Simply inseparable: digital marketing and blockchain
No longer just a buzzword, blockchain has become a full-blown strategy for companies. Marketing and blockchain have joined forces and are revolutionizing how marketers work. Read on for some fascinating insights.
#Payment with blockchain
One of the main changes brought about by blockchain is that it offers more payment options and reduces costs. Companies can now accept Bitcoin payments and therefore appeal to a wider customer base. The volatility of Bitcoin also makes it an attractive investment option. What’s more, blockchain technologies can help reduce the costs of marketing campaigns by removing the need for intermediaries. The savings can then be passed on to customers.
#Transparency with blockchain
Another important aspect of blockchain technology is that it increases transparency in digital advertising. Advertising data can be stored on a blockchain in a decentralized way, meaning that the whole history of an ad is visible to all parties concerned. That makes the advertising ecosystem more transparent and helps combat fraud and misuse in the digital advertising industry.
#DMEXCO23 on demand: David Geisser, CEO and Founder of collectID, shares some fascinating insights in his lecture. Presenting the best case of luxury brand Maison Mollerus, he explores how modern technologies can be used to create a certificate of authenticity at the click of a button in order to verify that a product is genuine and of a high quality.
Transparency in the supply chain is also of paramount importance for e-commerce companies. Blockchain ensures that every step in the supply chain is recorded and easy to trace. That strengthens customer trust and enables companies to highlight the authenticity and quality of their products.
#DataSecurity and #SmartContracts with blockchain
Another advantage of blockchain technology is that it improves data security. By recording and verifying every transaction in a decentralized network, it makes it difficult for hackers to manipulate the data. That makes consumers feel more reassured when buying online and helps companies protect their customers’ data more effectively.
Blockchain and data protection: a blessing or curse?
As a promising technology of the future, how does blockchain fare in terms of the EU’s strict data protection standards? We posed the question to Dennis Kurpierz, Co-Founder and COO of legal tech company caralegal, who gave us an interesting overview.
When it comes to affiliate marketing, smart contracts – which are an important part of many blockchain applications – can prevent fraudulent activity and improve the tracking of clicks on the Internet. Smart contracts make it possible to set out contractual terms in an automated and transparent way.
#CustomerLoyalty with blockchain
Blockchain technology can be used to create token-based reward systems as part of customer loyalty initiatives, enabling companies to offer secure, transparent, and easy-to-redeem rewards to their customers and thus boost their engagement.
#DMEXCO23 on demand: Dr. Anne Greul, Co-Founder and CEO of Moonblock, delivers a keynote all about how global brands are leveraging the transparent and immutable nature of the blockchain to create innovative loyalty and membership programs. She focuses on how customer wallets serve as a treasure trove of insights into member interests and behaviors, offering brands a unique window into their audience.
At a time when data protection is becoming an increasingly important issue, decentralized identity verification is an additional advantage that blockchain offers. That is especially relevant for targeted advertising because companies can verify user information without encroaching on the privacy of individuals.
Digital marketing and blockchain belong together
In summary, blockchain technology opens up a whole range of opportunities in digital marketing: companies can process payments more efficiently, improve transparency in advertising, increase data security, prevent fraudulent activity, optimize customer loyalty programs, ensure transparency in the supply chain, and improve identity verification. Blockchain technology has enormous potential to completely transform digital marketing and increase efficiency, security, and transparency. #StayTuned #ThereIsMoreToCome