BlockChain in Digital Marketing: establishing consumer trust and new advertising
Digital marketing has concerns regarding online activities such as cybersecurity, transparency, and data protection. At the same time, Blockchain can help to establish consumer trust in the digital world, by providing more authenticity, transparency and support cross-promotion with influencers. However, businesses like Facebook function as a monopoly or duopoly, which is causing problems to other online platforms. Moreover, data scandals cause users to feel that their data is being controlled.
Another challenge for digital data is how to present relevant content without third-party cookies. One of the possible solutions is GDPR-compliant identities in single sign-on processes. The advantage of GDPR-compliant identities is that instead of obtaining customer data from several sources as it was in the past, the customers create their own profiles. Blockchain offers several interaction models to increase anonymity for users, while it also enables publishers to receive support from those customers who liked the presented content. Another feature offered by Blockchain is a decentralized search engine, which allows direct advertising. Still, the Blockchain is growing and yet it hasn’t established commercial viability, and sector-wide initiatives are (still) preventing widespread adoption. Yet, it can achieve more transparency, become more efficient and establish more trust between advertisers and their clients. In the future, it can be one of the key competitive factors in digital marketing.