Blockchain technology in sales and marketing

Blockchain technology in sales and marketing

For the next few months, expect a series of 13 blog posts about blockchain technology and its impact in sales and marketing. Below is a synopsis of what to expect in each blog post in the order given.

  1. Blockchain transforms not only sectors such as security, health, and finance but also many basic tenets of marketing. It digitizes touch points, makes digital payments, creates meaningful value, builds trust, and decentralizes advertising concepts. Marketers who recognize this will have a lucrative opportunity in front of them and an edge over others. Hence for salespeople and marketers, it is worth spending some time to understand the changes happening in this arena. Already companies based on blockchain are growing exponentially.
  2. One of the challenges every business face is cash flow, and marketing agencies are not immune to it. Bitcoin is the solution. It has some financial benefits and less tangible advantages. The company who accepts the payment can either use a third-party to convert the Bitcoins into cash or withdraw it in the form of Bitcoins. Getting started is super easy. There are plenty of companies help businesses that want to get Bitcoin set up as a payment option.
  3. Blockchain is the new change on the horizon. Although it is already in the financial world, the uses of blockchain are far more wide reaching. It is shaking up many sectors along with all industries including supply chain, corporate responsibility, fashion designing, and digital advertising. To accept Bitcoins, all the company needs is a Bitcoin button at the checkout and a digital wallet. It works like a cycle whereby the publishers and users receive tokens when they view the ads.
  4. We are experiencing a significant shift in the real estate industry, as more and more people are engaging in property transactions using Bitcoin. Many industry experts are excited about the potential for digital money and the blockchain technology when it comes to real estate. But although digital currency transaction is the future, industry insiders say that we are not quite there as yet. Digital money analysts are less convinced that the property market would more widely adopt the cryptocurrency.
  5. In the real estate blockchain enables to store authentic online documents, draw digital smart contracts, and keeps the identities of the parties anonymous. While all sounds great, for everything to work seamlessly, it still needs a lot of things. As traders and investors have bid up Bitcoin’s price higher and higher, the Securities and Exchange Commission has suspended trading of some firms. Investors need to be cautious and not chase small companies that are trying to ride the wave.
  6. The blockchain is the system behind cryptocurrencies. A basic grasp of how it works will prove to be sufficient for now. But in the future, this knowledge would hardly be enough. The question is how to start, and the answer is first to have an understanding of the fundamentals of blockchain. With the growth of the industry, it is possible to reach mass adoption. Even if it fails, Blockchain is here to stay and is a big game changer.
  7. Cryptocurrency is a digital payment maintained by a network of computers that uses cryptography to authenticate transactions. Depending on how investors expect to make money and how they are structured, some cryptocurrencies may count as securities. If traders of these currencies prop up the price and go online to spread gossips, that might count as fraud. It can be hard to determine if a bubble exists. The only way to ensure that they avoid a burst is mass adoption.
  8. A war is over the future of Bitcoin, the first digital currency, and is already showing strain. Two of the biggest among the competitors of Bitcoin is Darkcoin and Ethereum. Many of the currencies younger then Bitcoin can be used for much more versatile purposes. Hence Bitcoin faces a threat from more nimble competitors. Digital currencies will drive new company model innovation at unprecedented levels. This revolution could be either a bubble or the onset of a financial realignment.
  9. Blockchain technology represents a seismic shift like that of email and web in the 90s and Facebook and Twitter a decade later. This innovative technology also makes Bitcoin and other cryptocurrencies possible without centralized authority. But cryptocurrencies are just the tip of the iceberg, much bigger and more essential things lie below the surface. Blockchain technology has the potential to create countless opportunities everywhere. 21.co, a blockchain startup founded by Dr. Balaji Srinivasan, is a compelling case in point
  10. Some businesses and companies prefer to stick to their past, but this is not a good marketing strategy. Instead, it is essential to take a progressive approach and look out for the next big thing. That is what happens when companies begin to accept Bitcoin payment that put them in a position for greater success. Embracing the power of this new blockchain technology shows the customers and prospects of a business that it is well ahead of the curve.
  11. Charlie Shrem was among the pioneer public faces of cryptocurrency. He co-founded a startup company in 2011 called BitInstant that was one of the earliest cryptocurrency companies processing a third of all Bitcoin transactions. In 2015, Shrem went to prison for two years for aiding an unlicensed money transmitter acquire Bitcoins to trade in the underground marketplace, where it was used to buy drugs. It was a felony that is the first of its kind in the crypto world.
  12. Charlie Shrem the first Bitcoin felon went to federal prison in 2015 for 2 years. Upon his release he went about strengthening the ecosystem of blockchain. A real breakthrough came when he created a prepaid Dash debit card. He then joined Intellisys Capital and decided to raise funds in the form of initial coin offering but was mired with doubts, as he feared the intense scrutiny from the authorities and eventually backed off.
  13. Today, many of the blockchain assets are tokens that are distributed as initial coin offerings. It constitutes the Internet’s second business model. Associated jobs have soared as its value has risen. Candidates who understand initial coin offerings, know how to write smart contracts, and have a good understanding of Ethereum would have an extra competitive edge. Interested applicants should read up the online literature on how blockchain works and be aware of the basics before applying in the field.
Blockchain technology in sales and marketing

Bitcoin is the earliest cryptocurrency

The topics of the series are broadly categorized as follows:

  • Blockchain is defined as a distributed peer-to-peer database that is based on an open and public ledger coded by cryptography. It is intermediated, decentralized and unalterable. Blockchain is a technology to be reckoned with as it can be applied in various industries. It will disrupt many businesses including the advertising world.
  • Cryptocurrencies are digital currencies or, in technological parlance, alternative coins, also known as altcoins. Although Bitcoin is the most commonly used cryptocurrency, there are many limitations to it. Its flaws and weakness have given rise to many other cryptocurrencies such as Ethereum, Ripple, and Dash.
  • The marketing industry will see phenomenal changes in the way products and services are advertised. In future, customers in the target market will have to be paid a fraction of a cent for their attention. Such micropayments is only possible with blockchain that is one of its greatest advantages. The blockchain technology called Brave will enable this.
  • Big-ticket items such as mansions and real estate properties are purchased using Bitcoin. There are cases whereby houses with a Bitcoin price tag received overwhelming response and media publicity. However, the technology faces some obstacles in the real estate sector that prevents mass adoption.
  • Lastly, using a real life case study we will warn you on how not to conduct business using this emerging trend. It is a case study based on the first felony committed in the crypto industry. It is also the story of a powerful transformation in the life of the felon who has now dedicated his life to help evolve the blockchain ecosystem.

After the case study, we will provide some information for those who would like to pursue a career in blockchain technology and cryptocurrencies. We will then wrap it up with the publication of the white paper written by an anonymous hacker who goes by the pseudonym of Satoshi Nakamoto, the creator of Bitcoin.

Stay tuned on www.blog.smei.org

SMEI Launches New Business Book Club for Members

SMEI Launches New Business Book Club for Members

SMEI announced today that a new business book club has been launched for SMEI Executive level members. Members are invited to read the monthly business book club selection and join in an online live webcam event to discuss the book.

One of the key attributes of successful leaders is their habit of reading business books. This forum is designed to bring the reading to life within the network of Executive members. Each member will have the opportunity to rate the monthly book selection on the following qualities on a scale of 1 – 5 stars and justify their ratings:

  • Mind teasing
  • Applicable
  • Recommendable
  • After taste

The first monthly book club will take place live online on March 26, 2018. The monthly featured book will be Entrepreneurial You: Monetize Your Expertise, Create Multiple Income Streams, and Thrive by Dorie Clark.

“We’re really excited about this new member benefit for our Executive level members,” said Willis Turner, CEO of SMEI. “Our first live event will be moderated by Ben Mastboom, CSE. Ben has a great skill in leading forums and we are pleased that he is able to join us for this program.”

For more information on registering for this event as an Executive Member, please visit the SMEI website.

If you are not yet a member and would like to join for this benefit and more, please visit SMEI’s membership options here.

 

Achieving Peak Performance Through Effective Goal Setting

Achieving Peak Performance Through Effective Goal Setting

Research shows that goals that are written are 80% more likely to be accomplished. Before we can set effective goals that are meaningful and motivating, we need to be in the proper mindset.

A peak performance mindset begins with changing your limiting beliefs into liberating beliefs. Research shows that 80% of our success comes from our mindset and 20% from our skills. Given that statistic, it is imperative that we understand some of the hurdles that stand in our way of that success.  The National Science Foundation has found that we have 60,000 thoughts each day, with 48,000 of them being negative. So, the negative mindset is paralyzing our ability to reach our goals day in and day out.

The question is, how do we overcome these negative thoughts to break through and reach our goals?   Author, Shawn Achor, outlines in his book, Before Happiness, that people with a happy mindset are 23% more energetic, 31% more productive, 300% more creative and sell 38% more!  For those of us who are in sales, and we all are in some way, this is great news.

In addition to finding ways to get into a happy mindset, we need to get into a growth mindset.  Dr. Carol Dweck, the leading authority on growth mindset, “the only thing that separates people who succeed from those who don’t is whether or not they have a growth mindset.” Therefore, you don’t want to get stuck in a rigid and repetitive mindset that keeps inhibiting your potential for success.  Those with a growth mindset are typically open to learning, embrace challenges, see efforts as a way to success and persist in the face of adversity, all of which are essential to reaching peak performance goals.

Since “goals are the pathway to your destination,” there are four steps to goal achievement.

  1. Visualize your goals. When you can visualize your goals, with a wall of dreams or vision board, your ability to define and reach those goals becomes infinitely more achievable.
  2. Write down your goals! – Goals that are written are 97% more achievable!
  3. Reflect \ After Action Report – Reflection, especially with a coach or mentor, is key in setting effective goals. Reflecting on why you are achieving allows you to understand the steps taken to achieve, while also reflecting on the reasons why you failed to achieve is key in learning the why behind the actions that lead to coming up short. In the business setting, you can use After Action Reports to reflect on the successes and failures in your business goals.
  4. Define the purpose for your goals. “The bigger the why the bigger the try.”  I usually recommend a personal brand statement, a family motto, or what you would want written on your tombstone.  As a proud husband and father of three boys, my personal purpose statement is “thank you, you showed us how to have fun, live life, love unconditionally and be respectful.”  For my business, G3 Development Group’s purpose is “planting seeds of emergence” in every customer interaction we have.  Meaning, everything we work on together will continue to emerge and bring value in time.

Finally, in the goal setting worksheet that I can send to you (emerge@g3developmentgroup.com), there is a space for you to list your talents (Gallup Strengthsfinder), so that you are always becoming the best version of yourself, there’s a place to paste your vision board, and there is a signature box.  Since everything that has serious consequences in life requires a signature, your goals should also. This is your way of taking ownership to your goal!

So wake up tomorrow, smile, embrace the challenges ahead of you with enthusiasm and reap the benefits of success!  You’ve got this!

For more information on how to achieve success visit our website.

Photo by Jungwoo Hong on Unsplash