Irrespective of whether you are an online marketer specializing in social media or you are a business owner utilizing social to reach consumers, it is vital that you understand social media is undergoing a dramatic shift at the moment.
Blockchain technology is currently disrupting various industries, and social media is one that is likely to experience the ramifications of this disruption. Businesses using social media to establish their brands, such as Twitter and Facebook, are soon to realize that all of the investment may have been for nothing. When blockchain technology alters, the platforms used by consumers and companies along with the means of networking will undergo an undeniable upheaval.
If you want to prepare your company for the future blockchain-enabled social network marketing, there are certain trends that you need to track closely. The trends will be discussed in the article below.
With an increase in ‘bot problems’ within the social media platform industry, such as Twitter and Facebook, companies are now searching for customer outreach platforms where they are able to increase marketing return on investment or ROI. The ability to engage with customers who have their identities verified using blockchain technology and smart contracts is attractive to company owners who do not want to market in the ‘black hole’ of social media; thereby, being vulnerable to fraudulent pay per click or PPC ad impressions.
Similar to the verification of identifies and its influence on blockchain-enabled social platforms, the verification of marketplaces is a trending topic as well. Virtual marketplaces are areas used to grow specific company needs and interact with like-minded companies or vendors. As blockchain technology becomes more prominent and mainstream, marketplace verification will increase a company’s potential for growth. The ability to market to verified vendors or companies will make marketing simpler as they will know what you are selling; thereby, reducing all marketing efforts while improving the time for ROI.
Blockchain technology and cryptocurrency is an exciting combination when placed on social media networking platforms as it is the future of these platforms suggests April Gilmore of ClickFirst. When a decentralized platform becomes mainstream, social media users have the option of platforms from which to network. An ability to earn small amounts of cryptocurrency for online activities can attract users to platforms where contributions to the platform growth are rewarded. For example, if you consider the amount of time you spend on current social media platforms, then imagine if each post you make earns you a small amount of bitcoin. This type of coded social media network is intriguing.
The fourth trend is the combination of cryptocurrency collectibles and blockchain technology and how it influences future social media usage. There is a growing interest in the cryptocurrency collectible industry, with early influencers including CryptoKitties raising millions of dollars for investor funding. While certain individuals may view this initial investment as nothing more than some mobile games, the fact of the matter is that the cryptocurrency collectible companies have plans to implement the games to platforms, such as Android or iOS. Once sub-markets are built atop the crypto-collectible game, the lure of this innovation becomes more defined.
Blockchain technology with its smart contracts can influence the use of fake content. In today’s social media platforms, it is easy for posts to become flooded with fake content from spam bots. Using blockchain technology, social media networks of the future will have present content distribution according to verified information and traceable data spread. This ability to block fake content with the contributors is very exciting for brand builders and marketers.
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