Let’s See Whether Bitcoin Can Enhance Digital Marketing

Bitcoin is a cryptocurrency that came into existence in the year 2009, and since then it is gaining popularity. Many a blockchain magazine are published today on Bitcoin. Earlier, people considered it as hype, but it proved to be not. Today, the value of Bitcoin is continually growing and has become the cryptocurrency with the largest market capitalization. Just as this cryptocurrency is growing, the digital marketing industry is also progressing from the past years. Digital marketing is helping almost all businesses to improve their brand awareness and increase in sales. In this article, we will see whether Bitcoin can enhance digital marketing or not.

Digital Marketing

Digital Marketing became popular in early 2009, and since then, it has become an essential marketing strategy. It is the most recognized technique used by companies to sell products and bring brand awareness to the masses. Digital marketing consists of online marketing strategies like brand promotions on social media, email marketing, social bookmarking, infographics, blogging etc.

Bitcoin Can Enhance Digital Marketing Seems A Possible Thing

Several factors prove that if Bitcoin and digital marketing merged, both will mutually benefit.

Cryptocurrency is still a new concept, and most of the people are not aware of it. Digital marketing strategies used today can make Bitcoin more accessible to them. Bitcoin uses innovative technology, blockchain, which is pretty much secure than other technologies we use today. Although Bitcoin has the potential to increase business profits, still many of them are hesitant to adopt it because fiat currencies are dominating the financial world. 

Merits Of Bitcoin In Digital Marketing

 Above all, companies that accept Bitcoin will perform better in the future. Bitcoin will make new businesses more innovative and appealing to the public in the coming years, which will be possible by putting an alluring Bitcoin logo to the company’s profile page, which can attract a hundred of new clients to your business. An appealing Bitcoin logo can help you generate more traffic in social media profiles, which will ultimately boost your business.

Read more: The Effects Of Cryptocurrency Over Digital Marketing

Since cryptocurrency is a decentralized currency, using Bitcoin as a payment method will also relieve these digital marketing companies from third parties. The third parties, like banks and other financial institutions, charge a hefty amount as a transaction fee. This can be lowered with the use of Bitcoin as a transaction platform, as it makes the transaction cheaper. Moreover, transactions with the help of Bitcoin are faster than the traditional method we use today.

Data companies like google, facebook and Linkedin are some of the essential marketing platforms digital marketing agencies use for paid marketing and promotions. Marketing your products with the help of search engines like google, AOL, yahoo etc. is called search engine marketing. Today, we see a significant amount of google ads running in our web browsers. Search engine marketing is a costly digital marketing strategy and requires a reasonable budget. Moreover, Facebook and Linkedin also charge the right amount of money for running your advertisements on its pages.
 
Read more: What is the Greatest Benefit to Bit coin And Crypto currency in General?

Bitcoin will cut these paid marketing expenses, as it will eliminate these third parties. Digital marketing companies can put their advertisements on the blockchain network, which will reduce the spending from the part of third parties. With the use of blockchain technology, companies will be able to approach customers without collecting the data from third parties directly. 

Demerits Of Using Bitcoin

 A significant problem that digital marketing companies might face with the use of Bitcoin in their process is when it comes to collecting personal data about targeted customers. Today, these companies generally pay a large amount of money to google and facebook to get personal data about their customers. Google and Facebook help these companies to get customers that are categorized based on location, age, hobbies, gender etc.

If Bitcoin comes into the scene, it will be not easy for digital marketing companies to collect customer’s data. They will have to interact with the customers to fulfil their needs directly. Customers, on the other hand, will come in power regarding who is going to serve them.

Although customers will be going to dominate here, we can still see a positive side of it, as eliminating third parties will result in building stronger trust between advertising agencies and customers.

Conclusion

 Bitcoin is the most popular cryptocurrency with the largest market capitalization. Blockchain advisors say that it has brought a new digital revolution in this world by changing the way people interact with the businesses. Bitcoin can enhance digital marketing strategies we use today by eliminating third parties between customers and companies. Today, companies rely on google and facebook to promote their business, and it costs much expense. With the use of Bitcoin, new companies can get more benefits as they start with little or no budget. A significant problem while using Bitcoin in the marketing process will be collecting personal data of customers, but it is still a positive indicator of building trust among the customers. 

Author Bio

 Hi, This is Sujit. I am a  passionate writer and crypto enthusiast. I’ve been working for Cryptoknowmics which is there for the latest bitcoin news and let you know about future of ICO. I like to share new tips, tricks and trends related to Bitcoin, Cryptocurrency, and Blockchain. You can follow me on Twitter and Linkedin too.