If you are new to the idea of blockchain and do not have any idea about what it is, we are here to help.
By definition, blockchain is a decentralized, public, and distributed digital ledger or database that is used to record and store transactions across several computers. This record cannot be altered retroactively without altering all the corresponding blocks and the harmony of the whole network.
With businesses taking the assistance of digital marketing, we have seen so many dynamic changes in the world of marketing over the years. These changes have contributed to the overall portrayal of businesses for their target audiences.
Many businesses have taken advantage of the powerful technological changes and taken their businesses to new heights of success. But the advent of blockchain technology is a whole new universe of possibilities for businesses as they take its help for their digital marketing strategies.
Blockchain is the most complicated and distinct form of digital technology. It is changing the way businesses conduct their digital marketing campaigns wholly. Businesses today are profiting from blockchain technology exceptionally.
When we talk about blockchain, we think of cryptocurrency and blockchain. But there is an underlying treasure of possibilities that are connected to marketing.
We have seen what digital marketing can do for businesses with the way it is constantly changing and improving.
But we are yet to see the wonders of blockchain technology. Blockchain is slowly transforming digital marketing with a full force of technological advancement. As we have seen, the arrival of artificial intelligence and analytics has already introduced new opportunities to businesses so they can cater to their customers more effectively.
Now, both AI and analytics pale in comparison to blockchain technology. The biggest reason behind this is that artificial intelligence and analytics have facilitated businesses more than consumers. With the emergence of blockchain technology, the tables have turned because it benefits consumers more.
AI and analytics have taken the control of user data and provided it to businesses. Blockchain technology will give this power back to users by giving them full autonomy over their data.
The core concept of blockchain is helping parties to connect and conduct business with each other without the interference of any third party. It effectively provides an efficient bridge for conducting business transactions between two parties. This eventually eliminates the redundancy of intermediaries.
Blockchain is a quite new digital marketing tool. Before there was not any awareness regarding blockchain technology and people were quite afraid of the way cryptocurrency worked. But now, there is a lot of understanding in people about blockchain. They have seen the wonders it does in facilitating both businesses and consumers.
For this very reason, digital marketing services offered by digital marketing agencies include the use of blockchain technology to further contribute to providing a premium experience to consumers.
To get an astute understanding of how blockchain is changing the world of digital marketing, let’s dive into see some of the prominent reasons:
1. Blockchain Provides Transparency
The fraudulent activities happening online are nothing new. As long as the digital world is working, unfortunately, it will be hard to completely obliterate these issues. Before, people were forced to trust the seller and buy products blindly, hoping to get their money’s worth of product and not get brutally scammed.
However, with the emergence of blockchain technology, it has become quite easy for people to verify the authenticity of a particular product before making a purchase. Blockchain technology facilitates people to confirm the manufacturing process of a product.
This provides a level of transparency between businesses and consumers. Before, businesses and consumers were only concerned with the facet of buying and selling products or services. But those days are gone now. Now, consumers look into the moral and ethical standing of a business and then decide to buy from them.
It is simply not a transaction any more but a whole relationship between businesses and their customers. This factor of blockchain technology provides consumers with a wholesome sense of satisfaction that is unbeatable.
When consumers know that they are establishing relationships with reputable businesses, it makes their whole user experience quite great. Many people are looking for the whole supply chain procedure to know where exactly a particular product is coming from. Blockchain technology helps businesses and people alike by making a transparent path to ensure authenticity.
In addition to this, blockchain technology prevents fraudulent ads that can sabotage the experience of users. These ads can be quite frequent which can hurt the user experience since they get constantly blocked by these ads.
Some blockchain technology tools prevent fraudulent ads to appear during the journey of the users. Effectively, there is an option for paid ads that can be viewed by valid publishers and users. These ads do not block the content from users and instead enhance the overall experience of the users.
These paid ads are made by businesses and companies who have rigorously researched a set of target audiences and then made appropriate ads to target them effectively.
If you are in the business and you do not know how to effectively use blockchain technology for your business, you can take the aid of any digital marketing company and they will accommodate you accordingly.
2. The Control is with People
As discussed above, artificial intelligence and analytics aided businesses far more than they did consumers. Companies and businesses have enjoyed the benefits of being able to get their hands on the data of users. This data has provided a lot of advantages to businesses.
But blockchain technology has taken control from businesses and companies and given it back to its rightful owners which are the users. Small or large businesses alike all want our data and personal information. The data helps them in making intelligent decisions to digitally market their products or services.
At the end of the day, this data helps the consumers in interacting and buying the products that they are searching for.
But aside from this, many businesses are subjecting their users to data theft to make quick money. Businesses are taking advantage of this liberty and selling these data to companies.
This is sabotaging the trust of users in digital businesses and shopping online. People are becoming more cautious and concerned regarding their personal information. They do not want to share their details online for fear of getting scammed.
Blockchain technology is changing the world of digital marketing by restricting companies from easily pulling data from users.
When we use blockchain technology intelligently, we find that it has great potential in limiting the influence of companies over the data of users. For this reason alone, blockchain technology is slowly becoming one of the most prominent beneficial digital marketing solutions among others.
3. Blockchain Gives Measurable Results for Marketing Campaigns
The era of digital marketing is laced with organic and paid marketing campaigns that may or may not provide profitable results to businesses. But this has not been entirely beneficial and the results were harder to quantify.
Enter blockchain technology and it has changed the whole game of getting measurable results from marketing campaigns. Blockchain technology blended with robust tracking software can give concrete results for marketing campaigns.
This will help businesses effectively evaluate the progress of their marketing campaigns. When businesses are enabled to monitor and see the results of their digital marketing campaigns, they make more informed and clever decisions regarding their marketing strategies.
All this has benefited customers in the end and that is the key purpose of any digital marketing campaign. Blockchain is slowly transforming the user experience for customers and is helping them in gaining a far better experience than before.
4. Blockchain Provides Effective Keyword Monitoring
Keyword research is the most commonly used digital marketing tool. It has helped many businesses in creating valuable content, optimize websites, and drive more traffic to their websites.
Not every person has the same online experience as others. The locations and devices they are using, play a huge role in their search results and in having different experiences online.
This distinction makes it hard for digital marketers to keep accurate track of keyword ranking.
Now, if we take a look at blockchain technology, we will see that blockchain provides the facility of recording and storing every data with their respective ranking position. Blockchain also stores the location and devices of the users. This helps digital marketers effectively figure out the ranking of keywords.
All this information can help digital marketers in making clever decisions regarding their marketing efforts and areas of improvement. When businesses can see what keywords and phrases are gaining the attention of their target audience, they will be able to create content accordingly that can fit the desired needs and expectations of the customers.