Part 2: The expected change
In the last part we explored the how the digital currencies are changing digital marketing. In this one, we will dig deeper into the challenges and the future. One of the biggest challenges traditional advertisers face when trying to reach the cryptocurrency audience is collecting copious amounts of data about the existing or potential customers.
Because cryptocurrency is largely anonymous, it is incredibly difficult for advertisers to track individual users across multiple platforms and websites. This limits the amount of data they can collect about individual users, which in turn limits the targeting data they can use to reach the relevant people.
The future of digital marketing is all about the transition from traditional to blockchain-based systems. With the first blockchain-based digital marketing platform launched earlier this year, we’re already underway. Over the next year, we will see an increasing number of blockchain-based platforms launched in the digital marketing space. This will provide opportunities for marketers to generate new revenue streams and improve the quality of data collected.
The advantages of advertising in cryptocurrency are numerous, but the most notable is the ability to reach a much larger audience than traditional advertising. Also, consumers have better control with Web 3.0, as they can choose with whom, what, when, where, and how they want to interact.
Digital marketing is evolving at a rapid pace, with new buzzwords emerging and old ones being redefined. The future of digital marketing looks promising, and crypto and blockchain would provide marketers with new opportunities to generate revenue and improve the quality of data collected.
Hussam Abdulkhaleq is Account Manager at Cicero & Bernay Communication Consultancy, an independent PR agency headquartered in Dubai offering new-age public relations consultancy to the UAE and across the MENA region. | www.cbpr.me