The rise of cryptocurrency has been and will change the course of digital marketing forever. It’s no secret that the usage of blockchain and cryptocurrency is increasing a lot and no doubt, cryptocurrency, and blockchain will impact the world of digital marketing as well.
There will be many questions that come to your mind such as will bitcoin bring a new digital marketing strategy or it will impact it in other ways? Let’s find out.
1. Say No to Middle Man
Till now, we all have a middle man in between. Whether it’s about running social media ads or it’s about your website ads, there is always a middle man that takes the commissions from you,
Blockchain is capable of removing it. If you are aware of the browser called Brave, it uses a “Basic Attention Token” (BAT). It’s a technology using which the advertisers can directly pay the users for browsing the website.
Let’s take another example of simplicity. We all use Google or Facebook ads because they are a verified ads provider. They will allow you to find the right advertisers and will also make sure that the advisers are not scammed. Blockchain removed the barriers as the blockchain system is capable of verifying the advertisers without the need of a middle man through a decentralized system.
No to mention, cryptocurrency has played a very important role in the industry when it comes to payment. People see Bitcoin as an investment option as well as it is a well-known way to accept and send payments. This will impact the world of digital marketing.
Till now, most of the payments are done in USD. The price is not constant and will vary. Cryptocurrency will give you an investment option as well as a payment option in digital marketing.
One can make payments through any means in a decentralized platform. This will eliminate the need for a “Credit card required” type of issue.
3. Smart Contracts
Smart contracts are a great way for a digital marketer to grow their business and make successful sales deal with clients. The machine can automatically create a contract with little to no effort.
The contracts will be less time consuming and can be created in very less amount of time using smart contracts. Most importantly, there is no third party needed and the blockchain platform will ensure that all the things work correctly. In simpler words, the payment will only be made after the terms are met. In this way, the customer as well as the digital marketer will have the benefit.
It will remove the commission or the service fees in the contracts and make the contracts easier to read and understand. Not to mention, it will maintain security as well. The big companies can’t steal from small marketers once smart contracts are implemented.
4. Easy Payments
The struggle of “Minimum payment” will disappear as cryptocurrency offers various ways of payments. One can use Bitcoin and similar coins to make the payment. It’s not controlled by any government and you can use the same currency or wallet at every single place.
Now, you don’t need to worry about your money being held by the payment party. You can use the same wallet in every single place. The decentralized platform allows you to make easy and secure payments.
5. Consumer Data
Here is the difficult part in which the blockchain will affect digital marketing negatively. We as digital marketers work on the data we get. In simpler words, we have Pixel to monitor the website and then run targeted ads. However, this won’t be possible in the blockchain.
Blockchain will use a decentralized platform in which privacy is taken very seriously. The whole concept of blockchain is to maintain proper privacy. That’s the reason cryptocurrency payments are also hidden and no one knows when the payments are made.
To maintain privacy, the software won’t collect any data. As a result, it will become harder to get the data you want.
Like we mentioned above, privacy plays an important role when it comes to blockchain applications. The main reason why people love blockchain is because of privacy. Like we mentioned above, it will also affect digital marketing. However, if you look at the positive side, your data will be more private.
If you see it as a brand marketer and forget the targeted audience for a while, it will change a lot of things. For example, other companies won't be able to know where you are advertising and how much you are paying. As of now, we are in control of the third party we use. If they share the data, there are little to no things we can do. That’s why privacy is an important part which you will get here.
7. Transparency and Secure Payments
If you talk about the best thing about blockchain, it’s transparency and security. The blockchain platform is very much secured as compared to any other platform out there. Here, the security and privacy of the user are taken as the utmost priority. The payments you make are fully secure. No need to stick to a specific payment method for security. You can use any digital currency to make the payments.
Further, proper transparency is maintained. If you are making a deal with an influencer, the deal will be transparent and you can use Dedicated decentralized apps (DApps) for sending the data and collecting the payments. Not to mention, the smart contracts will also help you a lot here in the case.
Final Words :
To conclude, there are many things about blockchain which can change digital marketing forever. However, if you see the reality, it will take many years for this to be true. The tech giants will push more to keep their platform and earn commissions in between as long as they can. So, this will surely change the world of digital marketing bt it will surely take time. You can surely implement blockchain in digital marketing and treat it as a new digital marketing strategy.
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