Guest Column : Blockchain in Media & Advertising
Blockchain is one of the more exciting and a massive ledger of transactions, an open and shared database that operates in a decentralized network format. That implies a lot of information can be transmitted and included onto it without compromising security. It can’t be altered either destroy by a single person.
It has been established valuable across the finance for currency transfers and secure information applications as well in tracking objects, for example, Tuna to check whether if it was ethically fished. But its application to marketing indicates potential. It is likely best known as the technology underpinning bitcoin, however advertisers see possibilities for it beyond finance. Any transaction happens, everyone on the network knows about it. It’s a tamper-proof and virtually instantaneous. This has real disruptive implications for the financial industries, which today utilizes different processes to keep records for asset transfers and more.
Any potential use of blockchain in media & advertising is, as indicated by experts, at least four or five years in the future. Here are the four ways that figure the media industry utilize blockchain.
- Ad-delivery verification
Trust in ad industry is at a low point. Ads may just not seem to delivered or have a low delievery. While Blockchain could be used to detect whether ads are being delivered and if they’re going in the right direction. Decentralizing audititing with blockchain is less expensive, and can work better. A brand could take ad deliveries from an ad server, at than release them to the mining machines in the blockchain, which would then have the capacity to analyze them, which would have capacity to analyze them, and clean them for fraud. So easy “Footprints,” like a non-live browser supposedly observing an ad, can enable a brand to figure out if the ad delivery happened. While still in its infancy, the blockchain has immense potential to tackle the issue of ad-fraud.
With blockchain in marketing, one brand goes from being one of many to one of kind. The idea here is to use advertise a product in a manner that’s much more “authentic” way that does not show off as marketing.
For Example, any Fashion week event, it worked with an association with a blockchain platform, letting there customer verify a selection of hangbags. While it proves the authencity of the particular brand, here customers can easily use their phone and scan the tags on the product to find the details of the product like where it’s from and who previously modeled it and so on.
- Managing consumer data
In a time of privacy concerns, marketers use blockchain for the safe storage to anonymize large amounts of consumer data using it for brand-building. Most of the brands are now seeking for direct connections to customers and are very much intent on removing the middlemen when it comes to an important data. The blockchain is a way to maintain transaction data in a highly decentralized way so it’s both huge and secure.
- Conveying the right message
As the mass buyer’s information of blockchain technology is still limited, marketers should concentrate on practical benefits blockchain offers to consumers in their every day lives, not getting into the bare essentials of how technology works. Marketers need to use technology and convey the right message to their customers. The message should be unique, disclosing the consumer on how the technology functions, but rather how this technology will create more value for them and enable them to accomplish more. For example, your message to bank account customer should enable them to see how blockchain technology is giving them a chance to help farmers in Kenya to grow crops. The bank can show to its customers how they can help the group flourish by following their money end-to-end through the blockchain.
(Ashish Shah is the Founder and CEO at Vertoz. Vertoz is an Online Ingenious Ad network offering Innovative Contextual Advertising On DISPLAY for Page Ads, Margin Ads, Footer Ads & Text Ads, On MOBILE for WAP Website Ads & Mobile Applications Ads and On SEARCH (XML) for Domain Parking Ads, Toolbar Ads & Search Box Ads for Advertisers on Various Inventories of Publishers.)