BlockchainTechnology

Why We Need Blockchain in Marketing?

How to Save a Valuable Customer That Wants to Take Its Business Elsewhere?

 

 

 

 

How does blockchain help us in marketing?

 

 

Understanding marketing

Why We Need Blockchain in Marketing?

How to Save a Valuable Customer That Wants to Take Its Business Elsewhere?

Marketing is the study and management of exchange relationships.

It is the business process of identifying, anticipating and satisfying customers’ needs and wants.

Because marketing is used to attract customers, it is one of the primary components of business management and commerce.

Why the customer is a king in marketing?

It is true that Customers are considered to be the King of the market.

This holds true in today’s market scenario; Customer relies on Quality: You cannot give anything to your customer; for retaining them, you need to present them with the quality product.

The same is applied to today’s customers as well.

 

 Types of marketing strategies

Paid advertising. This includes multiple approaches for marketing.

Cause marketing links the services and products of a company to a social cause or issue.

  • Relationship marketing.
  • Undercover marketing.
  • Word of mouth.
  • Internet marketing.
  • Transactional marketing.
  • Diversity marketing.

 

Following are the different types of marketing strategies available.

Why We Need Blockchain in Marketing?

  1. Paid advertising

This includes multiple approaches for marketing.

It includes traditional approaches like TVCs and print media advertising.

Also, one of the most well-known marketing approaches is internet marketing.

It includes various methods like PPC (Pay per click) and paid advertising. 

  1. Cause marketing

Cause marketing links the services and products of a company to a social cause or issue.

It is also well known as cause-related marketing.

  1. Relationship marketing

This type of marketing is basically focused on customer building. Enhancing existing relationships with customers and improving customer loyalty.

  1. Undercover marketing

This type of marketing strategy focuses on marketing the product while customers remain unaware of the marketing strategy.

It is also known as stealth marketing. 

  1. Word of mouth

It totally relies on what impression you leave on people. It is traditionally the most important type of marketing strategy.

Being heard is important in the business world. When you give quality services to customers, it is likely that they’d promote you. 

  1. Internet marketing

It is also known as cloud marketing.

It usually happens over the internet. All the marketing items are shared on the internet and promoted on various platforms via multiple approaches. 

  1. Transactional marketing

Sales are particularly the most challenging work.

Even for the largest retailers, selling is always tough especially when there are high volume targets. However, with the new marketing strategies, selling isn’t as difficult as it was.

In transactional marketing, the retailers encourage customers to buy with shopping coupons, discounts and huge events.

It enhances the chances of sales and motivates the target audience to buy the promoted products. 

  1. Diversity marketing

It caters diverse audience by customizing and integrating different marketing strategies. It covers different aspects like cultural, beliefs, attitudes, views and other specific needs.

 

How does blockchain help us in marketing?

How to Save a Valuable Customer That Wants to Take Its Business Elsewhere?

Why We Need Blockchain in Marketing?

Blockchain is changing digital marketing by removing companies’ abilities to pull data from customers

without also offering to reimburse them for its value. … Another new technology, Blockstack, uses blockchain to “protect your digital rights”—creating a new type of network for decentralized apps.

Marketing has changed a lot in the past decade, but it’s about to go through another revolution while most of us associate digital marketing with things like AI and analytics, blockchain may be the most disruptive technology yet to hit marketers in every industry.

Blockchain is changing digital marketing, and you may be surprised who will benefit.

At its core, blockchain enables transactions between two parties without the need for third-party verification.

Most of the uses for blockchain have been around finance and crypto-currencies, but the underlying technology could be huge for marketing.

While AI and analytics have arguably benefited businesses more than consumers, blockchain may level the playing field by giving the power of data back to consumers themselves.

The following are a few ways blockchain is changing digital marketing for the better—and forever, moving forward. 

Why We Need Blockchain in Marketing?

Authentication and Transparency

In the past, people would shop everything from eBay to Craigslist to Whole Foods and hope—fingers crossed—that they were buying what was being marketed to them.

Was the item organic? Authentic?

Was it really grown or made in a fair-trade/fair-pay environment?

Or was it manufactured in a sweatshop powered by child workers?

Thanks to blockchain, consumers can finally know the answers to these questions and many more.

With the power of blockchain, companies are able to verify exactly where an item was manufactured or grown, what kinds of soil the items were grown in, or how much workers get paid to work there.

This is huge, especially in an era where consumers care more and more not just about the quality of what they are buying, but of the integrity of the company and processes creating them.

 

Freakishly Confusing Ad-spend

Unilever and IBM are on their way to clarifying the freakishly confusing arena of online ad spend.

As part of the project, blockchain creates a trusted and verified chain from the ad dollar to the end-user.

In the past, some 85 cents per advertising dollar made its way to the publisher. Today, that number has dropped to just 40 cents, largely due to the many intermediaries in the process. The project has already resulted in tens of millions of savings for Unilever.

On the flip side, it could also put tons of companies that have built their worth on verifying ad metrics out of business.

Blockchain is changing digital marketing in a disruptive way—potentially wiping out a whole new generation of companies built on its very existence.

Indeed, the real impact of blockchain in digital marketing is not just in the new use cases being developed.

It’s in how those use cases will impact entire systems that have popped up as a way to manage the digital marketplace.

In a time when digital marketing seems to be changing and growing by the moment, blockchain is changing digital marketing in disruptive, perhaps even irreversible ways.

 

What Blockchain could mean for marketing?

Blockchain technology can prevent the same display ad from being over-served to anyone, ensuring the optimal frequency of ad serving for each consumer.

Blockchain’s inherent ledger-based transparency can help companies build trust with consumers

Blockchain can make data-driven marketing more transparent by validating and analyzing every consumer’s journey through verified ad delivery, confirming that a real person saw the ad as per the specifics of a media contract.

Marketers will able to control how their assets are delivered by monitoring exactly where their ads are being placed, alleviating ad fraud from automated bots by ensuring that real followers and consumers are engaging with their ads, and ensuring proper ad engagement tracking that will lead to more precise digital attribution.

Companies are collecting more data than ever before, and are making significant business decisions based on it.

Of the 4 Vs of Big Data (Volume, Velocity, Variety, and Veracity), we have now seen ample evidence of the impact and importance of the first three.

A higher “Volume” of data has led to more efficient decision-making in numerous instances, such as in programmatic marketing and in banking.

Research has shown how leveraging high “Velocity” data — such as data from mobile devices — has unearthed knowledge that has helped firms better understand their customers.

The significant potential of high “Variety” data — data that is unstructured in the form of text, images, videos, and so on — to make better predictions has been documented in numerous academic studies. But what about issues related to the accuracy, reliability, and transparency of the data itself, which basically comprises the fourth V, “Veracity”?

In the field of data-driven marketing, an answer to addressing this limitation lies in blockchain technology.

Why We Need Blockchain in Marketing?

Conclusion

Blockchain can help marketers build better relationships with their customers

When targeting high-value customers, the incentives will be accordingly higher.

Blockchain technology holds the potential for societies to become more trustworthy and empowered, increasing visibility, connecting parties, and rewarding individuals for their contributions to transactions.

Blockchain brings trust, accountability, and transparency to digital transactions.

Also, a system built on the blockchain does not only take a longer time to process transactions, but also requires many more times the resources, such as processing, electricity, and data transfer

Marketers can leverage blockchain marketing strategies and its transparency to assess an influencer’s credibility and validate their followers and engagement.

This can also help you analyze influencer campaigns and identify conversion rates to link it to your ROI

Few outside the tech world are considering future applications for the technology underlying Bitcoin and ether. However, the technology is far more than just enablement for cryptocurrencies — blockchain represents a new type of protocol, a new way for individuals and companies to connect with each other and have greater control, transparency, and efficiency in all kinds of transactions.

The ability to assess genuine, on-ground impact is probably the hardest part of any marketing campaign.

customer — ‘trust’ and ‘loyalty’.

This is where blockchain, with its deep focus on transparency and the unchangeable nature of its foundational concept, makes a whole lot of sense.

Why We Need Blockchain in Marketing?

what is your opinion؟?

Just like the internet changed our lives a few decades ago, blockchain carries the potential to transform any transaction pathway — whether fiscal or human — purely based on the revolutionary nature of the technology at work!

 

ARANCO
ARANCO GROUPhttps://aranats.org/

 

If you want to trade with simple and accurate tools, please be in touch with us

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