Blockchain is the latest digital marketing trend that is all set to take on the digital marketing industry as we know it. Many may recall that Blockchain mostly became popular because of its close allegiance to Bitcoin, and so people think that it is something that s only used in Financial and technical industry.
But, there is so much more to Blockchain than just Bitcoin. The technology is all set to immerse itself in an industry that has to deal with any type of data transactions. It may seem like a bold claim, but that is not the case here if you think about what is at stake and what is yet to come.
What is Blockchain?
Eight years back, Satoshi Nakamoto defined a peer to peer spread electronic cash system that would enable financial transactions without the actual need for physical monetary values. This system would ultimately enable direct online payments. Basically, Blockchain is a digital ledger that allows users to record their data safely, in such a way that the data is transparent, secure and decentralized. This also guarantees that the data stored on it is not corruptible and changes can be made simultaneously while other users are still online.
What impact will it have on Digital Marketing?
For marketing and advertising professionals, Blockchain signifies a step towards brand transparency, accountability and brand safety. It provides marketing in a dispersed world, every time a new technology comes along new ideas also come along with it. Below are a couple of ways you can transform digital marketing:
Online Ad verification:
As brands continue to use cyberspace to advertise their products, the idea of brand safety becomes quite evident and concerning. The idea of Blockchain being deployed for advertisement safety is quite novel. It will help brands by verifying ads and be very beneficial to marketers. With it, you can promote ad deliveries through an ad server and then release them to mining servers.
Over time, it is predicted that all media is going to be digital and all digital media is going to be addressable, and this digital and addressable media will be bought and sold programmatically. If you look at the digital marketing world, colossal companies like Facebook and Google have made huge gains with the introduction of programmatic advertising. These companies are known to have become famous by helping advertisers run their ads on various websites, through their display ad networks.
By making use of Blockchain technology for program buying, advertisers can verify if a user is genuine and also make sure that the website owner is not scamming the user and only charging them for genuine clicks. While the potential of Blockchain in digital marketing may seem exciting, the prospect for large-scale companies to adopt this technique is going to take some time, not only for companies to adopt the concept but also for mass consumers to fully understand this digital marketing tool. Nevertheless, it has more pros than cons; it provides efficiency, transparency, security, and performance.