Blockchain – one of the latest technologies to burst onto the scene with the potential to shake up every sector, from financial services through to marketing. But according to The CMO Survey, only 8% of firms rate the use of blockchain in marketing as moderately or very important.
But the truth of that matter is that the technology holds a lot of potential, but is often cast aside because it is not well understood and subject to a lot of hype. This combination creates a natural barrier to entry and has likely caused marketers to take a “wait and see” approach.
But the truth is that Blockchain has the potential to massively enhance the marketer and customer relationship, by increasing the capabilities of marketing departments and enabling the likes of:
- Near-zero transaction costs
- Ending the Facebook-Google duopoly
- Reducing marketing fraud and spam
- Remonitising media consumption
- Creating better results for consumers and companies
With so much potential, marketers need to not be afraid to take the first step in harnessing still-unexplored technologies. Whilst the ramifications of these experiments going wrong might be slightly inconvenient, the benefits of them going right are too good to ignore.
