Blockchain is a new technology available in the market, and it provides security and transparency in digital marketing. The roots of blockchain traced back to 1990. You want to concept related to blockchain marketing and the changing landscape associated with it. Then, you can go through the three fundamental reasons why blockchain marketing is getting widespread attention with time among people.
- Decentralization in the client-server model: You want to send money to someone, then; you have to connect with the intermediary, i.e., the bank in that case. Still, all the things are centralized to receive online access for the payment transfer to the client. On the other hand, you can use blockchain technology in which there is no need for any intermediary. You can transfer the money to anyone.
- Security aspect in the immutability of record: The second reason, which will encourage you to use blockchain technology, is the immutability of the documents. All the data is in a secure form. Therefore, the hackers try to make changes in the records. It is an impossible thing for them.
- Transparency in the transactions: Blockchain maintains a digital ledger online. All the blockchain have access to all such transactions in one place online. Moreover, the identity of the users remains concealed.
Strategies related to the Blockchain Marketing
Check the best practices for blockchain marketing are as follows:
- Affiliate Marketing: Around $6.4 billion of money has been spent on loyalty marketing programs in the US alone. Still, the brands face the issues in the affiliates spending massive money on the investments. Blockchain can curb the problem with the help of using cryptocurrencies that simplify the payment process made to the affiliates in the commission form.
- Influence Marketing: Huge investment has required in influencer marketing connecting with celebrities. Still, influencer marketing is getting a bad reputation due to the issues of tracking ROI, fake followers, engagement, and transparency issues. Blockchain can solve this issue with the help of the intelligent contacts system in which the brand can do the payment after the completion of the specific actions and projects.
- Join Loyalty Programs: Customers join the loyalty programs of the bands frequently. They want to become loyal to the brand or plan to do so in the future. Blockchain is a decentralized thing. Therefore, the customers redeem the loyalty points from the real-time, as they want to go.
- Rewards given to users: We live in an economy where it is essential to capture the users’ attention to stay in the market. Brands pour down truckloads of their money in advertising, i.e., around $300 billion annually. Blockchain technology allows you to make the most of your investment. It will show the ads to the target audiences present online. A blockchain browser Brave will enable you to choose the viewers group for your ads online.
Blockchain technology is making its way to multiple industries and departments with time. Marketing is among them, and we covered the concepts of blockchain and its uses in the marketing field.