Blockchain is a technology that is thriving at an incredible speed. When Bitcoin was launched, blockchain technology was limited to cryptocurrencies. Today, more and more industries are exploring the benefits of this technology. Marketing is one of the areas that benefits the most from blockchain. This technology solves the main setbacks facing the marketing industry.
It is comparable to a blockchain database. A blockchain consists of multiple blocks connected together to form a chain. Data is stored in each block. The data stored in these blocks can be shared with the desired users in a peer-to-peer (P2P) network. The blockchain is protected using cryptographic technology to prevent unauthorized persons from interfering with the data.
Targeting and Engaging the Right Audience
When it comes to online advertising, it’s difficult to target the right consumers, even though most advertisers have insight into their behavior. Most sellers have a lot of information about the consumer and still pay high fees to intermediaries who advertise. Despite doing all this, they are still unable to attract the right audience.
Preventing Ad Fraud
Ad fraud is becoming an increasingly serious problem for marketers and advertisers. Paying for fake impressions and clicks is a common trend today. Therefore, ad fraud distorts analytics data and this affects marketing strategies and decisions. Blockchain technology arrives to show clicks on advertising platforms in real time. It also helps sellers by renting advertising platforms and attracting quality traffic. Thus, the clicks are authenticated, thus avoiding advertising fraud.
Creating Reward Systems and Loyalty Programs
Customers will never forget that they were created to feel special. Loyalty programs work well with sales because they make customers feel special. Blockchain can be used to create an unforgettable experience for customers. Gift cards can be attached to a blockchain, creating loyalty programs and a secure platform for storing and issuing gift cards.
Crowdsourcing and Data Collection
Good data is very powerful for marketers. Despite having dozens of marketing tools and trying different marketing strategies, most vendors are still unable to get quality and accurate information about customers. Only customers can provide accurate information for themselves.
Blockchain is decentralizing the way consumers shop online. Sellers can use the technology to create decentralized marketplaces where merchants can sell their products or services directly to consumers without the use of expensive third-party platforms.
Consumers believe what other consumers have said about the brand, according to the seller. Blockchain allows you to use effective marketing. Through blockchain technology, marketers can verify the identities of influencers, validate their followers, and guarantee their investments.