Blockchain was developed as a new digital currency in 2008, and while it is currently the world’s leading software platform for digital assets, blockchain has and will continue to revolutionize many other industries as well. Although many people will continue to see the buying and selling of cryptocurrencies as blockchain’s main purpose, blockchain technology has much deeper and far-reaching implications for businesses all over the world.
More than the advantageous financial aspects, blockchain also provides for shared contracts, essentially minimizing human errors and ensuring that every transaction made is secure and easily validated. Muirfield Investment Partners founded by Thomas Zaccagnino have shown how blockchain can revolutionize well-established industries like real estate by capitalizing on one of the most significant features of blockchain: that something can be unique and stored digitally, requiring no equivalent in the real world. This creates boundless possibilities for everything from contracts and certificates to wills and deeds and advertisements.
For marketing, one of the biggest benefits of blockchain technology is decentralized communication between parties. A public ledger that everyone can see and share among users allows all those who are using it to keep it current. Marketing “middlemen” that control the territory between advertisers and users will be eliminated through the peer-to-peer transactions. Ultimately this will foster a more time-efficient and money-saving process for all participating parties, as well as increase consumer trust in advertising and reduce privacy concerns.
What will blockchain marketing mean for you and your company? Here are some close-to-home considerations for you and your business.
Your company will be able to make direct and efficient connections. Blockchain resets the control of data, relationships, and the creation of value. Consumer groups will be able to utilize blockchain networks to exchange value and to buy and sell services directly. So instead of communicating indirectly with site owners when you wish to publish an advertisement, you could communicate directly in a one-on-one negotiation. Ultimately, this will mean more direct business between advertisers and publishers. A trading desk as a mediator will no longer be necessary, making the long value chain that service providers participate in superfluous. Website owners and those interested in advertising will be able to come to a contractual agreement together. Once the smart contract is closed, the predefined event will take effect exactly as decided, greatly improving the overall logistics of business using a technological platform.
Your company’s ability to efficiently use online advertising will increase. Advertising material for your company will be booked, delivered, and billed when one identified user calls up a page. This will be stored in blockchain. The advertising materials will appear only in places where they are wanted because advertisers will deposit the pertinent information in whichever advertising blockchain environments and pages where they are desire and not where they are unwanted. This eliminates worries about ad safety by virtually eliminating fraudulence, non-human traffic created by bots, and lack of evidence.
Your company’s ability to get what it pays for will also improve. Brands are paying big bucks to reach potential customers, but with bots generating almost half of all advertising traffic, businesses have no way of knowing whether or not they are reaching the target audience. With blockchain, if you want to know how your advertising money was spent and where the transactions occur, you look in the blockchain. Both online and traditional advertising can be monitored as long as it is booked and paid for by a cryptocurrency consistent with the blockchain technology, like bitcoin.
Additionally, your company’s advertisements will no longer be considered annoying by consumers. Using blockchain, your marketing will be deposited in the kind of advertisement forum that one would consider useful and acceptable, making systems like ad blockers unnecessary.
You will be better able to manage your advertising and marketing workforce. Blockchain will allow your company to hire the marketing and advertising firms, regardless of geographical location. Organizing and disseminating projects efficiently requires a fundamental and qualitative platform that can manage current documents and data. Blockchain has technical superiority that enables improved operational workflow that results in time-saving, cost removal and risk reduction.
A recent article on Profit Kong states: “Blockchain has something utopian about it, not for nothing some voices speak of it, the technology resembles the earlier ideas of the freedoms of the Internet. It will also bring profound changes to the marketing world…For marketers, this means nothing less than realize the enormous potential of the technology and considering how the blockchain can simplify certain processes.”
What are some ways you think blockchain marketing will matter to your business, your company? Feel free to share below.