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What blockchain will bring to digital marketing in the CIS in the next couple of years

Taras Gorbul, founder and CEO of Superheroes marketing agency, talks about blockchain and heavyweights in digital marketing.

Let’s be honest, digital marketing of the CIS countries lags behind the opportunities and prospects of the Western market for at least 5 years. I can give you a trivial example. Only one company in five knows the cost of attracting a customer. Can you believe it? Even the very concept of “blockchain” ingrained into our communication only about four years ago, let alone blockchain technologies and their prospects in our marketing market. Anyway, they are coming! And the only question is who will be the first to step in. 

What can blockchain fundamentally do in marketing?

Digital marketing tools and resources face cyber threats, corporate secrets, and transparency issues at every turn. The more visible and understandable for a customer the brand is, the higher the authenticity and effectiveness of advertising campaigns, support from experts and the state, as well as customer loyalty are.

Digital sharks such as Google and Facebook present not only opportunities but also threats to many businesses precisely because of their market leadership. Needless to say about countless scandals with the leakage of personal data, contacts or financial information of users! As a result, both ordinary users and businesses cannot be completely sure of the safety of significant digital secrets. Just remember how surprised you were when you just thought (yes, indeed) about buying a new umbrella or hoodie, and advertisements of these things chased you on all sites. Mysticism? Actually, it is blockchain that allows both leaders and microbusinesses to operate more autonomously while maintaining the reliability and safety of products. How does it work?

Let’s look a little at the technical aspects. A key feature of blockchain is storing information in a chaotically distributed form on decentralized servers. The algorithm for assembling data into a single picture is, in fact, unknown to anyone, but it exists. And thanks to it everything assembles like a jigsaw puzzle. Hence, due to the lack of a single information center, there is no need to hang a thousand locks on the storage, as well as there is no point in waiting for attacks on it. This reduces the risks of data leakage several times, and the interest of criminals to hundreds of storages. How is this used in marketing in the Western market?

Working with brand transparency and visibility

Reliability and transparency of the company work is the main factor of brand trust as well as trust to all its advertising and other statements. If a company can prove in practice that all aspects of its work are transparent and reliable, it will literally hit the jackpot. So, the introduction of blockchain technologies into production processes will affect the marketing of the company.

For example, the German company T-Systems allows you to track the quality of products and production processes throughout the supply chain by distributing data using blockchain technology in databases that anyone can access. As a result, a retailer can check any statements made by a supplier: “We have made the shipping process two times faster,” “We use eco-packaging,” etc.

According to insider information, such brands as Unilever, Nestlé and McDonald’s have already implemented blockchain in their marketing and manufacturing processes. Watch out, fast food world!

We kill two birds with one stone: voluntary provision of information and conscious interaction with users.

Have you all heard about GDPR, HIPAA, PCI DSS, CCPA standards? So, the biggest task of a business is to learn not only to store but also to use data about users without any leakages and preferably without cookies. User identification using blockchain technologies is the best solution that is currently entering the market. For advertisers, this is an opportunity to receive information about customers not from the black market, but directly from users who provide it voluntarily. For users, this is a new, very profitable interaction system in exchange for bonuses.

For example, a web browser Brave guarantees its users the safety of information through encryption using blockchain technology. For advertisers this company has developed a model for receiving profit from user attention to content. Users in their turn are interested in such a model because they receive the reward with BAT (basic attention) tokens. Another example is the new search engine BitClave, which provides advertisements to those users who voluntarily gave their consent to this option.

By the way, this approach allows to avoid the global click fraud of the advertising budget by bots, which is 20% according to Clikfraud. That is, every fifth click is made by a bot. Moreover, on holidays every second click is by a non-existing person. So, thanks to blockchain, almost half of the advertising budget of the company can be saved.

Why technologies can reach us only after a couple of years. 

Blockchain opens huge horizons for business digitalization. This is both a reliable data storage, and more subtle and personalized advertising, which always hits the jackpot, and the reliability of the company reputation. But there is a catch!

Let’s face it, if you want anybody to visit your website at all (with blockchain technologies somewhere behind or without them), share with you personal information or cooperate with you, you need to simply take care of the functioning of the website. Based on user experience, for example, improve the design or download speed. And our heavyweights (not all, I agree) can now only receive orders such as “buy-windows-Kyiv-cheap-near-me”. Pioneers wanted! Who will be the first to step in?

Source: The Page

Author: Taras Gorbul, founder and CEO of Superheroes marketing agency

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