Digital Marketing Meet Blockchain.
No doubt you have heard of blockchain at this point, but we will excuse you if you figured it was something that was only relevant to those who trafficked in cryptocurrencies and futuristic movie plots. Actually, this decentralized ledger technology could have a pretty big impact on marketing. Here’s how:
Sure, blockchain is still pretty new and not many people understand it, but the experts that do predict it could help marketers more directly target their consumers and remove today’s online advertising middlemen—i.e. Facebook and Google. It won’t happen tomorrow, but the potential exists.
One of the biggest advantages blockchain seems to offer is greater privacy protection. Consumers are very concerned about their personal information falling into the wrong hands, in fact a survey conducted by the National Cyber Security Alliance and TRUSTe found that 92% of Americans worried about their online privacy. Marketers that utilize blockchain to help protect privacy will win big when it comes to consumer trust.
How much trust do consumers have in online reviews? Are consumers confident influencers really have all the followers they say they do? Blockchain provides greater transparency to verify such information thanks to its ability to analyze and validate marketing claims and if a follower is real or a bot. Everything becomes more accountable, and fraud is decreased.
There is also the potential for blockchain to help marketers secure their ad payment processing to eliminate fraud. That means more accountability when it comes to companies purchasing media advertising inventory from multiple ad networks via the ad exchange.
Whether all of these possibilities, or only one, come to fruition, blockchain has the potential to impact the future of digital marketing in a positive way. With any luck, it will help democratize online information even more, giving consumers more ability to control their own information and interact with brands and companies in new and more secure ways.