Discovering Digital Marketing Opportunities with Blockchain

After a couple of moments we finally got time to re-iterate thoughts on Blockchain – some of the main thoughts can be found under where we applied our perspectives on digital marketing and advertisement networks:  As today’s players are taking significant part of digital advertising space, why this value could not freely distributed across advertising network. A quite broad topic to evaluate so we decided explore the subject from different stakeholder point-of-view and through simple demonstrations.

As more we dig into Blockchain, the more interesting it gets: It is clear that the technology is disruptive and could have a capacity to change many things we face in society today. Here we are not talking only having Bitcoins around, but also having a mechanism in place in occurrences where a “trustless proof of transactions is needed”.

We started to explore opportunities in digital marketing space: One of the appliances could lie in marketing networks, since much of advertising is done by trusted networks where demand side platforms play a significant role, leaving little space for advertiser to actually understand how their advertising is utilized (e.g. what advertises actually led to action and what was their impact).

To us a review of the Blockchain has come  timely since it covers elements to build a novel solution for Digital Marketing -space.

The Blockchain itself is broken down into three versions: currency, contracts and applications. The currency stands for cryptocurrencies in applications related to cash including examples such as currency transfers and exchange transactions. The contract stands for smart contracts ranging from using the Blockchain for bonds, loans or buying sole energy. The last form of Blockchain are applications beyond currency and can be, for example, applications in government, health, science and marketing area.

Now, imagine if currency could be transformed into marketing asset, contract for an offer and application for a targeted offer. The capability to run such a solution in trusted marketing ecosystem would open interesting opportunities for new types of marketing solutions that could serve the consumer new and innovative ways (e.g. give customer targeted price reductions, follow and report all issued marketing elements, deprecate them accordingly, etc.)

The downside of this scenario is that it is complicated and pretty complex to understand – even by seasoned experts. As Blockchain is socially changing technology it would be beneficial to clearly define the marketing network problem and introduce a relevant solution leaning in this technology.