Living and thriving in today’s day and age as a business means being technologically inclined and relevant. This digital era has completely changed the face of marketing as we knew it, and things are rapidly developing and evolving. If you want to keep up, you have to move quickly. While all these changes have already been happening, and fast, it looks like there might be another major game changer with the late developments and growth of blockchain technology.
What is blockchain technology?
Blockchain technology was originally developed for digital currency, you may have heard of it as Bitcoin, or cryptocurrencies. It exists to contain and transfer various amounts of information, it can be thought of in a way as a shared and continuously moving database. It is virtually un-hackable and exists by the contribution of millions of computers simultaneously working together. Blockchain was designed with transparency in mind, with no accessible points of failure. It was created to remain unmanipulated. In all forms of digital information, blockchain can aid in providing a source or channel for transparent and “untouched” transactions.
So how is blockchain technology going to change digital marketing?
Although created for and largely associated with digital currency, the blockchain will be able to be used in multiple industries that have any sort of digital relevancy. This means that this technology will likely drastically change the face of digital marketing in Dallas, and all over, as we know it. So, the question is, how? Here are just a few of the ways that things are predicted to change.
#1 More efficiently targeted-markets for brands
Because of the transparent quality of the blockchain, in the beginning, it will help the growth of trust between brands and consumers. Blockchain has the potential to remove certain middlemen in digital marketing.
#2 Privacy concerns will decrease and advertiser trust will increase
While more people will have more control over their privacy and personal information, they will have less to worry about in terms of that privacy and therefore advertisers will not have to stress as much about that currently inevitable aspect.
#3 A redefining of the marketing and advertising industry
While marketing and advertising companies are already beginning to emerge in the blockchain arena, their focus is to offer a new kind of “credit system” for the link between the consumers and advertisers.
#4 Growth of the fraud verification industry
While blockchain illuminates transparency, it will directly affect the issues of online advertising in terms of bought and delivered media. It is predicted that fraud verification companies will use blockchain technology to decipher a plan in stopping bots and fraudulent-gurus from stealing the value of someone else’s bought advertising space.
#5 Higher transparency with advertising
Companies will have more access to a better understanding of the data and the outcome of their ads. This transparency will lead to lesser schemes by certain companies compiling and claiming false marketing success in numbers. Claims will be easily analyzed and confirmed.
#6 Fewer influencers, higher quality
Influencers have taken over the digital advertising world by a storm and quite quickly. With blockchain technology, marketers and companies utilizing those influencer’s “influence,” will have the ability to see for themselves if an influencer is an imposter (with bot followers) or if they have real and demographically-relevant followers. This will lessen influencers in number, but leave true and high-quality influencers at the top.
While blockchain technology is changing cyberspace as we know it, it is important to make sure you keep up. As marketing in Dallas changes, so should you on how you go about your businesses’ online existence. As an experienced and trusted digital marketing company in the DFW area, here at Tech Critic we can help. If you have any questions or would like to schedule a consultation, please don’t hesitate to contact us today.