How Blockchain Technology For Advertising Helps Marketers Monetize Better
The advertisement industry has long debated over the most effective ways to conduct a campaign. Mass marketing is a strategy used to reach the maximum amount of potential consumers. While this type of campaign is effective for companies that want to spread their message as far as possible to a variety of demographics. The downside, however, is that the message must be dumbed down significantly, and its reach must be made brief.
On the other hand, targeted marketing attempts to respond to specific groups of potential consumers. Rather than sending out their message to as many people as possible, targeted marketing strategies define, profile, and target specific audiences that are the most predisposed to be interested in the product or service being marketed. While this method sends the advertisement out to a smaller audience, the message is not diluted and the conversion rate is typically higher, on average.
For companies looking to use their resources as effectively and efficiently as possible, striking a balance between these two opposing strategies is an important process. According to experts in the field, the balanced approach works to integrate the disruptive qualities of mass advertisement with the data backings of a targeted marketing approach.
Blockchain Advertisement Companies
As blockchain technology continues to develop, it is being integrated into the advertisement industry at alarming rates. BitBounce is among the first blockchain-based advertisement processes to be used by the masses. The BitBounce system compensates users for their attention in viewing targeted advertisements by implementing a complex token economy using the cryptocurrency known as Credo.
For every advertisement sent to the email of a consumer, there is a payment of Credo sent as well. From the user-end side of the process, this is an important step in returning incredibly important autonomy of information to the consumer, who has control over when and how they distribute their ad-relevant information to a variety of companies.
But for the cryptocurrency-savvy marketing team, the impact might be even more pronounced. The technology is being used to verify the authenticity and effectiveness of the advertising process, tracking and relaying real-time information regarding how the advertisements are being viewed and used by the consumers which they specifically target.
BitBounce is not alone, either. AdChain is a company working to solve the problem of fraud in the advertisement market through the use of bots and automatic clickers. By incentivizing people to audit and review advertisement campaigns using their own token-based economy, AdChain is able to ensure the effectiveness and legitimacy of campaigns as they target their audiences and potential customers.
The Basic Attention Coin is also being used as a token-based economy for the creation of an incentivized cryptocurrency-based alternative to the traditional advertisement process. As the technology continues to develop, there is no doubt that more independent blockchain startups will slowly provide new and innovative ways for companies to target their preferred audiences.
The debate might not be over. But for the advertising industry, blockchain technology provides an entirely new tool to use in the fight for effective advertisement.