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Advantages Of Using Blockchain In A Referral Marketing Strategy

Blockchain, the tool that is guaranteeing the security of digital transactions, is not only a fashionable trend but also represents a step forward both in the economy and in other aspects of daily life.

Let us remember that Blockchain is a technology that facilitates the transfer of digital data safely through sophisticated encryption.

Providing more security than the usual bank transfers, Blockchain is compared to a company's accounting, in which you must record both the inflows and outflows of money.

Blockchain in marketing records digital events and makes transfers with the particularity that intermediaries are not needed to approve and verify the information. This is validated and registered in independent nodes. When it is entered it cannot be deleted, just add new records.

As we can see, Blockchain not only guarantees the security of digital processes but also makes transactions carried out without intermediaries faster and cheaper.

How to apply Blockchain in digital marketing?

Among the applications that this technology has in digital marketing strategies, the following stand out:

  • Brand liability thanks to contracts
Thanks to Blockchain, smart contracts can be created that cannot be transformed or destroyed, so the promise of a brand is public and responsible.

  • Priority to users and customers
The priority of user and customer data is something that Blockchain ensures.

Consumers can put a price on transactions and users should be paid and not the media in which the ad is published. This makes the brand gain more loyal users.

  • Greater security in digital purchases
Counterfeits in online shopping will disappear. could be traced from manufacture to recipient. Therefore, consumers' fear of buying a fake is eliminated, which will make brands stronger.
Advantages of Blockchain in Referral Strategies
Blockchain makes transactions much more transparent. Among the advantages of technology in referral marketing we find:

  • Send data safely
Blockchain transfers do not need intermediaries to check or approve the transaction data because they are stored and distributed in independent nodes that record and validate them.

Therefore, transactions and data are safer and there are no failure points that compromise strategies.

  • Data protection
Blockchain is a solution to solve the collection of data since it can keep them under control through a decentralized structure. In this way, it will not be so easy to collect data from potential consumers, but they will voluntarily decide the type of advertising and content they want to see.

  • Non-intrusive advertising
Many of the banner ads are intrusive and annoying. For this reason, creative solutions have been designed to modify how you interact with advertising, making customers owners of their data and their space.

  • Property and security
Blockchain can go a step further to simplify complex licensing without intermediaries.

  • Knowledge of the public
Segmenting an advertising campaign is essential in a Referral strategy. The target audience is segmented based on a series of variables such as their location, age, and interests, to provide adequate content that attracts the attention of all types of audiences.

With Blockchain, we will be able to have access to a personalized profile that will provide the information.
POSTED ON JULY 1, 2022
BY: ELIZABETH ALMEIDA