What can we learn from the tremendous growth rate of the blockchain martech landscape?
The rise of the blockchain marketing technology landscape has been impressive over the last few months. It was back in September when ‘Never Stop Marketing’ released the first version of the emerging landscape. There were already signs that the early stage showed great potential with more companies investing in blockchain marketing technology.
Six months after the first version, there is the second one, measuring nearly 400% growth in the blockchain martech and adtech space.
The impressive statistic gets into perspective from Jeremy Epstein, CEO of Never Stop Marketing, when you compare it with the growth of the digital marketing technology landscape:
“The explosion in the crypto market is driving innovation in decentralized MarTech. It took over three years for digital marketing technology solutions as a whole to grow 400%from 2014 to 2017 and this market shows no signs of slowing down.”
The release of the new blockchain martech landscape proves that there is indeed a need for a new crypto-enabled market both for martech and adtech. More marketers are ready to invest in blockchain and decentralized technologies and the demand for martech and adtech technologies shows the need for ROI through the new investments.
The growth of the advertising and loyalty markets
Despite the growth in all markets, the most significant change has occurred in the advertising and loyalty markets.
More specifically, the loyalty market has grown by 150%. This derives from the fact that more people want their loyalty rewards to be represented as cryptocurrencies. This brings more brands into re-establishing their loyalty programs, in an attempt to make them more appealing and engaging.
Moreover, crypto search and social advertising have increased by 500%. This growth is not surprising, as more companies are investing in the trending crypto market looking for alternative and decentralized options for their growth.
This also led to the rise of decentralized identity projects by 100%, showing a new direction that more marketers will be willing to explore.
A look at the established players in the market
The overall growth of the blockchain martech landscape can be analyzed by looking at successful examples of companies that saw an impressive growth lately:
- AdChain currently has a market cap of $21million and it sees a daily trading volume of $200k.
- Steem is now among the top 1200 visited sites in the world and it actually sits among the top 500 most visited sites in the US traffic.
- Papyrus has joined the IAB tech lab and it’s currently working on 4 pilots
- The OnXchng partner program has already 10 partners and it is estimated that it has 300mm in mobile ad unit inventory
- Loyyal has worked with Smart Dubai on innovative blockchain applications aiming to support rewards for tourism and any relevant activities. It is also explored by Singapore airlines and the Amadeus Global Travel Ecosystem to test new ways of improving consumer loyalty.
What’s next for the blockchain martech and adtech landscape
This is only the beginning of the analysis of the blockchain martech landscape and the initial results indicate that there will be a further growth.
The impressive start will convince more companies to dive into the crypto market to follow up with the trends and to explore a new level of innovation. The increased interest will also lead to an increased focus on more brands. This is expected to bring an increase in talent and capital flows, bringing an even faster growth rate.
More marketers will be seeking for innovative ways to improve the consumer experience and their ROI and this will bring the rise of more decentralized startups interesting in adding value to the growing challenges.
Moreover, as Jeremy Epstein was predicting earlier in 2018, we will also start seeing more decentralized teams. There will be an intersection of blockchain and marketing that will shift the current marketing strategies.
This should bring out an additional element of growth in the blockchain martech update, while it can also be the key to the increased talent and capital flow in the space.
From what we’ve seen up to now, the future looks bright.