Get ready to buckle your seatbelt, Crypto’s impact has just begun on marketing

Marketing will adapt to a new crypto future with a decentralized consumer group operating via Web 3.0.
It is a long and difficult road to adoption of crypto and blockchain in the marketing industry. It is a long and winding road, but it is possible to see the transformation coming. What are the commonalities in marketing revolutions? While every “marketing revolution” is different, there are many similarities. Marketing agencies will be ahead of the curve to show their clients their competitive advantage and value. However, most brand marketers will take a slower approach to change. They are enticed by the possibility of competitive differentiation, but they are also more cautious, have complex systems issues, and need leadership with a certain risk tolerance. It’s why Walmart and McDonald’s are trying crypto, but there’s still a lot to do. Think back to the early days of the internet, when you had to connect a modem to get a dial-up connection. You also had to encourage people to use online banking to pay their first bill or electronically deposit their check. Or QR-codes which were a huge failure until Apple created a QR reader built right into the iPhone’s camera. The common denominator is simplicity. It’s not easy for mainstream consumers to navigate the innumerable exchanges, Metamask and Uniswap, as well as hot and cold wallets. Although early adopters are doing well, they are only a small fraction of the overall population. Related: The rise of the user-generated brandThird. Innovation happens because there are problems. From the Cypherpunks and modern-day evangelists to crypto advocates, they talk about how privacy, decentralization, and the democratization money will transform the world. Marketers see the issues as related but less prominent. Projects like Lucidity (now Logiq), and Rebel AI (now Logiq), offer solutions to the problem of bot-driven fraud in digital marketing. The browser Brave and its token, BAT, promise data privacy when searching the internet. The browser Brave and its token, BAT, promise to protect data privacy when searching the web. Payments: With the proliferation of crypto credit cards such as those offered by Crypto.com, BlcokFi… and the ability to pay with cryptocurrency on PayPal… buy now and pay later (BNPL), platforms like Klarna integrating Safello… it is safe to say that the payments category is rapidly evolving, and will have a significant impact on how products or services engage their customers. Analytics: The digital marketing revolution is based on data analytics. Marketers have tremendous potential to use it in a decentralized environment. The potential of querying tools like The Graph, Chainlink and onChain analytics for brand marketers is only part of the many uses for them. Content creation: Rights of content creators as well as publishers have been a hot topic in the marketing industry. Audius and other projects are showing how a decentralized ledger can be a gamechanger in protecting copyrights. This allows consumers more control over how they consume and pay for content. Facebook is reportedly piloting its own stablecoin-based digital currency, called Diem. Facebook is reportedly piloting a stablecoin-based digital currency called Diem. Moreover, as experiences outpace “stuff” as a coveted reward for loyalty, the promise of NFTs for “digital tickets” to unique experiences like that offered by Microsoft, collectible trading and auctions, and the ability to connect in-person events with a digital experience is an exciting new frontier.Related: Brands must tokenize their loyalty and rewards programsGamification: The impressive growth of Axie Infinity demonstrates just how powerful the potential for play-to-earn gaming and NFTs can be. Although Axie is a standalone game, it suggests a future in which brands will be able to gamify their marketing strategies in a semi-decentralized manner and even create their own games. We will see Flow powering NBA Top Shot. Flow will power NBA Top Shot. This is a reasonable thought given all the investor interest in crypto projects. While I have previously presented my thesis on the rise of the user generated brand (UGB), I would like to look into the future and paint a picture about a personal Web 3.0, digital consumer community. The battles over regulation are mostly over. Transaction speed, scalability, and resilience are all now in question. After several waves of mergers, consolidation, and an inevitable shakeout there are now dominant projects in each category. Everyone on the internet now has a private key on a Blockchain within their personalized metaverse. This allows them to build their “private home” (which can be named as they wish). Their Metaverse House (MVH), which is easy to access, will allow them to store, explore, and procure using their universal digital wallet. They can only access the items they want to make public using a privacy view key. All other information is secure and private. For example, someone might want Nexium to tell him how to eliminate acid reflux. To do this, they will simply need to make their view key public. They will be rewarded if they engage with the ad unit as per their smart contract. If they are researching a new car, and would like a brand send offers or show them stuff, they can simply drop their public keys on the website. It will show up in their MVH… and continue to show up until the prospect revokes it. Advertisers will need to pay a premium to do this. This means that they will have to be more selective in who they target and how they use AI/predictive modelling to analyze their transaction histories and profile data. Consumers will pay for content using their universal wallet. It won’t be a monthly subscription. It will be based on how much time you spend on the site, the content accessed, or any other arrangement the publisher offers its customers. You don’t need to get it from an underwriter like State Farm, Progressive, or Geico. Instead, you will connect with others in a peer-to-peer smart contract cooperative, with arbitrators who act as adjusters and receive fees for every “verdict.” You won’t need to get it from an underwriter like State Farm, Progressive, or Geico. Instead, you will connect with other members in a peer–to-peer smart contractual cooperative with arbitrators who receive fees for every “verdict.” You will be able to ask retailers to bid for your business by price, added value, bundle offers, etc. You want to buy something in a store halfway across the globe? You can buy something from a store halfway around the world. Advertisers should be careful to show consumers the value of being helpful and not harassing brands. It is possible. You decide. You decide. Investment and trading involve risk. Readers should do their own research before making any investment or trading decisions. Prior to that, he was the chief marketing officer at PrimaHealth credit and was also the owner/partner and chief strategist at Doner CX (parte of the MDC Partners Network), in which he managed the CRM, analytics, and digital media. Rich is an adjunct professor at Western Connecticut University, where he is a member of the Ancell School of Business advisory board. Rich has also lectured on strategy at Syracuse University’s New York University Master’s Program of Marketing. Rich is also the author of Deconstructing Creative Strategy.

Relevant news

Leave a Reply