Blockchain technology has already gained much hype and popularity in modern day but entrepreneurs and marketing executives are still hesitant towards this new tech. Either they are unaware of the technology’s benefits or they are still in quest for concrete blockchain applications which are capable to address today’s problem and last late for upcoming ones. Immutability, one of the greatest propositions of this tech can be a solution to address the issues.
Convenience in Data Portability
Immutability allows the data within the ledger to remain unmodified and which permits advertisers to validate information and carry out post activity tasks with accuracy. At the fundamental stage, the immutability allows the portability of data to be each frictionless and reliable. The more data that advertiser’s companion will enter into advertiser’s designated blockchain, the easier for the advertiser to compare and switch its partners for advertising. In long run, this will be highly cost-effective and productive for budding businessmen.
Another profit of implementing blockchain application to overcome marketing challenges is transparency. Being immutable and open to view for all on the blockchain, it provides a transparent environment for both the marketers and their companions to track the transactions and deals made at the start of campaigns or marketing strategies. In today’s era, this is one challenge that is faced on both ends and often results to disputes. Once all costs and expenditures are decided at the early stages they can be stored in blockchain ledger and thus further result in better B2B relationships.
Ad fraud is a big billion dollar marketing challenge for advertisers and digital advertisement has made it more complex. Current Ads.txt is a solution to this but is not highly effective as ad vendors have been trying tricking publishers with the same. Ads.txt does not provide details about what type of inventory is the vendor authorized to sell which opens the possibility of a remnant to be sold as premium inventory.
Companies are striding to bring Ads.txt in blockchain creating more robust verification offerings. Blockchain applications are immutable and transparent which certainly will be a big measure for fraud prevention.
Trade of Advertisement
An interesting blockchain application could be buying and selling ads directly between publishers and advertisers or with the least number of intermediaries. Also, this will make it highly cost-effective for both the parties as buyers and sellers will outline their terms in the smart contract making it easier for verification and eliminating the fraud.
There are other profits of adopting blockchain technology and its applications which certainly could change the complete marketing industry. Blockchain applications are capable to streamline target audience improving the sales, decentralized storage allows data access to all, better and bigger data for analytics and many more to discover.