Skip to main content

Block Chain in Marketing

Digital marketing Company in Coimbatore


BLOCK CHAIN IN MARKETING

Even in this modern era, people are reluctant to embrace change and they often see it as a burden, rather than an advantage. But in today’s digital age, this picture is beginning to change and people are adapting the changes. The latest technology that has evolved is the Block chain technology.

WHAT IS BLOCK CHAIN?

The recent sensation world-wide is “Bit coin”, which is the raison d'etre of Block chain Technology. Basically it is the brainchild of a person known by the pseudonym “Satashi Natamoto”. The important feature that makes Block chain technology a great success is that it allows digital information to be distributed and shared but not copied and hence the backbone of internet was created.
Now a days people demand for “digital truth”. The kind of digital truth that the Block chain provides is distributed, immutable and survivable. In block chain, the digital records are stored in a sequentially grouped dependent manner. Therefore, when we attempt to change a transaction in any one block will require altering all the subsequent blocks which is practically infeasible by design and will be computationally hard too and also another block will be added within minutes. And the concept of decentralisation or distributed database, in which information held on a Block chain exist as a shared and continually reconciled database which isn’t stored in any single location, therefore no centralised version of any transaction exists for a hacker to corrupt, so becoming inevitably fault tolerant, transparent and incorruptible. The use of this technology has taken roots in almost every field like crypto currency, insurance, banking, payments, energy sector etc.

HOW BLOCK CHAIN CAN BE USED IN MARKETING?

  1. Customer Targeting: Due to the transparency of Block chain technology, the middlemen in digital marketing will be removed thus enabling brands to better target customers.
  2. Privacy: Block chain gives control over how much the user wants to share their personal information. This will reduce the privacy concern from the user’s side thus encouraging advertiser’s social responsibility. Users will more willingly give their personal information if you ask them permission first.
  3. Influencer Marketing: Block chain will help to know if the influencer’s followers are real or just bots. This will reduce the number of influencers but will retain the high quality and genuine influencers.
  4. Transparent Advertising: Between advertisers and users, there are many middlemen. But this decentralisation will make everything transparent therefore there is no requirement of middlemen. This makes the marketing game just between the user and the advertiser.
Thus Block chain is not only used in crypto currencies but can be used in various other fields also. By including Block chain technology in digital marketing strategies, ads will become more powerful and profitable.
HIRE A DIGITAL STRATEGIST   GET A FREE ASSESSMENT REPORT  

Comments

Post a Comment

Popular posts from this blog

7 COMMON FACTORS WHY VISITORS LEAVE YOUR WEBSITE?

The whole point of having a web presence is converting visitors on your website into leads. To know why visitors are abandoning your website, you must first know the common factors which result in you further losing your leads. We have hence put together 7 key elements to ensure that you’re audience needs are catered to on a regular basis. 7 ELEMENTS THAT CAUSES PEOPLE TO LEAVE YOUR SITE WITHOUT TAKING ANY ACTION: 1. LACK OF CONTENT: The most important thing you can do when it comes to attracting visitors to your website is to provide high-quality and relevant content. There is no room for poor grammar, typo error or irrelevant content. Visitors will just switch over to another website that knows how to present a content which is easily understandable and relevant to what they are looking for. You could lose up to 44% on your potential customers for lack of content on your website. 2. NO CONTACT INFORMATION The most common mistake that business websites make is that ...
Post a Comment
Read more
UNDERSTAND CUSTOMER JOURNEY TO MAKE YOUR PRODUCT STAND OUT The key to make sure your product is different from all the other products in the market; you have to understand the human patterns. According to a recent survey companies that invest in understanding and creating a buyers journey map gained 54% higher returns on their marketing tactics. Although companies do not have the same customer journey mapping techniques, it ultimately goes down to 4 basic steps: Discover the phase in which your customer discovered about your product/brand. Consideration phase starts when your buyers start to research more about your products. Transaction step happens when your product has been purchased by your customer. The last step is called advocacy which happens when the customer recommends the product to other people because they love the product. Marketers have to constantly modify their views and assumptions and seek out new data to understand the customer’s journey in much b...
Post a Comment
Read more
IMPORTANCE OF MOBILE MESSAGING FOR AN EFFECTIVE MARKETING STRATEGY Mobile messaging is an attractive way through which business professionals exchange information using instant messaging via mobile devices. Although marketing via messaging applications was originated under social media platform, it has made its way to an entirely different platform of its own. The continuous rise in these messaging tools has opened up a pathway for low cost and high return channels to engage in more customers for B2B marketers. The wall street journal has given a new term to this form of brand and consumer communication called “chatvertising”. The only significant difference when compared to social media is, messaging apps have shorter contents that perfectly align with your brand strategy where as social media drives brand content to its customers. Keep in mind that while engaging prospects in a conversation it is important to personalize the conversations with them. Here are few sug...
Post a Comment
Read more