Is blockchain Marketing The Future of Marketing?
In the year 2022, there was a shift in our marketing trend due to the Covid-19 pandemic. Digital marketing was at its peak and the use of technology has crawled its way to be applied as a marketing tool. Before the pandemic, social media platforms are mainly for the expression of ideas and opinions that can have an impact on the way we think, act, or behave – but now they are being used by different companies and brands around the world as one of the many digital marketing tools.
This new trend is in effect and is known as marketing on the blockchain. This means promoting a product or service through digital marketing channels with blockchain technology. Consumers will also use this digital marketing channel to either buy or request products and services. The way they process all of our data and understand our purchasing behaviour will become even more advanced in the following years, which makes it even more crucial for marketers to take advantage of these developments.
One of the biggest reasons digital marketing is becoming increasingly relevant is because of the way people use smartphones and tablets. People now have access to Internet connectivity wherever they are. This means marketers can reach consumers anytime, anywhere without costly physical media advertisements. Digital marketing has also become much cheaper compared to physical marketing campaigns because of automation and 3D printing technologies. As a result, advertisers no longer need to spend millions of ringgits annually to run their brands.
While digital marketing has many uses, blockchain could prove to be the crowning achievement in this field so far. Digital marketing channels like e-mail, websites and social media platforms are now being integrated with blockchain technology to create brand ecosystems. This allows brands to directly interact with consumers by selling them advertising packages or collecting data on them directly. Consumed directly from a device or accessed via an app, this networked marketing channel can bypass centralised systems like email servers for greater efficiency and reliability.
So how does integrating blockchain technology benefit digital marketing applications?
Increase transparency and your brand trust
Blockchain technology allows transparency on every transaction that is made using cryptocurrency or flat money. This could have a huge positive impact on growing consumer confidence in your brand.
Safer online transactions
Blockchain can significantly increase the security of online payments by providing a layer of transparency and trust. It operates through a transparent computer network that enables users to monitor each transaction on its public ledger as it takes place.
Protect data and privacy
Blockchain assures that all data is comprehensive, accurate and consistent, whilst making sure that it will not be lost.
Improve your conversion
With the use of blockchain, customers can decide who has access to their data and to what extent. Additionally, blockchain platforms reward their users for sharing personal data with cryptocurrency tokens. This enables marketers to gather information from customers who are genuinely interested in your brand or product, turning them into a loyal customer.
Boost your advertisement performance
Blockchain will make it possible for marketers to access massive amounts of data, which they can turn into relevant information to target better potential customers. This will drastically increase click-through rates (CTRs) and increase the effectiveness of the advertisements by leveraging the data intelligently.
Marketing trends will shift radically in 2023 thanks to the advancements made in digital technology and AI. Smartphones have made it easy for marketers to target consumers directly with advertising campaigns. The invention of AI has also made it possible for consumers to interact with brands directly via digital channels. And using blockchain technology has made it possible for brands and consumers alike to conduct business transactions directly on a network platform.
