Implementing Blockchain in Targeted Marketing to Monetize End-users

Published: 2021-09-14 23:05:10
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Category: Marketing, Modern Technology, Technology

Type of paper: Essay

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The era of technology has changed our day to day business approaches creating a plethora of opportunities to enhance product marketing and advertising. However, the two terms may create similar ripples in the minds of different business enterprises. Businesses of nearly all sizes face a significant challenge to differentiate between the marketing and advertising campaigns. The burning choice to be made includes making a decision of opting for a strategic campaign or a mass directed campaign. Either of the options can prove to be useful in individual given situations.
Organisations can make a choice between the two strategies to conduct an effective campaign. Either of the options is valid for specific audiences, based on their preference and consumerism patterns. An effective plan will help you to drive sales and create leads for business. Each of these strategies can be explained as follows:Targeted Marketing: Targeted marketing is concerned with a specific audience differentiated on the basis of several profiles and personal parameters. This means users are selected on the basis of their own choices hence allowing enhanced flexibility and better resource allocation. The smart algorithms implemented to classify users are capable of efficiently dividing users and increasing potential sales. Targeted marketing also saves time and monetary resources by carefully advertising products to the relevant audience. Users can also use the automated tools to identify market trends and buying patterns of users. For example, someone buying beach shorts is likely to buy a sunscreen lotion. Smart marketing techniques help to realize these trends and capitalize on responsible consumerism. Marketing algorithms define unique value points that govern the trends and shifts among buyers. Overall this helps to create better buying experience for the consumer.
Mass Marketing: Mass marketing methods often cover a more extensive audience hence creating substantial costs and more significant efforts. The products or services possessing a broader appeal are suitable for this sort of marketing. For mass marketing methods, the aim is to reach out to as many potential customers as possible. The marketing strategy is suitable for creating a significant buzz in the market within a short period of time. Large scale marketing establishes a sense of credibility among the user thereby creating better sales opportunity for your organization. The strategy, however, is suitable for large scale organizations with big budgets for running a marketing campaign.
A blockchain structure is created using joint contributions of different nodes or systems that share their resources using a message passing system. This means the encrypted information is distributed to maintain the validity of data and create more natural alternatives to the existing centralized infrastructure. Blockchain networking solved the most significant challenge of security and concreteness by eliminating the requirement of a central authority. This means users can directly check, upload or pull information from neighboring nodes without depending on a central authority. Blockchain regulations are maintained by a general consensus created by electing fair and cumulative decisions.
A practical solution to the dilemma of choosing between the two is finding the right balance between both of the marketing strategies. But, it is easier said than done. Ideally, the targeted marketing system does look cost-effective and scientifically optimized. However, it does have several limitations for the long-term. To achieve a motivation of long-term reputation structuring, brands must opt out of targeting marketing and jump into mass marketing options to raise market buzz. This only means the more the people hold acquaintances with your product, the more they are likely to buy it next time they come across it. To achieve a universal goal of short-term performance and a long-term result, advertisers and marketer need to opt for smarter business approaches and marketing alternatives.
The perfectly balanced strategy does not aim to disrupt the traditional methods but strives towards creating quantitative returns towards data driven approach. All this must be conducted such that the initial objective of mass targeting is not lost. This means, targeted marketing must return optimal returns but should be used such that it is not confined to the niche audience. The marketing must explore potential consumers to expand the reach of the organization.
It is essential to keep up with changing trends and behavior of the audience. This has also created a significant impact on traditional production, delivery, and maintenance model. For example, the consumption of content has changed drastically over the recent years. Conventional forms of news media have lost credibility due to their clickbaity nature where they are often found to be addressing raunchy news to get public attention. Social media has also gained significant traction due to the changing trends among people. Social media platforms have turned out to be modern marketing platforms as they return high conversions and greater sales when compared to conventional options.
Another trend over these years is the mobile-first approach. More and more users have opted for the handheld alternatives in lieu of hefty desktops. This demand led to the creation of mobile friendly interfaces facilitating the same services over different gadgets and smartphone devices. The users can now browse content, stream tutorial videos, listen to podcasts and indulge in immersive digital experiences all with the click of a button. Blockchain support over handheld devices has generated the required ubiquity thereby enhancing the applications of the technology manifolds.
These advancements further brought dawn over changing consumer behaviors hence enhancing their expectations. Spams are defined as unsolicited commercial emails intended to advertise a particular product or service. These spams are often perceived as an annoyance. The spams have overall affected the idea of ease of use disrupting the original methodology of sending informative and coherent emails. The mail wasn’t created for unethical business promotions. The technology wasn’t designed for surveying or unsolicited messaging. The marketers, however, still unethically indulge into influxes of marketers and advertisers. Often the most significant setback is caused by organizations with limited experience that usually end up wasting resources of both themselves and their prospects.
Contrastingly, when an enterprise shows proficiency in work and shows consideration for client requirements by making extra efforts, the prospects show interest in the process as well. Blockchain networks have considerable potential to monitor and eliminate spam in emails. Take an example of a blockchain network that sets a particular price everytime you send a mail to an unknown contact. The filter automatically identifies blacklisted emails and generates automatic responses. The message monitor charges a small fee to let the message through. This method will consequently minimize the spam marketing culture significantly. The blockchain infrastructure will, therefore, benefit the end-users by creating marketing options where the consumers get rewarded for receiving marketing emails.
The platforms available in this domain currently serve the users in crypto coins only. These coins can further be exchanged into more straightforward options like other crypto coins or fiat currencies. This has created better infrastructure and financial freedom for users of the platform. The users can conveniently exchange for their favorite currencies, maintain liquidity or even build their own investment portfolio using the exchange services.
Another aspect of targeted marketing involves running email marketing campaigns. These provide a stellar infrastructure to monitor relevant statistics about the functioning and outreach of the marketing campaign. Blockchain provides a distributed network where each node stores data pertinent to information passed over the system. This arrangement is beneficial in realizing the potential of a campaign. The technology can be used to figure out the results of the given advertising, which includes social media hits, website clicks, or recommendations. The blockchain security will play an essential role in eliminating “bots” that are used to fake traffic on a website hence creating counterfeit views and misuse advertising expenses. A prominent example of this implementation is the Ad chain infrastructure that can create a trusted ad space where the campaigns are audited using secured cryptographic impressions. These impressions are used to track the activities and hence realize the effectiveness of these campaigns. In simpler terms, the platform will ensure that the investors and advertisers are getting appropriate services for investments in the marketing services.
The given trends are most likely to disrupt the market and create a new infrastructure for marketing and advertising. Blockchain has clearly developed unprecedented security and data storage system to ensure usage validity and actual transaction systems. The revolution will bring dawn that was overdue for a long time. It is time for marketers and advertisers to use these services and elevate their businesses to new heights.

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