The chain of blocks will allow us to change hundreds of things in marketing. To start, licensing marketing software. In the not too distant future, it will be impossible to copy or use digital marketing tools without a license, since they will be marked with the blockchain and it will be possible to trace who is using them and from where.
Since the information is public access and does not need a reputable organization (the government, a consulting firm, etc.) anything that is signed with the blockchain can only be used for the purposes that the editor has decided to use. If for example, we sign that 20% of our budget is only spent on marketing actions, only those actions that are marked as marketing actions can be used. Everything that does not enter inside cannot be paid making this another way that Blockchain Will Transform Digital Marketing And Advertising.
In digital advertising, this will mean that only those users who are identified as, for example, women between 20 and 30 years old with university studies will receive our advertising, because their identity will be housed within the blockchain. It is not the only revolution that will make our lives change, and that is that if this technology is imposed, audits and other companies dedicated to the verification of our data will not be necessary.
A New Marketing Blockchain Mix
The crypto marketing also influences the marketing-mix program (product, price, communication, and distribution) with the arrival of blockchain technology:
Product: In the era of value distribution, one of the characteristics that products must have for them to be commercially successful is their added value, that is, what element / s differentiate them from their competitors and cause them to be sued in the market. Market. There are already several brands that have been encouraged to incorporate blockchain to their products to provide them with higher added value and differentiation. This is the case of the Volpone wine brand that has included a QR code into its bottles, with which we can know the whole process of that bottle of wine from its point of origin to its purchase. Also, Blockchain allows verifying the ownership of the products in the system to avoid any fraud.
Price: The disappearance of intermediaries, a priori, means a reduction in costs that can be translated into the market by a decrease in rates. To determine what will happen with the future prices of the products in Blockchain we must analyze:
1) The added value generated because this can be high and companies decide that prices remain or even rise.
2) Increase in marketing costs. We reduce costs on the one hand, but the need for information can be expensive to satisfy and, therefore, prices do not go down.
Place: The advertising sector will suffer a revolution since the blockchain has changed the rules of the game, the board, and the players. Now it is the companies that have to pay users to receive their advertising. The browser Brave, former Mozilla Firefox CEO Brendan Eich, is made with blockchain technology and aims to make the user enjoy Internet searches without advertising. They have also created a reward system in the BAT cryptocurrency (Basic Attention Token) for those users who are willing to receive advertising from individual companies.
Distribution: Blockchain also influences the supply and logistics chains. For example, IBM and Maersk have reached an agreement to develop a solution with blockchain technology in Hyperledger Fabric to provide transparency and security from end to end to the supply chain. Obtaining advantages for all partners with a cost saving in paperwork, reducing fraud and errors, streamlining operations and opening opportunities to more players in the global and cross-border chain. Some of the advantages of Blockchain in commercial distribution: saving time and money, reducing business risk, increasing confidence and transparency among suppliers, collaborators, and consumers and having ‘end to end’ traceability of the value chain, available for the participants of the value chain.
For Goodnoon, security is what consumers value most when it comes to paying for their purchases online. One of the fundamental characteristics of the Blockchain is the security it provides to users and the elimination of fraud so that the need for security in payment is satisfied by this technology. Also, Blockchain proposes a fast transaction system, making consumers who value “speed and comfort in the process” feel satisfied.