Digital marketing has been in a constant state of transition since its inception, evolving more rapidly than traditional media in its short lifespan. From banner ads and pop-ups to PPC and SEO, digital marketing strategies must rapidly adapt to a changing online landscape. Nevertheless, the industry is often left playing catch-up to shifting consumer preferences.
The current paradigm is quickly changing the focus from the group to the individual. This transition is evident with the increased use of messaging and direct communication as tools to drive engagement in lieu of spamming web surfers with advertisements and videos whose returns are quickly diminishing Apart from creating a more direct conversation, it oftentimes helps to humanize companies and develop better two-way interactions that lead to more positive outcomes for both businesses and consumers.
Traditional Ads Are on the Way Out
With the heavy bombardment of advertising most Internet users suffer daily, it’s not surprising that banner ads and pop-ups continue to deliver worse results every year. Aside from being perceived as intrusive, it’s not just consumers that are looking less favorably on these tactics. The summer announcement from multinational Procter & Gamble publicizing their move to cut more than $100 million in digital advertising spending is just one of many signs that oversaturation is causing real problems. Furthermore, the company noted that the reduced expenditures had absolutely no impact on growth, highlighting the problem of casting wide nets that may end up collecting clicks from non-human traffic.
Even so, the one benefit derived from this occurrence is the innovative new strategies that are being used to improve overall engagement. One of the most touted shifts is coming from social media giant Facebook which is a crucial driver of the coming transition. The Messenger application is emerging as a new method for more direct communication between companies and customers, helping personalize the message and making targets feel more unique about the interaction. The conversational dynamic not only helps engagement but also communicate brand value without the need for a “hard sell.”
New Methods Push More Dynamic Relationships
Just as the marketing industry is starting to focus on creating more long-term funnels designed to raise awareness of a brand and improve awareness instead of going straight for conversion, new methods of engagement are sprouting up. Ultimately the goal is incentivizing users to buy products or services rather than attempting to trick them with clickbait that offers little value.
Aside from the obvious tack taken by Messenger to reach consumers more directly, marketers are pushing for more dynamic strategies that focus more attention on engagement than eyeballs reached. New models prioritize creating self-sustaining ecosystems that encourage consumers to be continuously engaged. Major companies are already making this transition, with many experiencing significant success.
However, for local businesses without the available resources to take a risk on an ambitious Messenger marketing funnel, there is a significant void. Current advertising giants like Facebook and Google suffer from inefficiencies that can prove costly for these small companies. Merchants find themselves receiving limited data pertaining to who saw the ads, who clicked, and who was converted. Furthermore, the interests of these major corporations are generating advertising revenue, putting them at odds with the needs of their customers.
Just like Messenger opened a whole new window of opportunity to build better interactions, gamification is delivering better engagement that is cost effective and relevant for businesses of all shapes and sizes. Newer advertising networks like HotNow are proving that both merchants and consumers can better fulfill each party’s needs by incentivizing collaboration and participation that rewards contributions.
Creating a New Model for Interaction
Connecting the online and offline worlds has been a longstanding quagmire facing internet marketers. Despite the distance, HoToken by HotNow is busily bridging the gap by combining blockchain and gamification to improve results for merchants and help consumers uncover discounts for their favorite goods and services. The company has built an ecosystem that revolves around HoToKeN, token consumers earn for participating whether by promoting a merchant via social media, bringing friends, or playing mission-based games. These tokens can then be used to unlock promotions and discounts from merchants involved in the ecosystem.
By design, this model breaks the stranglehold of the advertising giants by promoting a real value proposition for both consumers and merchants. Consumers gain access to discounted goods and services by contributing value to merchants whereas merchants collect valuable user data and convert online traffic into an offline business by rewarding consumers for their assistance. In this ecosystem, both parties win without the need for a middleman.
Furthermore, instead of a one-time boost delivered by Groupon-like strategies, this microeconomy help build loyalty and forge lasting relationships between stakeholders. Moreover, thanks to greater access to data due to the blockchain’s data recording abilities, merchants can quickly identify strategies that aren’t working and pivot, giving them better control over advertising budgets instead of feeling like ad-spend is a never-ending expense black hole.
The Demand to Evolve or Face Extinction
Just as Procter & Gamble decided to shift tactics and abandon strategies that were not delivering effective results, marketers must be willing to embrace new methodologies instead of throwing more money at a problem hoping for a solution. The more outdated models of quick conversions and short funnels are giving way to more direct engagement that is about driving awareness and displaying the value-added attributes of a brand in lieu of pushing products and services.
With strategies like deploying chatbots to Messenger campaigns and gamifying services to incentivize ecosystem participation, creative marketers have many new channels at their disposal to focus on developing more loyal users that are eager to be brand advocates and share their positive experiences. Tapping into that sentiment is the key to unlocking the true potential of online marketing over the long-term.
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency.
These Are the Crypto Influencers to Follow in 2019
Last year was supposed to be the year of blockchain. But bitcoin’s belly flop put a damper on public interest and mainstream adoption remains elusive. But blockchain pioneers made some important strides in 2018, and people are now using it to vote, deal in fine art, and microfinance entrepreneurs in refugee camps. Crypto evolved and even became a national currency for the first time.
The rough year for bitcoin and cryptos was offset by the hard work and creative developments from some very bright minds. These are the leaders and influencers taking crypto into the future this year.
Baldet left a high profile job developing blockchain for JP Morgan so she could launch her own dapp platform. She made Forbes’ 40 Under 40 list, and advocates for building bridges between the public and private sectors when it comes to blockchain implementation. Now she’s forecasting a dark vision of the future under surveillance capitalism, and giving us the keys to navigating it by thinking about our personal data as the new money.
As Forbes’ senior crypto editor, Shin was the first mainstream journalist to cover crypto…
The Top 5 Barriers to Mass Adoption – And How to Overcome Them
You can’t write an article about crypto without mentioning the latest market massacre. That would be like not talking about the elephant in the room. Many people in the industry are still too new to remember Bitcoin’s many bubbles. Yet this latest one is so epic because of the amount of money bleeding out. But is there a light at the end of the tunnel? Could bitcoin’s plummeting price hold the key to mass adoption?
Let’s take a look at the various factors getting in the way of mass adoption and how a lower price–along with removing these other obstacles–could be the trigger to crypto’s recovery.
This time last year, Bitcoin was approaching its all-time high of almost $20,000. Now it’s flirting with $3,000 with some analysts calling for a low of $1,500. That’s a staggering drop by anyone’s standards.
While there’s every possibility that the price will skyrocket back up again, such fluctuations are not for the faint-hearted. They’re also not suitable for use as a currency.
Plenty of stablecoins are in the market which may eventually leave Bitcoin behind as an everyday exchange of value. But they won’t make Bitcoin redundant. In fact,…
5 Token Launch Platforms to Consider
Token Launch platforms take away all the pain of designing tokens and developing smart contracts for ICOs. Thanks to the rise of UI/UX developers, you can create an ICO by simply choosing from drop-down menus. All of the token launch platforms reviewed below boast that you do not need to know to code to conduct your ICO.
This level of client-centricity is a welcome change in the ICO development phase which earlier stalled projects due to contract development issues. With time, that token launch platforms will begin to provide the level of customization expected by ICOs. The Blockchain space evolves rapidly and the route to success is paved with the number of your successful clients.
I reviewed 5 token launch platforms and rated them according to the following metrics:
- UI/UX — 10 points
- Features — 10 points
- KYC integration — 10 points
- Pricing — 10 points
Without further ado, let’s see how the top token launch platforms fared.
Arguably the grand-daddy of token launch platforms, Polymath specializes in security tokens. While ICOs vs STOs is a debate for another article, I sit firmly on the fence, for now. The Polymath platform requires…
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