Marketers are you ready for the next generation – Blockchain 2.0
Marketers, are you ready for the next generation – Blockchain 2.0
Blockchain technology is reaching maturity, a decade has gone by since the initial digital ledger was opened and the first virtual currency created. The Bitcoin blockchain open source peer to peer cryptocurrency has its flaws, which are no secret. Errors that have been accepted by the players of the mining game, others have been able to see the potential of the digital ledger.
These latters are the creators of the Blockchain 2.0, a new generation designed to provide services to a large range of markets. By now we already are observing creations of platforms specifically for the marketing industry. Other industries in which Blockchain 2.0 is potentially disruptive – Healthcare, Banking, Travel, Communications or Governments.
Counting with the above and knowing that even though decentralization is going to disrupt many aspects of industries, marketing will still be needed. Which means marketers are going to have to adapt to the new ways of exposing a service or product in the digital network.
Breaking it down
One of the first changes as a result of decentralization via Blockchain 2.0 is the reduction or elimination of third-part enterprises. Giving the producer and user, of the service or product a peer to peer connection that assures the third-party trust by means of block chain technology. As a result of this process, the sender of the message and the receiver of the message are much more likely to agree on a transaction. Unlike it’s perceived at present, where we observe huge quantities of content that is funneled to obtain ridiculous percentages of transactions.
The Goose Funnel
Marketers know too well the art of funneling to achieve the holy grail of KPIs and use many types and names. To construct a strategy that primarily grounds on mass communication, performed with CPC or CPM metrics. Producing vast amounts of content, targeted to a wide range of personas in the knowledge that 3%-10% will actually act upon the message.
What about the rest? We produce content and presented to another 97%-90% of personas, that we know and they know, that aren’t interested. This is a huge problem because in many cases they’ll be in that 90%. There’s no doubt about this, you just have to do a quick overview of the big bosses in the Internet game, e.g. Google, Facebook, Amazon, Microsoft, Apple. Most of these if not all of them developed a dark-side to their business that is coming to the light and is providing a real image of the Internet’s present nature.
A nature that is producing and feeding content to the users as if they were geese and the main product was the succulent paté. Not far at all from reality, so why not start to call things by their real name and consensus on the Goose Funnel as the archetype of the digital marketing industry. I must admit that I rejoice in a nice foie gras or paté, but this doesn’t mean I eat it every single day at all feeding times of the day! Which is basically what marketers (we) are feeding the online public.
A good nutrition is essential
That’s what all doctors and mother say to their patients and sons, because it’s true! This is also applicable to the marketing industry, as mentioned above. We need to start changing the diet of digital consumers to achieve a healthy and balanced dose of content. Less foie and more fruits and vegetables, easily digested and good for the cleansing of the system.
Unless us marketers take a stand, regardless of the explosion of blockchain technology, to accept only real and useful products or services to market. We’ll see the explosion of the users as their liver begins to swell and then death.
Blockchain is a great tool that marketers can put to great use, giving them the time to produce great content that can be sent to real interested customers without the necessity of going through the web of the big internet bosses. A peer to peer highway that is immutable and open to all and where a consensus is democratically enforced. This is what the digital ledger revolution is bringing into all industries. That is also aided by the IoT and the already here IoE, AI is almost usable and the quantum computers are at the corner. These are very exciting times for the digital era and the Internet has the chance to go back to its roots, where decentralization is the key component.
Marketer, are you ready?