Blockchain Technology to benefit Location-Based Advertising
Jan 11, 2018 Posted / 3503 Views
With the advent of the Internet and convergence with new media types, casting is the least proficient way of appealing the customers and getting their attention. We need to recognize the fact that attention spans are lowering with time and also in proportion to the percentage of competing ads in our periphery. Which is why it is important that advertisers must divert their messaging on particular audiences and target more specifically.
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Targeting is critical for small and medium scale businesses whose operation and resources are very limited. They need to reckon the fact that now they will need to enhance and focus on several levels in relation to demographic, geographic location, channels used and more. Marshall McLuhan says that medium is the message, which is why information and communication techniques and strategies play a considerably significant role. The objective is not just to get a hold on to the website traffic, but for it to be the right kind of traffic. As a result, businesses have come up with location-based advertising (LBA).
Location-based advertising facilitates every type of business, for instance, a local brick and mortar shops will benefit from by amalgamating mobile advertising with geo-targeting technology. Nonetheless, regardless of the effectiveness of these marketing strategies, the LBA is facing several hurdles at differential levels.
Many times individuals have come forward and have been explicit about their privacy concerns with GPS-based ad targeting and validate that they are timid to go with it. In this space, blockchain technology has precedent to revamp the status quo of location-based advertising and is offering disruptive techniques to tear down the barriers that are already in place in this industry.
Many merchants are taking advantage of the granular targeting tools that avert the advertisers from wasting precious finances on those areas where there is the least chance of converting a customer. It is important to understand that reach is most significant, however, is how proficiently a local business can fabricate an online community to sustain its offline functionality.
This is the exact reason that searching the target audience’s demography and reinventing the content of their message is a pertinent stage of ad designing. Then the promotions are enticed and then incentivize according to the customer's requirements. This is the exact reason, which is why most industries choose a location-based promotional platform.
We already understand that Blockchain is a decentralized ledger technology and a software platform that works on a network of its own users without a central domineering server, which may have all the access. This unique technology with an inimitable modelling naturally acknowledges the security drawbacks in centralized content accumulation strategy and makes storing information and documentation of value on the network secure than ever. Blockchains usually utilizes cryptocurrency as a tool of exchange for anything, which is being moved and exchanged between the network’s users. This could include a space on a cloud storage platform, bandwidth on a decentralized VPN service, or digitized currency in solutions like Bitcoin or Ethereum. The significant difference is posed is that Blockchain averts any kind of Middlemen intrusions, as there are no gates between users and content providers, where payments can be intervened.
Cryptocurrency can be utilized as a kind of financial reward that can be customized to incentivize stakeholders only for the dealings that can assist others in the ecosystem. Location-based advertising is a significant application for this technology because it can better arrange in a line the interests of those being targeted and those indulging in this specific targeting, cultivating a reciprocally beneficial association between them. Innovative companies are engaging in this notion with enthusiasm.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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