Blockchain is a group of digital records, called “blocks,” that are linked without the need for a third party to verify them. The public learned about blockchain because it was the technology that made Bitcoin possible. All transactions could be checked and kept track of with blockchain. Marketers can use the openness and security of the technology, which are two things that customers want in the digital world of today.
Blockchain development services could help marketing and data transparency move forward. Blockchain technology is being used quickly in many fields. Blockchain is usually talked about in the financial and banking worlds, but it has a lot of effects outside of these markets as well.
Statista says that research into blockchain is well underway in the telecommunications, media, and technology industries. 40% of this group said they are in the awareness phase or learning more about the technology. 39% said they are experimenting with blockchain or making proofs of concept.
Since blockchain is so often used in the financial world, many people wonder how marketers could use it. Does blockchain technology have a place in marketing? Yes, there is, it turns out. Blockchain has the potential to change how marketers collect and use data, how they talk to customers, and how they manage ads. Here’s an overview of how blockchain will impact digital marketing.
Keeping track of Keywords
It’s hard for marketers to keep track of keywords. First, search engine algorithms change so often that marketers have to keep changing their strategies. Second, it’s hard to keep track of keywords on different devices and figure out if a search is local or national. Organic SERP rankings are very hard to understand, so when making reports, many marketers have to guess or make assumptions.
Using blockchain, marketers could keep track of keywords with real numbers. A blockchain-based tracker could take into account all of the differences that marketers have to take into account when summarizing their work. With this kind of technology, keyword positions could be tracked on all devices and in any place. Then, marketers could use this information to make campaigns that are more accurate and based on data.
Social media changes
The way people think about social media is changing because of companies like Sociall. This decentralised network lets people share, find, and connect with each other without the usual social media monitoring. WildSpark, the first tool made by Synereo, is another platform that gives its users a new way to pay attention. It basically turns viral content into a way to make money, with the idea that only the best and most popular content will move up the ranks. “WildSpark is a platform-agnostic Attention Economy layer on top of existing social media hubs,” says the website. WildSpark lets people who make and collect online content get paid directly for the value they create.
These changes to social media give users more control over the data they share. They also give users points for good content or content that goes viral. This changes a lot for marketers. Marketers must first figure out how important these decentralised social networks will become and if their customers will use them. Second, brands have to be completely honest.
Some marketers worry that they won’t be able to collect as much data, but since it’s not hard to get data from the big social networks now, it will just change how marketers get leads.
There are different ways to collect data for marketing at the moment. Many marketers get information from different places, put it all together, and then use it to run a campaign. This is not a good way to do things, and many campaigns run on data that is inconsistent or wrong.
Since blockchain transactions don’t have a central location, marketers have to go straight to the consumer to get information. Marketers can pay people or give them something else in return for their data. Even though the initial cost is higher, the return on investment (ROI) of the campaign based on this data is likely to be higher. So, marketers can get accurate information from their customers.
Think about this: People who give their information to your brand are probably already interested in it. This makes it much easier to score leads and convert them in the funnel, since these prospects are already ready to be worked on. So, yes, it will take more work and cost more up front, but using blockchain will help marketers get much better leads.
Fighting scams in the advertising space
Advertisers know too well that click fraud happens all the time. With adChain Registry, a smart contract on the Ethereum blockchain, AdChain is trying to stop this from happening. Ad impressions and clicks are real because they are on the blockchain, which can be trusted. The company wants to solve the problems of ad fraud and the lack of transparency. The platform makes all data clear from beginning to end, which is something that doesn’t exist in the traditional ad space right now.
More clear information for consumers
In the end, many blockchain technologies give consumers more information. They know which businesses have their information and how they got it. There will be more data for marketers to use to run campaigns. Even though marketers may have to pay to collect incentive data, the Blockchain Consulting Firm data will be real and very useful for their campaigns.
Blockchain technology is just starting to be used in marketing, but there are a lot of ways it could be used and a lot it could mean.