Top 4 Benefits of Blockchain Marketing

In 2008, Satoshi Nakamoto exploited this notion to establish Bitcoin, a cryptocurrency that allowed anyone to conduct transactions without the assistance of a middleman such as a bank. Several cryptocurrencies, such as Ethereum, Litecoin, Ripple, EOS, and others, have entered the market over the last decade.

Blockchain is a distributed digital ledger that spans multiple nodes or computing devices. Blocks are used to store each validated transaction. The transaction data, a timestamp, and the cryptographic hash of the block before it are all contained in each block.

The following are four ways blockchain technology can help your marketing campaigns.

  • Cost savings

Considering blockchain is a decentralized, peer-to-peer technology, you can save a significant amount of money right away. The fundamental reason for this is that you are effectively eliminating third parties from the equation. In the name of fees or profit cutbacks, ad networks are known for burning a hole in advertisers’ pockets.

The use of smart contracts ensures that you only pay if the agreement’s conditions are followed. Without relying on middlemen, companies can interact directly with publishers, freelancers, external providers, or consumers and pay them. And, while there are some infrastructure expenses associated with blockchain, transaction costs are virtually non-existent.

  • Targeting Customers

It’s discouraging to observe the poor results of your marketing activities as a marketer. Blockchain and Crypto PR agencies can engage directly with the relevant message to the right audience by decentralizing the advertising ecosystem. Furthermore, because consumers are compensated for seeing advertisements, marketers can rest assured that they will get the greatest bang for their cash.

  • Efficiencies improved

Paperwork-related activities are inherently time-consuming and tiresome. Take, for example, invoicing processing. You must wait for payment after submitting an invoice. Furthermore, the use of a middleman causes the payment to be delayed.

This problem is addressed with blockchain, which allows transactions to take place in real-time. It is not essential to keep separate records because the information is accessible to both parties. Smart contracts, once again, allow for rapid payment as soon as the parameters of the agreement are met.

  • Building Trust Will Be Easier For Small Businesses

It can be difficult for a small business to stand out, especially if your field has established players. Many people are naturally apprehensive of companies they have never heard of, and the sale of low-quality goods is common on the internet.

Reputable businesses, no matter how little, will be able to swiftly create confidence with blockchain. You’ll be able to show them every stage of the supply chain and prove where your items come from. Customers will be far more eager to buy from you than your competition if they understand what you’re offering.

Despite its infancy, blockchain technology has already found its way into a variety of industrial verticals and departments, including marketing. We’ve explained Blockchain marketing in simple terms to give you a good knowledge of the technology and how it may be applied to marketing.

Marketers must assess and experiment with the many choices and use cases that we saw before to stay ahead of the game.

1 Like

This one turned out to be useful. I think I’ll send it to my colleagues, if you don’t mind.

I don’t understand what the point of blockchain marketing is. Of course, I may not understand a lot because of my ignorance of this topic in full. I have only a cursory knowledge of each type of marketing. Only once this topic interested me so extensively that I opened and read a huge article about the principles of influence marketing. This topic turned out to be useful for me, because after that I really began to cooperate with the influencers from Instagram. Perhaps someday I’ll be able to understand the topic of blockchain marketing. Your article, though, brought me closer to understanding this topic, but too remotely.

Is it possible to use techniques from this field in the field of online sales?

Thank you for sharing!