Do Blockchain impact marketing and advertising?
When it comes to Crypto world, those with less familiarity with it may consider it only as a digital currency with no specific impact in other fields. The point is, a little learning about this active platform will bring you to its expanded world. Somewhere you can run an election with Blockchain, start a marketing method with Blockchain, follow the data with no worries, ignore fraudulence, and more.
Now, if you want to learn how Blockchain can affect a company’s marketing campaigns, it is necessary to have a clear view of the platform and system of Blockchain.
- What does Blockchain mean?
- How is advertising through Blockchain?
- What are the consequences of Blockchain in marketing?
- Pros and cons of Blockchain marketing campaigns
- Bottom line: does Blockchain impact positively in marketing and advertising?
What does Blockchain mean?
Blockchain mainly refers to a platform where people, with no need for brokers like banks, can transfer money from the smallest amounts to a bigger one! Maybe, that’s the reason this platform became popular all around the world.
Generally, if you ask anyone in any region, they might not know what Blockchain means, but they will mostly know Bitcoin! Therefore, we can say Blockchain is known by different ages and nations, however, not professionally. The question is, have you ever wondered why cryptocurrencies and their platforms are well-known?
Blockchain is undeniably safe! If you follow every step of it, there would be no loss, no fraud, and other risks in this platform. On the other hand, Blockchain is More profitable! From 2009 when the first time Bitcoin was announced as a cryptocurrency, up to now, big changes in its value have been recorded. Then if you are keeping crypto in your account, maybe tomorrow its value is double up! Bitcoin Method is the latest AI technology that enables all users, experienced or novice, to profit in the volatile crypto markets.
There can be various reasons for Blockchain’s popularity, but it is not our concern at the moment.
How is advertising through Blockchain?
Well, does anyone like fake data in their business? Definitely not, and Blockchain can offer the most accurate data of customer’s in a brand. If you also wonder how advertising is done through Blockchain, let’s review one example, a company that uses Blockchain technology to attract more clients.
Asian airline Cathay Pacific is a company that recently launched a marketing program based on Blockchain. In this method, customers, the contributors and partners, and even the airline will have a share of rewards.
Through the Cathay Pacific Blockchain application, you can see a campaign called “Unlock more miles,” which represents rewards for any application user who collects more miles on flights. It means the more flights with this airline, the more earning. The good point is that you can simply withdraw the money the next day and use it for booking hotels, receiving airport services, or even cashing it out.
Now people are eager to have more flights on this airline, and that’s why Blockchain can make a big change in your industry. (it was just an example of the wide world of marketing campaigns with Blockchain).
Currently, more than 200 companies use different Blockchain Marketing Strategies to achieve their target audience and goals.
What are the consequences of Blockchain in marketing?
Once you launch a marketing method based on Blockchain, you will bring the following values to your industry:
Just like the example mentioned earlier, rewarding your customers trick them to prefer your brand among the competitors. Besides, the customers can use this reward to buy services or products from you again!
Creativity becomes a fixed member
Nowadays, more innovative brands are more likely to be chosen. Currently, using Blockchain in marketing is still a unique and creative method, so why not bring it to the industry!?
Less human resource is needed
You don’t really need to hire a big marketing team to follow the progress. In fact, only a team of 2 or 3 can follow the whole data as most of it is automatically mined by the system and updated frequently.
Customers love to trust you
Blockchain is known to be one of the safest methods in collecting data. When customers find you value the safety of your customers’ data in your brand, they will be more likely to pick you in the whole market!
Target the audience correctly
As Blockchain in marketing means real-time and accurate data with frequent updates, you will always be aware of customers’ needs and behavior with new entries in the business. Therefore, you can target the correct audience and the right time with fewer efforts.
Omit the server structures
Fortunately, if you find it a disaster using cloud-based servers, the Blockchain in marketing offers you the methods that require no traditional cloud servers; rather, storing based on customer’s demand is possible. (sometimes fewer data and storage is needed, sometimes more).
Pros and cons of Blockchain marketing campaigns
So, if you care about (or you already had) implementing Blockchain marketing strategies in your brand, you need to know what values it brings and what shortages you may face.
- Accessing real-time, correct data.
- Strong impressions with the brand.
- No fake customers will remain.
- No marketers are involved, and you can directly impact the customers.
- Accessible anywhere anytime
- Targets everyone who likes Cryptocurrencies, regardless of knowing your brand or not
- Requires more investment to run Blockchain in advertising
- Requires too much energy
- Once 50% of the nodes are exposed, there would be no safety involved anymore
Bottom line: does Blockchain positively impact marketing and advertising?
Generally, yes! As for what comparison on pros and cons of Blockchain in marketing shows, the final idea is profitable for brands. Since it is safer and offers real-time data plus offering customers a profit, they would be more likely to pick your company. The only thing to obey in the whole marketing process with blockchain technology is to make sure everything is done correctly, follows your business guidelines, and respects the clients’ values.
Founder Dinis Guarda
IntelligentHQ Your New Business Network.
IntelligentHQ is a Business network and an expert source for finance, capital markets and intelligence for thousands of global business professionals, startups, and companies.
We exist at the point of intersection between technology, social media, finance and innovation.
IntelligentHQ leverages innovation and scale of social digital technology, analytics, news and distribution to create an unparalleled, full digital medium and social business network spectrum.
IntelligentHQ is working hard, to become a trusted, and indispensable source of business news and analytics, within financial services and its associated supply chains and ecosystems.