Technology

Blockchain in Digital Marketing: More Consumer Trust-And New Advertising Methods

Digital marketing faces concerns related to online activities such as cybersecurity, data protection and transparency. Blockchain helps strengthen customer trust in the digital world. You can increase the credibility of online advertising, increase brand transparency, support mutual promotion with influencers, and reward customers for data sharing.

Platform businesses like Facebook hold monopolies or duopoly, which poses a challenge for many market players in digital marketing. further, Data scandal I was skeptical about the digital advertising scene. Both users and advertisers find data management out of control. Blockchain provides marketing organizations with new options to operate more autonomously in the advertising market and increase the credibility of their products and corporate communications.

how? The main feature of blockchain is that it stores data on distributed servers in multiple locations rather than in a single centralized repository. These distributed data records (blocks) are inseparably linked to the chain. Every computer (peer) in the network receives the same copy of data that cannot be modified. This has the advantage of eliminating the central repository that all market players must trust. Therefore, it is not vulnerable to a central point of attack against cybercriminals or technical malfunctions. The principle is similar to online documents stored in distributed locations that can be updated across multiple computers at the same time. In digital marketing, this lays the foundation for a more transparent, secure and reliable solution.

Brand and product transparency

Sustainability is a defining element of all marketing agendas. Many companies claim to be sustainable. But how do they prove it?Blockchain technology can increase brand transparency supply chain management By the process, that is, by ensuring that the product is in sustainable packaging or shipping – two important criteria when the product is organic.

Therefore, Industrial control system (ICS, eg T-Systems) writes all the data to the blockchain, which is synchronized to all participants such as manufacturers, carriers, retailers, etc. This process allows consumers to obtain data about the origin and tracking information of their products.

In fact, Cloud of Things (T-Systems) and SCP (SAP Cloud Platform) cloud2cloud integration uses the Internet of Things (IoT), blockchain, and machine learning. Make smoothies (T-Systems use cases, pdf).. With the help of IoT data, supply data, and origin data, consumers can follow the path and origin of organic apples and see the brand’s value proposition in reality. This allows businesses to sell their products as much more reliable and sustainable.

Conscious data sharing and interaction

Another digital online marketing challenge is how to use relevant customer data without using third-party cookies. One possible solution is a GDPR compliant ID in the single sign-on process. Blockchain is ideal for creating them. The advantage for advertisers is that customers create their own profiles instead of retrieving customer data from multiple sources that they needed in the past.

Blockchain provides a framework for new interaction models.One example is Brave Web browser: Allows users to increase anonymity with encrypted connections. It provides publishers with a digital revenue model and allows users to reward their advertising content with so-called Basic Attention Tokens (BATs). This means that users can earn a BAT by focusing on the publisher’s content and use it to support their favorite content creators.Another example is a decentralized search engine and ecosystem BitClave.. This allows direct advertising with users who actively own and selectively share personal data. The outreach automation platform Snov.io has a similar concept for generating “better” leads. Customers exchange data for SNOV tokens, and Snov.io uses them to build a database of relevant high-quality leads.

Blockchain is increasing

So far, high costs, failure to achieve commercial viability of real-time apps, and lack of sector-wide initiative are (still) hampering widespread adoption. Some potential applications of blockchain are still relatively unknown, but they are beginning to change the digital world. Blockchain has the potential to increase the transparency, reliability and efficiency of the digital advertising ecosystem. It will be a competitive factor in digital marketing that advertisers cannot ignore.

T-Systems has already pioneered individual solutions to enable enterprises to start blockchain. Several pilot projects have been launched and sharing experience across the sector will be an important next step. Marketing organizations that want to stay competitive need to make sure they consider the process by which blockchain can be simplified or even monetized.

Interested in hearing major global brands discuss these themes directly?

Learn more about Digital Marketing World Forum (#DMWF) Europe, London, North America, and Singapore.

https://marketingtechnews.net/news/2021/apr/19/blockchain-in-digital-marketing-more-consumer-trust-and-new-ways-of-advertising/ Blockchain in Digital Marketing: More Consumer Trust-And New Advertising Methods

Back to top button