- Jul 27, 2021
A few hours ago, I was watching a video on YouTube. Just five minutes into the video and I was bombarded by two ads, which were completely irrelevant. Why the hell would a person like me who loves football would be interested in buying golf shoes!
Online advertisements are making our lives horrible. From social platforms like Facebook to small websites, you have to deal with irritating popups. Mostly, the promotions people get to see have no clue whether the audience is relevant or not.
Furthermore, online ads even collect your data without consent, which is quite unethical. This is because advertisers are aggressively pushing their products, due to high competition. This makes it crucial to come up with a solution. Otherwise, watching live videos would literally be unbearable.
Initially, I thought I would get a time machine so that I can go back and erase the idea of online ads. Sadly, this is not applicable to the real world. So is there any way to replace these distasteful ads? Well, I found something from the past. You might know it from the modern label known as “Blockchain.”
Yes, Blockchain technology can do a miracle in removing the distastefulness of online ads. To do so; first I want to give you an idea regarding how Blockchain is helpful in online advertising!
What is Blockchain Advertising?
A massive list of commodities/services is showering customers with online ads. This heavy rain is transforming into a storm, due to the fast-paced technological growth. However, we know that marketing was not always like that.
Before the invention of online marketing, producers had very less impact on customers. When there is no competition, only producing a “need” is enough to sell a service/product. If the competition is growing exponentially though, manufacturers realize that selling “value” is more profitable.
If producers are successful in creating that “value,” the chances of hitting the mother lode are high. For this, manufacturers adopt different ways to promote via online ads to please customers. This transforms the “selling” process more towards promoting the content aggressively.
This advancement in online marketing leads to force producers to create better products. Otherwise, they will not survive in such highly competitive markets. The world of online marketing has changed. Now, producers do not stop after selling their products.
They keep connected with their customers via social platforms to understand their “wants” and offer new products accordingly. This is how online marketing works nowadays. Due to highly competitive markets, these producers are overselling their products.
This is a fact that when you do more than required, you start destroying everything. This is how online ads are ruining our lives. There is only one strategy to advertise the product: push online ads aggressively without having any concern about a relevant target audience.
In circumstances like these, Blockchain technology comes in handy. For the ease of understanding, here I will provide you some core reasons regarding how Blockchain can be used in online marketing:
1. Blockchain has the potential to provide top-level transparency and security to all marketers. In this way, marketers, as well as customers, can easily identify fake or spam online ads.
2. Promoting and marketing products will be a lot easier with Blockchain since the advertisers know their specific audience. This will lead to a win-win situation for both sellers and buyers.
3. Blockchain will revive online target marketing by providing cost-effective alternatives. This way, small producers will have their say, due to equal opportunity for each producer.
The primary objective of introducing Blockchain is to guarantee the customer’s satisfaction. It has all the tools to make online ads great again. Not to mention, Blockchain even allows for the elimination of third parties and phony services from the marketing world.
How can Blockchain prevent distasteful advertisements?
Goodbye Fake Online Ads
Distasteful online ads are often the result of fake and cloned products. In the world of digital marketing, fake online ads are breaking copyrights. Due to no control of stopping these online ads scams, many renowned brands are losing their authenticity.
Small brands are suffering from not getting exposure, due to big sharks ruling the marketplace. With Blockchain, this detrimental online marketing can be revolutionized by merging with IoT devices. A combination of Blockchain and IoT will remove the concern of user’s data privacy.
By analyzing the data collected from the users IOT devices, marketers get a clear picture of who is their customer. This eliminates the aspect of distastefulness from online ads since you get ads only of those products that are relevant to you.
Moreover, with blockchain technology, it will become a lot easier to identify fake online ads. This is because when Blockchain is implemented, specific online ads are sent to a specific audience based on the data collected from IoT devices.
Online ads becoming increasingly irritating because over thousands of them are smashing on your screen on every website you visit. The other biggest reason is online privacy. The online ads that you see on the screen collect your data without any consent.
After what we saw this year regarding how online users’ data is used to control them, users are now taking serious attention to secure their online privacy. According to manufactures, they collect user’s data to make the users experience better.
However, you and I both know that is not true. This data is sold to third-party services, who then use the information for marketing or illegal practices. While it does help them analyze your behavior to find a product you are looking for, should your information not be private?
Blockchain resolves this online privacy issue by keeping things transparent when the technology is implemented in the marketing sector. All the user data will be stored in decentralized ledgers, which easily identify when there is a breach.
Definite Online Targeting
Lack of relevancy is one of the biggest issues of today’s marketing. Psychologically, it creates no customer value, which means the ROI will be poor too. This is the reason why ad-blocks are trendy these days.
Even personalized ads are not always successful in hitting the target, due to the lack of conscious user involvement with ads. Targeting an audience with the help of unsorted data is a waste of resources. In reality, we should obey the fact that the users are the owner of their data.
This way, advertisers will figure out other ways to target individuals with specific ads. With Blockchain-based marketing, decentralized networks are the key. Their systems are capable of running smart contracts and entertain the incentives mechanism.
They are also capable of starting decentralized cryptographic monetary option and secure all the data involved in the process.
Blockchain technology has all the potential to replace the distastefulness of online ads. It can revolutionize digital marketing by making it transparent and prevent the issues, regarding fake online ads and data theft. In short, Blockchain provides a self-filtering system of online advertisements. Unfortunately, big names of the industry are not very interested in the technology.
However, this does not mean that it is not useful! In fact, if you want to gain an edge over the competition, it is a great idea to use blockchain marketing. These solutions are perfectly capable of creating a win-win situation for both: sellers and buyers. In turn, you will play a pivotal role in testing the technology and paving the way for exploring this technology in aspects that do not necessarily involve cryptocurrencies.