Blockchain and Digital Marketing
Blockchain Digital Marketing is a term that is often tossed around but rarely understood.
Having thus said, here are few things that blockchain brings to the concept of marketing that makes it worthwhile to have moving forward. Here is the promise of blockchain.
1. Blockchain in Search Engine Marketing will eliminate the digital middlemen, for example Facebook and Google
2. Blockchain will help business owners to discern the validity of each click. "With blockchain, website owners wouldn’t have to go through the Google Display Network to find advertisers because each “user” would already be validated and verified. The advertiser would know that they’re paying for genuine clicks, and the site owner can trust that the amount they’re being paid is fair."
3. The blockchain technology is all about transparency. Everything is tagged and verified. Ideally, a customer could get a “behind-the-scenes” look of a retailer’s supply chain to ascertain if they can trust its ads or marketing efforts. For example, Walmart teamed up with IBM on a project to make their supply chain process more transparent. With blockchain digitally tracing where their pork products came from, starting at the retailer’s base in China, consumers got the proof needed to trust what Walmart was selling them.
4. With blockchain, the consumer’s data is purely under their dictates. Amanda Gutterman, CMO of ConsenSys gave an example as to how this is going to work in a recent radio show interview. She mentions that, when a brand approaches a user to subscribe to its weekly sales newsletter, the customer may ask for a price for using that information.
5. Stories entice people to products — Brands can use the blockchain technology to project themselves as 'innovative brands'.
Blockchain and Trade and Commerce
"The potential role of digital currencies and blockchain technology has increasingly become a hot topic in e-commerce and the wider digital economy, with an increasing number of financial and government institutions investing in research and the development of blockchain solutions."
1. Reduced cost and increased opportunity to make money—
Since the exchange of goods and money run through a complex network of vendors, including credit card networks, banks and payment processors, that could add up additional 7% for every online purchase. Blockchain makes it possible for reliable, quick, peer-to-peer transaction.
A startup Monetha has created an Ethereum payment solution which resembles a combination of PayPal and Trustpilot. This "The platform securely stores relevant information about a person or thing and lets you access it before initiating a transaction. That way you can evaluate how trustworthy the other party is in order to confidently meet your expectations."
Another platform based on blockchain technology NewMall, lets users earn tokens as rewards for shopping. Browser ads, promotions, and even product delivery are regarded as contributions to the ecosystem. That means that users become platform shareholders through their purchases, essentially transforming the relationships between the platform and its users.
2. Transparency, Speed and Security —
Trust is the key factor in trade and commerce. "Blockchain technology essentially decentralizes control and ensures that trust is achieved without the need for a centralized power." This means greater transparency and power to the consumer. Every action is recorded in the ledger, thus making data visible, "enabling every party to run its trade analytics free of charge."
With blockchain, payment, billing and processing happens almost in real-time. The decentralized approach disentangles the trade to a simple interaction between buyer and the seller, that is safe and secured. Even if the customer receives fake goods, it is tracked and recorded, thus preventing future business with untrustworthy sellers.
Blockchain Disruptors in the 21st century trade and commerce
Blockchain for the Pharmaceutical Industry — Blockchain technology to solve the global counterfeit drug problem, a $200 billion industry — that is the offering of FarmaTrust — digital services to create efficiencies and transparency for the supply chain, eases the burden of the compliance requirements, reduces costs and eliminates counterfeit or substandard drugs.
Blockchain for the On Demand Education System — ODEM holds the promise to deliver quality education at a lower cost, helping bridge the educational gap for millions of students globally.
Blockchain for the Accountants and Finance — By creating a real-time reporting protocol, Auditchain could, in theory, help prevent the next global financial crisis or corporate collapse due to fraud.
Blockchain for Individual Investors — CoinLion is the world's first cryptocurrency trading platform with built-in portfolio management, social integration, and token incentivization.
Blockchain for Influencer Marketing — Influencer marketing is now a strong business model that is becoming more and more popular. Patron will be connecting global influencers with brands in a secure and transparent ecosystem.
Blockchain for Photographers and Content Creators — Photochain is a new generation of stock photography marketplace enabled by blockchain and AI technology that, enables any contributor to have full control over the price, copyright and licensing of their images.
Blockchain for Video Marketing — BuzzShow is a video social media network which incorporates the blockchain technology in a reward-based ecosystem. The platform offers full decentralization and a unique social media experience to users who can earn the platform’s native utility tokens by creating, curating, sharing and viewing video contents.
Blockchain for Freelancers — As an IBM business partner, Boon Tech uses IBM's Watson AI algorithms in its ranking and review systems available on the platform.
Technology that small business owners and marketers should integrate in their processes.