How Blockchain Technology Can Benefit Marketing: Six Pending Research Areas

The growth of the Internet, along with emerging technologies, has made a substantial impact on the traditional marketing mix (i.e., product, price, place, and promotion). Likewise, retailers and online businesses are increasingly investing in social media as part of their marketing crypto marketing communications practices and attempts to outperform their competitors (Vend, 2018). In this regard, DeMers (2016) forecasted that the trend toward cyber shopping is likely to intensify with an increased future consumer propensity to engage in online shopping experiences.

So, essentially, the advertiser is paying users for their attention, ensuring that the ad budget is efficiently spent. From slow page load speeds to growing tired of ads ruining the web, people have different reasons for using ad blockers. According to a recent study by Neiman Labs , 51% of people note controlling their own internet experience as the primary reason for leveraging ad blockers.

Still, blockchain marketing could serve as the most disruptive technology to date for marketers. What’s more surprising, however, is to learn who the top beneficiaries are of this new technology—consumers. If you’re ready to get started today, we are the leader in both cryptocurrency and blockchain marketing. Set up your free consultation today and get your three-point marketing strategy laid out so you can see how we can help you. Interact with your customers, share this information, and then ask them to share it with their social circles online.

Plus, they have more than 1,500 websites that publish their stories in 30 different languages. So, they can really help to get your name out there and give your visibility a boost. Also, if you specifically https://www.linkedin.com/posts/anthonyjjday_blockchain-technology-management-activity-7038102637329682432-t2kx?utm_source=share&utm_medium=member_desktop need help with blockchain influencer outreach, be sure to consider them as their marketing partner. They can provide your access to 1,500 influencers with a total reach of more than 290 million followers.

• These tools serve to increase brand loyalty, reduce price sensitivity, encourage word of mouth, and enlarge their customer base (Uncles et al., 2003).
• One of the most exciting things about blockchain marketing is that it enables consumers to cash in on the value of their data.
• Furthermore, the improved visibility and ability to verification of compliance obligations alongside end-to-end product traceability could also deliver better transparency into how a business works.
• As blockchain marketers and investors, we’ve observed a few themes that permeate the tools, technology, and strategies that winning companies and decentralized autonomous organizations (DAOs) use to scale their protocol.
• Within this blockchain project, there is a verified and completely transparent chain for every single cent of advert spending down to the end-user.

With blockchain technology, brands and websites with available ad space can be verified automatically so they can work together directly without having a middleman inflate ad costs. With blockchain, companies will be able to get much more accurate leads because they’ll be getting the exact data from the customers themselves. As it stands now, users are bombarded with advertisements on nearly any channel they access. From television ads and billboards down the highway to social media and website ads, there are constant pushes for purchases.

In turn, customers are becoming an integral part of the evolving engagement dialogue and are strengthening their influence on the marketing process (Berman and McClellan, 2002). Unilever and IBM https://www.linkedin.com/posts/adamwester%C3%A9n_guide-to-starting-a-web3-community-from-leading-activity-6985349617693388800-Cyta?utm_source=share&utm_medium=member_desktop are on their way to clarifying the freakishly confusing arena of online ad spend. As part of the project, blockchain creates a trusted and verified chain from the ad dollar to the end user.

From ensuring you have an engaging narrative to mitigating risk, they will take care of all the key aspects of your https://www.linkedin.com/posts/lunar-strategy-nft_top-5-blockchain-advertising-agencies-lunar-activity-6991317226150596609-d5we?utm_source=share&utm_medium=member_desktop plan. Not only have they reached millions, but they’ve also completed more than 500 successful projects. They’ve worked with a few of the biggest crypto companies across the globe, helping them to raise investor funds, boost sales, spread the word, get users, and grow the online crypto community. As one of the top influencer marketing agencies, they specifically excel in influencer marketing and when it comes to creating NFTs they rely heavily on partnering with influencers. In addition to leveraging influencers to create more hype, their team will also help you to develop and nurture communities on Discord, Telegram, and other social platforms. The experienced and highly qualified team at ICODA has helped to market a wide range of blockchain-related businesses.

One of their core features that deserve special mention is their PR skills. For years, marketers have been tracking keywords to evaluate the success of their campaigns. Despite monitoring options provided by search engine operators, it has not always been straightforward to quantify the results of a campaign.

Here are some of the important ways in which blockchain could influence marketing for organizations. Consumers have long demanded increased transparency https://www.linkedin.com/posts/lunar-strategy-nft_top-7-web3-community-management-agencies-activity-6967795130082734080-4jXR?utm_source=share&utm_medium=member_desktop from their favorite brands. At the same time, they have protested attempts at greenwashing and other tactics that may garner consumer favor.

This knowledge coupled with recent data leaks has made users cautious when it comes to using social media. For more information on how blockchain technology can potentially impact the digital marketing landscape, here are some useful resources. In the previous example of eliminating middlemen, the natural extension means brands potentially pay users for their data.

In addition to a wide range of marketing services, they also offer various blockchain services for your business. NinjaPromo is a leading digital marketing agency dedicated to elevating your brand through multi-channel marketing solutions, branding and creative design. James has 15+ years of experience in technologies ranging from Blockchain, IoT, Artificial Intelligence, and Augmented Reality. He is committed to helping enterprises, as well as individuals, thrive in today’s world of fast-paced disruptive technological change. The internet provided the initial push for decentralization and offered drastic changes in the distribution of products and services by companies. New digital intermediaries replaced the traditional intermediaries by offering a wide range of services and solutions for modern commerce.