Authored by Mr. Amol Roy, Founder Shutter Cast
The derivation of blockchain technology can be traced back to 1991 when Stuart Haber and W. Scott Stornetta put forward a concept called a blockchain. But now it is completely transformed, specifically in the past decade. Blockchain is also set to disrupt and set to change the world of digital marketing in a new way.
Yes, while most of us associate digital marketing with things like AI and analytics, blockchain may be the most disruptive technology to transform the sphere. It is adding a new revolution in the relationship between consumers and businesses. But what exactly is blockchain marketing? It envisions an entirely new marketing environment, in which consumers can own and sell their data directly to marketers and advertisers. Also, it increases transparency in all sectors of a business as the information is stored digitally. This information can’t be tampered with or deleted. This enables the companies to see the exact use of the funds and if the audience receives them or not.
So let’s see why Blockchain technology is gaining immense notice in the marketing landscape.
No more middlemen
Beyond cryptocurrencies, blockchain offers a world of opportunities. It can affect the digital marketing industry greatly. One of them is eliminating the intermediaries.
With blockchain, you can entirely skip the interims. Here, so you won’t need a third party (like Google) to create trust as users will be verified automatically. Companies placing ads and websites with space available can work together flawlessly. This process will help to reduce the cost of digital advertising and marketing. Ad metrics will become more accurate without depending on a third party and would be readily accessible by marketers. That means it will also be easier for marketing teams to measure the ROI of their ads.
Blockchain can be very useful in tracking keywords, something that has been a challenge for many marketers. Search engine algorithms have been changing from time to time. Tracking keywords within different devices and decoding a national versus a local search has been an issue. Moreover, organic SERP results appear to be too complicated to understand leaving marketers only making assumptions while making reports. The use of blockchain could transform that experience by allowing marketers to gain real numbers when tracking keyword. The technology can also track keyword across different devices in different locations. Through this, marketers can use the data and information they get to create campaigns that are data-driven and more accurate.
Modifying the campaigns
As a digital marketer, you want to grab the attention of the customers through your campaigns. But unsure of what they will like, they just send numerous ads hoping one will catch their interest.
But in actuality, it annoys the consumers. The reason is the ads take up the whole space on the screen. Second, it slows down the speed of the site, and lastly, it takes up too much battery and bandwidth of the device. These problems can be simply avoided using blockchain. It will provide a precise path for interaction between organizations, customers, and publishers. Users will have full control over the ads they want to see. Also, it will allow them to choose the ads according to their interests, rather than dealing with unwanted and unnecessary ones.
Advertisers are able to get the value of data, thanks to blockchain. Previously advertisers have access to less detail about the use of ads by publishers, which led to high cost for publishing ads and also in some cases ad fraud. But, with blockchain, the process is more transparent. Moreover, companies can now verify the origin of an item, where it was manufactured, who manufactured it, or how much the workers who manufactured the item are paid to do so.
Despite being in its nascency, blockchain technology has already made its way across multiple industry verticals and departments, and digital marketing is ahead in the game.