Is Blockchain really impacting Digital Marketing?
Blockchain has come to enable us to distribute and store digital information with no risk of data breaches. A revolution for the digital world that promises to make cyberspace a much safer place than it has been until now. Thanks to blockchain, a transaction between two parties can be done with no need of a third party verification.
Despite how recent blockchain technology is, we have been able to observe the rapid impact it is having on the development of a large number of industries, and digital marketing is not an exception.
Through this article we want to bring you closer to blockchain marketing, what it is and how it can benefit your business. In addition to knowing the ways in which blockchain revolutionises the digital marketing landscape and its benefits for digital marketing practices. - Are you ready to surf the blockchain wave?
Discover blockchain marketing
If there is an industry that is evolving rapidly, it is digital marketing. Blockchain technology has arrived to give a new twist to digital marketing practices, encourage transparency and bring to brands new opportunities to innovate with their digital marketing campaigns.
Blockchain marketing aims to integrate the blockchain technology as a marketing tool for businesses to track data movements and ensure its accuracy.
By empowering tracking and safety, the blockchain technology allows us to respond quicker when something goes wrong, reach accurate leads and provide customers with a better online experience.
When it comes to data transparency and safety, the digital marketing industry has found in blockchain its best partner in crime.
What can blockchain be used for in digital marketing?
At this point there is no doubt that blockchain technology has arrived to revolutionise the digital marketing industry, among others. We are sure that the future holds some other advantages that will figure out as long as blockchain technology evolves but, so far we can use blockchain to:
- Reduce Advertising Fraud: every digital marketer is certainly aware of common fraud in advertising done for faster and more frequent clicks. But now thanks to blockchain, it is possible to create an unalterable record of transactions with end-to-end encryption that prevents any possibility of unauthorised activities and fraud.
- Preserve Data Integrity and privacy: now users can control their data by blockchain transactions. Through private and public keys, you will own the data and prevent third parties from obtaining and misuse it. By storing data that you own on the blockchain, you will be able to control when and how a third party can access it.
Moreover, when it comes sto integrity, the stored data on blockchain cannot be modified or deleted, which is a crucial data integrity requirement.
- Ads’s impressions and clicks verification: everything indicates that blockchain technology will have a great impact on the online advertising business since it is the ideal solution to the problems advertising currently faces. A blockchain-based advertising system will employ smart contracts to track ads and pay for only verified impressions as stipulated in the contract.
Moreover, thanks to the blockchain technology and by putting advertising data on-chain, it will be possible to understand how well your ads are performing in real-time and decrease fraud.
Benefits of integrating blockchain technology in digital marketing practices
Now that we understand how blockchain technology can help digital marketing nowadays, let’s talk about the benefits of integrating blockchain technology in digital marketing practices.
- Boost transparency: The blockchain technology has arrived to make digital marketing more transparent for both brands and consumers.
First of all, it can help provide an unprecedented level of transparency on every transaction, whether they be in crypto or fiat currency. This could be significantly positive for encouraging the trust in your brand.
Besides empowering cryptocurrency transactions, blockchain allows consumers to access the brand’s operations and supply chain, which will help businesses capitalise on new commercial trends such as eco-friendliness and sustainability and nurture trustful relationships between consumers and brands.
- Safer online payments: The digital landscape has to deal with some trust issues that blockchain can be helped with. Some of the most frequent concerns from online buyers are for example, how to know that you will get what you paid for? Or who will help me if my purchase is never delivered?
Blockchain can make online payments much more secure by adding a layer of transparency and trust.
Blockchain works through a transparent network of computers, which allows users to check every transaction on its public ledger as it happens. Nobody would be able to add or delete any transactions without authorisation from other members of the network.
This means that blockchain addresses one of the most frequent trust issues with online payments: consumers and merchants will no longer fear that one party will abandon their end of an agreement, simply because the terms are visible to everyone involved in the transaction process.
- Support data integrity and privacy: When it comes to data privacy, businesses are facing the biggest challenges for their digital marketing purposes. Consumers are more and more interested in knowing how brands use their personal information.
In digital marketing, it is crucial for companies to reach a high level of data consistency and accuracy.
Blockchain is your ally to maintain data integrity by ensuring that your data is complete, that it is accurate and consistent, and make sure valuable data will not be lost by anyone.
- Empower your conversion: Blockchain makes it possible for consumers to control who can access their data and to what extent. Moreover, some blockchain platforms incentivise users to provide personal information in exchange for crypto tokens. Such a thing, far from being a challenge for marketers, would allow us to get data from consumers who are interested in your product/brand indeed. In this way, companies have a golden opportunity to turn their consumers into loyal customers.
- Leave your keyword inconsistency in the past: Keyword tracking can turn into a real challenge for digital marketers, but thanks to blockchain technology now we can have real numbers for tracking keywords. We can now track keyword positions more effectively regardless of the location and device and create more accurate campaigns which become more data-driven.
- Smash your advertisement effectiveness: blockchain will allow you to access and mine efficiently a large quantity of data that you can transform into relevant information to get to know your customers better and target the right ones. By using your data wisely and targeting the right customers, you would be able to significantly boost your click-through rates (CTRs) and empower your ads' impact.
- Take your partnerships to the next level with smart contracts: a smart contract is an automated agreement between two or more parties on the blockchain network. Now we can use them for different digital marketing purposes such as ad impressions, web development or campaign management; as well as specify terms and conditions between marketers and clients.
Moreover, consumers would also find benefits from smart contracts, since they will be able to make sure that brands are respectfully and responsibly using their data by accessing them through webs or mobile applications. The transparency that smart contracts provide is unprecedented—It opens new doors for our digital lives and improves the way that we conduct business and interact with others online.
To sum up
- Blockchain technology improves brands performance and customer experience.
- You can boost the transparency and trust of your brand.
- Blockchain ensures data integrity and accuracy.
- It allows us to do safer online transactions.
- Blockchain can help us battle Ads fraud.
- Thanks to blockchain technology you can obtain more valuable data and improve your campaign performance.