Influencer Marketing (The Future of Marketing LIVE series 2022) [Video]

Apr 27, 2022

We're going to look at key characteristics of blockchain at a high level and its relevance to the retail and CPG markets.We can define it as an extensive distributed database in which all types of transactions can be recorded directly between parties without the need for intermediaries, in real-time, securely, and with complete traceability.Let’s take a look at some of the key characteristics of blockchain1. First of all, it’s secure. 2. Then it’s transparent. 3. And naturally it’s digital. 4. Another good one, it’s almost real-time. Practical Applications in Retail CPG• About Targeted Recalls, CPGs and retailers can identify products that are unsafe or contain defective parts, to issue targeted recalls. • Locating Stolen Products with blockchain: How? You can tag your products and their authenticity could be verified and activated on the blockchain. Currently in use for luxury goods, electronics, and limited editions. And if one of those products gets stolen or missing, it can be traced through transactions notifying its legitimate owner of its location. Brands like Chanel, Cartier or Louis Vuitton deploys blockchain technology for locating stolen products.• You can deliver enhanced Connected Services on blockchain: Basically brands can provide guaranteed after care service and warranties. Currently in use in high-ticket fitness equipment, cars and electronics.Supply Chain business Use Cases• With Connected Supply Chain blockchain provides an end-to-end supply chain solution to enable companies to order or sell, trace, and pay for goods once they arrive at their destination seamlessly. Payments could also be initiated seamlessly between parties throughout the process, based upon agreements. As an extension, connected IoT sensors and smart devices could measure the condition of containers and other information that can be recorded on the blockchain and inform final settlements, in case the goods get damaged.• Delivery is also another use case of blockchain: With the growing trend of home delivery, growing trust and security demand can be met with blockchain tracing technology. Payments Contracts Business Use Cases• You can accept Consumer Payments on the blockchain. There are a few major companies that are currently accepting Bitcoin, as credit cards become less and less used online. Whole foods, Home Depot, Starbucks, Microsoft, and Tesla are offering cryptocurrency payment options.You can make B2B Payments on blockchain: Companies can use smart contracts to replace traditional ACH or credit lines. Blockchain can simplify the transaction process between financial institutions, speeding up the process, and reducing intermediary costs and risk. Blockchain also facilitates cross-border payments and can be used to guarantee payment of duties and other taxes.• Digital Advertising on blockchain. It improves transparency around real time bidding for digital advertising space by providing a full audit trail of data. This will allow ad buyers and sellers to verify campaign execution and engagement targets accurately and claim rebates based on failed implementation.How does a Successful Blockchain Implementation in Digital Advertising look like?Step 1: Integrated marketing has the ultimate power to automate and scale brand trust. If we can communicate this to our business partners and stakeholders, we can get their alignment for blockchain implementation.Step 2: We can start with the low-hanging fruit, where OTT media and in-app advertising require users to log in with personal credentials, so it's a good beachhead for trusted data and identity on the blockchain.Step 3: Like every double-sided platform, digital advertising delivers more value with more participants on each side. We can start with a small group of collaborators on a well-defined problem to demonstrate the proof of concept, because blockchain is already built to scale.And Step 4: Integrated marketing applications in place can benefit from monitoring and replicating the success of other front-runner use cases, such as supply chain safeguarding, credentials management, counterfeit products, propriety rights management, and food safety.Opinions are my own, not the view of my employer. ____________________________________________________________ Mert Damlapinar has been in director roles for eCommerce, digital marketing, and sales, he's currently Global eCommerce Lead for Mondelez International. He holds a master's degree in Applied Business Analytics from Boston University (magna cum laude), executive management certificates in Integrated Digital Marketing from Cornell University, and Applied Data Science from Massachusetts Institute of Technology. He's a member of the MIT Technology Review Global Insights Panel, Consumer Goods Technology Executive Council, The Digital Shelf Institute Executive Forum, and Brand Innovators Labs Innovation Advisory Council. He's currently working on his 2nd book.

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