http://www.adweek.com/brand-marketing/3-ways-blockchain-can-boost-brand-marketing/
The first area where blockchain can help is with ad fraud. With stats that up to 50-60% of ad clicks are from bots and not actually humans, marketers can use blockchain to verify that the person clicking on an ad is actually a human which will result in increased ROI for brands.
The next application of blockchain would be in regards to user data and privacy. Blockchain could act as a digital rights management system that records in what instances users data can/can't be used. Users can decide to opt into those choices and can change their preferences at a later date if they are no longer getting value from sharing their data. This in my opinion is a big enhancement to how marketers approach user data right now in a binary fashion -- if you don't want to share information anymore then you have to terminate your relationship with the service altogether.
The last application of block chain is for customer identity. Especially in the B2B space it is often difficult for marketers to tie an individual to the company they work for. Using blockchain, marketers can identify individuals using a public key tied to a unique business identifier. This identifier will allow marketers to track the individual and buying behavior in the context of their business.
While all of these applications sound promising, I'm interested to see whether brands find the benefits of blockchain as outlined above beneficial enough to adopt and invest in this new technology.
Blockchain has become quite the buzz word lately and many have discussed how it will dramatically change how we do business in the future. While blockchain is still in its infancy in the marketing industry, it can provide multiple benefits if companies can figure out how to harness it.
The first area where blockchain can help is with ad fraud. With stats that up to 50-60% of ad clicks are from bots and not actually humans, marketers can use blockchain to verify that the person clicking on an ad is actually a human which will result in increased ROI for brands.
The next application of blockchain would be in regards to user data and privacy. Blockchain could act as a digital rights management system that records in what instances users data can/can't be used. Users can decide to opt into those choices and can change their preferences at a later date if they are no longer getting value from sharing their data. This in my opinion is a big enhancement to how marketers approach user data right now in a binary fashion -- if you don't want to share information anymore then you have to terminate your relationship with the service altogether.
The last application of block chain is for customer identity. Especially in the B2B space it is often difficult for marketers to tie an individual to the company they work for. Using blockchain, marketers can identify individuals using a public key tied to a unique business identifier. This identifier will allow marketers to track the individual and buying behavior in the context of their business.
While all of these applications sound promising, I'm interested to see whether brands find the benefits of blockchain as outlined above beneficial enough to adopt and invest in this new technology.
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