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4 Ways Blockchain Technology Is Transforming Marketing

Think blockchain technology is only for NFTs in marketing? Think again. Here are three other ways blockchain is being used to transform marketing.

Publication date: August 5, 2022

(Image credit: Hitesh Choudhary/Unsplash)

The use of blockchain technology in marketing is increasing, and having the functionality of blockchain technology The 25 most popular skill sets in the United States.

Let’s start with the definition of blockchain. IBM“Assets can be tangible (houses, cars, cash, land) and intangible (intellectual property, patents, copyrights, branding). Virtually anything of value is on a blockchain network. It can be tracked and traded with , reducing risk and lowering costs for everyone involved.”

We will look at the four main ways blockchain technology impacts marketing.

Non-fungible token

The use of NFTs by brands to attract consumers is currently pretty common strategyincluding recent examples Under Armor collaboration Curry Brands and Coachella are using NFTs to offer additional perks to festival attendees. The latter is an example of how NFT marketing strategies are evolving from providing consumers with collectibles to providing value in their everyday lives. Annemarie Alcantara in the wall street journal.

B2B Marketing Startup go down It aims to help marketers transform their loyalty and rewards programs with NFTs.

“Thanks to blockchain technology, NFTs create a way for brands to not only incentivize users to rank up in the program to new levels, but also to actually value assets that they own and can later resell. To do. [NFT] Hang co-founder and CEO Matt Smolin said: CNBC.

to increase trust

Brands are using blockchain technology to increase consumer trust. The decentralized nature of this technology offers greater transparency as all data is public and each change in the chain is verified and tamper-proof. entrepreneur“Blockchain is not only a great investment for building trust with our customers, but it can also help protect our collective online privacy and reduce fraud and theft.” Bertram writes.

The technology can also provide evidence of ethical supply chain transactions and thus can be used to increase consumer confidence in brand messaging on issues such as sustainability. Werner Geiser for influencer marketing hub.

word of mouth marketing

Attrace CEO Erwin Werring explains in this article how blockchain technology is poised to transform word of mouth and referral marketing. Daily holdBlockchain simplifies reward mechanisms that brands can use to convert customers into brand advocates or to refer new customers. Marketers can consider using blockchain to drive word of mouth and social marketing with companies like Loyyal, Cryptibles and The Boomerang Project. Sam Daly for Built-in.

Ad viewing reward

Consumers are frustrated by the attack of digital advertising, an ongoing problem for marketers, but blockchain technology can be used to incentivize views with cryptocurrency or other rewards. . Werner Geiser I am writing. Brave is one browser that facilitates this interaction.

“This could be a game changer for phenomena such as: tired of advertising Consumers want to see ads directly instead of seeing ads every time they scroll down a page,” writes Geyser.

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