Brands Arming Themselves With Blockchain And AI To Capture Consumers’ Mindshare
“Capture the mindshare and the market share will follow,” says the author Libby Gill. Today, consumers are interacting with brands across multiple channels. Brands are fighting a fierce battle to grab consumers’ mindshare and boost the lifetime value of customers.
It has become increasingly difficult to nurture prospects as engagement rates continue to decline on many digital marketing channels. So, brands are turning to cutting-edge technologies like blockchain and artificial intelligence to stay on top of the game.
Brands Step Up MarTech Spending
Since last year, there has been a dramatic shift in the way brands approach marketing. According to the Portada Insights Report 2021, businesses have ramped up their investment in MarTech by a staggering 150% before the pandemic.
According to the report, brands have been reducing their spending on advertising and promotion since 2020. They have ramped up investments in MarTech solutions. In short, brands are shifting their efforts away from traditional initiatives to cutting-edge solutions that meet consumer expectations and drive results. Some of the world’s most powerful brands, such as Unilever, McDonald’s, and Nestle, have also been using blockchain in their digital marketing efforts.
Social gaming platform Wasder recently turned to blockchain-based MarTech solution Ojamu to help it optimize its digital marketing efforts. Wasder operates in a fiercely competitive gaming and esports vertical, so it needed unique consumer insights and an effective digital marketing strategy to penetrate the market.
Blockchain Solution Could Improve Campaign Effectiveness
Singapore-headquartered Ojamu leverages blockchain and artificial intelligence to help brands gain an unfair advantage over their rivals. Ojamu’s Intelligent Platform uses AI algorithms to obtain hundreds of millions of real-time data points in the target industries.
Ojamu has a Neural Predictive Engine, which analyzes the data and applies its predictive algorithms to create the most effective marketing strategy for brands, products, and services. The Neural Predictive Engine generates an easy-to-execute marketing campaign with the highest ROI potential across different channels such as social media, online publications, email marketing, podcasts, etc.
The MarTech platform’s AI tools connect with non-fungible tokens (NFTs). With the NFTs, brands get access to an industry vertical’s key data points as well as cross-correlating data that could give them previously unknown insights.
Ojamu relies on decentralized storage platforms to fragment users’ data and distribute them across many nodes to avoid a single point of failure. It eliminates the risk of data mishandling, privacy leaks, and data frauds, which could wreak havoc.
Consumers are more inclined towards brands that connect with them and understand their deeply-felt needs, emotions, and aspirations. The ever-changing consumer motivations and behaviors make it challenging for brands to understand consumers deeply. Blockchain-based MarTech solutions are figuring it out for them.
Conclusion
Digital marketing is undergoing a major shift amid falling engagement rates, data breaches, and the push for online privacy. Brands have started leveraging cutting-edge technologies like blockchain and artificial intelligence to run successful digital marketing campaigns and nurture meaningful relationships with customers. MarTech solutions like Ojamu are helping them stay agile and explore new opportunities.
