Back when the first chain of blocks was described in 1991 the aim was to come up with a method that would prevent tampering with timestamped documents. It was all about safety. The system was further improved and thus the blockchain was born, as a public, digital record of transactions across many computers which cannot be altered retroactievely without altering subsequent blocks.
How can Marketing Automation benefit from it?
Blockchain can tackle issues such as web advertising fraud, which Proxima estimates to be present in around 35% of web activity, which effectively has led big companies to drastically reduce their advertising budgets. If giant conglomerates with their abundant resources are impacted, we can only imagine what this is doing to small and medium businesses.
The first motivation for SMBs to launch automated campaigns was mostly promotional, but the need for data storage and security quickly became the top concern.
Security was no longer an added value that certain brands offered but a non-negotiable prerequisite consumers demanded in all their transactions.
Marketing Automation on blockchain
Leveraging that kind of performance is not always easy to achieve, but there are certain platforms which took advantage of this niche in the market and offered precisely that: a no-exception product which stores data properly and allows businesses to create and manage campaigns on distributed systems, collecting unique insights and storing them safely in an independent database, without necessarily using the services of Google or Facebook.
The challenges confronted by the email marketing industry open up a whole world of possibilities: the combinations with artificial intelligence, the Internet of Things, character recognition, machine learning and many other applications are bringing innovations we had never even imagined.
Non-commercial sectors such as hospital or schools are also experiencing an incredible growth thanks to the automation of their services, and this in turn is helping blockchain to learn and expand its limitations and become even more empowered.
Blockchain brings more transparency and visibility over data, something companies have been demanding, with better control and monitoring over their own web content.
As much as blockchain remains to be more accessible for marketers everywhere, it offers great possibilities if it learns to overcome the excessive manual processes it still requires.
Centralised and Safe
Customer data often involves multiple issues such as multiple databases, legacy systems, different stakeholders… the effort required to maintain an airtight, coherent dataset is massive and the concern also goes the other way: as a customer, who knows what about me? Blockchain can be the answer to achieve the holy grail of a real-time updated single customer view.
By reducing drastically the error margin, improving accuracy, enabling perfect segmenting and being usable on all channels, this is the perfect bridge to step into the next stage of marketing automation.