The digital marketing industry is dynamic and susceptible to change, however, it has been able to fluidly adapt to new technologies and shifting the focus of consumers. But now there is a new change on the horizon that will shake up digital marketing along with many other industries and that is blockchain technology. However, when we think of blockchain, most of us think about finances, cryptocurrencies and digital ledgers, but it’s not just that. The uses of blockchain technology are far more wide-reaching.
However, before moving further, let us get to know what this technology is.
What is Blockchain Technology?
Blockchain technology underpins cryptocurrencies like bitcoin which is a massive excel sheet that operates in a decentralised network format. This means that the data has a large amount of information that can be transmitted and added onto, without compromising on security. You cannot change the blockchain and the data stored and no one person or entity can destroy it. On the other hand, blockchain is not bitcoin, while that’s what it is best known for. Bitcoin is basically a digital currency that operates on the blockchain. However, by linking it to one that thing, you will lose sight of the big picture and the impact it will have on all industries.
Blockchain technology has a significant potential to transform the digital advertising and marketing industry. Here are few ways how it can help digital marketing agency experts in taking their advertising strategies to a whole new level.
- Data Management
Data is the lifeline of digital advertising ecosystem. It helps digital advertisers from measurement to targeting and who put this data to good use have a growing advantage over people who do not. Surprisingly not, some are looking at blockchain technology to address issues and challenges related to data. The biggest data management issue is the privacy and this is one area where experts believe that blockchain has the greatest potential. All the data offered by participants in the blockchain platform will remain in their own systems and the blockchain won’t allow participants to access or take possession of other’s data but can ask questions about it.
- Establishing Trust
One thing with online advertising is that it is almost impossible to know if statistics are accurate or not. When SEO agency counts click to the site or Instagram followers, they are looking for true customers, not the bots or hired clickers who artificially pump up ad stats. Truly, it is hard to tell, but blockchain can help as it is transparent and encrypted. This helps the companies to analyse who is viewing their ads, whether they are members of their target audience or not and help them save millions. Simply, companies can make sure they get the advertising they pay for.
- Eliminate the Middleman
The middleman has become a part of the process in the world of digital advertising and marketing. However, the companies investing in advertising are only able to get half the value, due to intermediaries involved. Blockchain technology can solve this by creating much better value ad campaigns. In finances, cutting out the middleman means eliminating the banks, however, in marketing, these central authorities could be search engines or Facebook. So, instead of communicating indirectly with the site owners when you want to publish the ad, you could communicate directly. Blockchain comes into this by proving that users and click through data is real which leads to website owners and those interested in advertising no longer need a mediator to sign an agreement.
So, the above mentioned are few aspects where blockchain can help in digital advertising and few of the SEO Company are using it to fire up their ad campaigns and so can you.