In many respects, Blockchain will certainly shake up the way marketing used to work. Indeed, firms are now able to collect more information and data and as a result, their business decisions change and are more effective because of the rising volume of data available. Banking and programmatic marketing are a striking example of this shift. Moreover, Blockchain technology is depicted now as the answer to the problem of the lack of transparency. Now, firms are able to know where their dollars have been spent.
For instance, brand and advertisers have had a hard time because of the lack of transparency and responsibility. Ad fraud is ubiquitous and costs a lot to marketers: it is really difficult to be sure that the media has actually purchased the ads. Media agencies are not transparent and many frauds have been identified. As a result, major brands such as P&J have decided to cut their ad budgets. However, this situation is changing because of Blockchain.
Indeed, Blockchain enables marketers to have an eye on their money. Now, they can follow how their dollars are used and is been doing with their dollars: they know where the money goes and they can monitor things.
The mobile economy is also shaken. In fact, ads on the internet are not really effective to the extent that marketers know very few about consumers. As a result, there is sort of cut off between both of them: ads are not proper targeted and consumers seem to be more and more upset about that. Blockchain will be then the link between marketers and consumers. Marketers will be able to have proper information about consumers and then target them better. Optimizing ads is possible because of data quality given by Blockchain. Brands will have a better knowledge of their consumers and the latter will certainly be more prone to give personal information because brands can gain consumer trust by giving them a great value exchange. To sum up, Blockchain will help brands to build consumer trust.
Fraud verification will be easier, and the “media” middleman will be removed. Digital marketing but also marketing in general is going to live a shift.
