Blockchain’s value is not only realised in the financial sector but also the marketing industry. The impact of blockchain technology in the marketing industry is yet to be seen. Blockchain addresses a customer’s need for transparency and data protection. Also, it achieves the critical goals in marketing, such as minimizing fraud and building brand recognition organically.
“Marketing, along with data transparency may take strides forward, thanks to blockchain,” says Renato Rodriguez, an expert in crypto-economics, finance, and also a renowned name in the network marketing industry.
Renato believes there are many implications of blockchain outside of traditional markets. This modern technology has the ability to change how marketers collect and use data, how they address customers and manage ads.
With a record of more than 18 years, he has been dedicating himself to the areas of personal growth, leadership, and marketing networks. Renato claims that he has seen exponential growth of blockchain technology in the marketing industry in the last 3 years.
“Marketers can use blockchain in tracing keywords to create more data-driven, accurate campaigns. A tracker can be built on the blockchain to resolve all of the inconsistencies that marketers currently have to account for when summarizing efforts.”
According to Renato, social media is currently under high surveillance. Social media giants track user data, and they use these data points to suit the interest of third parties without the consent of the user. These platforms are popular for limiting the personal opinion of people. With blockchain, these issues can be resolved, and a decentralized network will allow the users to share, discover, and connect without the traditional social media surveillance.
Specialized in systems engineering and graduated with a degree in Economics, Renato has certifications in digital economy and blockchain technology obtained from the London Academy. He claims that Ethereum based smart contracts will help reduce fraud in the ads space. There are some questionable practices done in the marketing industry–one of them is artificially inflating engagement numbers and impressions. With blockchain, ad impressions and clicks are authentic because they are recorded on a trusted blockchain.
Last but not least, blockchain technologies ultimately provide more transparency for consumers. Consumers will be aware that their data is being used by somebody and also the reason why. In many instances, blockchain-powered marketing campaigns will help consumers earn incentives based on their participation. And companies will be aware of their funds being used for authentic and organic results.
About Renato Rodriguez
Renato Rodriguez is a Guatemalan American businessman. He has founded multiple companies dedicated to technology development in the financial sector with a specialty in crypto-economics and blockchain located around the world with headquarters in United States, Mexico, Guatemala, Panama, Brazil, and Israel.