Blockchain has brought a very interesting twist into how public data can be handled. Although it is popular in the financial sector where it powers digital currencies like bitcoin, ether, among others. On the other hand, blockchain and digital marketing have a better chance to be friends.
Blockchain, also known as Distributed Ledger Technology, is a technology which stores data on a publicly or privately available ledger that has no central point and once data has been entered into the blockchain, it cannot be deleted or altered in anyway.
The backbone of digital marketing lies in data. Without data, there’s no marketing since there is no audience to market to.
In digital marketing, audience data is equal to strength.
The strength of blockchain lies in securely storing data.
Below are the meeting points of blockchain and digital marketing.
General Data Protection Regulations (GDPR)
With the new European union regulations concerning how companies or individuals access and store personal information, digital marketers must have a way to prove that they legally obtained and are using customer information according to the set E.U guidelines. Failure to follow these regulations, a digital marketing company risk a fine equivalent to 4% of its annual GDP.
Using the distributed ledger technology, everything is engraved on stone, consent and usage.
With blockchain, everything is available to all who have access. With owners of the personal information easily able to access and trace how their personal information is being used will contribute to increasing the kind of trust you get as a digital marketer.
Plus, the information available on the blockchain is unalterable.
Increase quality of feedback.
For a complete digital campaign, statistics must be availed to gauge how far and who interacted with your ads. Blockchain will help online marketers to trace who interacted with their ads eliminating the possibilities of doing business with bots.
The blockchain wave is just kicking in and digital marketers will need to get on board voluntarily before circumstance force them to do so.
Courtesy: Cryptoline News