- 25 June 2018
- Posted by: Staff
- Category: Brief consultancy, Cryptocurrencies
As blockchain technology continues to grow in popularity and becomes increasingly more advanced, we take a look at how it’s set to make a positive impact on your social media campaigns.
With Microsoft recently announcing that they’ll be using blockchain technology to pay game developers, it’s no wonder why businesses from around the world are looking at the many possibilities it can offer.
One of these includes the role blockchain technology can have in the social media realm.
Here are just a few examples to whet your appetite.
Better information and news verification
Following the recent scandals, Facebook has been rigorously checking and deleting any fake news articles and false accounts.
However, blockchain technology has the power to stop this from even happening in the first place.
This new technology can follow a strict verification process, checking identities, information and any data that is posted via any social media platform.
From a business point of view, you should start to see huge wholesale changes across social media platforms, especially on Facebook. In essence, this should make your experience posting on social media a lot more accurate and true. After all, how many times do you generate thousands of likes from spoof accounts but don’t receive any significant form of click-throughs?
A verified social media platform could also make paid campaigns a lot more streamlined and precise too. Enabling you to target certain demographics, without your budget being wasted on dormant account users.
Better advertisement opportunities
Paying Facebook and LinkedIn for advertisement space can cost your business a huge sum of money. What’s more, with a huge emphasis on the misuse of data via social media, users are becoming a lot more switched on to any advertisement campaign hitting their feeds.
Blockchain technology can give users the control of their information and the power to only share it with whomever they wish to. As a business, users can actively opt-in to receive these kinds of advertisements, meaning the social media provider (or the middleman) is cut out of the process.
This can save you money and enable you to target highly engaged customers who are more likely to buy. Blockchain technology’s ability to store data securely without a central entity will cut out the guessing work when running advertising campaigns on social media.
Better ways to raise money
Blockchain technology is also hugely beneficial to start-up businesses using crowdfunding campaigns to raise funds.
ICOs are developed to protect investors’ personal information and comply with anti-money laundering (AML) and know your customer (KYC) regulations.
Social media gives businesses the opportunity to easily attract new investors while giving them the peace of mind that their data won’t be shared and misused.
Naturally, major social media platforms may argue that not attaining users’ data is negative. But in theory, following the ongoing misuses of information and new GDPR stipulations, investors may feel more comfortable backing your cause when they know they can do so without the likes of Facebook and LinkedIn using their data for their own benefit.
The reality is, social media is changing to reflect a more safe and secure way of storing and sharing data. Whether it’s giving investors an easier way to participate in crowdfunding campaigns or removing dormant and fake accounts, blockchain technology can create a social world without the need of a biased middle entity.
Businesses will profit from more targeted campaigns and customers will benefit from a safer and hassle-free experience. After all, social media is supposed to be fun!