In the last decade the techniques for marketing products and services have undergone many changes. Perhaps the most important of these is the digitization that marketers have had to adapt to in order to achieve their goals.
As if this were not enough, another revolution is approaching thanks in large part to a new technology, possibly the most disturbing marketers of all time have ever faced. industries: The Blockchain or Blockchain.
Advertisements
While many of us associate digital marketing with terms like Artificial Intelligence (AI) and data analytics, the blockchain is changing all preconceptions about virtual marketing, and it may be surprising to know who will benefit from this fact.
Advertisements
In this article you will find:
But what is the blockchain?
Like what happens with the amorphous entity that is the internet, the blockchain is best defined by what it does. Blockchain is basically a data-based algorithm, which allows you to authenticate, encrypt, save and expose information as in a public ledger.
In essence, the blockchain allows transactions between two parties without the need for a third party to perform the verification. Most of the blockchain uses so far have focused on finance and cryptocurrenciesBut the underlying technology it uses could be of enormous use to marketing.
Advertisements
From an economic perspective, the data represents the history of transactions stored in 'blocks' that can only be constructed but not modified. The blockchain algorithm was designed to run on a decentralized network of many - really many - computers. (or "nodes") instead of a supercomputer, and without a central leader or administrator, it is virtually impossible to to hack.
No one has control of the blockchain, but it is the sum of all the individuals on the network that controls all the information and verifies it.
Advertisements
The blockchain is a programming language open, that entrepreneurs and innovators across industries are beginning to use, or at least explore the potential applications of this technology.
The Blockchain and the future of marketing
Marketers took time to understand the true value of direct marketing, where the brand and the customer have a very close relationship. This type of relationship develops only when the customer trusts the brand, but in many cases that interaction is undermined by all intermediaries that appear throughout the supply chain (retailers, advertising agencies, media, etc).
Advertisements
When everyone along the chain takes a piece of the pie, brand transparency begins to be questioned, profitability is impacted, and relationships fail. An example of this situation occurs in the tourism industry, where travel agencies are are becoming obsolete and media companies are being replaced by advertising systems programmatic.
The marketing industry, including interactive and advertising agencies, must be prepared and ready for the disruptions, and opportunities, offered by the blockchain, adapting its models of business. Although it is possible that there are still a few years left for its full development, what will be seen in the next 12-18 months will be the initial stages of change in consumer behavior and consumer behavior. marketing.
Some of these changes can be:
Access to information changes. The power that individuals have already begun to experience will continue to increase. The Blockchain will help people to have better control over access to their own identity and personal information.
Marketers pay for customer service. Not only will consumers have a ad blocking software on their mobile devices those who will have greater control over their own interests.
This technology will make it difficult for brands and marketers to know if an ad u offer reached its target audience, and the fact that brands pay for each Contact.
Transactions may cost a few cents or fractions of a cent, but will require technology such as blockchain that can handle micropayments on a large scale, as credit card companies are not prepared to do it.
While advertisers can oppose the whole concept of paying consumers, they will benefit from a new level of access and trust with their target audience.
Remember the news from Facebook in 2016 about ad click fraud on their network? At this time, more concepts of advertising products are observed using blockchain that provide accurate and faster reports, reducing the fraud and ensuring lower advertising costs, therefore it can be said that marketers are achieving new economies of scale.
Transparency, credibility and truthfulness as supreme laws. Blockchain's ability to authenticate a brand's claim on the quality of its product or service will give consumers a new sense of trust. Since data and transactions are built into a public record that is sequential and unalterable, the supply chain becomes a key part of the value proposition.
When a brand ensures that its product is organic or has certain natural ingredients, the blockchain can serve as a fact checker that authenticates brand claims for public consumption and this will force brands to comply with their promise.
The loyalty programs they are more available to everyone, and points and coupons can be converted into another currency.
Interactive agencies will need to develop blockchain applications, and instead of being left out of the action, they will help companies to identify the blockchain platforms necessary to integrate or develop their own applications of business.
The buyers' journey will be more personalized, thus increasing the importance of direct-scale messages.
As the first followers are taking advantage of the blockchain right now.
There has already been talk about Bitcoin being at the forefront in terms of blockchain implementation. However, there are some companies that are already in full implementation mode, while others are still just peering over the edges of this paradigm-shifting technology.
According to Forbes magazine, Walmart and nine other food giants are collaborating with IBM to explore the implementation of blockchain applications. The goal is to fine-tune the entire food supply chain process to ensure the quality and freshness of your meats and vegetables.
Edge, a cybersecurity startup, is using the security inherent in the blockchain to develop applications geared towards creators who want to keep their efforts safe creative. With nodes on the "edge" of the network, the concept is that security breaches can be eliminated.
With the blockchain, marketers can take the next step towards personalization. Since blockchain can link all online transactions and behaviors with each customer, it will give the opportunity to create solid profiles that allow to personalize the offers.
With its enormous potential in marketing, the blockchain will help revolutionize the way marketers are implementing, consuming and understanding marketing campaigns in general, which can really help change the world of digital marketing as it we know.
