Is Blockchain Digital Marketing a significant aspect of the Global Market?
What does it mean?
How is the Blockchain technology being as the role model for the present Digital Marketing World?
What is Blockchain Digital Marketing?
The Blockchain is relevant to the Bitcoin at which the decentralized technology use for the Crypto-currency transactions. Simply the current transactions, either data or currency of the Marketing World, are stored and added into chronological order without holding the central records to do.
Pros and Cons of Blockchain Technology
Pros:
Transparency:
The public is enabled to view the changes that have made on the ledger of the blockchain. To alter those changes needs to have huge computing power.
High Data Quality:
The data that is provided in the blockchain technology will be apparent, consistent, complete, and widely available for all the audiences.
No Third Party:
No third party involvement is found while the transaction of money is being held between the two parties.
High-speed Transactions with low cost:
The transactions through blockchain technology are held at high speed while comparing to the transactions of the interbank. The additional burdening transactions costs are diminished by eradiating the third parties. Hence, it charges a very low price.
No Single Centered Authority:
The transactions of blockchain technology are not monitored by the single entity where it has no single point of the network to have the failure, and it is sturdier for the hackers to corrupt.
Cons:
More Energy Consumption:
The standard considerable computer power is not enough to validate the transactions of 450 trillion thousand by the minors of the blockchain.
Ethnic Adoption:
It requires both the operator and user to invest as the blockchain needs the transfer from both the commerce and financial model.
No Regulations:
The Blockchain technology doesn’t have any regulations on how the transactions should take place. It may lead the industries and governments to adopt the blockchain theology in the broader range that remains unfixed.
Purpose of Using Blockchain Digital Marketing
The Adoption of Blockchain digital marketing might result in the following aspects to improve business marketing.
View-ability:
The consumers do not view the advertising platforms which are serving the ads that get a 56.1% impression on Google.
It is the most annoying act that lets the advertisers pay for not watched ads.
To solve this problem, the Blockchain technology browser has been introduced by the ‘Basic Attention Project’ that detects the user time spent on the website and the viewed pixels.
Simply the advertisers will pay for the watched ads.
It will provide high privacy for the user and allows the advertiser to target the users.
Privacy:
The giant advertising platforms like Facebook and Google are using the user information.
What will happen?
When there is no involvement of the third parties between the actual advertiser and the users.
Then the direct connection between them will take place. By considering that, ‘BitClave’ is going to step ahead to introduce the online search through Decentralization.
Here the BitClave’s engine can be used as a search medium for the consumers that allow paying for the data of their own.
The targeted ads will be served in an exchange. The advertising most common issue of adblocking will be addressed.
Ad Fraud:
It is the most common issue that each advertiser in the marketing world is facing.
Ad frauds in 2016 lead the advertisers to waste $12.5 billion.
The raise is growing day by day, and it let the advertisers lack trust in digital marketing.
Deloitte has organized the blockchain technology for the delivery of the ad that fulfills the advertisers.
It will let us find that the ads are going to the right place and delivered.
Blockchain Technology Impact on Digital Marketing
The use of Blockchain technology is showing a huge impact on Digital Marketing on different categories of users.
Consumers:
Most of the users are spending precious time, lose money, and use the devices to watch the ads on it.
But with the use of blockchain digital marketing technology, the users can view high-quality ads with complete transparency of watching.
That means the products in the supply chain are whether genuine or not can be traced with the help of the digital ledger system of Blockchain technology.
The consumers can get direct digital or micro-currency for the watched ad content.
It also helps to vanish the high usage of bandwidth and device battery.
Advertisers:
It all because they don’t have the customer data, Ad frauds of bots, and no proper target of the consumers.
When the advertisers have poor data, details of the audiences will lead to having a lower ROI.
The involvement of blockchain will ban third parties and will let them have the complete data of the consumers with direct contact.
The advertisers can identify the efficiency of the proper reach of the ads to the consumers.
Different Ways Blockchain will Transform Digital Marketing
The use of Blockchain Technology is predominant in the digital marketing and advertising sectors. Some of the advertisers and marketers maintain data with extreme brand safety and Transparency. Here are the five ways for how the Blockchain Technology will transform the Digital Marketing sector.
1. Destruction of The Concept of Middleman: Saying Goodbye to Middleman
Blockchain technology says goodbye to the Middleman concept. Blockchain introduced the Peer-to-peer system and eliminated the intermediaries. Through the Peer-to-peer system, users can interact with each other directly.
It allows the companies to pay their audience directly to the view of their ads. The Decentralised system of Blockchain gives complete security to the clients and contractors easy to flow between two parties.
2. Online Ad Buying and Verification: Strict Verification Process
The advertisers can’t trust the many clicks to their ads. Are these clicks coming from the real customers or bots?
Through the Blockchain for Programmatic Buying, the advertising company can quickly identify the ad views were coming from the real targeted audience or not. Here it ensures for advertising parties to pay for only genuine clicks because the system is transparent and encrypted.
Another deployment for Blockchain Advertisers is ad verification. It provides incredibly beneficial and can determine the mechanism for brands where their ads have been placed. Here, ad fraud can be easily identified and provides cost-effective alternatives.
3.Targeted Audience For Better Influencer Marketing:
By implementing Blockchain technology, advertisers and marketers can build their customer profiles directly from the customers. It helps to develop and maintain the database for potential customers only. It allows companies for smart advertising to target the audience who are willing to buy their products.
Blockchain technology plays a crucial role in Brand awareness and influencer marketing. It provides an easy way to track influencer contacts, likes, views, and clicks with high-level accuracy and transparency.
4. Improved Transparency:
Blockchain offers full transparency on the transactions and its efficient way of safeguarding the privacy of the users.
Blockchain’s digital marketing system provides tamper-proof transparency to every product move through supply chain management. The buyers can easily know every step of the products and provide the utmost transparency and customer experience.
5.Data Protection and Regulatory Concession:
Blockchain Technology leverages marketers to store a large volume of data securely. It is also an alternative to the traditional data storage methods because of its decentralized and encrypted system.
Blockchain technology ensures high-level privacy protection. According to the new GDPR compliance usage of Blockchain, the customer permits the company to access the data for a limited time and limited usage.
Future Of Blockchain In Digital Marketing Industry
- Every digital marketing specialist knows the importance of Blockchain Technology in digital marketing. The cryptocurrency market is directly related to the blockchain technology.
- Researchers proved that 0.23% of the total world population, or one out of every 438 people, own the Bitcoins. It is recorded in the Public Blockchain ladder.
- Blockchain technology usage is continuously increasing. Regular people and business persons are knowing the importance of Bitcoin as a digital currency and Blockchain as a technology.
- Nowadays, Google is accepting Bitcoin payments with the Developers payment API. This Google payment update is good news for the investors and gives better results for the Businesses in their Digital Wallet.
- The many digital channels universally adopted blockchain technology for the next few years. Many businesses seek leverage of its techniques and Cryptocurrencies.
- Many digital marketing companies and Organisations relying on Blockchain technologies.
- For example, Display Network Channels made the online payment via Cryptocurrencies.
- In Future Facebook, also implement Online payments via Credit Cards, PayPal, and Facebook ad Coupons. It is under the Testing process.
Examples Of Blockchain Digital Marketing
WAVES Blockchain Marketing:
Waves in a decentralized Blockchain Platform which focus on the custom Blockchain Token Operations. Waves Blockchain Marketing Platform explained how to use the Waves Crypto platform for assets transfers and custom token insurance. Waves Blockchain Platform maintains the National Currency transfers through Complaint gateway Operator.
Kyber Network Blockchain Marketing:
Kyber Network Blockchain Marketing allows users to exchange and convert their digital assets. This example shows how the Kyber Network was exchanging the Crypto-space needs. Kyber network provides anew away contract wallet that allows anyone to receive the payments from any token seamlessly.
Gilgamesh Platform Blockchain Digital Marketing:
This Gilgamesh Blockchain Digital Marketing platform explains how Gilgamesh used Blockchain Technology to increase the empowerment of the Writers community. Gilgamesh platform permits the authors to socially connects and exchange knowledge, consumers Gil Tokens, user experience, and readers to share critics.
ANX Blockchain Advertising:
ANX is a cutting edge financial technology company specialized for Bitcoins and Cryptocurrency. ANX is one of the first Bitcoin exchanges and money transfer operator company for Foreign Exchange. This example is a promotional video of ANX how the Bitcoin Debit cards introduced, how to transfer your Bitcoins directly to ANX debit cards.
PIVX Blockchain Marketing:
PIVX is a Cryptocurrency industry, and it provides high-level transnational security and privacy. PIVX Blockchain Marketing example describes the highlighted features of PIVX.
Conclusion
The Blockchain technology is trending concept in digital marketing for all the advertisers and marketers. The blockchain is the best-advanced to earn the accurate results of real-time marketing. The above described Blockchain Digital Marketing will let the businesses to find everything about it.
