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NVISION Insights and Innovation Team
In Marketing Trends, Digital Marketing, Marketing Performance Measurement, Marketing Strategy, Online shopping, E-Commerce

How Blockchain Will Revolutionize
Marketing in 2019

With 2018 coming to a close, brands and organizations around the country are shifting their focus to 2019. Rapidly changing customer demands have left many marketing teams scrambling to capitalize on every advantage, while also making sure they can deliver the experiences customers want; convenience, flexibility, and affordability. For marketers, that’s where blockchain comes in.

What Is Blockchain?

If you’re not a mathematics or computer science Ph.D., the specifics of blockchain will be challenging to follow. But that’s okay – just about anyone can grasp the basics.

Put simply; blockchain is a digital record of ownership that cannot be altered or modified.

Whenever ownership or possession of something is transferred, both parties leave a sort of encrypted digital signature in the blockchain, like signing a ledger, that is verifiable by every other user in the world and cannot be altered or modified. So, why should marketers care about blockchain? Campbell R. Harvey and Christine Moorman at Harvard Business Review examine a few good reasons.

marketing-brainstorming

Blockchain Will Make Email Marketing More Effective

“Fraud verification via blockchain will also help verify the origin and methodology of marketers,” as HBR explains. *135 billion spam emails are sent every day, making up approximately 48% of all emails sent. Varying in sophistication, this tidal wave of fraudulent and unwanted emails has led to catch-all spam filters that dilute the effectiveness of email marketing for everyone.

But with blockchain, brands and marketers can verify their authenticity with an extremely small microtransaction (thousandths of a cent), thus proving their identity and eliminating the need for overreaching spam filters. And this will make email a more effective part of a multichannel engagement strategy for marketers everywhere.

Blockchain Will Make Real Marketing Revenue Attribution Possible

“By using blockchain technology to track their ads, marketing teams can retain control over their automation practices, ensure that marketing spend is focused on ROI-generating activities, and directly measure the impact of marketing down to a per-user, per-mail matric,” HBR predicts. And that has real upshot for marketers.

“By tying user behavior and micropayments together, blockchain could solve the attribution problem that has bedeviled marketers for decades.”

Indeed, given that blockchain works by keeping a record of a sort of transactional handshake, it could present the ultimate answer to attribution – a granular, user-by-user record of every single interaction of every single customer with your brand. That’s powerful marketing revenue attribution and opens up a world of possibilities into ROI accountability and analysis.

woman working on her laptop in the office

Blockchain Will Offer Better Customer Experiences by Making Personalization More Effective

Unlike credit card companies who charge a 3 percent fee to process payments, blockchain enables nearly zero-cost transactions. As a result, blockchain eliminates the need for “minimum purchases” to ensure profitability for brands. And marketers can use that to boost the effectiveness of personalized customer experiences and loyalty programs.

As HBR explains, “Blockchain could allow merchants to use micropayments to motivate consumers to share personal information – directly, without going through an intermediary [like paying Facebook or Google].” This means that brands can offer their customers a small reward for, say, allowing location tracking on their app, or even just opening the app for a minute at a time. “During that time, they push deals and special offers to the user. Indeed, user-tailored deals open a legitimate mechanism to deliver personalized prices that are a function of the consumer’s profile.”

With blockchain, marketers can deliver the granular personalization that not only builds brand loyalty but delivers superior customer experiences.

*****

Blockchain is more than just the latest buzzword. It’s a technological revolution, and the shortcuts to efficiency, security, and personalization. What it offers marketers are a big reason why brands will be leveraging it more in 2019. From customer experiences to email conversion rates, blockchain has a lot to offer marketing teams.

*Referenced source: The Statistics Portal

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Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

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NVISION Insights and Innovation Team
In Marketing Supply Chain, Marketing Operations

Five Tips for Choosing the Right Promotional Marketing Distributor

As competition continues to grow in every industry, it’s becoming more and more important for brands to be able to offer their customers and prospects a truly superior, personalized experience. That’s according to the Advertising Specialty Institute, who explains that to really impress your customers with promotional items, it’s absolutely critical to choose a distributor that offers the best service. Your distributor enables your business and their skill and service reflect upon your brand. That’s why ASI has identified five key qualities to look for in a partner.

Let’s take a look!

Low Prices

At the end of the day, nothing talks like money. And whether that’s costs, ROI, or revenue, it’s important to choose a distributor that offers highly competitive pricing for the production and delivery of promotional items. “Rather than slash your profit margins for the sake of winning a sale,” ASI explains, brands should work with a partner to secure affordable, consistent costs from the very beginning. That way, you’ll protect your margins, you’ll be able to save your customers money, and you’ll be able to capitalize on every promotional opportunity without breaking your budget.

Responsiveness and Flexibility

Customer demands are changing faster than ever, and it’s critical to work with a distributor who can respond with speed, agility, and flexibility. Whether you want to capitalize on a rapidly developing promotion (one centered around an event, for example) or just seize the latest trend while it’s still hot (fidget spinners, anyone?), your partner should specialize in fast turnarounds, quick changes, and ultra-responsiveness via a highly optimized supply chain. Don’t just meet your deadlines; exceed them.

man and woman looking at print samples

Attention to Quality

Promotional products may be inexpensive, but that doesn’t mean they can be low-quality. When you place your brand’s name and logo on a promotional giveaway, that product continues to represent your company in the mind of the recipient for weeks and months to come. Each time they use that bottle opener or thumb drive or shopping bag, they will think of you. If that product is low-quality or falls apart…well, that’s the level of quality they’ll associate with your brand.

It’s critically important to partner with a distributor who not only has a proven track-record of delivering high-quality products, but who maintains strict quality control practices as part of their workflow.

Past Reputation

It’s always wise to check any potential distributor’s previous history with customers. In this case, you want to choose one with a very high customer satisfaction rate and with plenty of positive testimonials. If a potential partner comes highly recommended, it generally means that previous customers have been happy with their services and products. Recommendations and testimonials are the ultimate receipt of satisfaction, so steer clear of anyone that can’t demonstrate a long list of happy customers.

Exceptional Customer Service

Customer service is now a core competency for any business worth its salt, and your promotional marketing partner should be no exception. The distributor of your choice should be quick to respond to inquiries and concerns, and should provide you with realistic, accurate timelines for things like production, delivery, and if necessary, returns. Your partner should value your business, because your business is their business. Don’t settle for anything less.

Subscribe to the Blog

Why NVISION?

For more than three decades we’ve partnered with Fortune 500 companies to deliver marketing operations solutions. Led by a strategic account management team, we’ll help you develop, procure, fulfill and distribute printed collateral, signage, point-of-purchase displays, direct mail, branded merchandise and much more.

LEARN MORE