• Home
  • Contact us
  • Privacy policy

Affiliates Guides

Daily news, guides, tips, tools and more.

  • Latest News
  • Tips
  • Profitable Niches
  • Affiliate Networks
  • Product Reviews
  • Sales and Marketing
  • Guides
  • Tools for Affiliates

 

Thinking inside the blockchain: digital marketing 2.0

October 26, 2021 by Lachlan Feeney

Blockchain, after the global hype around it in 2017, went quiet but is now coming of age and is “getting ready to usher in a new era of digital marketing”, says Lachlan Feeney, CEO and founder of Australia-based blockchain consultancy Labrys. He makes a case on why blockchain could help in the future of marketing backed by some of its USPs: incorruptible customer data, real traffic and transparency.

Australia’s pandemic-induced digital transformation boom hasn’t escaped the marketing industry, even though digital marketing had a significant lead compared to most other industries. Not only have digital strategies revolutionised the marketing sector in recent decades, but every industry that relies on it, allowing brands to be more targeted and strategic than ever. However, accelerated tech innovation over the last 18 months and a new era of savvy, digital-first consumers present immense opportunities for the marketing industry to push the boundaries of innovation even further still.  

This year blockchain has stepped out from behind the shadow of cryptocurrencies, delivering on the hype that peaked in 2017. Blockchain is far more pragmatic and innovative than a cryptocurrency – its most famous use case – and is already creating countless innovations that are improving the way industries operate and businesses connect with their customers. Its potential to usher in a new era of digital marketing 2.0 is incredibly exciting. 

Blockchain has come a long way

Blockchain is an incorruptible digital ledger used to record transactions. Traditionally financial transactions – which is how it rose to prominence powering cryptocurrencies – but today almost anything digitally. It reached peak hype in 2017, but while the noise subsided publicly, behind the scenes the innovations blossomed, and the industry started evolving beyond its traditional association with Bitcoin.

In its simplest form, a blockchain is a form of peer-to-peer exchange which removes the need for a third party, like a bank for financial transactions. While we’ve still only seen the tip of the iceberg in terms of its immense potential, the technology already has numerous benefits, including security, transparency, and traceability. For marketers seeking to target the right audiences, reduce click bots and ad fraud, and provide more experiential experiences, blockchain provides many competitive advantages. 

How does blockchain fit well in the marketing industry?

While still a comparatively fledgling technology, blockchain has the potential to change the way businesses and consumers interact. By removing the intermediary between two parties – like, for example, Google between marketers and their customers – blockchain allows brands to go straight to source. 

Blockchain also enables the gathering of incorruptible customer data, creating and storing individual consumer profiles that allow for significantly more targeted campaigns. Marketers can encode NFTs (non-fungible tokens) – one of 2021’s defining social and technological innovations – with customer insights from CRM, such as age, demographic and spending habits and personalise each one with relevant information, content or promotions. 

For example, The National Retail Federation ran Project NGAGE, showing how gamified digital objects on the blockchain can ‘usher in a new era in retail marketing’. The project released hundreds of virtual butterflies and branded digital objects, bringing a virtual treasure hunt to life. Using mobiles, attendees could catch butterflies on a map or in augmented reality, which were redeemable for real gifts at a blockchain booth. 

Future of marketing

It has the potential to provide the ‘wow’ campaigns that marketers strive for and enhance the brand-customer relationship and experience; allowing both consumers and brands to maximise the value of their relationship. What’s more, the traffic secured can be verified as real people, not fake accounts or click farms, which keeps marketing costs low and engagement high.

Therein lies another significant benefit: transparency. There are long-term battles against fraudulent clicks, fake accounts and click farms in the advertising and marketing industries. So much so, that one in every five clicks is estimated to be fake. However, because a blockchain is an immutable distributed ledger that cannot be altered or hacked, it makes it far easier for marketers to discern real engagement from fake engagement. What’s more, blockchain can alleviate issues related to Intellectual Property by providing proof of ownership of an idea, campaign or piece of content.

For marketers – and, increasingly, consumers – few issues are of greater importance than data security – especially as our exposure to, and reliance on, the internet grows. Breaches are frequent and damaging, but the blockchain is far more secure than other record-keeping systems because each new transaction is encrypted making it safe from hacks. 

Through targeting and transparency, security and cost-efficiency, blockchain has the potential to usher in a new era of digital marketing innovation. While it may sound like a technology of the future, it’s already being leveraged by businesses in every industry, including marketing – where early adopters are getting a headstart on their competitors. So for marketers seeking to stand out from their competition and lead by example in digital marketing 2.0, thinking outside the box might mean working inside the blocks.  

Lachlan Feeney is the CEO and founder of Australia-based blockchain consultancy Labrys.

SOURCE: News – Read entire story here.

Search this site

Reviews

Best Top Paying Affiliate Programs For Massive Lifetime Recurring Commissions [2022]

10 Best Womens Patriotic Shirts Made In The USA [2022]

Free Clickfunnels Alternative Reddit [2022] Kicks Clickfunnels Butt And It Is Free

Jasper ai review [2022] best new mind-blowing review covers Jasper in-depth

How To Add A Featured Image To WordPress Blog Posts In Literally Minutes Flat [2022 Video Tutorial]

Fiera Anti-Aging Concealer Reviews – Is The Fiera Luxury Concealer Line Worth It?

Fiera Anti-Aging Concealer Reviews – Is The Fiera Luxury Concealer Line Worth It? [2022]

PowerXL Air Fryer Grill Reviews [2022] Is It Worth It?

How Did Pickleball Get Its Name? (2022) Pickleball History and Facts

How Long Does Cooked Crab Last In The Fridge? Questions Answers (2022)

Trends

affiliate affiliates agencies buying sites canada news case studies cbd news company news consulting content conversions coronavirus covid-19 crypto news economy news event news featured fmtc news general health health news hot topic keywords legal legal news merchant new client niches outsourcing performance podcast politics ranking real estate remote work retail reviews sales calls sexual abuse startups technology traffic training usa news world news


Sales

ACH Payment: What It Is, How It Works & How Much It Costs

Become a Certified Professional HubSpot Sales Representative

The 4 Best Responses to "I Need a Better Price"

Sales Resume Examples from Successful HubSpot Representatives

Product Differentiation and What it Means for Your Brand

Freemium Pricing: How to Leverage It & 4 Popular Models

A Guide to Fair Inflation Pricing

Contactless Payments: What Is It & Is it Safe?

The Ultimate Guide to Personal Branding

9 Ways to End Your Sales Presentation With a Bang


  • Facebook
  • RSS
  • Twitter

Guides

How AP’s Onboarding Process and Affiliate Academy Set Me Up for Success

Acceleration Partners Acquires Grovia to Expand Global Partnership Prospecting and Recruiting Capabilities

Employee Spotlight: Anna-Lisa Olf

Join Acceleration Partners at PI LIVE Advanced in New York April 2022

Must-Have Affiliate Strategies Your Brand Needs with iOS14.5

Partner Spotlight: Revolutionising E-Commerce via Seamless Checkout with Sleek

Partner Spotlight: Revolutionizing E-Commerce via Seamless Checkout with Sleek

Acceleration Partners Shortlisted for five Performance Marketing Awards

Why TM+ is the Cost-Effective Approach to Paid Search

A bespoke guide to partner activation

Niches

Semrush Review 2022: Details, Pricing, and Features

Semrush vs Ahrefs: Which SEO Tool is Better?

What Is A Feature Store in Machine Learning?

All Things You Need to Know About SEO Marketing Online

Top 15 Price Monitoring Tools for E-commerce and their specifications

How can Visualizations help you in Pay Per Click Advertising?

5 Actionable SEO Tips That You Can Use to Boost Your Content

HostArmada vs Top Web Hosting Platforms

How Does Your Business’s Marketing Strategy Affect Your Branding?

10 SEO Tips to Land Your First 100 Customers

Copyright for all syndicated content belongs to the linked sources.