So trust is really important for online businesses. With Blockchain, we will be able to believe ads. We will show you the best 9 Blockchain Marketing Use Cases!
9 Blockchain Marketing Use Cases:
- Global Credibility Score
- Royalty Program
- Gift Card
- Digital Identities
- Data Vendor
- Email Truesight
- Valid Brand Promises
- Valid Support Services
- Digital Anonymity
- “Blockchain Marketing Use Cases” – Summary
Global Credibility Score
So we all know brands like Amazon that are trusted third parties you can rely on. If you have a customer’s trust, there is a good chance that you can lock him onto your platforms. As a result, the customer won’t switch to other platforms thereby, making the platform gain power.
With Blockchain, we will have a global credibility score. Everybody can review a company and choose based on their score if the company is trustworthy. This transparency finally allows us to fully trust a company but it will also mean that companies must always behave in the right way.
Fake identities are also a big problem in today’s digital world. Some companies create fake accounts and try to cheat with fake customer reviews about the quality of a product. As a result, we don´t trust these online reviews and online companies. Blockchain will eliminate fake identities because there is a valid global online identification available that everybody can look up to. As a result, we can finally trust online reviews, because we can see if the review is valid.
A loyalty program helps companies to bind customers relatively easily through premiums or price reductions. That is particularly important when competitors offer similar products with the same quality. Therefore, loyalty programs are a reason for customers to buy a product regarding the benefits of the program. so customers are rewarded for their loyalty because they have repeatedly purchased from the same company and most customers love those programs.
So it is obvious that customers want to use loyalty programs. The problem is, that most companies can not implement their loyalty programs the right way. The reason for this are too complex processes or because customers are not addressed properly. Another problem is a low customer engagement rate. Collect the reward is usually associated with work that most customers do not want to make.
Blockchain can help companies to solve these problems. Since most rewards systems require different companies to work together, blockchain can help ensure that all parties work together on one database. As a result, processes are simpler and more efficient not only for companies but also for customers. In addition, smart contracts allow customers to easily cash out points or rewards on the blockchain. This can significantly reduce the effort for customers and increase their engagement.
For businesses, gift cards are a great way to bind customers to the company. They also lead to more money being spent. Almost everyone has used a gift card at some point and spend more than they should.
The problem with gift cards is that most customers don´t use them. In addition, there are more and more gift cards that offer a wide range of different product options, such as Visa’s prepaid card. So to remain competitive, companies must think about solutions in how and where gift cards can be used.
With blockchain, companies can access a shared database and automatically execute transactions with smart contracts without to trust each other. In addition, authentication can be automated and companies can reduce costs.
One of the biggest problems that online marketing companies have today are online bots that act like people. They distort the engagement and cause wrong statistics. Studies have found that up to 90% of all clicks on the internet are done by bots. This leads to companies making billions in losses through advertisement fraud.
Of course, companies are trying to develop solutions to detect these bots. But, unfortunately, the bots are also evolving. As a result, the internet can no longer keep up with the countless bots. We need a new, more radical solution.
Because blockchain is immutable and transparent, we can create digital verified identities. As a result, we can ensure that not only are the consumer interactions real but also that it is a valid user. This will change the nature of digital marketing at its core.
No matter which social media platform or search engine you use, your data will be collected everywhere. For companies, they are worth as much as gold. With this data, you can place customer-specific advertisements and much more. However, nobody has the power to control their own data on the internet. This is a big problem in today’s world.
With the Blockchain you can protect your own data and thus also your private sphere. You can then decide how much you want to reveal on the internet. You can also decide that your data can be sold. Today your data is used without you getting anything in return. But this can be changed with Blockchain. You can decide which data is sold. Therefore it is easier for companies to collect data and comply with guidelines and you get paid for it.
A lot of new ways to communicate have emerged over the past years. Among them are social media or WhatsApp text messages. Email marketing is a traditional way of communication but still one of the most effective.
The problem here is that a lot of emails are lost in a time of data overload. This is a big challenge for marketing.
Thus, today it is difficult to see how well a campaign has gone. Blockchain can help companies to analyze how effective an email campaign actually was. It can track the engagement of a customer and therefore, give a better insight into your campaigns. As a result, companies can target their audience better and save money.
Valid Brand Promises
Most brand promises aren’t true. You get frustrated about the product and probably never purchase it again.
Blockchain can reduce the uncertainty about brand promises. So it ensures full brand transparency and traceability. As a result, Blockchain can help to ensure that brands keep their promises.
Valid Support Services
We all know these companies that advertise an excellent customer service support. But mostly they aren’t that customer friendly.
With Blockchain technology, you will be able to see customer complaint rates, customer satisfaction scores, product defect rates, and delivery rates. If companies want to market something, it actually needs to be true. This will change the way companies have to market their services.
So in the past, brands’ success depended on how you present yourself. However, today, success depends on what you actually are.
Everything we do on the internet today is tracked by marketing websites. Every product clicked on at Amazon or every product that got liked on Facebook can be analyzed by marketing companies. There is no privacy on the internet anymore. Marketing companies are trying to use everything to get a deeper view of our lives.
With Blockchain it is possible to create anonymity in the digital world for the first time. Therefore, we can keep our data private without anyone else knowing what we are doing. As a result, nobody can collect our data without our permission.
“Blockchain Marketing Use Cases” – Summary
Blockchain will have a huge impact in the marketing industry. We will have full transparency and companies actually have to keep their marketing promises. When a company advertises that they donate money for a project, you can look it up in the Blockchain. That transparency will give us the trust that we are missing all the time.