Blockchain digital marketing is in its infancy though parallels existing online marketing methods. Except, its decentralization and transparency. This offers several key benefits to advertisers, publishers, and end users.
Cryptocurrencies are the current, mainstream vehicle for blockchain. Yet, startups have intentions of real business models or solving specific problems.
Interested in implementing blockchain digital marketing tactics? Read on.
Blockchain Digital Marketing 101: A Crash-Course in Crypto Promotion
Permission marketing is an old but new concept. It's the openness of declaring intentions and 'asking permission' to market an individual. Blockchain, by default, creates accountability, reward, and improved privacy between parties.
In theory, blockchain marketing removes the intermediary. This allows companies to market directly to end users. The exchange eliminates the 'cut' taken by advertising channels. The end user receives the difference creating an incentive to engage with marketing.
Here are tactics for blockchain digital marketing:
Businesses bid to display ads on an advertising network. This pits business against business where the ad network wins. The end user becomes the product of the free service and endures ads by the winner of this bidding process.
Projects like the Brave browser, built on blockchain technology, would reward the experience. The DAT coin would pay users to consume advertisements.
Businesses avoid bidding and paying a "middleman". Users earn by opting for the ad engagement.
The current, best scenario for blockchain technology is cryptocurrency. This would allow peer-to-peer transactions without processing fees. The exchange would bypass payment processors and have incredible built-in security.
A business could leverage crypto acceptance as a selling point. Already, sites and marketplaces (like OpenBazaar) connect parties. The savings pass to the end users creating a pleasant experience worth sharing.
Anti-Fraud and Market Spend
Around $7.4 billion was wasted on fraudulent ad spend in 2016. This results from misrepresented engagement stats, fake clicks, and illegitimate video views.
What good is digital marketing if a significant part is faked?
Blockchain digital marketing would use a public ledger to verify data points. This would verify ad network stats and user engagement. The transparency would provide real data used to improve creative, copy, and campaigns.
ICOs and Buzz
There's no denying the crypto market is flooded with alt-coins. ICOs offer an easy way to raise capital for a businesses' blockchain adoption. They're known to generate interest spikes, too, as news spreads in crypto communities.
If marketing is about brand awareness, then an ICO makes sense.
Blockchain and crypto skirted mainstream appeal. Yet, it remains in an early adoption phase -- one where interested parties are tight-knit. An ICO and its whitepaper, Reddit board, and meetups fulfill marketing intentions.
On-going dev cycle and PoS (proof-of-stake) would receive coverage. This would create organic backlinks and brand exposure
Ready to Join the Blockchain Revolution? Discover IoT Solutions
Adoption is the center of blockchain marketing strategies. This would include end-user exploration of existing blockchain products and services. Or, integration of blockchain solutions into your business.
Want to leverage blockchain development for brand building and business growth? Get in touch and we'll help connect tomorrow's challenges.