Many Consider Blockchain’s Value in Finance, But It Also Benefits Marketers

Now used for various investment, operational, and transactional purposes, Bitcoin was created using blockchain technology, a decentralized, distributed ledger that guarantees secure transactions across a peer-to-peer network. The revolutionary technology has taken a life on its own, with governments, businesses, and other organizations actively using the data-management system because it provides security, immutability, traceability, and transparency, meaning it’s well suited for use cases challenging to support otherwise. The most notable applications of blockchain in finance include tokenized cash, supply chain finance, institutional trading, commercial bank payments, and capital market data, to name a few. 

Technological advancements, such as increased hash rates or enhancements in mining technology, can impact Bitcoin’s value, affecting its price trajectory. Developers strongly believe the blockchain needs further updates for new use cases. Among the ones under debate is OP_CAT, which will introduce added improvements for better coin custody for DeFi apps on blockchains like Ethereum or Solana. If you’re trying to forecast price fluctuations, check out the latest BTC prediction to make intelligent investment decisions. Getting back on topic, blockchain’s potential spans across industries – it’s grown far beyond its cryptocurrency roots, so it’s not just for tech giants and financial institutions. 

Blockchain Emerges as The Most Powerful Tool in Marketing  

Marketers are no strangers to digital disruption and see the newfangled world of digital as a game-changer, not a threat. Marketing has developed from radio and TV advertising, print ads, and direct mail to online content, PPC, email marketing, SEO, and other technologies that improve the quality of the output and, in the end, help generate more leads. Evolution isn’t over. It’s happening right before our eyes. Blockchain will disrupt the business landscape in the same way the Internet did decades ago, but at a more rapid pace, and its impact will continue to grow as the technology develops further. 

Blockchain can help brands create better customer relationships by only serving ads to people who are actually interested in their products/services, which results in a higher return on the investment. For businesses seeking a simple solution to pressing issues with real-time data aggregation, the landscape is ripe with opportunities, and the path to adoption is supported by the thriving ecosystem of experts and innovators willing to share their knowledge and experience. There are several ways blockchain can be used in marketing, as follows: 

Keyword and backlink usage and volume within website content are clear indicators of quality to search bots, which methodically index pages so that search engines can retrieve them on an as-needed basis. Users get different results on Google depending on location, personalization, and algorithm variations. It’s hard, if not impossible, to track keyword rank or evaluate how backlinks impact a site’s authority and rankings. Blockchain technology can improve spammy practices by making decentralized tracking available – in other words, it helps track progression, record information, and disclose previous records. 

Capitalizing On Smart Contracts and Tokens for Customer Loyalty Programs 

Rewards can take the form of free products, exclusive access events, awards, etc. Customers who join loyalty programs tend to spend more money with the business because they’re appreciated after their purchase; they are likely to buy again and recommend the brand to a friend.

Instead of loyalty points or gift cards, brands can leverage digital tokens recorded on the blockchain that can be redeemed for various benefits. NFTs create one-of-a-kind, undividable ownership for specific assets, creating scarcity that, combined with a sense of exclusivity, makes owning an NFT a memorable experience.  

Bitcoin provides the means for the creation and ownership of NFTs: the Ordinals protocol allows SATS in the blockchain to be assigned unique identifiers and exchanged with extra data attached (images, videos, audio, and even software files). The digital artifacts can be held in BTC wallets and transferred as any regular transaction. Bitcoin has smart contracts, but their functionality is limited because not all computations can be expressed – it’s called Turing incompleteness. Ethereum, the pioneer of smart contracts, streamlines loyalty programs by eliminating intermediaries (i.e., loyalty management services) and reduces administrative overhead, and developing a smart contract isn’t much more complicated than learning to code. 

Helping Influencers Be More Transparent and Trustworthy 

Influencer marketing can be the perfect tool for brands looking to build excellent visibility, gain more traffic, and increase sales, whether or not they have a brick-and-mortar presence. Billions of people worldwide use social media platforms like TikTok, Facebook, Instagram, and YouTube, looking to explore the nearly unlimited content options, so it’s harder and harder to reach consumers unless you’re an influencer. Blockchain technology is a game-changer for influencer marketing. Everyone can see exactly what’s happening, so people can once again trust each other, which makes the effort worthwhile. Blockchain facilitates the kind of engagement that allows content creators to craft deeper, more substantial contact with followers, even one-on-one. 

This list is by no means exhaustive, and there are other examples worth mentioning. Namely, blockchain technology can be used to detect fraud (suspicious behavior on websites and in campaigns) by analyzing first- and third-party data and unlocking deep visibility into marketing activities. Once potential customers are interested in your brand, all you have to do is capture their interest, which can be achieved through valuable content like blog posts or webinars that address their pain points. 

You’ll Be Successful Once You Understand The Status Quo Is Wrong 

Some advertisers and publishers are happy with the status quo – in plain English, the current or existing state or condition – and don’t invest too much effort in digital marketing, let alone say yes to blockchain technology. We live in a time of endless possibilities, so why settle for less? Blockchain technology, known for its crucial role in the cryptocurrency ecosystem, where it helps maintain secure and decentralized transaction records, can do wonders for the marketing industry, driving innovation and growth.

Blockchain marketing is still in its infancy stage, but it’s progressing rapidly in speed, making space for growth. There’s no better time than now to get started, so my question is, what are you waiting for?