Upcoming Trends for Digital Marketing
What are the future digital marketing trends? How it is changing and why it is changing. What are the upcoming trends for digital marketing?
Digital marketing is growing at a faster pace due to the rapidly evolving technologies and shift in user behavior. Google is getting smarter day by day using advanced algorithms thus making great impact on SEO. Email marketing industry is surrounded with lot of advanced software applications providing sophisticated features and easy methods to manage the subscribers. Social media began a way to connect with brands, complain, and shop influencing people in a number of ways.
Today, with billions of users on channels like Twitter, YouTube, Pinterest, FaceBook and Instagram targeted advertising and social media marketing strategies have become very important. With so many competitors out there, online reputation management and social media monitoring has become very vital for identifying and influencing the digital reputation of the brands.
In this article we will be focusing on how “blockchain” an emerging technology is going to impact the marketing and advertising agency. How blockchain technology will revolutionize advertising business.
What a blockchain is? In simple terms blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. It is like a public ledger that all of us can see and is shared among all its users. It is the world’s most popular digital wallet.
Blockchain based protocols will completely change how online ads are purchased, delivered, measured, and valued in digital marketing and advertising.
Following are some of the ways in which blockchain can contribute and transform digital marketing and advertising:
- Getting Accurate Data
All of us are aware of the term bots. These are software applications that perform automated tasks for anything we want on the internet. Reports show that more than half of the internet traffic comes from bots. It requires great effort to see one is not buying fraudulent traffic, and advertising is seen by real people and not bots. So if companies start using blockchain, it could help them get accurate data on the ad tracking front which can give better overall returns. It will contribute in giving more accountability to advertising.
- No Middleman
It will create “direct to consumer” digital marketing system. Using blockchain will help to eliminate the middleman of ad exchanges that can reduce the cost of advertisers making a fairer network to buy ads. Companies can pay their targeted audience directly to view their ads skipping the mandatory ad buy process that is prevalent today.
Using “micro-currencies,” companies will compete for actual audience attentions who are actually interested in their product and not just imprints. Blockchain technology will help in validating that they got that attention before the currency is exchanged. This will create a smarter spending system and connecting with potential customers directly without the help of any middleman.
- 3. Targeted Audience
We know that we are not getting real value for our money invested in advertising. Half of the money we spend in advertising gets wasted. Blockchain will make an open platform environment that can enable advertisers and publishers to find themselves and trade directly using the blockchain removing the middlemen.
With the help of blockchain, advertisers can directly build a customer profile from a customer depending on the amount of information the customer is willing to share as compared to the past where advertisers had to gain customer information from various disparate sources. This will helps us to create more targeted audience and spend advertising on only those customers who are more likely to buy our product.
- 4. More Transparency
Companies can use blockchain to show all details to consumers whom they are selling their data to. Blockchain is built upon technology where this information cannot be changed or copied. So the companies that use this technology to store their data can be guaranteed that their information will not be tampered with.
Today’s customers want transparency. As companies cannot manipulate their data due to the transparent nature of blockchain, this will make customers at ease and happy. Customers can be assured of that the data and information they are viewing is factual and accurate. This will boost the confidence of the customers in the companies and will help in building trust.
New technology doesn’t come with an ease, there are some major challenges like any advertising blockchain solution will need to deal with. Many experts believe that blockchain is not ready to handle the massive throughput of real-time bidding. Blockchain requires standards and in digital advertising it is little difficult to achieve. We still need some validations, more testing so that issues around trusting this technology get resolved. Some trust is needed to be built up before it is accepted by everyone. This may take few years but having a strategy already in place will allow digital marketers to be ahead of the curve.