Blockchain in Marketing
In the last 3 years, the technology of Blockchain has flooded the global market. Cryptocurrencies are trending among the top topics in countries all over the world, bringing more and more interest in research and the adoption of new implementations of blockchain technology. Lately, NFTs have grabbed the attention of the Blockchain community as well as the general population’s interest. What could be the next industry to be disrupted by blockchain technology? Marketing.
But how can Blockchain Improve the Marketing Industry?
Blockchain Technology has already several applications in the Marketing Industry, and it is evolving so fast that we will have to update this list soon.
Ad Fraud Prevention
Lately, more and more advertisers have seen their money disappear due to ad frauds, with some of it being spent on fake traffic. It is a common fact that publishers post ads to unconfirmed websites to deceive advertisers with fake data.
Blockchain technology can offer advertisers some safety and save them money as well, by removing any third party between the advertiser and a user.
Another application of blockchain technology is the possibility that it offers to protect the advertiser from fake profiles. This could reduce the cost and the efficiency of the advertising campaign. People will have the opportunity to crosscheck the creator of content and build a stronger relationship with the brand.
Apart from that, blockchain can give full control to the user over their data and to whomever, they want to share it with. This feature will enable the community of the company to be more trustworthy.
Blockchain technology could also be proved useful to one of the biggest spending media for marketers, Influencers. There is a controversy over influencer marketing and how effective the results are. There are problems that make it difficult for marketers to track the Return on Investment, Fake Followers, or fake engagement.
Blockchain, as mentioned before, can improve safety and transparency over fake profiles. And give authentic results to marketers over their influencer marketing campaigns. Moreover, with the technology of Smart Contracts that Blockchain offers, payments could be made easy and fast as the smart contract will immediately set the transaction as soon as a certain result is fulfilled.
These are some of the use cases that Blockchain Technology can offer to the Marketing Industry. The benefits that it offers to marketers are priceless since it dramatically affects the 3 major problems that every digital campaign faces our days. The application of blockchain on marketing campaigns could reduce the cost but at the same time increase their efficiency and eventually strengthen the relationship between the marketer and the user.
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