Blockchain technology has been taking over many different aspects of the business with incredible speed. In the beginning, it was tightly connected only to cryptocurrencies, but now it has become a solution to many problems businesses are facing. It proved to have the ability to make modern-day companies even more flexible to adjust to the digital age requests. It’s said to have many potentials for implementation in many sectors, from banking to real estate, digital marketing, and the healthcare system. No one will be spared.
The surface has just been scratched, when it comes to applying blockchain, but one area which can have many benefits from using it is business branding.
The success of each business depends greatly on successful branding. However, digital and online marketing generally has been facing many challenges due to fake news, clickbait content, plagiarism, and other things that influence the audience to believe in the content that’s being served to them online. Therealtimereport.com says blockchain can be a solution to this problem, completely change the way people see marketing, and many more things.
The application of blockchain in marketing is wide, however, this article will narrow it down to all the ways blockchain technology can benefit your business branding.
1. Ending frauds
This type of technology was primarily intended for keeping records of digital transactions. Once they have been recorded, transaction blocks are located in a chain from which they can never be changed. Thanks to the safety of the data and all the ways this technology has been safeguarding it, it could solve the problem of false news and information related to the brand or a company. If your brand has been involved in. This way the company team will be able to track down all the sources of the information very quickly, thanks to which the difference between true and false news and information will be spotted.
This means that all the people to whom this information relates can use them without fearing the fake news spreading. It will greatly contribute to the image of the brand because users will be sure they are safe.
Blockchain could also contribute to solving the problem of plagiarism, thanks to the detailed information it stores in its unchangeable blocks. Different authors will not have to spend their valuable time discussing copyrights, because blockchain can track down a complete history of the original works process, thus serve as evidence when double content needs to be removed.
2. It’s a media trend
Like we already mentioned, this technology is slowly finding its application in every business activity, but its most promising future application is in marketing. Marketing professionals today have started using this technology to stimulate buyers to view ads from their brand and engage in different ways, such as feedback giving, commenting, or tagging a friend.
You have surely seen the example of this on social media, where a company is announcing a giveaway if you tag two or three friends, like their page, and share their post. In this way, companies are skipping having to pay ads on social media. This way of directly interacting with their customers, and using blockchain, companies can create their loyalty programs. A possibility where consumers will be paid or awarded with something if they agree on “consuming” the advertisement enabled by this technology.
It can also perform the verification of how many ads have been delivered to the audience. This is important because many are already fed up with email junk, they receive daily from different brands, that further results in anger and avoiding the brand completely. The outcome is a decrease in sales.
3. Influencer control
The popular title of these people greatly influences the popularity of a brand. Influencers are all over social media and their impact on those platforms and branding is increasingly rising. Many of them have more followers than there are people in small countries. On the other hand, another trend is on the rise, micro influencing, whose application we have yet to see.
In the previous point, we mentioned that paying for the ads on social media, with the application of blockchain technology will be used less and less. Mostly because the clients pay for the ads based on the outcome expected. What influencers have as an advantage is an audience, they build around themselves and the brand they promote, engaging them in raising awareness campaigns. Since all these things such as awareness are rather abstract terms, and as a brand owner you can never be sure how many people have the awareness of your brand, blockchain can step in and help you.
They also talk about the numbers of followers, but the crucial thing to the brand is whether they are real or not, are they recruited or not. How can you double-check the successfulness of the influencer?
Well, so far, your business already aware that technology is based on smart contracts or codes. By using them and generating a couple of codes as a verification tool for each indicator given by the influencer you hired. With them, you specify your business’s terms and conditions, based on which your relationship will work.
4. Deciding on your target audience
Creating a branding strategy for your business greatly depends on choosing the right audience you will target. Deciding the audience that will be targeted is a tough task for the marketing team, and even tougher is to reach them when you already decide on their profile. Blockchain can simplify the process and cut the marketers from misery. It’s an absolute necessity for these kinds of tasks. Since the technology works on recording data in various locations, it can also point out the location of the audience. By collecting locations simultaneously, a certain type of audience tool is being created, directing you to people which you should target as your audience.
The vast and mass application of blockchain technology in business and marketing is the inevitable future. It will greatly simplify many complicated processes and contribute to the transparency and security of data.