How Blockchain Technology Will Change The Marketing And Advertising Industry

The blockchain technology has created quite a buzz last few years. People are talking about this technology, bitcoins and cryptocurrencies and how these would change the landscape of many industries. Now, what is this new technology actually?  The blockchain is a decentralized database that stores encrypted records. This system is unhackable. Every transaction stored in the blockchain is done in bitcoins.

A huge number of computers verify the information on each block and come to a consensus. So, information that is stored in the blockchain doesn’t need any verification by a third party like banks or other institutions. The business sector will experience huge change because of the blockchain technology. This technology can be very useful in marketing. Affiliate marketing and multi-level marketing (MLM) have been used as a means of promoting products for a long time now.  The blockchain technology can make these types of marketing strategies more efficient. This technology will be useful in the following ways.

Smart Contracts

These are digital contracts that can be made between two parties. The details of the contracts are stored in the blockchain. So, whenever marketing dealings take place, these smart contracts can be used to make the deals. These smart contracts will be useful in tracking the activities of the parties of MLM and affiliate marketing. For example, if a person clicks on a referral link then a smart contract will be formed and the activity of the person will be recorded. The data that is stored in the smart contract cannot be manipulated.

Use Of bitcoin

Bitcoins will make affiliate marketing cheaper. In transactions, bitcoins will be used instead of the paper money we use today. So, there is no hassle of currency change and other problems. Even if this is true, with the many cryptocurrency investment opportunities emerging daily, we have to consider that not all opportunities are sincere and transparent. While most promise to multiply your earnings without any extra time invested, others work by investing your money into mining these precious coins. One such cryptocurrency with several investment plans is USI- tech. Before investing, make sure you do your research in understanding how USI Tech works like a ponzi.

Fraud Detection

Using blockchain technology it is possible to find out where clicks are coming from. The technology can differentiate between actual people and automated processes. Javascript code will be embedded inside a pixel beside the referral link. So, advertisers will know who has clicked and can send the payment to that person. This system can be used to track fraudulent activities.

Prevent Loss Of Information

Traditionally, all the information related to affiliate marketing are stored in a centralized database. If the server goes down accidentally, then there is a chance that all data will be lost. So, companies will lose both valuable information and money. In case of blockchain technology, all the information are stored on numerous computers.

As the database in blockchain technology is decentralized, the breakdown of servers won’t have any effect on the data stored. The information in the central database can be prone to hacking or human error. But information stored in the decentralized database in blockchain technology is free from hacking and errors.

Easy Ad Verification

No auditing company is needed to verify your ads. The verification will be done automatically using the blockchain technology. So, you will save a lot of money. You won’t become a victim of ad fraud as the advertisements recorded on blockchain cannot be tampered. The technology will also ensure that the ads are being delivered to the right place.

Transparency

The entire ad campaign can be tracked. So, you will know how much money was spent on making the ad, how many people have viewed the ad and what is the conversion rate, etc. The advertisers will be able to measure the actual performance of their ads.

The popularity of blockchain technology is rising. It will act as a scalable platform for MLM opportunities in future. This technology offers smart contracts, secure payment methods, and transparent activities. Transactions will be faster as there won’t be any intermediaries. International payments can be made easily with bitcoins. Transactions can take place very fast without the interference of banks. So, the overhead costs of transactions will be very low. The information stored in the blockchain is accurate and timely. You can access it from any part of the world. Data is free from any malicious attacks once it’s in the blockchain.

Marketing is a field that is full of third parties. The blockchain technology can cut down these intermediaries and provide services directly. In case of network marketing like MLM and affiliate marketing, those who make referrals can be paid directly. This will make the payment process quicker and hassle-free. The advertising and marketing industry will change drastically once blockchain technology is widely implemented.

Tips On Building A Legit Network Marketing Business Online

Network Marketing is often called Direct Selling, Affiliate Marketing, or Multi-Level-Marketing(MLM). It is an honest, viable business structure. It is designed to build a marketing and sales force by compensating not only sales made by the individual but also the sales made by the people that individual has introduced to the company.

This structure effectively moves the task of building and supporting a sales force away from the company and onto the individual. The company benefits from this because it can focus on the product instead of building a sales force and the individual benefits because it can hire others and make overrides on their efforts in addition to their own.

A company can use the structure to create a sales force quicker and easier than traditional means. That may be critical to the company’s success, particularly if the company has a new hot product.

What Network Marketing Is Not

Network Marketing is not a pyramid scheme. It is not a scam. A pyramid scheme is illegal, Network Marketing is not. A pyramid scheme is a business setup where the primary and many times the only way to be compensated is to recruit others into the business. In a pyramid scheme, there is essentially no product. Instead you simply sell “nothing” to others in order to get them to join.

While con artists will attempt to use the structure as a guise for their pyramid schemes, it doesn’t mean all companies that use Network Marketing as a sales structure are themselves a pyramid scheme. In fact, it is fast becoming a recognized structure among business leaders today, including Donald Trump.

It has also been used in part by respected companies such as PayPal, AT&T Wireless, Wachovia, and Vonage. It is also not a get rich quick scheme. As with any business, no matter the structure they choose to employ, you have to work to be paid. The same is true of Network Marketing. However, even though it doesn’t offer instant riches, it does offer some unique advantages over traditional employment opportunities.

Why Network Marketing

Network Marketing is a not a get rich program but instead a real business opportunity and one that requires real work. That being said, the unique advantages offered by Network Marketing are incredible compared with what’s available in the traditional job market. First, you get to set your own hours. You are effectively your own boss.

So if you do not feel like working one day then you do not have to. Of course it goes without saying that just because you can doesn’t mean you should. But it is nice to know that you could if you wanted to. Another way to look at setting your own hours means that you can literally work as much as you want. You set your business hours and can operate whenever you want. This provides the potential to increase your earnings simply by working harder.

The second great benefit is the ability to work from home. We all hear about the work-from-home scams that are posted on those little signs on telephone poles along the roads. Well, unlike most other work-from-home offers, it truly allows you to work from home, provided you have the bare essentials to do business.

By bare essentials, I mean a phone line and a computer if you need one. But you should consider that while working from home sounds great, it does require a certain level of self discipline to keep focused and get some work done.

Finally, the single greatest thing is the truly amazing opportunity that exists when they first begin. Imagine being there when Bill Gates decided to start Microsoft or when Google was first starting up and actually having a chance to join. Network Marketing provides that same kind of opportunity.

Of course joining a Network Marketing company can be beneficial at any time but it is exponentially true when the company is just starting out. The expression of get in on the ground floor has a certain truth to it when regarding Network Marketing companies. This is mostly due to the fact that the earlier you get in, the more people you will have under you. That isn’t to say that you shouldn’t join a company that is well-established and been around for a while.

For example, Mary Kay is still a viable business and you can make some money in that company. However, you have to consider that to get into the company you will be going underneath someone and that person is underneath someone else and so on. Imagine being that first person way up the chain that has thousands of people below them. That is the opportunity that exists by getting in early with a company. Learn more about different network marketing models with this amazing review: https://supplementpolice.com/network-marketing-mlm-company-review/

Examples Of Network Marketing Gone Wrong

Networking Marketing companies, like any other business out there, can be fraudulent, unethical, and in certain cases just plain scams. However, when a single business is caught in a scam, say an investment banker, it looks bad for the investment banker but not necessarily for investment banking as a whole.

The same is not true of Network Marketing. When one Network Marketing company is caught in a scam people take the assumption that this one bad company represents all Network Marketing. We have all heard of people getting scammed by Network Marketing companies that go out of business, never end up paying out, or simply prove too hard to make a profit in. I’d rather not point fingers but a certain MLM comes to mind.

This particular company recently boasted in a national magazine that they had sales of over $2 billion dollars a year. Right below this they said they had over 1 million distributors. For those who can divide, that’s only $2,000 per year per distributor. That’s assuming all distributors were performing the same.

In reality, the top 5-10% made decent money while the rest made pocket change or even lost money. In an Independent Business Owner Compensation Plan released by the company itself, it stated that the average distributor earned $115 per month or $1,380 per year BEFORE taxes. Folks, that comes out to about $.69 cents per hour for an average 40 hour a week job. And these people paid to join the program! The good news is that not all Network Marketing companies are bad.

There are indeed some very good, honest, and reputable Network Marketing companies out there. Many of which can earn you a decent living with some work. The key to avoiding these kind of Network Marketing disasters is to do some diligent research, run the numbers, use your head (too good to be true and it probably is) and make a sound decision before signing up with any company.

Examples Of Real Network Marketing Success Stories

Like I said, not all Network Marketing is good, but not all is bad either. You can find several examples of successful Network Marketing companies out there. The key difference with a successful company is that it has a real product to sell.

For the company to be successful with the Network Marketing structure, it must focus on the product. One such example is Mary Kay. Mary Kay started in 1963 and has since grown to a trusted global name in skin care, makeup & body care. It is an impressive organization in terms of volume and size. Mary Kay serves as one the few examples of a successful self-consumption company.

In my opinion that is because they have a solid product that there is a demand for. Mary Kay offers some unique compensation to its beauty consultants including the very original pink Cadillac. Of course to earn the Cadillac requires you to achieve a certain level of success within the company. However, General Motor’s estimates that they have built over 100,000 pink Cadillacs for Mark Kay.

Another great success story is that of Art Williams and his A.L. Williams company which later came to be known as Primerica. Art Williams was a football coach from Georgia. He happened across the idea of replacing old whole-life insurance with term life insurance (which is cheaper) and investing the amount you saved from switching. On a coaches salary, Art had very little chance of getting a company started with traditional means.

He instead adopted the MLM or Network Marketing model. This allowed him to hire and train additional part and full-time individuals to help market his product. Using the power of Network Marketing, Art Williams went on to sell billions of dollars worth of insurance surpassing the top two insurance companies combined.

Today the company has over 100,000 independent representatives and Art himself has a net worth of $1.4 billion. I have several people who I know that have made millions with the A.L. Williams company. You’ll hear more about them later. For now, just know that A.L. Williams is the perfect example of how a company with a great product can use Network Marketing to become hugely successful.

How To Choose The Right Network Marketing Company

One of the first things you should do when entertaining the idea of joining a Network Marketing company is research. Find out about the company and what it is offering. As with all real businesses, the product is the key. The company has to have a great product that people are willing to pay for. If the product is not great than neither is the opportunity.

Try to put yourself in the customers shoes, would you buy the product? If so, is it affordable compared with the current market? Take the time to research and fully understand the product. Test the product if you can. At the very least try to get some real life feedback from existing customers who have bought the product. Doing so will put you in a position to make an educated decision about joining.

As a general rule, there are certain types of Network Marketing companies that you should avoid. The key among those are businesses without a product. That is, you make a majority of the money from recruiting. These are shady MLM companies that are closer to a pyramid scheme than a real Network Marketing company.

The second and perhaps more important to avoid is the self-consumption companies. These types of companies depend on you to buy their product as well as sell it. Do NOT invest in these types of companies unless you absolutely love the product and can afford it. Otherwise, you will eventually run out of “friends” and family to market to and will end up with a garage full of “product” and no one to sell it to.