Blockchain technology is relatively new yet has been around for years. It was first used in 2008 as the distributed ledger behind bitcoin transactions. Now, blockchain is slowly influencing different industries, from finance to e-commerce.

As blockchain technology is starting to broaden its application, it begins to find ways to provide solutions and improve businesses.

Blockchain is about to influence the digital marketing field and provide solutions that help small businesses and customers. How is this possible?

First, let us get to know the basics of blockchain technology.

What is Blockchain?

Blockchain technology can store multiple digital records in the form of blocks. These blocks are linked without a third party providing access to them. Storing data in blockchain makes it difficult or impossible to alter, hack, or manipulate.

It duplicates and distributes information across its complete network of computer systems. Each block on the chain contains different transactions, and whenever a new transaction occurs on the blockchain, a record of that transaction becomes part of the ledger of each participant.

Blockchain technology focuses on providing strengthened security for any data stored. So how can this technology help the digital marketing industry?

How Blockchain will Change the Digital Marketing World

Keep Track of Valuable Keywords

Marketers find it difficult to track trending keywords in their industry. They are not constant as the algorithm of search engines changes. In addition, as to why marketers find keyword tracking difficult, the presence of different devices and trying to determine if it’s a local or national search can pose a challenge.

However, blockchain technology can help marketers track these keywords effortlessly. A blockchain-based tracker may account for all of the irregularities marketers must presently account for when analyzing their efforts. In addition, it monitors keyword positions across all devices and in any place using this method. Marketers might then utilize this data to construct more precise and data-driven campaigns.

Gather Accurate Leads

Leads are crucial for businesses. They are potential customers who are just a step away from purchasing. Leads are consumers who show interest, so businesses need to value them and make it possible to reach out to them.

So how can blockchain technology find accurate leads for a business?

Leads are usually from data collected by marketers that originate from various sources, however, most of these data are inaccurate. That is when blockchain can help provide accurate data that marketers can convert.

Marketers can get sources directly from consumers, which provides a high ROI for their campaigns. Customers who agree to share their data with your company are typically already interested in your products or services. As a result, scoring leads and conversions will be significantly easier because you will have direct access to consumer base data.

Eliminate Click Fraud in Advertising

Click fraud is common in advertising, as marketers are well aware. The presence of companies like AdChain combats this with adChain Registry, a smart contract on the Ethereum blockchain. Since Adchains are on the verified blockchain, ad impressions and clicks are genuine. The company intends to address the lack of transparency and high levels of advertising fraud.

Customer Can Take Control

Advertisements can be annoying, whether they show up before or in the middle of content. People want to focus on consuming the content, and they do not want interruptions, therefore, they use ad blockers that prevent marketers from showing their ads.

Although it is an advantage for marketers to show their advertisements to consumers all the time, you do not wish your consumers to get annoyed. So, blockchain technology provides consumers with the power to take control of the content they can see. How is this possible?

Since most advertisements consumers receive are not what they want, blockchain technology will give consumers the power to charge companies before revealing their contact information. Companies who want customers to subscribe to their newsletter or gather contact information will need to pay consumers.

This solution gives customers complete control over who has access to their information.

Although this strategy may affect other brands, it builds trust between the customer and the company.

Protect Consumer’s Data

Currently, most businesses store information like phone numbers and email addresses on their server. This practice can put businesses and consumers’ information at risk of cyber-attack. However, blockchain technology will provide consumers with the right to their information. Therefore, instead of storing them, companies have to return the data to their customers.

Authentic and Transparent

Today, people want to know more about the product they buy. They want to know the source of the materials, the process of creation, etc. But companies don’t show that to customers, which can question their credibility.

Blockchain will give consumers access to intricate information about a product, such as the materials used, manufacturer, workers, and other information. By seeing how a business creates products, consumers will begin to trust a business.

Since most consumers want to learn more about a product and gain knowledge before making a purchase, transparent businesses are likely to make a sale.

A customer's trust can influence the purchase decision. Despite the majority of consumers using social media to guide their purchasing decisions, social media is still an underutilized element of the marketing process.

Businesses can preserve transparency in their operations due to blockchain technology. The data is accessible via an open network. As a result, consumers will have complete knowledge about a retailer's or distributor's supply chain. In addition, it provides how a business caters to social and environmental issues of current times.

With blockchain technology, customers can see each step, from the start of production to the delivery of products. This will hold companies more responsible and accountable for their acts since information is public. They cannot lie to their customers anymore.

Payment Method Liberty

Payment online happens via a payment gateway. The payment gateway collects information from the customer and sends it to the bank, which approves the transaction. However, payment gateways have some challenges, and there is a third party that processes the payment.

Today, companies are starting to adapt to alternative payment, which can combat payment gateways issues they are facing. Cryptocurrencies are becoming a common payment accepted online. Soon, physical stores are going to accept cryptocurrencies due to the demand and advantages it offers.

Strengthen Content Monetization

Content marketing is a digital marketing technique that helps businesses build brand awareness and drive traffic to the website. However, small content creators or businesses that produce content don’t get much, so blockchain allows them to receive rewards directly instead of through a third-party platform. The content creator or users are the ones who get micropayments instead of third-party platforms earning more.

Cheaper Ads

As there are no more third-party platforms or middle man, digital advertising reduces cost. Since the information in blockchain technology is reliable and accurate, marketers can use this information and create advertisements faster and cheaper.

Conclusion

Blockchain technology transforms the digital marketing industry by providing opportunities and making advertising accessible to small businesses. Blockchain will also provide security, transparency, and convenience to help businesses conduct transactions, deal with customers, and gain more in return.