In recent studies, 84% of global respondents cited word-of-mouth recommendations as the most trustworthy form of advertising.
This peer-to-peer form of advertising may be the greatest, but harnessing its full potential is only now becoming a realization thanks to blockchain technology. Up until now, the hard-sell was the greatest piece of ammunition in a digital marketing where it’s brand recognition that the modern consumer wants. The fastest way to build that link between customer and brand? Trust. With blockchain forming an integral link in peer-to-peer marketing, this is how this revolutionary technology paves the way for digital marketers.
Your Competitors Are Already One Step Ahead
One of the most impressive aspects of blockchain technology is its ability to be untainted. Because the technology relies on a series of blocks to complete transactions or instructions, there is no one person or institution that controls it. This means manipulation is tough and consumers are far likely to trust the untainted information on it. Digital marketers are already using this technology as there is no longer a need for the middleman, which would leave traditional digital marketing strategies out in the cold.
The Tracking Of Information Is Simple And Reliable
Anyone who has taken part in some form of marketing campaign or another has had to deal with the unfortunate fallout of unreliable information. There are no bots or intermediaries in blockchain that can fiddle with the information and cause instability. Just with the middleman out of the equation, marketing can finally be what it’s meant to be once again, and that is to get information to potential customers in the purest, fastest format. There is no potential to resell items as they’re stored digitally on the blockchain. This helps regulate the supply and demand, keeping prices reasonable and ensuring that the funds go to the right people.
The Opportunity For Collaborations Exist
There is nothing greater for a consumer than purchasing an item from a brand they love, only to have another brand part of the deal. Thanks to the inability to manipulate the blockchain, brands can rest assured that their collaboration remains within the parameters they’ve set for it. B2B marketing works really well when businesses strive towards the same goal and know that outside interference can’t influence the outcome of the campaign.
Although the continuously evolving platform for digital marketers can cause extra work, those who are willing to put in the hours will reap the rewards. Adapting, changing, and embracing blockchain will do more than open up the opportunity to be part of the cryptocurrency frenzy, as this piece of technology can be applied to a number of different digital uses, digital marketing just one of them.