It goes without saying that companies and Brands are always looking for ways to improve their product/service delivery.
Facing common issues related to delivery, misplaced orders, and dealing with third-party requests requires a lot of resources and investment to maintain Brand trust among the consumer base.
However, most companies are well aware of the fact that these activities affect the company’s profits at some level. Unfortunately, they can not avoid these issues just to save assure some more profit.
So cutting down on resources with a technology that is more efficient and less costly would be the best possible solution. But is it possible to do so? If yes, then why companies are not implementing these solutions? We’ve got everything covered for you.
What Is Blockchain Technology?
The technology we were talking about earlier is known as Blockchain Technology. For those curious people who are not familiar with this term, Blockchain Technology is a digital record book where every single transaction is recorded.
Depending on the Blockchain Configurations. These records can be private or visible to the normal public. Generally, they are referred to as digital ledgers.
As it involves inter-connected blocks of information that create a chain-like structure. If you are thinking about how it is different from normal means of storing data, the simple answer is that Blockchain Technology does not require a third party to verify the transactions.
Due to these outstanding features of this technology, investors are taking this as a crypto business idea for gaining leads in the early phase.
3 Takeaways Of Using Blockchain Technology With Digital Marketing
The majority of people think that Blockchain technology is only made for cryptocurrencies. But the truth is companies and individuals wish to stay within their comfort zone while being afraid to try something new.
No wonder Blockchain Technology has a wide range of use cases and potential. Without the need for a mediator, this Technology is capable of providing many benefits. That the digital marketing industry usually doesn’t receive.
Whereas, processing and storing data becomes way powerful after deploying Blockchain Technology. Below are some reasons why the Digital marketing industry will shift to Blockchain Technology in the coming years.
1. Better Transparency
Whenever it comes to gaining the trust of your customers, Transparency is essential. In terms of the user data, transaction details, or any other sensitive information you collect.
Because most of the people who use digital marketing services are either working professionals or Brands who wish to reach a specific audience.
In such a case, using Blockchain Technology can turn out more effective in comparison to the normal methods. As the data recorded on the ledger stays more transparent, both the service provider and consumer can go through it anytime they want.
Providing a transparent environment to work into, this feature can help both parties make accurate decisions for marketing purposes.
2. Cost-Effective Solutions
The Digital marketing industry makes millions by simply helping other people(companies/Brands) to meet with a selected group of individuals with certain interests.
However, some agencies charge a lot for promoting the product or services of a company/individual. And surprisingly people are paying that service fee without any objections. Which is very common due to the fact that there is visible growth.
But what about startups or normal people who wish to enjoy such services? is it possible for them to afford it? obviously not. Unless they have a stable source of income or they are 100% sure to get the ROI.
Implementing the whole concept of digital marketing on Blockchain Technology will make it cost-effective in many ways. Whether it is keeping the track of processed data, managing a large amount of analytical data, or deploying web-based solutions.
3. Enhanced Data-Protection
Blockchain technology always has the upper hand in terms of reliability and security. Unlike the modern data management solutions that use cloud hosting or centralized data storage, Blockchain Technology can keep your valuable information much more secure.
With the help of Cold storage and decentralization of data, the calculated risks become easier to deal with.
In addition to that, some blockchain technologies provide extra layers of security as well. This allows companies and data analysts to store their sensitive data under given circumstances.
It can include data of user interaction analysis, market analysis, and the performance of a new product/service. The enhanced data protection from Blockchain ledgers is sure to challenge the digital marketing companies that do not offer privacy at this level.
Blockchain Technology: Good Or Bad For Marketing?
Considering the current situation of the digital marketing industry, what can we say about the effects of blockchain technology? Are they good or bad?
The answer can vary from person to person. Because digital marketing agencies and companies will suffer in market competition with those companies who adapt to this new and effective solution.
Therefore, from a consumer’s perspective, we can say that Blockchain Technology has the potential to turn the tables if implemented in the right manner.
Whereas if you are a digital marketing agency owner yourself, your opinion can be totally different. Depending on whether you wish to upgrade your services with Blockchain Technology or not.
Overall, Blockchain Technology integration with digital marketing is beneficial for everyone. According to the compelling reasons we discussed previously, existing digital marketing professionals can benefit in a lot of ways.
So we can say that the digital marketing revolution with blockchain technology will take place soon enough for sure!
Digital marketing agencies and companies charge quite high for advertising certain products/services. Making it difficult for startups and individuals to benefit from such activities.
However, if they fail to adapt to the necessary changes, losing their consumer base and credibility in the market is inevitable. Especially if Blockchain Technology enters the digital marketing industry.
It can be good news for those people who rely on digital marketing to promote their business and services to a target audience. But migrating from the existing technology to Blockchain will be difficult without professional help.
So make sure you have enough resources and professionals to carry out the task hassle-free. Feel free to ask any questions related to how Blockchain Technology will change the digital marketing industry.