Image sourced from Pixabay, CC0 License
Cryptocurrency has set itself up in such an efficient way that digital marketing can take a quick lesson from the structure. With the way that cryptocurrencies like Bitcoin and Ethereum record their transactions and store their data, digital marketers can do the same things with ads and make more direct and more targeted ad campaigns that consumers can choose to see and have on their social media platforms. With so much still being learned and so much still being figured out, here is a quick glance at how cryptocurrency can reshape digital marketing.
The Ol’ Blockchain
The blockchain is at the core of how digital marketing can be changed. Normal data collection stores consumer data in such a way that advertisers can create campaigns based on what consumers are viewing online and what consumers are buying online. With blockchain data storage, information is stored in chronological order and more comprehensive to what people are buying and watching. There is the issue of privacy because in cryptocurrency, transactions are public knowledge and anyone can see them.
In digital marketing, ads can be made so specific and users can be asked whether or not they want to see the ad. If the user says ‘yes’ then advertisers have even more knowledge of what ads to create.
Once advertisers have their audience, they can then use social media to target more people. Ads can be set up almost in the same way as buying cryptocurrency in a market or limit order. In trading, the currency can be set to be purchased at the best value and sold as soon as it hits a certain limit. The same is with ads. Using social media platforms, you can have your specific ad reach out to millions of people to be seen, and if your numbers hit a certain mark you know you have content that works. If your viewership shrinks by a certain margin or percentage, you know to pull those ads. It goes back to the blockchain method where the data you will receive is so specific there is no room for error.
Bigger Pay Day
As the audience becomes more specific and your numbers and tracking become more specific the rate at which your investors will receive their ROI and the rate at which new consumers will be gained by the business will grow exponentially and more revenue will be created. For your marketing company, adopting these methods may help you get ahead faster in the growing and quickly changing age of digital marketing. If your company is able to take some of these ideas and successfully and ethically implement them into your strategies, your company will be the go to company for zeroing in on a specific audience so clearly that ads will have no choice but to be successful.
There is no way to predict the future. These methods of information gathering may not last, but it may be worth trying these methods to help make your business grow.