February 18, 2019

About blockchain in marketing

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Blockchain technology is not only about cryptocurrency. According to an article  in Harvard Business Review (), possible blockchain influence on different aspects of marketing, advertising and business-consumer interactions will be tremendous. But only 8% of companies, according to the CMO survey, rated the use of blockchain as moderately or very important. The article also describes some implementations. Block...chain allows for near-zero transaction costs, even on microtransactions. It allows for motivating users to view paid advertising and paid emails, sharing personal information required for personalization and directly targeted to a company that is interesting to a consumer.  The user decides which portions of data and which options are worth activating when subscribing to email newsletters or signing up for a reward program. And the blockchain record approves any user’s action and consent (in compliance with the strictest GDPR rules). Many middle-size companies will become holders of enough actual personal data for their activity with consent from consumers. Facebook will not be the only giant source of paid personal data. Search advertising (Google) and advertising in social media (Facebook) will decrease their parts in global ad spending. This has already been shown in changing consumer preferences toward using Amazon and eBay aggregators. But blockchain and new methods of engaging users will make this faster. The additional cost for sending emails (and any other messages) and push notification will make spamming and phishing much more expensive and transparent (a person or company must be approved by blockchain), but it allows for keeping low costs for private individual senders. The monetizing of any online digital content (article, image, audio or video) by a small transaction for every click will be possible. And the recipient in this case will be a direct site owner and/or content owner. We should understand that these are only ideas now, but the technology exists, and it can completely change the habitual digital world.

https://hbr.org/2018/10/how-blockchain-can-help-marketers-build-better-relationships-with-their-customers

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