Cryptocurrencies are all on the rising trend right now. But what does this mean for digital marketing? We will discuss how crypto is affecting digital marketing and how businesses can capitalize on this trend.
New Revenue Models
The way we do business is changing because cryptocurrencies enable people to pay you instantly through exchange apps like OKX, without having to wait the traditional 2-3 days for transactions to complete.
This is because the blockchain technology which enables cryptocurrencies is already fundamentally changing how we transact by cutting out intermediaries like banks and credit card companies. As cryptocurrencies become more mainstream, it will be easier for advertisers to use them as advertising tools instead of cash.
Capturing Data
At the moment, digital marketers are capturing data about people’s browsing habits to understand better who they are targeting. Blockchain technology will allow for this to become even more sophisticated by giving us a much deeper insight into our target consumers.
As cryptocurrencies are increasingly being accepted as advertising tools, consumers could give up their personal information in exchange for tokens. This will allow you to capture their data.
New Targeting Methods
By utilizing blockchain technology, marketers can better understand customers. They can see what the customer is doing and where they are going as they continue to receive ads about products and services that might interest them.
This will result in more effective targeting for marketers. As the blockchain matures, it may allow us to track consumers at every stage of their journey – from search to purchase.
New Opportunities
One thing that digital marketers should consider is the possibility of tokenizing ad billboards and apps online in a way that earns them revenue. This would be ideal for businesses operating in areas where internet access is poor or nonexistent.
Advertisers can drive more revenue even in emerging markets by leveraging cryptocurrencies and blockchain technology.
Currently, it isn’t easy to monetize these types of ads, making certain parts of the world a challenge.
Disruption
In addition to new business models and opportunities, crypto-based advertising might lead us to a world where marketers have no control over ads. This is because people could tip advertisers with tokens if they see an ad they like.
This means that digital marketing would be disrupted by the lack of control and direction, negatively affecting marketers.
Problems
One of the main problems with cryptocurrencies is that they are extremely volatile. This means that when marketers invest in them, it may not be worth their time because the value of the cryptocurrency may decrease in a matter of days.
In addition, cryptocurrencies cannot be used for all forms of advertising yet, as not all brands want to accept them as a form of advertising.
Conclusion
It is clear that cryptocurrencies will significantly impact digital marketing in years to come. It is therefore important for digital marketers to stay ahead of this curve. They need to educate themselves so as not to lose out on any opportunities.