Impact of Blockchain on Digital Marketing.
When we talk about blockchain most of us think blockchain is for financial purpose, cryptocurrencies, and digital ledgers. Though it makes sense because blockchain is a tech which supports Bitcoin.
Bitcoin is a currency which attempts its own form of financial disruption. But many of us don’t know that the blockchain has incredible power to disrupt and solve problems in other sectors like marketing and advertising.
Protocols which are based under blockchain could change the online ads are purchased, deliver, measure, value. It can even provide us with the accurate data at the time of tracking of online ads, which may give us the better ROI.
Some ways blockchain could contribute to the ad marketing space are following below.
Establishing Trust with Ad buys:
When we are doing online advertising like through digital medium it's impossible to know whether the stats which are provided through a different medium are true or not, because when we are counting we count the number of clicks which is on our site which is believed that they are our true customers.
But who knows they may be “bots” or hired “clickers” who artificially pump up ad stats so their distributors can charge higher rates?
Whereas because of the blockchain, we can save millions on ads because the chain is transparent and encrypted, therefore companies can easily determine whether the people viewing their ads are members of their targeted audience.
Audience Targeting is better.
Earlier advertisers used to gain the information about customers from various sources and they can get the information about their lifestyle, age, sex, income etc. but when the blockchain will come in the picture advertisers will have the ability to build a customer profile directly from the customer, which will allow to know the customer need more precise and most important who are most likely to buy your product.
Transparency is improved.
Block chain’s digital ledger system allows tamper-proof transparency for every product’s move through their supply chain. Which means that the buyers can easily track where a product has come from, who has handled it, whether it’s legit or faux, whether they are purchasing from an online auction or a brick-and-mortar storefront. This puts tremendous power into the hands of the customer which enhance their customer experience. And it will help to become a better brand in the market.
The digital marketing industry is growing with blockchain and vice versa
Google payment update is good news for the investors and suggests better results for businesses and individuals who earn Bitcoin or own it in their digital wallet because Google is now accepting Bitcoin payments with the Developers Payment API. It’s believed that blockchain technology will be universally adopted by many digital channels over the next few years, as businesses seek to leverage its technological advantages.