How Blockchain Changes The Digital Marketing Industry?

A blockchain is a distributed digital database that is decentralized and spread across multiple nodes. Each validated transaction is divided into blocks, and the transaction data, a timestamp, and the cryptographic hash of the previous block are all contained in each block.  Blockchain ad suppliers can provide a complete and actionable view of transactions and ad distribution. So this technology allows for the collection of high-quality data without jeopardizing its integrity and removing all the illusions that blockchain and marketing are not connected. Its characteristics of decentralization, immutability, and transparency promise revolutionary benefits in the digital marketing landscape. Let’s have a look at its different benefits excelling the marketing and advertising fields:

The Major Impact Of Blockchain Technology On Digital Marketing 

Blockchain technology is benefiting consumers and new organizations in many different ways. A few of these are as follows:

Transparency and authentication

Gone are when consumers ordered something online while not feeling secure until they get the same item. Blockchain removes this uncertainty as many intricate details, such as where the product was created, the labor engaged in the production, how the workers are paid, etc. It has considerably reduced the chances of receiving the wrong item. This is beneficial for business, as clients will create trust in your company. Furthermore, modern purchasers want to know everything there is to know about the company they are purchasing from, so this might be beneficial to both businesses and customers. Every step will be logged and validated, and all data will be documented for everyone's benefit. It will also ensure that the data is available via a public network. As a result, consumers will have access to information about the entire supply chain.

Benefiting back to customers

When we purchase something online, the eCommerce store or website has access to information such as where you have been, what you have looked at, and how many clicks it took you to finalize the purchase. Blockchain will disrupt this method, which will allow businesses to reward or repay customers for voluntarily and securely sharing their information with them. Consider it a point-based system. When done through the blockchain, the process can keep customers safe while simultaneously paying them for providing vital information that firms require to improve advertising. For instance, many companies have installed blockchain-enabled programs that convert consumers' loyalty data to points or tokens instead of saving. It further generates the rewards for storing the transaction details and adding the award points to the user account. In short, blockchain technology returns value to customers for data collected from them.

Disrupting spam emails

We all get overflowing with daily emails from various sources, including advertisements, discounts, or offer emails. Even our spam folder always remains full of unnecessary content. It is quite simple to use blockchain to help stop spam emails. Businesses might reward recipients for accepting emails by incorporating a modest microtransaction on the blockchain while deterring trash emailers due to the cost. Sending spam emails in mass would be prohibitively expensive for firms that send millions of emails every day. Blockchain implements an authentication mechanism to confirm the email's veracity.

Removing keyword Inconsistencies

It's difficult to stay on top of everything that's going on. Another consideration is that your target audience uses a wide range of devices. As a marketer, you may have to rely on guesswork or assumptions while generating reports. You can track keywords with real numbers using blockchain. It aids in the accurate tracking of keyword positions across several devices and places. This can help you create a more precise and data-driven campaign.

Emerging as the new payment method

In the vast majority of cases, all internet payments are made through a payment gateway. The payment gateway collects the customer's information and sends it to the bank, confirming the transaction. Payment gateways are experiencing various issues, and blockchain solutions are being developed to address these issues. Some businesses have already started preparing for the adoption of these new payment options. They intend to accept Bitcoin and integrate it into their operations. However, it has yet to be released to the general public.

Furthermore, like a PPC campaign, blockchain allows marketers to sell or buy adverts without a middleman. It will be regarded as a competitive factor in digital marketing, and marketers will pay attention. Some businesses have begun to test blockchain technology to simplify them.

Final Words

In layman's terms, this peer-to-peer technology can save a lot of money. It allows the brands to engage directly with the relevant publishers and get their message to the right audience by decentralizing the advertising ecosystem. Moreover, it facilitates real-time transactions to take place. Many multinational companies have already employed blockchain-enabled apps, but the full potential of blockchain technology is yet to be realized in the marketing and advertising industries.

Author bio

Ravi is a digital entrepreneur who has a vision of helping businesses to increase their online presence through websites, mobile applications, and SEO. He is the Founder & CEO of Webomaze Pty Ltd, a one-stop digital agency based in Melbourne.