Marketing strategies have improved a lot since the last five years, but it has a sure chance to get better with the help of blockchain. Many of the tech enthusiasts relate digital marketing with current technologies like data analytics and artificial intelligence, but blockchain technology will be the most disruptive. It is changing digital marketing strategies, and it can benefit both customers and businesses. Today, we are going to see whether digital marketing will vary with the use of blockchain technology.
Although technologies like data analytics and artificial intelligence are improving the business process, blockchain can bring marketing to the next level. Blockchain is considered to be the most innovative technology in the future, which will significantly change the commerce of industries worldwide. This technology came into existence in the year 2009, with the launch of the first innovative digital currency, Bitcoin. Since then, the internet is mostly crowded with a number of bitcoin prediction, keeping people up-to-date with Bitcoin and blockchain technology.
Blockchain is a decentralized technology, consisting of peer-to-peer connection among a million computers, which stores a copy of data within the network. Transactions using the blockchain technology are more secure and faster than the traditional methods, as issues of privacy and downtime get significantly lower.
6 Ways Digital Marketing Will Change With Blockchain Technology
1. Empowering The Masses
Above all, blockchain will empower the masses. Blockchain was created with the goal to snatch the power of data from the companies and give it back to the customers. In today’s time, companies are able to pull customer’s data without any permission. Third-party members like Google and Facebook helps digital marketing companies to steal personal data from the people. These digital marketing agencies use data to analyze the customer’s buying behavior. With the help of blockchain technology, decentralization will come into the scene, and it will totally put third parties in a bay.
2 .Blockchain Will Change Marketing Through Social Media
Today, social media platforms like Facebook, Twitter, LinkedIn, etc. are dominating the world online. More than 85% of the population is active in social media. Advertising and digital marketing companies make use of these social media to bring awareness about their products to the masses. Blockchain will force digital marketing companies to buy data directly from customers, rather than relying on social media platforms and will also eliminate invasion of data.
3. Authentication And Transparency
When you buy products from an eCommerce website like Amazon, Flipkart etc. you have no knowledge regarding the manufacturing location and quality of the product. These companies can fake information about the product. With the use of blockchain, companies will know exactly where the product was manufactured, the quality of soil on which raw items were produced, This is important, as consumers today are showing more focus on the quality.
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4. Blockchain Will Cut Digital Marketing Expense To A Great Extent
Digital marketing companies will take more advantage of blockchain technology. The digital marketing companies have to pay a hefty amount to google and social media platforms like LinkedIn, Twitter and Facebook to display their advertisements. Digital marketing strategies, combined with blockchain, will reduce the expense of running ads, to a great extent. New companies will get more benefit from blockchain technology, as they start with very less or no budget.
5 .Blockchain Will Offer More Data Protection
Another important influence of blockchain technology would be securing the customers’ data. Google, Facebook, and Amazon collect personal data and sell them to advertising companies, which, as a result breaching online security. Digital marketing companies need customer data to analyze the purchasing behavior of the customers so that they get a boost in sales. Storing the data in a decentralized platform and encrypting it will make it difficult for these companies to collect personal data.
6. Earn More Trust From Customers
Blockchain will help the companies develop stronger relationships with the customers. Customers, on the other hand, will give more attention to their brands. Although the elimination of data companies like Google, Facebook, etc. will make the process of collecting data more difficult, customers will trust more on companies and their products and this a good thing for both of them.
Finally, we have seen that with the use of blockchain, digital marketing companies will surely get benefits. Blockchain analysis reports that it has the potential to change the way companies approach their customers. Although technologies used today, like artificial intelligence and data analytics, have proven to be beneficial for business, blockchain will make it to the next level. Blockchain can improve digital marketing strategies we use today by eliminating third parties between customers and companies. People do not know how and where the product was made. Blockchain would solve this problem by introducing transparency in the supply chain. Although blockchain will make data collection a difficult task, still it will help companies win customer’s confidence.
Hi, This is Sujit. I am a passionate writer and crypto enthusiast. I’ve been working for Cryptoknowmics which is there for the latest bitcoin news and let you know about future of ICO. I like to share new tips, tricks, and trends related to Bitcoin, Cryptocurrency, and Blockchain. You can follow me on Twitter and Linkedin too.