The cryptocurrencies are affecting the digital marketing spectrum significantly. In today’s digital world, digital marketing is a way of promoting and selling using a plethora of online marketing techniques. There are certain aspects of the digital marketing program which are being influenced and shaped by the changing trends of the cryptocurrency industry. The ultimate objective of digital marketing is to enhance customer engagement by using marketing collaterals like Search Engine Optimization, Email Newsletter, Social Media Optimization, Social Media Marketing and a host of other services.
The first break in the cryptocurrency industry came with the launch of the bitcoins. The very launch of the bitcoin has brought about several changes in the industry patterns by influencing healthcare, finance, and investment banking.
Disruption in the consumer data accessibility
The cryptocurrency industry works on the basis of consensus built mechanisms within closed ecosystems generally backed by blockchain systems. The immutability of the continuous ledgers makes it very difficult for consumer research and digital marketing agencies to access customer data. This is one of the biggest disruptions which the digital industry would face in the coming years. The increasing acceptance of cryptocurrencies within the e-commerce ecosystem is helping in the gradual process of disruption. Rather than actual analytical predictive modeling, the market analysts would get fewer data to work on in the coming years.
User Information and Third Party transactions
The four important elements in the digital industry are the end-users, published content, platforms such as Facebook, Youtube, and advertising companies. Youtube has a lot of content creators each varying between thousands to millions of subscribers.
Removing the middlemen or the third party participants from the trading periphery
The usage of cryptocurrencies would automatically remove the involvement of middlemen and third parties within the trading periphery. This is one of the biggest advantages or rather boons of having a blockchain-enabled network working in the background. It provides a layer of security within the trading ecosystem by eliminating all third parties which would pose a risk to the entire transacting system. The removal of third parties enhances the security matrix by minimizing the chances of intrusion by external bodies.
Cryptocurrency based trading and blockchain go hand in hand! With more adoption towards cryptocurrencies, the need for blockchain-based entities would always be on the rise. Blockchain adoption is set to increase significantly in the next few years. With blockchain, there is a disadvantage for advertisers and digital marketers to lose out on visibility. With blockchain, all transactions would get stored in a block leading to bigger challenges for the marketers especially when it comes to adapting to new strategies in digital marketing.
With large scale adoption of blockchain technology, digital marketing professionals and companies would have to come up with newer solutions that would help in resolving existing challenges associated with digital marketing. Among the existing platforms, newsletters would fare well in the context of closed secured blockchain network chains.