BLOCKCHAIN TECHNOLOGY FOR SHAPING THE FUTURE OF THE DIGITAL MARKETING

by Meenu Makan Creative Director

When we think about blockchain, many people possibly consider fund, crypto-currencies, and digital ledgers. It’s logical. In the end, blockchain is the technology behind Bitcoin–money that has its kind of economic interruption. However, people do not see that blockchain has massive potential to interrupt and resolve issues in different industries too. The most promising places are advertising and marketing sector.

The statement has been given that Blockchain is to “value” what the Internet is to “Information”. Internet was developed to share important information but it has taken on a life of its own from the day it was first developed – playing an important part in a news channel, advertisement field, entertainment world etc. Of course, blockchain could finally entrust into something similar.

In advertisement world, blockchain-based protocols can change how online advertisements are purchased, delivered, calculated, and valued. In reality, it might even result in inaccurate information on the advertisement tracking front-resulting in a better outcome.

The practices that Blockchain can offer to the advertising and marketing area are.

Creating Faith with Advertisement Buys

The matter with internet marketing is the fact that it is almost impractical to understand if stats are exact. As soon as we count clicks on our website or Followers on Instagram, are we counting true clients? Or are we counting bots who artificially pump up advertising stats so that their vendors can charge higher prices? However, blockchain is all about to change all of that. Since the series is encrypted and transparent, businesses can quickly decide whether the people seeing their advertisements are members of the targeted audience–or not-saving countless advertising spend annually.

Elimination of Middlemen

Forrester analyst estimated that publishers eliminating middlemen could increase their CPM from $1 to $5. Blockchain can do even better. It could eventually shake up the industry so much that companies can pay their targeted audience directly to see their ads–bypassing the advertisement buy process altogether. Utilizing “micro-currencies,” companies will compete for the actual audience “attention”–not only imprints. And they’ll have the ability to prove they have gotten that attention ahead of the money is traded. The Brave browser, for instance, uses its “Basic Attention Token” (BAT) allowing advertisers to cover according to “mental effort” from the person viewing the advertisement. That means smarter spending and linking with potential clients.

Improving Transparency

There’s nothing like spending thousands of dollars on a watch or wallet, only to find the product is an imitation. Blockchain’s digital ledger system allows for damage proof transparency of every single product’s shift through the supply chain. The buyers can easily check from where a product has come and who has handled it previously thus proving if it’s legit or faux, and they are purchasing from an online auction or a storefront. This puts remarkable power into the hands of the customer improving their overall customer experience. In this way, blockchain helps to build a brand.

Source: http://www.absoltz.com/blockchain-technology-for-shaping-the-future-of-the-digital-marketing/