Amo Singh - Marketing Manager says ' Event Marketing Managers and Suppliers (event professionals) need to find an innovative way of getting attendees excited about giving feedback so event organisers and sponsors see real ROI?
Amo Singh continues to say 'I believe future marketing budgets must include a reward system where attendees say via an App get a token or crypto reward in return for their data. Blockchain technology could be the answer, who in our industry is testing such innovative platforms to deliver user satisfaction. Why are marketing managers and teams or event stake holders stuck on old legacy methods for collecting data? Surely by now with the technology and talent advances, the industry should be collecting data and rewarding those attendees. Event marketing managers talk about data and its value ratio based on ROI but do they really understand the ratio and does the formula need to be revisited?'
Amo Singh gives an example to back his ideas 'For example, suppose attendees share their data and experiences via an App that uses a "Smart Wallet" the cryptocurrency or token earnings can be redeemed to buy coffee or pay for parking fee(s) even electric car charging and so on. Those smart wallets should be or can be topped up using conventional payment methods'. Amo continues to say ' now is the future and if you want to collect data in sharing economy marketing teams and marketing stakeholders should be thinking about user incentives within the ecosystem called GDPR and paying for the data they want. Real growth is leveraged on ROI for event marketing teams when they start to test innovative ideas and out of the box technology so attendees and sponsors can truly have a transparent ledger for their investments.
The article was written by Amo Singh Digital Marketing Director at Jigsaw Conferences Ltd
Blockchain links all transactions and online behaviors for each customer, one of the biggest things marketers should be excited about is a more robust and rich unified profile for each and every customer. This is a goal that AI technology is already making possible, but blockchain takes direct-to-consumer digital marketing a step further with even greater accuracy in targeting and personalization, finally enabling marketers to deliver on the promise of marketing and achieve truly one-to-one interactions.
The demand from consumers to control their own data will grow in the next few years, and a blockchain is an excellent option with its permission-based access and hard-to-crack security. But blockchain alone won’t be enough. It’s one part of a technological solution. Compatible systems and applications will have to be built to make it universally possible to use blockchain encryption, but consumers (particularly in the US) will also have to be educated and demand it.
The potential of blockchain encryption is no myth, nor is it merely hype, and when you marry technology with consumer demand on a global scale, massive change can take place. In the next 5 years, blockchain encryption is going to rise up as a global security solution and as a way for individual customers to have control over their digital profiles. But even more than that, blockchain has the power to transform society in terms of brand transparency and the individual’s power and say-so over one’s own identity and all the data associated with that customer.