Fasten your seatbelt: Crypto’s impact on marketing has only just begun

The road to the adoption of blockchain and crypto in the marketing industry is a long and winding road. But make no mistake about it: Transformation is well on its way and the road will soon turn to a highway.

As someone who has been a creative director, agency owner/partner, strategic planner, chief marketing officer for fintech startups and an entrepreneur, I’ve seen the marketing industry from multiple vantage points.

What’s common in marketing revolutions?
And while every so-called “marketing revolution” takes a somewhat different path, there are many commonalities. First of all, marketing agencies will get ahead of the curve as a way to exhibit their competitive advantage and value to their clients. But a majority of brand marketers will move more slowly: They have the challenge of “socializing” change internally, are lured by the opportunity for competitive differentiation but also inherently more cautious, often have large and complex systems issues, and require leadership with a certain risk tolerance. It’s why companies like McDonald’s and Walmart are dipping their toes into crypto, yet still have a way to go.

Secondly, as with most transformative moments in marketing, a core challenge is a behavioral one: How to get customers/consumers to take that first step … to overcome confusion, fear/distrust, or simple inertia to make that first transaction. Think: the early days of the internet and connecting a modem for a dial-up connection; having to incent folks to adopt online banking and pay their first bill or electronically deposit their first check; or QR-codes, which were a big dud until Apple built a QR reader right in the iPhone’s camera.

The common denominator: simplicity. It’s why asking mainstream consumers to navigate an infinite number of exchanges, Metamask, Uniswap, hot and cold wallets, and the like is a tall task. Yes, early adopters are doing just fine, but they’re just a sliver of the total universe of the general population.

Source:cointelegraph.com