From simple technological advancements to sophisticated tech like Web 3, it’s no news that technology has made our world highly disruptive. The world of Digital Marketing is no different. The ever changing face of Digital Marketing has been quite prominent in the past decade & it is crucial that we stay ahead of the curve and learn more about the technologies that emerge in this industry. Blockchain, the revolutionary distribution ledger technology is one such example.
You may ask “Wasn’t blockchain a part of crypto? What does it have to do with Digital Marketing?”. Well, the answer might surprise you. Over the years, Digital Marketing has been subjected to many new technologies and blockchain is one of them. It has the potential to change the Digital Marketing game to a whole new level, offering solutions to decade old problems and pave the way for a brighter and innovative 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?
In layman’s terms, Blockchain is a database or a “digital ledger”, which stores information across a network of computers. What makes it unique or different from the conventional system is its security and decentralised nature. Each block in the chain contains a record of multiple transactions that are verified and encrypted by the network of computers called nodes. Once this information is added to the nodes, it can’t be reversed or tampered with, making blockchain highly secure and safe, making it a transparent way of storing data.
Opportunities for Digital Marketing
Now that we have a fundamental idea of what blockchain is, let’s take a look at how it makes Digital Marketing a prominent and promising industry of the future.
Improved Transparency
Ad Fraud is one of the prominent threats that the PPC advertising agency Services are facing today. With the influence of blockchain, marketers can get a picture perfect idea about their ads. i.e., they can verify whether their ads are being displayed to real users and that their data is being handled securely and also helps keep a secure ledger on the ad’s clicks and impressions.
Increased Efficiency
Blockchain Tech can streamline the processes involved in Digital Marketing operations by offering a safe, secure & decentralised database that provides access to all the parties involved. This inturn helps reduce the overall costs and increases efficiency by removing the need for intermediaries.
Increased Security
Due to the unique combination of decentralisation, consensus algorithms and cryptographic hashing mechanisms, blockchain is one of the most secure data ledgers out there and significantly reduces the risk of hacking, tampering, manipulation and altering of data.
The Limitations of Blockchain
As the saying goes, even the most perfect plan has its flaws, blockchain technology may sound perfect and it is, without any doubt, the most exciting advancement in the industry, but it has its own set of limitations.
Let’s take a look at some of the limitations of Blockchain in the 21st century.
Limited Understanding of the Technology
Businesses around the world still consider Blockchain to be a “Tech of the future”. But in all honesty, the future is here. Due to its complex understanding and steep learning curve, marketers and advertisers are hesitant in dabbling with the tech and integrating it into the system. To overcome this predicament, it’s time to invest in education. The front runners of the business should invest in time and money to help themselves and their employees to get a deeper idea about this technology, demystify the wrong ideas surrounding blockchain and practically apply it into digital marketing systems.
The Courage to Change
Humans are inherently resistant to change and Digital Marketers are no different. With the Blockchain being a very disruptive technology, it comes as no surprise that it still hasn’t been properly integrated into the system. To overcome this situation, the players and the front runners need to be properly educated on the practical advantages of blockchain and should be able to tackle the steep learning curve.
Limited Scalability
Blockchain is a relatively new technology and it is still in its infancy, which leads to limited scalability. The number of transactions that can be processed per second in the blockchain tech is relatively low and it directly hinders digital marketing agencies or SEO agency services that require a high rate of transactions per second.
Regulatory Obstacles
As stated above, Blockchain is a new technology and as with any new technology, there is a regulatory uncertainty surrounding it. Any DM Agency that’d like to integrate Blockchain into their system will have to take this uncertainty into consideration before taking the next step and will have to make sure that they comply with the existing laws and regulations.
Conclusion
It is without any doubt when we say this. Blockchain, with its transparency, decentralisation and efficiency system, is the future of this booming industry. But as of now, there are many limitations or roadblocks we marketers have to take into consideration before taking the next step. But nonetheless, this is something worth the wait. Blockchain will change the way people perceive marketing and will be the best way to provide top notch services to clients.
Until then, let’s keep a keen eye on this technology and stay ahead of the curve with the latest updates.
