Crypto Effect on Digital Marketing
With everything that has happened in the economy in recent years, alternative currencies have become a hot topic.
The concept of money is undergoing revolutionary changes, and cryptocurrencies such as Bitcoin are gaining popularity.
As a result, we decided to investigate how cryptocurrency specifically affects digital marketing and, in turn, your business.
Cryptocurrency
Before we dive into the effects of cryptocurrency on digital marketing, let's quickly review what cryptocurrency is.
Cryptocurrency is a term that refers to a virtual or digital currency that is secured using cryptography, which makes forgery and double-spending nearly impossible.
Numerous cryptocurrencies are decentralized networks built on blockchain technology, an open, distributed ledger that efficiently records transactions between two parties in code.
It is an electronic currency that exists in digits only.
The Impact of Cryptocurrency on Digital Marketing
As many marketers are aware, the digital marketing landscape is constantly changing. One of the latest trends that may prove to be significant is the rise of cryptocurrency which could affect how consumers purchase goods and services online.
The impact of cryptocurrency on digital marketing is especially evident on social media sites such as Twitter and Google+. These networks have become hotbeds for cryptocurrency exchanges, and marketers can reach audiences with relevant ads.
Google officially announced that it will accept advertisements from the new industry and allow them to be displayed through its AdWords service. Social media sites such as Facebook, Twitter, and Google+ have been quite accepting of the new digital currency that has helped it gain more mainstream adoption.
One example is Twitter, where users can use a $ sign instead of writing them out in full, such as one “Bitcoin” is written as $1 BTC. This allows for easier access to information and makes cryptocurrency more accessible to the masses.
Blockchain technology has impacted every facet of marketing departments along with the business. First of all, marketers have access to users’ data and they collect it to create digital marketing campaigns.
It could be used to accomplish critical marketing goals such as fraud prevention and brand awareness. Blockchain technology satisfies a customer's need for integrity and data security. The data is also used to further tailor everything according to your audience’s likeness.
Consumer data is at the heart of digital commerce. Businesses use this fact to plan their web advertisements. Customers' preferences are identified, and ads are delivered to them based on the information.
All of these factors have had a huge impact on digital marketing, with the most notable benefit being access to users' private data. Cryptocurrency-based digital marketing is working the smart way to connect businesses with consumers and so on. BAT is the basic attention token that illustrates how cryptos may alter digital marketing. This digital advertising coin acts as a medium of exchange for publishers, users, and advertisers.