Blockchain Technology Trend: Will it affect the future of social media marketing?
Whether you are a social media marketer offering services to businesses or a B2B or B2C entrepreneur using social media to reach clients, the blockchain technology is a trend which is set to rewrite the rules of the game.
How Blockchain Technology Has Transformed Social Media Marketing
As blockchain technology is disrupting a lot of industries, social media marketing is one among many sectors to feel the ramifications of this. Companies used to building brands on social media platforms should now realise bitcoin technology has changed the platform and how people network as well as how businesses and consumers use social media.
#1 Verified Online Identities
Now, social media channels are increasingly turning to new avenues for verifying online identities. With massive bot issues on social media platforms like Twitter, Instagram, and Facebook, marketing ROI is impacted negatively. Connecting with customers whose identities have been verified through blockchain technology and smart contracts is extremely useful for business owners who don’t want to carry out tone deaf social media campaigns based on fraudulent PPC ad impressions.
#2 Verified Marketplaces
Much like verified identities influence the future of blockchain enabled social media, verified marketplaces are changing the social media marketing scene too. Marketplaces are addressing specific needs and as blockchain technology becomes mainstream, business owners realise this technology’s immense potential.
#3 Leading the Way For the Future of Social Platforms
Combinations of cryptocurrencies and blockchain-enabled social media networks serve as a future of social platforms. Decentralised platforms will become commonplace, as social media users can choose which platform to network on. A crypto enabled social media platform that rewards you for making posts is one such platform.
Cryptocurrency and blockchain collectables are also influencing the future of social media. Significant interest in the crypto collectable sector is arising, with early movers raising millions.
#4 Combating Fake News
Smart contracts and blockchain technologies also influence the spread of fake content. In today’s social media network, fake news snippets and spam bots are predominant. Content distribution is based on verified information and spreading of traceable data. Blockchain-based social media can have the potential to impact traditional social media channels like Facebook, Twitter, and Snapchat. Understanding the potential of blockchain based SMM is the way to cash in on the new reality.
#5 Changing the Way People See Data
Blockchain has been used to disrupt how one thinks about data. Blockchain platforms decouple data from platforms. New platforms like BlockStack decentralise data and use it in new ways to empower social media users in general and social media marketers in particular.
Digital marketing companies are using blockchain technology. For instance, the Display Network channel is one of many examples. Bitcoin apps are changing the way people connect too. Online marketing will experience greater trust, transparency and better digital marketing practices all around, signalling converging interest in blockchain and digital marketing.
Blockchain has the potential to change social media marketing for the better. It makes sense, given that the biggest challenge on social media for marketers is the lack of transparency and reliability, which blockchain technology eliminates. In this way, social media marketing has come a full circle, from empowering users to platforms and individuals back again, thanks to blockchain technology.
To know more about the possibilities of blockchain technologies and ico funding, read the blog authored by fintech and blockchain expert Phillip Nunn, CEO of Blackmore Group at phillipnunn.co.uk.
Disclaimer: “This article was contributed by the CEO of Blackmore Group, Phillip Nunn. Entrepreneur, financial expert, corporate evangelist, fintech and crypto trading authority, Phillip is an industry speaker and renowned thought leader on topics such as Fintech, Cryptocurrency, Initial Coin Offerings and Blockchain technologies.”