Digital marketing and Cryptocurrency are trending topics in the 20th century, and they are changing the game for different industries. Digital marketing influences how the masses perceive a brand. The advent of cryptocurrency and blockchain has influenced digital marketing considerably. Crypto Genius is witnessing the coordinated effects of these two technologies, and we shall talk about this in detail at https://thecryptogenius.software/.
Introducing the application of cryptocurrency in the digital marketing space can bring about new possibilities. The introduction of BAT or Basic Attention Token in the Digital Marketing in the industry can help push crypto to more than a billion users while eliminating violations of privacy and other inefficiencies to the maximum.
How BAT can help revolutionize Digital Marketing
BAT is an acronym for Basic Attention Token and is based on the blockchain used by Ethereum. BAT ensures that all parties are rewarded. It implies that the advertiser will be able to generate profits, while a commission is awarded to the publisher as well. This technology even rewards the viewer for watching or skipping an advertisement. Thus, it creates a win-win situation for everybody.
How BAT works
The process of implementing BAT in the digital advertisement space starts with the person or organization that is acting as the marketer. The advertiser will supply the tokens to viewers that have the option to choose the kind of ads they want to see.
The BAT can be traded for various rewards by the end-users. The advertiser gains insights regarding whether the viewers like their products or not, with the help of this technology. This technology presents users to gain more information regarding products they like, by selecting the kind of ads they want to see.
However, the consumers receive a cut of the BAT used by the advertiser for buying space for ads. The publishers receive compensation from both the users and the advertisers, making them the highest compensated party in this mechanism.
How cryptocurrency changes the digital marketing scene
Agencies responsible for advertising other companies utilize consumer data available to them to formulate marketing campaigns that can turn people into loyal customers if carried out properly. However, the introduction of BAT turns the picture around. It endows the customers with more control over what advertisements they want to see.
This leads to lower numbers of potential customers. Cryptocurrency runs on blockchain technology, which has the potential to eradicate fraud and further brand recognition. The security provided by blockchains is something that people can get behind. The need for transparency is adequately met by blockchain technology. Cryptocurrency can revolutionize the world economy if widely accepted and propagated.
People that suffer from digital inequity, however, are bound to take a bigger hit if cryptocurrencies get associated with digital marketing. Many people are going to find this transition to a more advanced system hard to pull off, which will further socioeconomic inequity. Therefore, considerations need to be made to avoid such inequities.
The widespread introduction of the Basic Attention Token can help reduce advertisement network expenses by eliminating unnecessary aspects.
Therefore, one can state that if cryptocurrency and digital marketing, are introduced together on a large scale, the traditional dynamics of digital marketing might change considerably. The concept of BAT has been introduced in some advertising agencies, and it has been observed that it has been providing promising results. The introduction of BAT in the digital marketing scenario has allowed advertisers to cut down unnecessary ad expenses.
It has also allowed customers to benefit from watching advertisements. Customers earn BAT by watching advertisements of their choice, which makes it feasible for them to go through longer advertisements. These BATS can be traded for premium subscriptions to websites and other services. It can therefore be concluded that cryptocurrency will further digital marketing and vice versa.
Masab Farooque is a Tech Geek, Writer, and Founder at The Panther Tech. He is also a lead game developer at 10StaticStudios.
When he is not writing, he is mostly playing video games