Time for Marketers to take Cryptocurrencies Seriously. Cryptocurrencies have been present for more than ten years but they have started to gain serious traction in the last couple of years. During that time, they have become a serious factor in many industries and the predictions indicate that they will become even more important in the future. Some of those predictions are even saying that cryptocurrencies will revolutionize the financial market very soon.
Cryptocurrencies have been ignored by marketers for a long time but it seems that the time has come for them to pay a lot of attention to this market as it is becoming more and more popular. One of the biggest advantages of these cryptocurrencies is the fact that they can be traded or used for purchases completely anonymously almost without leaving any digital footprint. Because of that, marketers had a tough job of collecting data about this market and that could have been the reason why they have not been involved in this business so far.
Gathering Relevant Information
Currently, it is much easier for marketers to use platforms such as Google or Facebook to launch their businesses because it was much easier for them to collect data from those companies in order to specify their target groups. Considering that cryptocurrencies guarantee anonymity, it is very hard for marketers to determine who bought what and to include those people into their target groups. With cryptocurrencies, individuals have much bigger control over the use of their personal information than it is the case with any other currency or platforms such as Google and Facebook.
Despite that, marketers will have to find a way to collect information if they want to stay relevant in the market because more and more people are becoming involved with cryptocurrencies. If they fail to do that, they will be left behind and they will not be able to track what the customers need or want. True, the process of collecting data about cryptocurrency transactions might cost more but that is a risk that marketers will have to take in order to stay relevant.
Digital Currencies Paving Way for the Future
Some have claimed that one of the ways in which marketers can collect information is by paying individual users for their information. As we have mentioned, that might be costly, but that is something that marketers will have to seriously consider in the upcoming period. Other popular social platforms such as Steem or 21.co allow marketers to reach the users in order to get information. However, that is currently not possible with cryptocurrencies as anonymity is the holy grail of the cryptocurrency market.
Some marketers might say that cryptocurrencies do not affect their business in any way. That might be possible, but the rise of cryptocurrencies tells a lot about the digital trends that have been popular in the world. Increasing number of people are turning to the digital assets and even if they do not get involved with the cryptocurrencies, marketers will have to find a way to be a part of those digital trends in the future. Google and Facebook might have been enough for the past five to ten years, however, a lot of things will change in the upcoming five to ten years and many experts are sure that Google and Facebook will be just small players in the digital world.
Written by Ivan Potocki
Looks like Cryptocurrencies trending!
I really didn’t expect Cryptocurrencies to grow this much big.. looking to get more details about it.