Digital marketing faces a new frontier with Litecoin Blockchain
It is no secret that blockchain technology is a revolutionary invention that has the potential to disrupt the way we live. Its decentralized nature promotes transparency and trackability of transactions, while ensuring security and anonymity at the same time. So far, blockchains and cryptocurrencies have transformed the financial sector, with more industries to follow suit.
Digital marketing is an almost $200 billion industry, with over millions of searches, posts, photos, videos, tweets and ads generated every minute. It’s a huge industry that is just begging for a revolutionary makeover made possible by Litecoin blockchain and its ilk.
The Litecoin Blockchain Differential
Litecoin shows much promise. The cryptocurrency was an offshoot of Bitcoin and envisioned to be a complementary in many respects. The concept is that of Bitcoin more akin to gold in the sense that it is used more for its investment value, while Litecoin is like silver, useful for everyday transactions.
To this end, Litecoin processes transactions much faster than Bitcoin (2.5 minutes compared to Bitcoin’s 10 minutes). Litecoin mining is also more accessible, as it requires less in the way of specialized hardware compared to Bitcoin’s. Again, this supports the concept of Litecoin being more of an “everyday” cryptocoin.
This makes Litecoin a particularly good cryptocurrency choice for digital marketing transactions online. As each major cryptocoin is slowly focusing on a core area of strength, Litecoin’s motivation is to be the Internet’s most usable currency.
Paying for digital ads or campaigns using Litecoin is easier and more secure, eliminating the need for middlemen or payment processors, which is costly. Payments can be directly credited regardless of the size of the payment transaction. Since ad clicks are typically in the cents, this can be a good alternative for current mainstream processors that charge a certain fee that might make transacting these smaller amounts very inefficient or costly.
Problems Solved
But this is just the beginning, as utilizing the blockchain to its full potential can unlock wonderful things and solve longstanding problems with digital advertising.
One of these problems is trust in ad buying. Specifically, companies don’t exactly know where their ad dollars go to, or even if those ad dollars are even effective to begin with. Despite being a billion-dollar industry, there simply is not enough information available, through a mixture of lack of data and transparency.
Blockchains solves this by offering transparency and complete trackability to the table. Each step of the ad chain can be easily viewed, allowing companies to verify and know exactly where their funds are being spent on, or if it is effective.
This trust extends to making the ad campaign itself more effective. Blockchains can prevent fake bots, traffic or other fraudulent activity from posing as legitimate views or engagement. This gives the client and advertiser access to real users and potential customers, giving real engagement and driving true sales. With blockchain, this can be done much more effectively and at a fraction of the cost of a middleman, which may or may not be effective in the first place.
Perhaps one of the most powerful merits is the possibility of utilizing a more accurate targeting based on user’s online behavior. Tracking and analyzing this data is possible with blockchain’s transparency, and because users are anonymous on the blockchain at the same time, it preserves user’s privacy. This is a potential middle ground that might benefit both the marketer’s need for information and the user’s need for privacy.
Speaking of privacy, blockchain’s decentralized nature also protects the personal information and data of users. This prevents hackers from compromising and stealing key user information (a problem suffered one way or another by most social media platforms). This encourages users to trust marketers more, and in return give them access to their personal information. And in the world of marketing, data is king.
Blockchains are also already making a mark in the world of influencer marketing. Apps are available to easily connect clients with suitable digital influencers and making the entire relationship accountable and transparent with relevant metrics. This makes influencers more legitimate in the eyes of clients by linking their spending with actual results.
Last Words
Litecoin is poising itself as the world’s most usable cryptocurrency alongside Bitcoin and is suited to be used heavily by the digital marketing industry. By simplifying the oftentimes complex payment systems of digital marketing campaigns, it can help improve the industry overall
The next logical step is to use blockchain to revolutionize digital marketing itself. By using blockchain’s transparency, anonymity and decentralization approach, it solves a lot of its problems. Problems like the lack of trust between clients and advertisers, lack of accountability and transparency, and the prevalence of fraud and identity theft.
In the days ahead, the blockchain will likely emerge as the platform of choice for digital marketing and a host of other human endeavors.