In the era of trends, Digital marketing is the biggest trend that is helping businesses market their products and services using digital technologies.
Over the course of the last decade, the marketing industry has become dynamic because of the digital aspects. You can even say that this has to do with the change in consumer behavior.
As the consumer became more technologically literate, they started looking for solutions online. As a result, we can now see a huge change in the marketing horizon. The new marketing trends Blockchain promises to shake the marketing industry.
What Exactly Is Blockchain?
Although Blockchain has become a new phenomenon in the marketing industry, many people are still unaware of it.
If we go by the definition, Blockchain is an incorruptible digital ledger of transactions and shared information. It can be programmed to store almost anything.
The person who is using Blockchain can both use and share data with others. Moreover, every member of the Blockchain network has the responsibility to keep the Blockchain updated and transparent.
The reason why this network is called Blockchain is that all the transcription history is kept safe and secure in the blocks in the form of chain-like patterns. The striking fact about Blockchain is that you can only add information and cannot delete or make any edits.
Blockchain is a really interesting technology. While critics have always had some bad things to say about its product Cryptocurrencies, they have only good words for Blockchain. To know about Blockchain in detail, visit the bitcoin smarter platform.
How Blockchain Holds The Potential To Transform Marketing?
Previous digital technologies were used to improve business processes and deliver results faster and safer. After the addition of Blockchain in the technological evolution, now we can enjoy something new that the older technologies lacked – An Exchange of value. This innovation has turned into a priority for most marketing industries all around the world.
Although Blockchain has been in the industry for a little over a decade, it has certainly proven itself to have the potential to become the core technology in every industry.
Below we have listed how Blockchain can transform the current marketing industry.
Improved Data Security
As more and more businesses are taking the digital landscape, data security is becoming a major concern. In the past, there have been data scandals that involve names like Facebook and Google.
Even the biggest tech giant companies are suffering from data security, common people are afraid that their personal and financial information will be leaked online.
With Blockchain, transactions and customer information is verified. Although what is happening in the network is transparent, the people themselves will be anonymous.
Generating Better Leads
Running ad campaigns that drive sales. This can even bring better results with the help of Blockchain. Blockchain enables companies to run ads and automate them based on the specified set of rules.
With the right approach, you will see that it will improve the advertising metric in reaching the ads to targeted audiences. When your ads fall into a certain category, only then will reach your audiences, ensuring you can make the most out of generated leads.
More Transparency For Consumers
One of the great things about Blockchain technology is that it promotes transparency. When the network is deployed in advertising, audiences will know which industry or company has their data and what data.
While for marketers, they will be able to access more robust real-time customer data with accuracy. This helps them make better decisions and run the right ad campaign.
Ad Fraud Prevention
According to Juniper research, there is an estimation that 2022 will see a $44 billion loss in ad frauds. Blockchain has the potential to reduce these fraudulent activities and prevent any ad frauds from happening.
Blockchain technology integrated with tools such as smart contracts helps the marketer find bot infiltration and flag sites. This can eliminate fraud and bring back the ad flow budget to the right sites with real clicks.
With the inclusion of Blockchain in marketing, marketers can access more accurate information about consumers and their favorite brands. This data will help the marketers to target relevant audiences and increase their ROI.
Moreover, the availability of smart contracts will help the marketers with global transactions, knowing all the transactions will be safe and secure.