Aside from all the news and stories about cryptocurrencies, Blockchain technology is already being used in industries such as shipping, aerospace, and defence for fast and accurate supply chain monitoring and to combat counterfeit goods, and in the case of the food and drink industry to quickly trace the origins of dangerous or contaminated food.
It’s said that Blockchain is set to transform the world of marketing in numerous ways over the next few years and beyond.
Well, we’ve read the articles, and gone through all the technical jargon and incomprehensible fluff, to bring you four ways we think Blockchain will change your marketing, in (hopefully) a way you will understand…
1. Blockchain will give you complete digital media transparency
Forrester has reported that over half of all display advertising dollars are lost to fraudulent inventory, and a recent study on programmatic advertising showed that 79% of brands are worried about media transparency – where their ad is shown, and who has actually seen it.
When it comes to display advertising today, through no fault of their own, brands are throwing money away.
Blockchain will be able to make display and programmatic advertising more transparent by verifying ad delivery, confirming that an actual person saw the ad – thereby preventing ad fraud from automated bots, and allowing more accurate ad tracking and channel attribution.
2. Blockchain will foster increased trust between consumers and digital advertisers
Consumers today are bombarded by digital advertising wherever they browse – to the extent where the ads are just ignored.
But what if there was a way to reward consumers for seeing, watching, clicking on your ads?
Blockchain will allow ‘tokenisation’ between advertisers and consumers, where an individual consumer can be rewarded (even paid) for watching ads – particularly ads from brands they regularly buy from, seek out, or search for. Blockchain will be able to capture this transaction accurately and transparently.
It could be, that in this age of increased focus on data privacy, brands who are willing to utilise Blockchain technology to reward consumers in this way, may be rewarded themselves with the consumer giving over their personal data in exchange.
3. Blockchain will drive better re-targeting and personalisation
How many times have you been faced with yet another banner ad offering you a discount on those shoes you just bought at full price three weeks ago?
Just. So. Annoying.
With Blockchain, all that re-targeting pain could go away.
Blockchain could prevent an ad being overserved, and a consumer seeing the same display ad too many times.
A better experience. More trust between brands and buyers.
4. Blockchain will help you identify your best social advocates
Today, you’re easily able to see which social media posts, and which social media channel, is giving you the most engagement and the best results.
What you can’t see is which of your individual brand fans are generating the most shares across each platform.
Blockchain can give you detail down to the individual advocates.
Once you know which of your fans are doing the most to spread the word and virally drive more engagement, and even potentially more sales for you, you can then target these social brand advocates and reward them in some way for their efforts in helping you deliver against your marketing goals.
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We’ve worked on AI, machine learning, and chatbot proof of concepts, and delivered actual real-world working models, for a number of brands.
We’re great at design, but development and technology is at our heart – as you’d probably expect from our name!
To talk about your marketing technology requirements – whatever they may be – just get in touch.