The blockchain technology can disrupt many sectors such as artificial intelligence, but it can also solve issues in other sectors. One area where the technology could have an immense impact is on digital marketing and advertising.
Blockchain technology could have a huge impact on the way online ads are purchased, delivered, measured, and valued. Another interesting aspect the blockchain is that the data on the ad tracking front would be more precise. There are many ways the blockchain technology can transform the marketing sector.
Cut the middleman
The middleman is part of the process and it has been since banks where created. When a company invests in advertisement, it only gets half of the value because of the intermediaries. However, a blockchain could solve this problem and give back to the founder because there is no need for a middleman.
In the financial sector, the banks are intermediaries which take a percentage of every transaction it processes. A blockchain could do exactly what banks are doing without taking away any value since it is a decentralized ledger.
With the blockchain technology, you can communicate directly with site owners when you need to publish an ad instead of speaking to them indirectly. The transparency provided by the blockchain is a dominant advantage. With click-through data, the blockchain can prove that its users are legitimate people. By doing this, the website owners and people invested in advertising no longer need to pass through a financial institution, which would increase the value they get for their investment.
Enhancing Consumer Trust
With online advertising, it is currently very hard to know the accuracy of the statistics. There is also the possibility that your stats are artificially embelished by bots or hired clickers, so their distributor can charge higher levels. The bots caused billions of dollars in damage in 2016.
However, with the transparency and the encrypting of the blockchain, entreprises can be certain that their campaign is worth what they paid.
Before, the way advertisers would obtain information on their customers would come from many different sources where you would get the information one by one instead of having the complete profile of the client.
The blockchain could revolutionize digital marketing because advertisers would then be able to create a customer profile directly from the client, which would make them gain all the information the customer wants to give in a single time. It would then be easier for companies to target the clients that are susceptible to buy their products. This will reduce wasteful expenditures.
Blockchain can disrupt many sectors of the modern technology. Banking, energy, Internet, artificial intelligence and marketing are only a few of them.
Many technology specialists predict that digital marketing and blockchain will work hand in hand in the near future. It is one of the ways it will make its way to mainstream adoption and public acceptance.