It’s no secret that technology has significantly disrupted our environment, from straightforward technological breakthroughs to complex technology like Web 3. Digital marketing is no different in this environment. The ever-evolving nature of digital marketing has been fairly noticeable over the past ten years, and it is essential that we keep up with the times and educate ourselves on the latest technological advancements in this field. One such example is the cutting-edge distributed ledger technology known as blockchain.
Wasn’t blockchain a component of crypto, you may ask? What is it related to in terms of digital marketing? The solution, though, might surprise you. Digital marketing has been exposed to numerous new technologies throughout the years, and blockchain is one of them. It might bring the game of digital marketing to a completely new level, provide answers to issues that have existed for 10 years, and open the door to a more promising and creative future.
Before we head deeper into the impact of blockchain tech in the DM industry & Digital Marketing Agency Services, let’s take a brief look at the technology first
What is Blockchain?
Blockchain can be thought of as a database or “digital ledger” that saves data on a network of computers. Its decentralised structure and security distinguish it from conventional systems. The network of computers known as nodes verifies and encrypts the records of numerous transactions that are contained in each block of the chain. Blockchain is a transparent method of storing data since once this information is added to the nodes, it cannot be changed or reversed.
Opportunities for Digital Marketing
Now that we have a basic understanding of what blockchain is, let’s look at how it contributes to the future prominence and potential of the digital marketing sector.
One of the most significant concerns facing PPC advertising agency services today is ad fraud. Marketers can have a crystal-clear understanding of their marketing thanks to the influence of blockchain. They are able to confirm whether their advertising are being shown to actual users, that their data is being managed safely, and they can also help maintain a secure ledger on the impressions and clicks associated with the ads.
By providing a safe, private, and decentralised database with access for all parties, blockchain technology can streamline the procedures associated in Digital Marketing operations. By eliminating the need for intermediaries, this contributes to a decrease in overall expenses and an increase in efficiency.
Blockchain is one of the most secure data ledgers available and dramatically lowers the danger of hacking, tampering, manipulation, and data alteration thanks to the special mix of decentralisation, consensus algorithms, and cryptographic hashing methods.
The Limitations of Blockchain
Even the best-laid plans can have defects, as the proverb goes. Blockchain technology may seem flawless and is without a doubt the most exciting development in the field, but it also has its own set of restrictions.
Let’s look at some of the 21st-century Blockchain’s limitations.
Limited Understanding of the Technology
Blockchain is still seen by businesses as a “tech of the future” worldwide. However, the future has already here. Marketers and advertisers are wary of experimenting with the technology and incorporating it into the system because of its complicated understanding and steep learning curve. It’s time to make an investment in education to get out of this jam. The company’s top executives should spend time and money to educate themselves and their staff on this technology, dispel myths about blockchain, and practically integrate it into digital marketing platforms.
The Courage to Change
Digital marketers are no different from humans in that they are naturally averse to change. It is hardly surprising that the Blockchain, a highly disruptive technology, is still not fully integrated into the system. The key stakeholders and front-runners must be adequately informed about the real-world benefits of blockchain technology and be able to climb the steep learning curve in order to overcome this dilemma.
Due to blockchain’s recent development and limited scalability, it is still in its infancy. Digital marketing firms and SEO agency services that demand a high rate of transactions per second are directly hampered by the comparatively low number of transactions that the blockchain technology can perform per second.
As was already mentioned, Blockchain is a new technology, and like any new technology, it is surrounded by regulatory ambiguity. Before moving forward, any DM Agency that wants to include Blockchain into their system must weigh this ambiguity and make sure they are in compliance with all applicable laws and rules.
We can state this without a shadow of a doubt. The future of this burgeoning industry lies in blockchain, with its transparency, decentralization, and efficiency system. However, there are now a number of restrictions or obstacles that we marketers must take into account before moving further. Nevertheless, it was worth the wait for this. Blockchain will alter how people view marketing and will be the greatest option to give customers high-quality services.