How Blockchain Technology is changing Digital Marketing

When you say blockchain technology you think about cryptocurrencies, NFTs, and the Metaverse. But blockchain technology is slowly expanding and becoming more than just the things mentioned above.

First, let’s discuss about what blockchain actually is. Blockchain is a shared, immutable ledger that aids the process of recording transactions or tracking assets in the business network. These assets can be material, tangible things, or they can be digital, intangible. One of the important benefits of blockchain technology is that it protects the circulating data. And it gives the consumer the power over their own shareable data.

But with its rapid development and increase in usage, how will it change the way we approach digital marketing efforts?

The data will be in the hands of the people

You will not have such easy access to consumer data as before. All brands up until now have profited on the fact that consumer’s data was so easily accessible and not protected in any way. Yes, it benefited the consumers in a way, as brands marketed their products & services for them. But it’s an invasion of data privacy. What changes with the usage of blockchain technology, is that you’ll not be obligated to give out your data to use certain apps. And that data to be stored in the apps server, and potentially to be sold to a third party. In fact, your data will act as a key to unlock certain apps, and after usage, your data will return safely in your hands.

This will bring marketers back to asking consumers for the information they want and need to properly direct their marketing efforts. It might seem a step back for digital marketing, but it’s a step forward towards online data and consumer protection.

Increase lead accuracy

Bringing you back to the traditional way of asking consumers to offer up their data is actually beneficial for businesses. Why? Think of it this way, the consumers that will give you their information, are more likely to be interested in your services and products. This means higher ROI from campaigns. And increases conversions as you have access to a database of customers that will make a purchase.

More transparency

This offers consumers as well as companies knowledge about the products and services acquired. Companies will know if the products have been manufactured by child workers, if the products are 100% organic, or if the services are trustworthy. With blockchain technology companies and consumers will be able to verify thoroughly the products and services before purchasing. This is an important step, as consumers are focusing more on the process of creation of certain products and services, rather than the quality.

Clever Ad spent

With blockchain technology you will efficiently direct your ads to your exact target audience. Up until now, campaigns have been run on limited understanding of consumer behavior and interests that were inconsistent cross-channel. This technology will help you by gathering substantial information and optimizing the transaction from campaign, to click to purchase. With this technology and the help of AI, you’ll know exactly what works. What copy, social platforms brought sales and most importantly when and how. But this is still are in the works, and we are very eager to see it happen.

The use of blockchain technology can also help businesses to seamlessly create new products and services. And its rise will change digital marketing efforts in disruptive and irreversible ways.

These are just a few of the ways blockchain technology is changing digital marketing. At Social Media Boutique Agency we are keen on seeing how we’ll have to adapt our efforts and create innovative ways to interact with the target audience. Are you ready to change your marketing efforts to match these changes? Let’s chat:

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