As with other marketing revolutions, there are three developments to watch:
- Agencies will lead the way to gain a competitive advantage and show value to clients. But, most brand marketers will still move slowly.
- Getting most consumers to change their behavior isn’t easy.
- Innovation occurs because there is a problem that needs solving.
Yet, the “onramp to the blockchain/crypto highway in marketing can be found all around us, right now,” according to the article. Here are some reasons to believe.
- Payments: the rise crypto credit cards, buy now, pay later (BNPL) platforms, and the ability to use crypto as payments in many places tells us that crypto already has a foothold.
- Analytics: “The use cases for oracles like Chainlink, querying tools such as The Graph and onChain analytics have only scratched the surface of their potential for brand marketers,” according to the article.
- Content creation: A decentralized ledger may be a gamechanger when it comes to protecting copyrights
- Social media: It’s been driving the brand marketing playbook for the last several years and that should continue.
- Loyalty: A big challenge with these programs is to create a currency that truly motivates members. As experiences gain prominence over getting “stuff,” the digital / real world experience is “an exciting new frontier.”
- Gamification: “Brands will gamify marketing strategies of their own in a semi-decentralized way, and even create their own play-to-earn games,” according to the article.
- Ingredient brands: It is not hard to imagine the blockchain a product is built on becoming an “ingredient brand” similar to the relationship between Visa and the bank issuing a credit card.
“If history is any guide, the decentralized digital future will fundamentally change how marketing is done,” according to the article.