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5 Ways Blockchain Could Change the Marketing Industry in 2018
- Better Targeting for Advertising: Blockchain technology allows us to have greater records for any customer. This means that with access to blockchain technology, a company could have a ledger of all of the recent purchases searches and more than a person has made. The use of this technology could lead to improved advertising targeting and eventually even remove the use of various platforms like Facebook or Twitter as a means to target users and discover new data.
- More Transparent Advertising: Marketing claims will have to be validated and with the use of smart contracts, any type of retailer will have to deliver on their claims for anything that they plan on advertising. The ability to negotiate contracts as well as deliver immediate contracts will lead to more sales but at the cost of greater transparency for marketers.
- An Influencer will have to be better in quality: There are a number of social media influencers and individuals that claim to be well-connected, but when their account is checked more rigorously, the majority of the contacts they have are bots. Influencers in marketing campaigns for the future will have to be well-connected to a large number of people. The top influencers will be very much in demand, but this will shrink the total number of influencers for marketers to use in the future.
- Loyalty rewards and points can get more complicated: Using blockchain technology, marketers can use loyalty points like never before. Customers could have points automatically added and tracked as they travel, make purchases and more. Instead of having to carry a loyalty card, marketers could use blockchain technology and cryptocurrency to change the nature of any rewards offer for their customers.
- Greater Verification of Advertising: New digital advertising techniques can actually trace the origin of any advertisement data on the Internet. This will lead to better analytics on advertising delivery which can shrink the marketing budget and even eliminate the need for ad platforms like AdWords in the future. With software and new blockchain tracker adds in place, marketers can create their own advertising and then easily track it without the help of any backing platform.