It is fantastic to know that technology has come at the tip of our fingers within a matter of some years. When new, all the technologies are doubted or not considered for everyday use as the internet, smartphones, and so on. Similar to this, blockchain is in its budding and blossoming stage. It is seeking great consideration to become the core of each marketing company
In 2008, when Satoshi Nakamoto launched Bitcoin, the knowledge was not accepted by many people. Moreover, the application of blockchain was restricted to the industry of cryptocurrency. But with each passing year, industries initiate to explore the benefits of blockchain as it is highly useful.
To enter this benefitting technology of blockchain for your industry, you only need to own any of the cryptocurrencies. For information related to cryptocurrency purchasing, you can go through the pepperstone review and figure out the benefits you can enjoy. Trust me, you can avail benefits more than your imaginations.
How is Blockchain Enhancing the Marketing Industry?
The industry of “Marketing” is also taking benefits from blockchain. The combination can resolve the major known hiccups of the industry, which include the presence of the middlemen and lack of transparency in the process. The important ways blockchains are benefiting the marketer for transforming their customer’s experience are as follows:
By Targeting the right Market/ Audience:
As far as the online advertising industry is concerned, it has been observed that a considerable percentage of people do not get attracted to the advertisement. Even when the middlemen are paid to do proper marketing by using consumer data, they fail to do so, and they do not engage the audience.
Blockchain technology, in this regard, is offering one of the best solutions. Organizations have found the intense innovation in the blockchain for utilizing its properties in creating decentralized search engines. This is appropriate because it helps advertisers market the product in front of the right audience.
By Prevention of Fraud Advertisement
Ad fraud on the internet for marketing has become widespread and is a severe matter of concern for advertisers. Payment against fake clicks or impressions is spreading throughout the Internet while shaking the pockets of marketers.
With the use of blockchain technology, the advertising platforms are able to display each click in real-time. The way is to rent the advertising space and divert significant traffic.
By Decentralization of eCommerce
It was never anticipated that a day blockchain would be able to decentralize the methods or ways people shop their necessities online.
OpenBazar is one of the platforms which is using blockchain technology for creating the marketplace that is decentralized. It is suitable for the sellers to interact with their customers to better understand their needs directly. Any third Larry is not required at all, and no fees must be paid. The Interesting point is its built-in Bitcoin wallet for paying and earning in cryptocurrency.
By Improving Data Collection Process:
None of the marketers are capable of making the most from useful customer data. Another disappointing point here is that, despite many available tools, there is not an extraordinary performance by the advertisers in maintaining or collecting accurate customer data.
Blockchain technology has the solution to this significant problem too. It has encouraged customers to share their data by compensating them for something. Since the customers will provide the data themselves, it will be accurate and can be kept in the data economy for further use. This data is verified, accurate, and accessible for the companies.
This can be easily observed that blockchain is not merely supporting cryptocurrencies but also other tag companies and industries. The marketing industry can even get more advantages from blockchain and cryptocurrency. This technology has diverse space to be explored yet.