Blockchain is a technological tool that can be used to catalogue the transmission of goods, services, data or money. This technology is very secure, thanks to its encryption. If we identify this concept, we realise that it comes from English and means blockchain, which eliminates intermediaries in a transaction.
This blockchain eliminates intermediaries in a transaction. It is not necessary to go to a bank, because all movements are recorded in a database, accessible to all users who are part of it. A good comparison would be a digitised ledger.
One of the reasons for eliminating intermediaries is to avoid the process of checking and approving each and every input and output, thus ensuring security, because no one collects the data. There is also no room for a failure that could damage the whole system.
Although it is a concept closely linked to cryptocurrencies, its use is reaching all areas. With the blockchain, it is not only an economic revolution, but also a great change in other aspects. One of them is within digital marketing. For the blockchain to work correctly, there must be users, called nodes, a transmission and a message called a token.
- The nodes are in charge of validating the transactions. Each participant is in a P2P network in which each transaction is classified in a block.
- The information that travels encrypted and is grouped in the blocks is called a token . This information can represent any type of good, action or service.
In short, this technology aims to make us the owners of all our online movements and actions on the network, thus avoiding the process of verification and validation of each input and output, and maintaining the security that nobody collects the data.
how to apply it in my marketing strategy?
- E-commerce:
When buying products online, we trust that they will arrive without inconvenience. But we can become victims of fraudsters or hackers without being able to do anything about it. In many online purchases there can be that risk.
Blockchain technology improves the security of the online shopping process through e-commerce. The reason is that you can track your products from production to delivery. This means that users know the entire manufacturing process and thus avoid counterfeiting.
- SEO and SEM positioning:
Companies such as Google now act as intermediaries between advertisers and digital media. Therefore, for SEM actions, it is necessary to turn to Google.
Thanks to blockchain technology, intermediaries and dependency on them are eliminated, streamlining the process. With a decentralised network to manage these campaigns without intermediaries, users become responsible for verifying and distributing them.
- Online advertising
In this strategy, we know the importance of audience data to design promotions, and to achieve a greater desired impact by giving your audience what they want or need.
With blockchain you promote the democratisation of the Internet. In other words, every user becomes the owner of the data. In addition, you give them the possibility to choose not only the types of ads they would like to receive, but also how they would like to receive them. So with this technology you can limit intrusive ads.
Benefits of blockchain in your digital marketing strategy
Security: it provides trust and security during transactions. In turn, it increases the level of trust between the company and the customer, creating a bond of familiarity with the leads. In addition, products can be tracked, we can make sure that what we are buying is not a copy or counterfeit products.
More brand accountability: with this technology, contracts are automatically executed when both parties agree to the terms. When a company makes a commitment, all we can do is take their word for it. We had no choice but to hear it or have an expert (lawyer, notary, etc.) confirm it. However, thanks to blockchain and its smart contracts, this is changing. With blockchain, "company promises" are accountable and public.
More user control: users own their personal data on the blockchain. Therefore, if a brand wants to send a message, it must get permission. Users could set a price per transaction and brands had to pay. Current debates about blockchain and digital marketing focus on what users should do when they want to receive money in exchange for providing data or receiving advertising. In the blockchain world, it is natural for each user to own their own data.
Eliminate impersonators: surfing the web will be more secure. To use the internet, a unique and universal key or card will be used. This key replaces all previous keys used to browse banks, social networks and other personal data. If all this information were on the blockchain, it would destroy the anonymity of social networks (after trolls) and anyone who looks to others to attack their competitors.
In summary, while many of these examples are difficult and sometimes impossible to implement, they all point to the fact that blockchain has become an integral part of the digital marketing revolution.
It will significantly change the natural position of search engines and the position of SEMs, website advertising, e-commerce, the role of intermediaries, the processing of personal data of internet users and the way these brands interact with their consumers and customers.
It impacts the lifestyle of consumers as a whole, who enjoy greater security, privacy and a free environment. For all these reasons, blockchain will usher in a new era of consumer empowerment, linking it also to Human-Centric Marketing. As it seems that all trends point towards taking care of human values. People own their personal data on the blockchain, it will transform the interaction between consumers and customers.
Keep reading in our blog, all about the Blockchain .
