Wait, isn’t blockchain just Bitcoin?
Not even close. Blockchain has been around since 2008. Bitcoin and other cryptocurrencies (like Litecoin, Namecoin, Peercoin, etc) are just the first applications that have received the bulk of the blockchain coverage. Blockchain goes a lot deeper. At its simplest, blockchain is a digital ledger that is distributed, not copied, across broad network computers. The entire network is updated instantaneously and transactions are stored in the ledger. All transactions are verifiable and transparent because the ledger is public and not controlled by any one individual.
Companies can utilize this data for their own services.
Set up a Google My Business account and Google will offer you completely automated PPC options using its massive repository of crawled and curated Internet data.
LinkedIn is playing catchup with a larger array of targeting options driven by its massive database.
While both of these are using AI to add these services, Facebook is leading the way.
Cambridge Analytica and the 2016 political campaign tampering really opened up and exposed the need for transparency. In 2018, before we could run political ads for our clients, we went through an extensive process to be verified as a company operating in the US as well as every individual with access to the client’s account had to be verified as a real person living in the US.
The next step is the Facebook Ad Library.
Launched in June, this tool lets anyone take an ad they’ve seen on Facebook, Instagram, or any of the Facebook audience network and see complete details on who placed the ad, how much they spent on the campaign, and how it was targeted.
Let’s not kid ourselves – this is still within the Facebook data universe. It is a step in the direction of transparency. A digital ledger will eventually be provided that can be verified by the public and lives on a blockchain host. As we’re learning from Cambridge Analytica, the market is moving towards transparency.
So what does this mean for marketing?
It’s awesome for sharing your awesomeness.
First, this means the ads we create will be much more tailored to your interests and highly personalized. The older crowd will think these ads are creepy but the digital natives will expect it. They’ll be happy to let the AI filter out the crap and only show what we want to see.
Secondly, as advertisers, we’ll automate more using the new tools Google, LinkedIn, and Facebook are providing. Where we will add value is in shaping the advertising experience. Giving life to the storytelling and ensuring the promise the ad delivers. No more deceptive and annoying ads. The market will no longer accept interruptive ads.
Thirdly, and most importantly, your content strategy will matter more than ever before. Every business that wants to remain relevant will have to provide content that their audience needs. If you’re not answering a question for your audience or not helping them understand their problem, you won’t be part of their final selection set. They will find your competition that is educating and nurturing them and your competition will win their business.
Marketers measure of choice will become things like attention tokens.
So what is an attention token?
That’s a topic for another day.