Nowadays, Digital marketing has become a hot topic for discussion. It has changed the meaning of marketing. It has become a crucial part of any business. In this diverse society, a business must know how to use various online platforms effectively and make their brand more visible. Social media is one of these online platforms. Digital marketing is emerging rapidly and it has a great impact on the people. But another emerging technology is Blockchain, which is all set to change the digital marketing world.
Blockchain technology will have a major impact on all industries and not only on cryptocurrency. It is much more than Bitcoin. The impact of blockchain could extend beyond finance and currency. Blockchain will have an effect on digital marketing also.
Let’s know what is Blockchain?
Blockchain is the latest technology that is making a mark in various industries. It is a decentralized and digital technology where a record of transactions that take place on the peer-to-peer networks is kept. The records list constantly grows and these records are accumulated securely in several distributed systems which are interconnected. Blockchain is less vulnerable because it does not have a centralized point.
Now we will see how Blockchain could change digital marketing?
As we already know that what is blockchain. It will affect the digital marketing industry in several ways. Blockchain aims to increase transparency in every industry because the information is digitally saved. The information can’t be manipulated or deleted.
Here are some points on how it will affect digital marketing:
1) Affecting Privacy of Data:
In digital marketing, one of the most expected changes is data privacy. The companies keep track of the consumer’s behaviour. They maintain data of the products bought, visited websites, the article read and searched, and several things. All this data is sold to the advertising companies and even to the politicians. Personal data can be easily hacked and leaked. But all issues can be solved by using blockchain technology. All the information is secured with the consumer only and the companies can no longer access the data.
Blockchain technology will provide security to all consumer data.
2) Transparency:
Many companies face a problem that is the consumer’s trust. Nowadays, people are very speculative. The consumer wants to know about everything, like in which conditions their clothes were made and from where the food comes.
With blockchain, transparency can help companies to gain the trust of the consumers. The consumers are allowed to ascertain whether the claims of the company is trustworthy or not.
The real picture of companies can be easily seen.
3) No Intermediaries:
Usually, dealers were dependent on the middlemen for the ad campaign launch and business. There was always a middle-men between the seller and the consumer. Through blockchain, there will be an elimination of depending upon any intermediaries, it can significantly affect the digital marketing industry. The cost of intermediaries will reduce, which ensures an increase in digital marketer’s income. The role of intermediaries was played by sites like Google or Facebook.
4) Change in Digital Advertising:
With digital marketing, one irritating problem which is faced by consumers is advertising. Mostly the companies irritate the clients by popping ads on a page which they visit. Instead of fewer ads, they send a load of ads which shows that there is a lack of understanding companies of companies about their customers.
These ads not only annoy but takes up bandwidth and drain the battery life. Companies that are based on blockchain are introducing applications such as BAT (Basic Attention Token) which will bring changes to the interaction between users, publishers, and advertisers.
5) Benefits of Branding:
Among customers, modern business has more reliability. With the use of blockchain and cryptocurrency in the business, the product or services can be introduced in a modern way. In the blockchain system, the content remains an important part. The quality of products and services will be verified by search engines using blockchain data. As seen SEO techniques are no longer helpful but by blockchain, fake products will be known very quickly. In branding, an innovative business gets a high speed.
Conclusion:
After knowing the effects of blockchain in digital marketing, it is understood that it will have a major impact. It should be regarded as an evolving technology. Blockchain will improve the relationship between the sellers and consumers by removing any fake details about the product and services. It will be a better user experience because there will be less unnecessary and irrelevant ads. Most importantly it will secure the important data of the consumers.
We hope it has some positive impact on the industry as well.
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