With blockchain technology already evolving the financial sector, it is no surprise that it would affect the marketing sector as well. In 2016 bots were the reason that over $7 billion in damages were caused to companies. Bots can be used to increase the number of clicks that ads receive so that publishers can increase the amount of money they can charge companies to place ads. Blockchain is transparent and encrypted, making it easier to tell if actual people see their ads, or if it is just a bot. Blockchain technology can help out many companies that are looking to use their advertising money better.
Target Your Audiences Better
With the ability to gather information straight from the customer, blockchain will be able to build profiles on their customers versus getting information from multiple different sources and needing to piece it together. By using blockchain, companies will be able to market their product to customer betters. Companies will be able to utilize individuals search history to target those who are going to be more likely to purchase the product. Blockchain will also help in being able to regulate ads that customers see. The optimal amount of advertisements that customers should be given is four to six. The technology can be used to ensure that those numbers are being hit for each ad. You won’t get ads for a product that you already bought, because they will stop.
Reduced Amount Of Fraud
As mentioned before, companies are losing money because of fraud. Through the use of blockchain, the publishers will become accountable to the numbers they are saying are being met. The advertisers are going to see where their traffic is originating, and the people that are viewing it. Bots will no longer be able to be spam advertisements falsely, and more importantly, the companies will get real numbers to see what ads are working for their company. They will be able to show that they are not wasting money and that it is helping the company in the long run. Companies will be able to tell what publishers are doing well, which will allow them to purchase more ads that are relevant to them.
Transparency Across the Market
Advertisers are going to be able to see if influencers have actual followers. If the influencers only have bots that like them they will no longer be used for marketing campaigns, while those that are being followed by real people will stay on. For those that use social media platforms as a career, that will drastically change the way they do business. For marketing teams, it will allow them to chose who to work with better. With the ability to see how many are viewing their ads, and click on them. Advertisers will also be able to negotiate terms with publishers better. They can get a better deal, and won’t overpay for the services that they are receiving. They will be able to see the results from their campaigns with actual numbers that are being produced for their companies campaign.
While not many can implement this technology just yet for their business, it will be reached in the future. Companies should be prepared for these changes. It will help save money, target customers better, and help business choose how to market.
Originally published on akashopaurora.co.
How Blockchain Will Change Marketing was originally published in Data Driven Investor on Medium, where people are continuing the conversation by highlighting and responding to this story.