July 25, 2021
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As the popularity of blockchain technology continues to grow, more and more businesses are looking for ways to incorporate it into their operations. One area where this is particularly evident is in the field of lead generation. In this article, we'll take a look at how NFTs can be used in lead generation and some of the benefits this approach offers.
It is true that the current, widely used lead generation methods are inefficient, user intrusive, and may use data from questionable sources. They also lack data quality and reporting integrity. Additionally, they produce low-quality, high-volume campaigns that have low conversion rates. As a result, businesses now disapprove of traditional digital advertising channels like Facebook andGoogle and are looking into more cutting-edge, futuristic, and efficient ways to acquire leads.
Traditional lead generation avenues have certain drawbacks. For example, companies cannot ascertain a favorable Return on Investment (ROI) considering their high operation costs. Moreover, they require a significant investment in resources.To improve the above challenges, companies have to change their traditional lead generation. There by adopting blockchain technology and smart contracts to create new marketing avenues that are transparent, decentralized, and efficient at cost-effectively acquiring leads.
We'll explain what blockchain is in this article and how through NFTs it is changing lead generation.
Blockchain is a public ledger qualifying as the system behind cryptocurrencies such asBitcoin, Ethereum, and Litecoin. Dubbed the ‘next internet’, blockchain technology allows for immutable records of transactions made and for easy tracking across a peer-to-peer linked network.
When buying NFTs, transactions happen through cryptocurrencies like Bitcoin, and this information is stored in Blockchain. Recent statistics by Meet glimpse reveal that the interest in NFT trading rose 270% in the past year compared to the previous one, pushing the search volume for NFT-based membership to 13k searches each month as of November 2022. Yet, the interest in NFT-based memberships rose 177% during the same period, pushing the current monthly search volume to about 2.5k searches.
Here are ways that blockchain technology can improve lead generation:
The blockchain-based network promotes data integrity by storing every detail and change made in every part of the transaction. It means that when buying the NFT, you can see previous owners and authenticate the information since the recorded transactions are immutable.
Let’s face it; no one loves ads. They are annoying, intrusive, and sometimes irrelevant. However, the beauty of using blockchain in lead generation is that you can improve the way users interact with ads by tweaking it to their advantage. By understanding the stage at which your lead is in their purchasing journey, you get to curate an ad serving that optimizes their needs. Such leads to fewer and better quality ads, improving cost efficiency.
Access to high-quality leads means you have a higher probability of conversion since they are one or two steps away from conversion than generic leads.
Transactions on blockchain are immutable, hence fraudsters have a difficult time trying to tweak information to their advantage. A blockchain-based asset is highly traceable since it is almost impossible to hack. Such offers investors advanced security and confidence in their data and investment decisions and promotes accountability, transparency, and information safety.
The use of non-fungible tokens (NFTs) has been touted as the future of marketing. This is because of its potential to transform lead generation and; aid marketing professionals in their never-ending quest to help asset investors make better use of data. The interconnected system involving blockchain technology, crypto assets, and crypto trading platforms along lead generation practices provide a unique opportunity for companies to expand their market base. A big contributor to this is the ability to optimize current practices by blockchain’s unprecedented security and transparent system. Here are four ways we've been speculating of the combination of these to technology types
NFTs are a type of digital asset that is one-of-a-kind and cannot be duplicated. In digital marketing, they are frequently used to represent goods or services that have been purchased or consumed. This is equivalent to a tiny computer that can be programmed to send and receive data via the blockchain. The owner is identified by software embedded within the item. As a result, trust nodes are formed, allowing you to know that what you own is genuine, authentic, and trustworthy.
Using NFTs in marketing can be used to track the ownership of digital assets, to create digital scarcity, and to manage digital rights, such as advertising rights. The best practices for using NFTs in digital marketing within marketing agencies include using them to create one-of-a-kind digital products within the advertising space in order to create advertisements for their clients. As many businesses now use ad templates for their clients, using an NFT to track the entire marketing platform ensures that marketing agencies adhere to ethical standards.
One thing that businesses and companies are leveraging right now is the use of NFTs to create a sense of community for their clients. NFTs allow you to offer your ideal clients a unique and personalized experience exclusive to them. These could vary from exclusive merch to invite-only access, real estate, early access, discounts, and exclusive banking options- you name it.
For instance, released in 2021, the Bored Ape Yacht Club (BAYC) is an NFT collection built on the Ethereum blockchain that offers its club members enviable exclusivity. These include exclusive access to the Yacht club, which is a members-only merchandise store. Besides, members can also access additional NFTs like a free Bored Ape Kennel Club, which non-members have to pay full price for.
Another typical example is the Flyfish Club, the first NFT restaurant in the world. Located in New York City, the Flyfish Club uses theNFT as a membership card for an access pass. Such allows people interested in dining at the restaurant to purchase the Flyfish NFT. Besides enjoying the culinary experience, members also get access to exclusive social and cultural experiences.
What you can do as well is, once you buy an NFT, research ways of token-gating it for your ideal clients. Find their career or lifestyle pain points, what they like, and where they need help. Now, use this information to create accurate and realistic exclusive deals that will add value to the NFT and the members. Steer away from generic deals. Let non-members hate from outside the club.
Advancements in inbound marketing have led to an increase in automation. Blockchain technology has the potential to take the automation process further by decentralizing the entire lead generation process. Thus, connecting companies directly with consumers. With the advent of AI, there is increased efficiency and effectiveness in lead generation. For example, in the B2B niche, automated chatbots can be used to initiate conversations with potential customers by sending them personalized messages that contain business information relevant to their specific interests or needs. In this case, A.I. is used as a tool for conversion as opposed to just a means of initiating contact with leads.
The use of blockchain technology promotes systems automation since the companies that deal with large organizations can now automate the entire system, allowing them to see every moving part. Hence, Fortune 500 companies like Walmart and ToyotaMotors would now be more interested in purchasing leads from companies because they have a full end-to-end system in place that upholds their own very high standards than relying on third parties.
The use of NFTs allows the generation of more accurate marketing data. Couple that with automation, and companies will have a ‘cheat code’ capable of getting them leads every other day. By using automation in lead generation, companies will generate reliable leads on autopilot, personalize communication, and convert them.
Blockchain technology promotes security by ensuring that stored data follows advanced security protocols. Each digital token is unique and fosters anonymity on the platform, enabling privacy and reducing the chance of fraud and attacks from hackers.
Thanks to blockchain technology's encryption, it is virtually impracticable to change, omit, or add information once stored. NFT buyers can seek help from blockchain to foil unapproved access or maintain an unchangeable record.
Besides, the digital world has gotten to a space where violation of privacy has become an everyday concern. The good thing is that by using NFTs in lead generation, investors need not worry about the privacy and security of their data. The information collected is more specific, up-to-date, and secure. Such gives potential investors the freedom to invest without worrying about the safety of their private information.
With concerns about data quality and integrity, using blockchain in lead generation becomes a viable option for eliminating all risks. That is, everything from ad click to form entry, personal information details, validation, and data collection and delivery will be recorded on the blockchain.
The NFT is then sought after as a product that includes a database of whatever lead generation data was gathered. The NFT comes with the security of being one-of-one, complete transparency of the data, and the additional benefits of being a member of an exclusive group of elites in the lead generation field.
While using NFTs in lead generation could have amazing benefits, there are some potential drawbacks to doing so. First and foremost, there is no guarantee that NFT buyers will use the accompanying databases. Furthermore, it is unclear whether there will be sufficient demand for lead-generation NFTs to form a viable business proposition. Nonetheless, it will be interesting to see how businesses pursue this futuristic concept of using NFTs as a lead generation tool.
It remains evident that the use of NFTs continues traversing the digital space from wealth acquisition and investments to brand growth and lead generation. Companies sleeping on their potential like advanced security, automation, and refined ad targeting are yet to see why blockchain came to save the day. Bearing the potential drawbacks, using NFT in lead generation is a fascinating concept that we cannot wait to see flourish.
As the popularity of blockchain technology continues to grow, more and more businesses are looking for ways to incorporate it into their operations. One area where this is particularly evident is in the field of lead generation. In this article, we'll take a look at how NFTs can be used in lead generation and some of the benefits this approach offers.
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It is true that the current, widely used lead generation methods are inefficient, user intrusive, and may use data from questionable sources. They also lack data quality and reporting integrity. Additionally, they produce low-quality, high-volume campaigns that have low conversion rates. As a result, businesses now disapprove of traditional digital advertising channels like Facebook andGoogle and are looking into more cutting-edge, futuristic, and efficient ways to acquire leads.
Traditional lead generation avenues have certain drawbacks. For example, companies cannot ascertain a favorable Return on Investment (ROI) considering their high operation costs. Moreover, they require a significant investment in resources.To improve the above challenges, companies have to change their traditional lead generation. There by adopting blockchain technology and smart contracts to create new marketing avenues that are transparent, decentralized, and efficient at cost-effectively acquiring leads.
We'll explain what blockchain is in this article and how through NFTs it is changing lead generation.
Blockchain is a public ledger qualifying as the system behind cryptocurrencies such asBitcoin, Ethereum, and Litecoin. Dubbed the ‘next internet’, blockchain technology allows for immutable records of transactions made and for easy tracking across a peer-to-peer linked network.
When buying NFTs, transactions happen through cryptocurrencies like Bitcoin, and this information is stored in Blockchain. Recent statistics by Meet glimpse reveal that the interest in NFT trading rose 270% in the past year compared to the previous one, pushing the search volume for NFT-based membership to 13k searches each month as of November 2022. Yet, the interest in NFT-based memberships rose 177% during the same period, pushing the current monthly search volume to about 2.5k searches.
Here are ways that blockchain technology can improve lead generation:
The blockchain-based network promotes data integrity by storing every detail and change made in every part of the transaction. It means that when buying the NFT, you can see previous owners and authenticate the information since the recorded transactions are immutable.
Let’s face it; no one loves ads. They are annoying, intrusive, and sometimes irrelevant. However, the beauty of using blockchain in lead generation is that you can improve the way users interact with ads by tweaking it to their advantage. By understanding the stage at which your lead is in their purchasing journey, you get to curate an ad serving that optimizes their needs. Such leads to fewer and better quality ads, improving cost efficiency.
Access to high-quality leads means you have a higher probability of conversion since they are one or two steps away from conversion than generic leads.
Transactions on blockchain are immutable, hence fraudsters have a difficult time trying to tweak information to their advantage. A blockchain-based asset is highly traceable since it is almost impossible to hack. Such offers investors advanced security and confidence in their data and investment decisions and promotes accountability, transparency, and information safety.
The use of non-fungible tokens (NFTs) has been touted as the future of marketing. This is because of its potential to transform lead generation and; aid marketing professionals in their never-ending quest to help asset investors make better use of data. The interconnected system involving blockchain technology, crypto assets, and crypto trading platforms along lead generation practices provide a unique opportunity for companies to expand their market base. A big contributor to this is the ability to optimize current practices by blockchain’s unprecedented security and transparent system. Here are four ways we've been speculating of the combination of these to technology types
NFTs are a type of digital asset that is one-of-a-kind and cannot be duplicated. In digital marketing, they are frequently used to represent goods or services that have been purchased or consumed. This is equivalent to a tiny computer that can be programmed to send and receive data via the blockchain. The owner is identified by software embedded within the item. As a result, trust nodes are formed, allowing you to know that what you own is genuine, authentic, and trustworthy.
Using NFTs in marketing can be used to track the ownership of digital assets, to create digital scarcity, and to manage digital rights, such as advertising rights. The best practices for using NFTs in digital marketing within marketing agencies include using them to create one-of-a-kind digital products within the advertising space in order to create advertisements for their clients. As many businesses now use ad templates for their clients, using an NFT to track the entire marketing platform ensures that marketing agencies adhere to ethical standards.
One thing that businesses and companies are leveraging right now is the use of NFTs to create a sense of community for their clients. NFTs allow you to offer your ideal clients a unique and personalized experience exclusive to them. These could vary from exclusive merch to invite-only access, real estate, early access, discounts, and exclusive banking options- you name it.
For instance, released in 2021, the Bored Ape Yacht Club (BAYC) is an NFT collection built on the Ethereum blockchain that offers its club members enviable exclusivity. These include exclusive access to the Yacht club, which is a members-only merchandise store. Besides, members can also access additional NFTs like a free Bored Ape Kennel Club, which non-members have to pay full price for.
Another typical example is the Flyfish Club, the first NFT restaurant in the world. Located in New York City, the Flyfish Club uses theNFT as a membership card for an access pass. Such allows people interested in dining at the restaurant to purchase the Flyfish NFT. Besides enjoying the culinary experience, members also get access to exclusive social and cultural experiences.
What you can do as well is, once you buy an NFT, research ways of token-gating it for your ideal clients. Find their career or lifestyle pain points, what they like, and where they need help. Now, use this information to create accurate and realistic exclusive deals that will add value to the NFT and the members. Steer away from generic deals. Let non-members hate from outside the club.
Advancements in inbound marketing have led to an increase in automation. Blockchain technology has the potential to take the automation process further by decentralizing the entire lead generation process. Thus, connecting companies directly with consumers. With the advent of AI, there is increased efficiency and effectiveness in lead generation. For example, in the B2B niche, automated chatbots can be used to initiate conversations with potential customers by sending them personalized messages that contain business information relevant to their specific interests or needs. In this case, A.I. is used as a tool for conversion as opposed to just a means of initiating contact with leads.
The use of blockchain technology promotes systems automation since the companies that deal with large organizations can now automate the entire system, allowing them to see every moving part. Hence, Fortune 500 companies like Walmart and ToyotaMotors would now be more interested in purchasing leads from companies because they have a full end-to-end system in place that upholds their own very high standards than relying on third parties.
The use of NFTs allows the generation of more accurate marketing data. Couple that with automation, and companies will have a ‘cheat code’ capable of getting them leads every other day. By using automation in lead generation, companies will generate reliable leads on autopilot, personalize communication, and convert them.
Blockchain technology promotes security by ensuring that stored data follows advanced security protocols. Each digital token is unique and fosters anonymity on the platform, enabling privacy and reducing the chance of fraud and attacks from hackers.
Thanks to blockchain technology's encryption, it is virtually impracticable to change, omit, or add information once stored. NFT buyers can seek help from blockchain to foil unapproved access or maintain an unchangeable record.
Besides, the digital world has gotten to a space where violation of privacy has become an everyday concern. The good thing is that by using NFTs in lead generation, investors need not worry about the privacy and security of their data. The information collected is more specific, up-to-date, and secure. Such gives potential investors the freedom to invest without worrying about the safety of their private information.
With concerns about data quality and integrity, using blockchain in lead generation becomes a viable option for eliminating all risks. That is, everything from ad click to form entry, personal information details, validation, and data collection and delivery will be recorded on the blockchain.
The NFT is then sought after as a product that includes a database of whatever lead generation data was gathered. The NFT comes with the security of being one-of-one, complete transparency of the data, and the additional benefits of being a member of an exclusive group of elites in the lead generation field.
While using NFTs in lead generation could have amazing benefits, there are some potential drawbacks to doing so. First and foremost, there is no guarantee that NFT buyers will use the accompanying databases. Furthermore, it is unclear whether there will be sufficient demand for lead-generation NFTs to form a viable business proposition. Nonetheless, it will be interesting to see how businesses pursue this futuristic concept of using NFTs as a lead generation tool.
It remains evident that the use of NFTs continues traversing the digital space from wealth acquisition and investments to brand growth and lead generation. Companies sleeping on their potential like advanced security, automation, and refined ad targeting are yet to see why blockchain came to save the day. Bearing the potential drawbacks, using NFT in lead generation is a fascinating concept that we cannot wait to see flourish.
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Suspend varius enim in eros elementum tristique.iet. Nunc ut sem vitae risus tristique posuere.
Lorem ipsum dolor sit amet, conse. Duis cursus, mi quis viverra ornare, eros dolor interdum nulla, ut commodo diam libero vitae erat.
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