Digital marketing is the process of informing people about your organization and its activities, using digital platforms, to increase your customer base eventually.
Blockchain is a disruptive technology that has transformed several industries. It is now revolutionizing the field of digital marketing.
We are living in a digital world, where almost everyone is active on some, or the other social media platform and are indulging in various types of online communication. In 2021, there are 4.48 billion people actively using social media in the world, Such an impressive presence of potential customers across digital media has created a sense of emergency across several industries and organizations to develop an excellent social media presence to increase their customer base. Blockchain can overcome the limitations of conventional search marketing. With blockchain digital marketing, reduced ad-fraud and accurate pay-per-click charges would be taken from the companies.
Blockchain Can Prevent Ad-Fraud in Digital Marketing
Economic losses due to digital ad fraud in selected countries worldwide in 2020 | Source: Statista
Ads are essential to organizations as they act as attention seekers on a website and can display brief information about services offered. When an organization posts an ad, Google and other social media platforms charge the organization for the same.
Ad clicks do not guarantee that the one viewing the ad is a human or not. This rang a bell of warning for organizations to act on this lack of transparency It prompted CTOs and CIOs to bring in technology that can help them ensure that their ads are being viewed by people who matter. In 2020, advertising fraud inflicted economic losses of 35 billion U.S. dollars worldwide.
Another reason for organizations to feel insecure is a recent finding that states bots operate 52% of internet traffic and therefore the need for blockchain in digital marketing is unavoidable. Blockchain provides a sense of security when it comes to assuring the validity of the clicks. With blockchain entering the search marketing application, companies can better view and verify that the website on which her ad is posted is charging her only for authorized clicks through the website. Online frauds can reduce with the help of blockchain being introduced in search marketing and increasing transparency.
The Use of Blockchain in Digital Marketing Promotes Transparency
Often lack of transparency leads to unsurity whether their ads are being viewed or not. Blockchain in digital marketing creates a database that holds the impression of customers and is available to all the participants in a digital marketing campaign.
Blockchain can even help companies in rewarding their customers for providing information that can improve company’s ad campaign. This reward system not only proves beneficial for organizations but also helps them in gaining customer loyalty and a sense of security that people will provide their information in return for rewards. Apart from rewards, blockchain can also help customers in keeping track of how their information is being used by the advertisers, thus improving transparency.
Even though blockchain digital marketing is an application that is yet to be explored, various organizations across the globe have already started to leverage it in their workforces. Blockchain and its applications have already proved beneficial for people. The transformation that blockchain is introducing in digital marketing promises to change the way digital marketing is currently being done.