Advertising today is a multi-billion-dollar industry. And, according to market research company Forrester, digital marketing expenditures in the United States are on pace to reach levels near $120 billion by 2021. No wonder: Every day, companies like Google, Facebook and Amazon collect information about consumers nonstrop.
However, nearly 50 percent of all ad traffic is being generated by bots. Brands are paying huge amounts of money to reach potential customers. But this doesn’t give them any guarantee that those ads will increase sales.
What’s intriguing is that this scenario could well change once businesses have the ability to target individual customers directly.
Already, a number of technological advancements, like blockchain and smart contracts, are innovating the digital marketing industry to do just that.
I’m bullish on blockchain as an underlying technology that’s going to spur disruption in more ways than we can think or dream. That’s partly why I’m building an augmented reality platform that integrates cryptocurrency and rewards users for viewing augmented reality (AR) experiences. But, mine is just one simple use case.
What’s yours? Let’s look at how your business could utilize these innovations to more effectively market itself.
Direct-to-consumer digital marketing
Blockchain, the revolutionary technology that has recently taken the advertising industry by storm, allows information to be stored and distributed, but not to be changed or copied.
Because blockchain is a decentralized system, data stored this way has a high level of security. This technology is going to disrupt and overhaul the online advertising industry because it will negate the need for middle men. Currently, businesses run Google or Facebook ads, and both platforms make money off these ads. But blockchain companies, like BitClave, are focusing on search-data privacy, giving users full control over their data.
BitClave’s search engine uses Ethereum blockchain technology and eliminates the need for ad service people, creating a direct connection between consumers and businesses. This is the hallmark of blockchain technology: It eliminates the need for middle men in all transactions.
When users perform a search, they can select the amount of data they want to be released to advertisers. Then, unlike what happens with other digital marketing services, users can be compensated for their data. So, instead of an intermediary selling your data to advertisers, you’re selling it to them directly — yourself.
Read More: https://www.entrepreneur.com/article/304654