Blockchain Technology Could Revolutionise Digital Marketing
Blockchain technology is reshaping how brands, advertisers, and marketers engage with their audiences. According to a recent article by BeInCrypto–a cryptocurrency news platform–, this technology is set to revolutionise the digital marketing landscape, forever changing the way businesses connect with their target consumers.
Blockchain’s distinct advantages over traditional databases lie in its transparency and immutability, the article explains. In this database format, the information is saved with multiple independent parties, making it more verifiable and fostering trust and credibility. Once recorded, the data becomes irreversible, ensuring the sanctity and permanence of information.
The impact of blockchain on digital marketing is multifaceted. One key area where it significantly improves operations is keyword tracking. Keywords are search phrases that users type into search engines. Keyword research and tracking are integral to marketing success, and can be instrumental in the success or failure of a company’s digital marketing efforts. BeInCrypto explains that by integrating the technology into search systems, marketers can achieve transparent and accurate tracking of keyword rankings, location-based results, and device usage. This level of data granularity offers marketers unparalleled insights into their performance across different regions and devices.
Blockchain also empowers marketers to enhance lead generation by tapping directly into the consumer, their most valuable resource. Unlike the current data collection model, which often leads to inconsistencies, transactions in this format enable marketers to interact with consumers on a decentralised platform, the article asserts. Privacy-focused browser, Brave, for example, utilises Basic Attention Tokens (BAT) to directly remunerate users for viewing ads, fostering a model where users voluntarily share data instead of it being extracted by companies. This approach paves the way for more genuine and effective targeting, the article claims.
Another critical issue addressed by this technology in digital marketing is ad fraud, a persistent problem plaguing the advertising industry. The global cost of advertising fraud is around 54 billion, with the third-largest affected country being the UK. Unfortunately, this fraud is not publicised much, and the losses are borne by brands and marketing agencies, like Geeky Tech. According to BeInCrypto, Verasity’s VeraViews tool leverages blockchain to distinguish between genuine and fraudulent views, ensuring that advertisers only pay for valid interactions. This level of scrutiny and accountability has the potential to save billions of dollars lost to ad fraud.
While the promises of blockchain in digital marketing are exciting, the adoption of this technology by industry giants like Google and Facebook remains uncertain. These tech giants have built extensive proprietary databases and advertising platforms, making the case for the adoption of this database technology challenging. However, third-party ad-selling platforms have found success in harnessing blockchain’s capabilities to reduce click fraud and ensure fair remuneration for publishers.
BeInCrypto does point out that this technology is not a panacea for all digital marketing challenges. This technology is still evolving, and its integration into various marketing models is being refined. However, the potential it holds is too substantial to be dismissed, says the article. Blockchain will inevitably alter the face of digital marketing, ushering in an era of accountability, transparency, and trust between brands, marketers, and consumers.
As this technology continues to evolve, it has the potential to democratise the digital marketing landscape, shifting power away from centralised platforms to individual users, the article concludes. The future of digital marketing is intricately tied to its transformative potential.
Geeky News
Parallel House, 32 London Road
United Kingdom
COMTEX_436897935/2764/2023-07-16T04:53:01