One of today’s most celebrated emerging technologies because of its wide potential in terms of security, transparency and collaboration, Blockchain has been gaining more space in different market segments.
In the marketing industry, for example, the decentralized record platform can play a key role, as it can bring a number of benefits to the industry.
Among other things, Blockchain prevents fraud; provides greater economic and data transparency; increases efficiency; and prevents discrepancies across the entire supply chain.
Check out below some of the advantages of working with Blockchain in marketing, according to the specialized MediaFem platform.
Despite the advances in the market and the technologies available to professionals, digital marketing still faces some challenges when it comes to transparency, quality standards, discrepancies between stakeholders, etc.
It is at this moment that the blockchain enters as an ally of the professionals of this sector. And there’s room to do much more: expand real business results; increase the efficiency, simplicity and effectiveness of the execution of marketing campaigns; and facilitate the accounting and payment of such activations.
Such a scenario is not uncommon: an advertiser wants a display campaign with 200,000 impressions. In the review of the reports, the purchase platform presents 208 thousand impressions; the adserver, 194,000; and the publisher says it was 212 thousand. This is because Ad Serving platform, purchase platform, and publisher count impressions separately. With the blockchain, this problem is resolved, since the public record of each transaction of the three parts is recognized to verify the exact number of delivered impressions. One company I know that is doing media supply chain validation using Blockchain is Fenestra.io
In shopping, there are intermediate companies between advertisers and publishers. In the digital world, ad networks offer groups of sites that have inventories and at the same time group (and manage) the advertisers who buy them.
With the blockchain, you can do a direct communication between both parties to verify ad delivery and automatically enable payment through smart contracts. So advertisers are sure to pay for the ads they show and do not pay intermediaries.
Consumers are increasingly aware of the implications of the privacy and value of their digital data, and want to participate in the marketing of such data. The blockchain technology and micropayments it provides provide the opportunity to reward consumers for engaging in ads, viewing creatives, or providing data or other relevant information – which is a compelling proposition in the adblocker era.
Although not yet implemented for this specific purpose, blockchain technology would allow users to sell their personal data. If enough advertisers paid for this information directly to users, and enough users opted for it, theoretically there would be no intermediaries and would improve the quality and cost of the information used.
Taking advantage of the blockchain to the maximum
However, for the technology to be used in its excellence, it is fundamental that the whole ecosystem is aligned in the use of this tool. The blockchain and related cryptographic technologies will address the long-standing structural challenges inherent in the adtech architecture – unlike the temporary solutions seen on the market today. Thus, marketers will reach consumers in more interesting and effective ways, as a new layer of technology architecture exists to support such conversations.
Also published on Medium.