conventional ad space.
2. Low-Cost Ad Placement
Ad spending is increasing, especially for eCommerce companies seeking to reach a broader audience. The pandemic has prompted every company to go online and resulted in such a crowded setting that every ounce of visibility counts.
However, instead of paying fees to third-party sites like Google to get your advertising published, you can work directly with businesses that offer ad spaces. Avoiding these exorbitant third-party fees and having access to data will help you understand when consumers want to display your ads and which ads perform best. As a result, you will remove unnecessary expenses and significantly reduce ad expenditure while increasing your advertisement ROI.
3. Consumer Data And Privacy
When a user visits a website or downloads an app, they provide some information. Companies build a customer profile based on products purchased, searches made, and other factors using this information. Furthermore, when a customer shares personal information online, there is always the possibility and risk that information might leak and fall into the wrong hands. However, using blockchain technology, you can avoid this. It guarantees that the data belongs only to the customers and that there is no infiltration system. The control returns to the user, who can choose whether to share or not to share their data with other customers and companies.
4. Better Lead Generation
Data collection for ads is currently done in a variety of ways. Many marketers gather data from various sources, combine it, and run a campaign based on it. Unfortunately, this approach is ineffective, and many campaigns rely on inaccurate or unreliable data.
Since blockchain transactions are decentralized, marketers can obtain data directly from the source: the customers. Although there is a higher upfront cost, the return on investment from a campaign based on this data will likely be higher. That is because marketers would have reliable information directly from their customers in this manner. Furthermore, knowing reliable data means better content that you can quickly whip from any design software for beginners.
5. Transparent Transactions
Many times, brands from different industries claim to have clean operating processes, from production to supply chain, only to be found out later in the media that they were lying to the public. Customers' perceptions of a brand's environmental effects, compliance with labor laws, and other social concerns are essential, so digital marketers naturally want to present the brand in the best light possible. With blockchain technology, you will have more transparent transactions that will make you win a more substantial reputation among your audience and future clients.
6. SEO and Keywords
Marketers often face a difficult task in tracking keywords. First, search engine algorithms shift often enough that advertisers must constantly adjust their strategies. Second, keeping track of keywords across devices and determining whether a search is local or national is difficult. Third, organic SERP rankings are challenging to grasp, and many advertisers have to make educated guesses or assumptions while compiling reports.
Marketers could have accurate numbers for monitoring keywords through the help of blockchain. A blockchain-based tracker may account for all of the anomalies that marketers would currently account for when summing up their efforts. Blockchain can help you track keyword positions through all devices and on any platform. You could then use this data to build more precise and data-driven campaigns.
7. Social Media
Users' perceptions of social media are shifting thanks to companies like SocialX. Users can post, discover, and interact without conventional social media surveillance on this open network. Synereo, is another platform that offers users "a new way to pay attention." It monetizes viral content to expect that only the best, most popular content can rise through the ranks.
Social media users now have more influence over their data and are rewarded for excellent or viral content. This setup can have a significant impact on digital marketing. Marketers must first determine how important these decentralized social networks can become and whether their customer base will use them. Although some marketers are concerned that they will lose out on data collection, data from the new social media channels are reasonably simple to obtain. Thus, it will also change the way marketers receive leads.
Final Thoughts
Digital marketing is a constantly changing sector. Technology continues to expand, which gives rise to developments in the way business is done over the internet. However, while it is true that AI and analytics have benefited businesses these days, blockchain might level the playing field by providing a more secure ad placement, more transparent transactions, and better cost-efficient campaigns. Therefore, you can expect that the handful of the ways blockchain is revolutionizing digital marketing will eternally go forward in the coming days.