The problem with the legacy systems is that there is a lot of "guesswork" when it comes to business developments targeted at improving customer engagement and patronage. I mean sure, machine learning is cool, most advertisements are served via data gathered from these algorithms, but how accurate are they most of the time?
Out of 100% I'm not sure we can say 30% because activities performed by humans on the net has millions of possible intents, the only reason select brands have had great success in increasing customers via advertising on networks leveraging this technology is because there has been a good amount of efforts pushed towards these ad creation that literally anyone would be interested.
Advancements tend to attract more people even those that wouldn't normally be interested in such a product when it is done so well, it ends up pulling in more traffic than usual. That said, for businesses with less skillful marketers and advertising teams, there will be a lot of time and resources wasted on advertisements, and this creates the need for an alternative that is much more appealing to basically anyone.
Proposals and Blockchain Voting Systems
I believe the success of most future businesses will depend greatly on how much they work with their customers to improve their services. This goes from public engagement and deploying incentivized voting structures and proposals tools for the customer base to contribute to what is being built or produced.
Imagine a business where the customers can create public proposals which other customers can vote on if the majority find it as an added advantage, well, this is what is already happening with decentralized finance projects via decentralized autonomous organizations but we're talking about businesses in all sectors, clothing brands, electronics, furniture perhaps? Just about any business. Integrating this feature will allow businesses to earn more customers input and gather enough data for successful sales without bridging customers' privacy.
Some public proposals could also be posted by the companies with incentives to participate, like some discount on purchases? vouchers? loyalty points? Just about any incentive that users can derive value from. By doing this, a business is effectively building a layer for trust where customers will feel more important and heard given the ability to be so involved in the evolution of their favorite brands.
This has a lot of business advantages including user retention, more access to successful business strategies, tapping into publicly incentivized innovation ideas. So much can be achieved leveraging blockchain to advance, as usual, this is one of my shower thoughts.
Do leave a comment if any.
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