The blockchain is more than Bitcoin and has a significant impact on different industries instead of only cryptocurrencies. Digital marketing is the primary area for exploding blockchain. This advanced technology permits decentralized communication between several parties. Everything is verified and documented.
Blockchain Eliminates Middleman Digital Marketing
Digital marketing needs intermediaries to control the zone between users and advertisers. For example, SEM (search engine marketing). A website may display banner ads from Google instead of finding advertisers because Google is a reliable source.
If the display network of Google scrutinizes an organization, it is acknowledged as a credible business that can’t damage the brand of a host website. Google handles the transaction processing so that the owner of the site can fairly pay for the total clicks generated on the ads of an advertiser.
In this situation, Google is playing the role of an intermediary between the owner of the website and the advertiser. For this reason, they will need a cut of revenues.
SEM Through Blockchain
If you imagine blockchain marketing for SEM, the situation can be different. The website owner will not need a network of Google Display to get advertisers because every user is already verified and validated. The advertisers may know that they are paying money for authentic clicks, and the owner of the site can trust that this amount is fair. They can work without any intermediary, such as Facebook or Google. It may result in a decrease in additional costs and increase your profitability.
The blockchain is Trustable with Transparency
Consumer trust is a significant problem for many companies. People are incredulous about different things, such as the source of food, and the conditions of the factory while preparing clothes or food. Companies need transparency which is possible with Blockchain Marketing. Value proposal of blockchain may be the level of verification and documentation of everything. For instance, customers may get behind the scenes of the supply chain or retailer to know more about products.
Transparency enables customers to discover whether a business is reliable or not. Blockchain Conferences can be the right way for customers to trace the sources of products.
During a case study, IBM and Walmart teamed up on a project to increase the transparency of their supply chain procedure. Digital tracing of blockchain allows customers to learn where their meat came from, and they started with their Chinese retailers. It was a good step for the business Walmart because consumers got sufficient proof to trust them.
Public Accountability with Blockchain
CSR (corporate (business) social responsibility) is a gloomy term. The documentation and transparency of blockchain may be used for the creation of digitized contracts. The public may use and view these contracts to hold organizations responsible.
Blockchain Gives Control to Consumers to Their Information
The blockchain is trying to balance the advertising with identity concerns of consumers. Different services offer full control to users of their transaction history and identities like Keybase, MetaMask, and uPort. Consumers can control the information on the dashboard of Keybase through blockchain. It makes it necessary for marketers to take permission from customers.