Introduction To Digital Marketing And Blockchain
Let Us Get A Brief About These Two Terms –
When a firm uses mobile devices, social media, the internet, search engines, and other platforms to reach its target clients, it is known as Digital Marketing. It focuses on a specific segment of the consumer base and is very engaging. The trend of Digital Marketing is rising, including email ads, sponsored tweets, and search result ads. It basically includes anything that develops a two-way relationship between a consumer and the company. Digital Marketing is different from Internet Marketing. The former can occur via smartphone apps or video games, while the latter primarily occurs only online.
A blockchain is a database distributed across various nodes in a computer network. It is a kind of digital database that stores data. Blockchains are very popular in bitcoin, a type of cryptocurrency system. It plays a very important role in sustaining a reliable and decentralized transaction record. The most distinguishing feature of a blockchain is that it retains the integrity of data records and security. At the same time, it promotes trust without the inclusion of a third party. A blockchain is a technology that splits data and divides them into various blocks. Each block is composed of data collection. When the block is completed, it is shut down and attached to the previous block to form a data chain. The series of blocks is known as the Blockchain.
Blockchain is used in various sectors and fields. It takes seven days to finalize transactions through banks, whereas Blockchain can settle transactions within seconds. Advanced technology has made it very convenient to monitor supply networks. Thus, it is also utilized in supply chain management. It is also utilized to strengthen the copyrights for the downloads of the digital material purchased. Thus, it makes sure that the creator receives the proper portion of the content purchased.
What Blockchain Can Do For Digital Marketing
Improves Your Digital Marketing Campaigns
Blockchain helps in data transparency, interactions, and clicks, prevents fraud, and eliminates middlemen. It has now become feasible to connect marketers with merchants. The data that you receive from your campaigns in digital marketing services can sometimes be inaccurate. Thus, it becomes difficult to make improvements. Obtaining trustworthy metrics becomes possible by monitoring marketing campaigns with Blockchain. Top brands such as Unilever are using Blockchain to enhance their digital advertising successfully. It becomes easier to formulate effective digital marketing strategies when you get accurate data.
Prevention Of Fraud
A blockchain network permits documenting authenticated digital outlets, and testing substantiate advertising measures to prevent fraud. Only permitted stakeholders have access to these secured measurements. Frauds can happen in any probable area, such as digital advertising, ghost websites, bots, and click farms where fraud can happen.
When there is an involvement of a third party, it increases the risk of cybersecurity, data breaches, and human error. One of the most popular brands, Toyota, has been using Blockchain in their digital marketing to eliminate fraud in their digital advertising campaigns. They have seen a 21% improvement in their website visitor traffic by culminating Blockchain with digital marketing.
Helps To Build Credibility And Trust
The reason businesses prefer Blockchain is that it can securely verify, share, and store data across various parties. Thus, it eventually helps in building trust. Let us say that you are buying an organic jute bag. Blockchain will help you know the location of its product, the labor involved, and its working conditions. A consumer will have access to every intricate piece of information he purchases online. Access to such detailed data helps build transparency and credibility in front of consumers.
Blockchain especially helps small business owners struggling to build their brand image. When a consumer knows every little thing about their brand, it helps build trust. The information about where the product comes from and their supply chain builds consumers’ willingness to purchase them. When credibility and transparency in your business, it becomes easier to build brand awareness through digital marketing.
Boosts The Transparency Of The Brand
It is not possible to know if the statistics are accurate with the Instagram followers or site clicks in online advertising. Bots that are utilized to boost the ad stats artificially provide inconsistent results. According to research in 2016, bots have cost companies more than $7 billion worth of damage.
The transparency that is given through Blockchain for every product moving through the supply chain is absolute. A firm can save millions of dollars by determining that its ad campaigns are viewed only by its target audience. Companies can depend on their ad campaigns to give them efficient results. Thus, when a firm runs its digital marketing campaigns, it will help them achieve its goals.
Strengthens Monetization Through Content
When it comes to seo services in surat, content is one of the most vital components of the business. It is necessary to create solid content to promote your products and services. So instead of third-party content platforms, Blockchain allows streamers, bloggers, and consumers who create content regularly to get directly rewarded.
Many platforms are removing the inclusion of third parties by directly rewarding users with crypto micropayments for creating content. For example, platforms such as Steemit and PodMiners are using solutions of Blockchain to obtain compensation in the form of STEEM tokens and incentives.
According to a report, spending on Blockchain is estimated to increase from 1.5 billion in 2016 to 15.9 billion in 2023. There are many benefits of using Blockchain in digital marketing that every industry wants to take advantage of. In 2018, the financial sector alone had shown over 60% market value of Blockchain globally. If this trend continues, it is estimated that spending on blockchain solutions will reach a whopping $14 billion by 2023 yearly.