The Blockchain Technology Impacting Digital Marketing (Are You “Paying Attention”?)
Blockchain technology will impact digital marketing, and you should pay very close attention. This makes it essential for marketers to pay close attention to the blockchain innovations of the present, and future.
Blockgeeks CEO, Ameer Rosic, said that the revolution in cryptocurrency is not Bitcoin, but blockchain technology innovations. As a serial entrepreneur, my attention has been pulled in the direction of blockchain for this very reason.
Let’s take a closer look at how blockchain technology will disrupt digital marketing, the role consumers will play, and what new innovations are already in place.
Blockchain Technology Is All About Consumers
One of the most important ways blockchain technology will disrupt digital marketing is returning the power back to consumers. In fact, the blockchain-based protocols will impact the value of your future digital marketing campaigns.
“Blockchain will allow consumers to take control of the ads they see and, hopefully, give advertisers a modern, sophisticated means to producing high quality leads,” Brian Hart of Inc. explained.
How will these shifts happen? Enter the Basic Attention Program, or Basic Attention Token (BAT). BAT aims to eliminate middlemen, letting users regain control over their browsing history and personal information.
What is Basic Attention Token (BAT)?
Basic Attention Token (BAT) is a blockchain technology that eliminates the control middlemen have in the current digital marketing space. BAT is a token supported by BRAVE, an innovative browser launched by the creator of Firefox.
BRAVE will allow consumers to keep their personal information and browsing history secure. This gives consumers the choice of who can access their information, like marketers and/or brands for example.
BAT also allows marketers to attain far more accurate consumer data due to the paradigm shift from middlemen to consumer. Right now, digital marketing has too many middlemen. Their sole purpose is to compile and sell consumer data for a price. Unfortunately, this has led to inaccurate consumer data for marketers, and poor information security for consumers.
“Using ‘micro-currencies,’ companies will vie for actual audience ‘attention’ — not just imprints,” Daniel Newman of Forbes explained. “And they’ll be able to prove they’ve gotten that attention before the currency is exchanged.”
Let’s take a closer look at the current issues plaguing digital marketing today, and how Basic Attention Token can fix them for both marketers and consumers.
Digital Marketing Woes for Consumers
Currently, consumers are fed online ads based on their browsing history. Ever notice seeing an onslaught of ads for something you have recently searched for via Google? Personal information regarding purchases and search history is being sold for substantial profits.
This is a big problem for consumers. Why? Hackers! Hackers can use personal information and browsing history to create and serve up fake ads. This can expose consumers to online security breaches and malicious software, like ransomware for example.
The consumer issues that exist in digital marketing today can pose a big problem for your marketing campaigns. Not to mention that marketers are not seeing the ROI on the consumer data they receive from middlemen.
Digital Marketing Woes for Marketers
Many consumers are aware of the potential dangers that come with clicking malicious ads. This has made ad blocker programs more popular than ever. Over 600 million users have ad blocker programs. Ad blocker use also increased by 30 percent in 2016.
What does this mean for marketers? Ad blocker programs lead to poor ROI on digital marketing spend. They also make serving your ads to your target audience nearly impossible. So who is benefiting? Middlemen!
But middlemen are about to be booted from digital marketing very soon. Blockchain technology and the inception of BAT will change the dynamic, making everyone but middlemen happy!
BAT is the Future of Digital Marketing
BAT will change the landscape of digital marketing. It not only allows consumers to regain control of their information, but also gives marketers the chance to feed targeted ads to an interested audience with a satisfactory ROI.
What does the future of digital marketing look like with BAT? It will evolve into an opt-in ad system. Consumers can use BAT to choose who gets their information, what ads they will see, and have a more secure online experience free from malicious ad attacks.
For marketers, BAT will revolutionize the way they deliver ads. Instead of playing the numbers game with inaccurate consumer data, they can serve up ads to an already interested audience. This will have a huge impact on your digital marketing campaigns’ ROI.
How Exactly Does BAT Works?
Now that you know the why behind blockchain technology based protocols like the Basic Attention Token (BAT), it’s time to cover how it works.
BAT is supported by the Ethereum blockchain (ERC-20) and paired with the BRAVE browser. BRAVE is an open source browser that blocks ad popups and tracks malware. When it comes to digital marketing, it serves as a ledger system, calculating consumer “attention” to reward them with BAT tokens.
In the end, consumers keep their personal information and browsing history secure and receive BAT tokens based on their level of interest (attention). Marketers get a better ROI due to the qualified leads they serve ads to.
Make Your Digital Marketing Agency Crypto-Friendly
Digital marketing of the future will have some form of blockchain technology and cryptocurrency influence. It is time to think ahead by making your agency crypto-friendly. It is actually quite simple. The rise of cryptocurrency popularity has led to a number of online digital wallet platforms.
Here’s how you can begin accepting cryptocurrency for your digital marketing agency:
- Signup and setup an account on a cryptocurrency exchange or online crypto-platform.
- After your account is ready to go, generate receiving addresses for all the cryptocurrency you accept.
- Once you have a client ready to pay with digital currency, give them the unique receiving address for payment.
- After payment is processed, exchange the cryptocurrency into the fiat currency you pay vendors and employees with.
Don’t be shy to accept a few different types of cryptocurrency. As the crypto-market becomes mainstream, it could be worthwhile having a diverse cryptocurrency portfolio. This could serve as market capital for your agency’s future growth.
Making blockchain technology part of your digital marketing strategy could prove powerful. By adopting BAT and the Brave Browser, you can take your agency into the future of advertising. You may even be surprised on how many clients prefer to pay in cryptocurrency. How will blockchain technology improve your marketing agency?