Technology is the most valuable asset of the 21st century. We cannot think of a day without the help of technology. If you oppose this statement, you have to look at your smartwatch or the coffee machine, or the phone/PC that you are using to read this article.
Are we not surrounded by technology and digitalisation?
Digital aspects have a strong bond with modern businesses, and thus we prefer digital marketing. On the other hand, Blockchain is the key to bringing the first digital currency to our planet. In 2009, Bitcoin was released to the audience to give a sense of digital currency, which is very famous nowadays.
From trading to transactions, everything you can do with the immediate edge, and this is very fast and smart as well.
Nonetheless, digital marketing is the obvious future of marketing and is still under innovation. Blockchain has the ability to consider digital marketing in a disruptive way to advance its steps.
What Are Cryptocurrencies?
Let’s understand the first gift of Blockchain, Cryptocurrency.
Cryptocurrencies are virtual money that is encrypted and cannot be forged or double-spent. Whenever you proceed with a transaction with Cryptocurrency, it will be recorded in codes. The open and distributed ledger is very much efficient in keeping your identity anonymous.
The decentralised nature of Blockchain does not allow any third-party involvement in a transaction process. Thanks to Blockchain technology, every Crypto transaction is recorded as codes, and the transactions will be accurate and visible.
Digital Marketing Today
In contemporary days digital marketers are using a shotgun approach to target a large audience. They decide the places and faces for promotional purposes and draw attention from the audience to increase the conversion rate.
On the other hand, private companies are using audience data to increase their sense of marketing. When you purchase products from a company, they use and initiate your data and also sell the data to other companies, and according to that, they understand your internet usage and credibility.
In this way, they understand your activities in the virtual world and give you suggestions to pair with your preferences.
In addition, the audience does not control their data, and they also do not get paid for the time they spend on the internet watching the ads and campaigns.
Crypto-Driven Digital Marketing
There are four particles involved in the modern digital marketing process. For instance, consumers, advertisers, content creators, and a host of platforms (like Google, Youtube, Facebook, et cetera).
Cryptocurrency will reduce the number of parties in this process to make it three parties with the help of Blockchain. For instance, the consumer (you), advertiser, and the Blockchain process will help the transaction process between you and your advertiser.
Instead of paying the publishing platforms, the marketers can directly post their content to the Blockchain platform, and from there, the users will get to know everything.
You will be able to understand the Crypto process with digital marketing better if you consider its advantages and disadvantages.
Benefits Of Crypto-Driven Digital Marketing
Let’s know the benefits of adapting Cryptocurrency in digital marketing.
- Easy location of services and goods through keywords when the ads will be on Blockchain.
- The conversion rate will be higher.
- Crypto transactions are safe and secure.
- Consumers can keep their data private.
- The direct process will help to initiate a quicker transaction.
- Boundaries can be mitigated through Crypto transactions.
- Low advertising costs.
Drawbacks Of Crypto-Driven Digital Marketing
Now, let’s focus on the drawbacks of adapting Cryptocurrency in digital marketing.
- Advertisers will only choose the Blockchains platforms that are famous.
- It will be difficult to collect data on the people and their transactions and activities.
- Companies will fail to generate their target audience as they will not know the intentions of the audience.
Final Note
When we are already in the middle of a technological revolution, we should continue to grow. If there are drawbacks, we need to consider those as the key obstacles of digital marketing and get forward with proper solutions.
Do not forget to reach us back with your valuable thoughts.