The following is one vision of the near future.
BlockChain technology is an emerging field in the digital world that has been gaining attention from both consumers and marketers. The BlockChain essentially provides a way to create a decentralized, more secure network by which data can be transmitted without being intercepted or manipulated. This means that all of your information will stay private and under your control- as opposed to on other centralized networks where you have little say over how it’s used. For advertisers, this translates into increased accuracy of targeting and attribution measurement across channels.
In addition to the benefits for marketers, one of the most notable developments in BlockChain technology–cryptocurrency- is that it allows customers to be rewarded with some percentage of ad revenue. This means that you get a say in how your data is used and can share in profits from marketing strategies. The implications are huge: by giving consumers control over how their data is used, there may come a day soon when customers can “lease out” their data for certain time periods of the day, month, year, etc. Ultimately this is a win-win as more tailored and individualized messaging and marketing to the consumer will result in higher conversion rates for the advertiser.
It’s not only the implications for marketing that are exciting but also the security benefits. The BlockChain can validate data and ensures it is accurate with no tampering. This removes any doubts as to its validity or credibility of the information being provided. It’s a pretty safe bet that this will be an important factor in ensuring consumer trust in brands.
Blockchain technology has huge potential to change digital advertising and marketing by providing accuracy and transparency while granting customers control over their own data- all good things!
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