Blockchain Technology Is Changing the Digital Marketing Industry
Blockchain refers to an incorruptible digital ledger, which records economic transactions and virtually everything of financial value to a company. Blockchain technology enables cryptocurrencies such as Bitcoin to exist and function securely in the digital world.
Although blockchain is synonymous with finance, it also affects other industries such as telecommunications, the technology sector, and media. Blockchain affects marketing through the mode of collecting and using data, addressing customers, and management of ads.
Impacts of Blockchain on Digital Marketing
Here are several effects of blockchain on digital marketing.
- Tracking keywords
- Changes to social media
- Marketers net better leads
- Combating fraud in the ad space
- More transparency for consumers
Blockchain strengthens trust between customers and brands through clarity, which is critical to the evolution of search marketing as these impacts point out.
The technology eliminates intermediaries hence increasing transparency among users. The approach of doing business is changing as blockchain that has no central government as clients interact reliably through innovative means. Blockchain technology has increased data transparency rapidly in many industries.
For marketers, tracking keywords prove challenging on many occasions. Marketers always change course as search engine algorithms keep on changing. Tracking and deciphering keywords on local or national search markets on different devices is problematic for many marketers.
Many marketers depend on assumptions and guess works to create reports since they rarely understand organic SERP results. Blockchain technology ensures marketers track keywords using real numbers. Marketers account for advertising inconsistencies when summarizing their efforts through a tracker in the blockchain network.
The tracker technology in blockchain tracks keywords and SEO in any location across different devices. Tracking keywords provides the necessary information to marketers who create campaigns that are data-driven and more accurate.
Changes to Social Media
Currently, companies are decentralizing social media to change their user perception. This decentralization allows sharing, discovering, and connecting with other users without surveillance by traditional social media.
Blockchain technology has a platform that allows users to monetize viral content, which ensures the content that climbs the rank is the best and most popular. Content curators and creators benefit by generating quality contents that climb up the social media hubs, hence helping users with necessary information.
Decentralized social networks ensure absolute transparency to a consumer base by offering relevant information. Marketers can also assess customer response using their decentralized social media platform to submit quality services.
Getting leads for marketers is changing despite increasing fear of losing out customers to social network giants who can collect data easily.
Marketers Net Better Leads
Marketers use varied approaches in data collection. There are a variety of sources to collect data from and then base your campaign on such data. Sourcing data from many locations results in incorrect or inconsistent operations. Blockchain ensures marketers source data right from consumers.
Marketers incur additional cost to get data from customers, but the ROI with correct information will be higher. While collecting data, marketers can assess the viability of winning a consumer base in terms of conversions.
Combating Fraud in the Ad Space
In advertising, click fraud is common and marketers know this well. Blockchain solves the lack of transparency through high levels of ad fraud counter attack measures.
More Transparency for Consumers
Transparency for consumers is ultimate in blockchain technology. Consumers know which businesses have their data and the mode of collecting that data. Marketers can also collect incentive data, though it may be at a fee, but valuable in their campaigns.
With blockchain technology in the digital marketing industry, possibilities and implications are endless. Get in touch for tips on how to leverage blockchain technology in your digital marketing campaigns.