Blockchain has the potential to revolutionize digital marketing – offering better targeting for advertisers and increased transparency for consumers.
That’s according to Wayne Cichanski, iQuanti’s senior director of search strategy. Here’s Wayne’s take on what blockchain will mean for marketing in the not-too-distant future.
At its core, blockchain is built to enable financial transactions, but its applications for digital marketing are just as compelling. Blockchain will allow users to share their information securely, without worrying about the impact of bots or security breaches.
The adoption of blockchain will also enable much more granular ad targeting. Advertisers would no longer pay for low-quality or poorly targeted traffic. Overserving ads would be reduced, while better engagement data could be gained – all while building an authentication layer between user, advertiser, and publisher.
While better ads would certainly have positive implications for UX, the strongest marketing use case for blockchain is in micropayments. Today, users give away their attention for free, only to see it monetized by publishers and ad platforms. Cryptocurrencies would enable a world where users are paid to view ads.
This would lead to a better ad ecosystem for everyone involved. Advertisers would be able to demand better traffic, while users could choose which ads they see. Users may also choose to share more data about themselves for a micropayment. Some consumers may even decide that they are better served by sharing data with advertisers, as they would no longer be bombarded by irrelevant ads (as is the case today).
Ultimately, blockchain will result in a better user experience for consumers and better economics for advertisers.