Vexanium: The Decentralized Marketing Ecosystem

collinberg (6)in #blockchain • 6 years ago (edited)

Whether you have a business or you’re a buyer, you must have come across situations where you’re compelled to buy a particular product. Sometimes, the product in question does not appeal to you but because of the seller’s insistence on its durability, you will then decide to give it a try.

That is what the economist terms marketing and it had been in existence for long. Businesses use this approach to sell their products quickly. On social networking sites such as Facebook and Instagram, thousands of small scale enterprises and companies promote their products through paid adverts.

It is crystal clear that marketing plays vital roles in the buying and selling on any platform. It cuts across financial institutions such as banks and extends to small scale businesses and e-commerce platforms.

For more positive response, some businesses decide to issue vouchers, coupons and gift cards with the aim of attracting more customers to their fold. While this might be a good promotional strategy, there are great downsides to it that does not augur well for the growth of any business that uses it.

Profitability of Promotional Marketing

The issue of promoting your product to attract more customers should never be overlooked if your business must get to the next level. Concise researches have been conducted to check the prospects of promotional marketing and available results are pointing to a positive angle.

A research conducted recently by GfK posited that about 307 billion coupons (both online and offline) were distributed to users in the year 2016 and about 52% of internet users utilize digital coupons.
Businesses around the world today are using the likes of vouchers and coupons to attract customers. Customers who are eligible to have these are offered discounts in their purchases while the business faces the challenge.

It is very common to see customers make purchases with coupons and vouchers issues to them and once they have exhausted these, they port to another business that will give them a soft landing. When this becomes the case, businesses will face the downside of their promotional strategy of coupons and vouchers because the tendency of losing their customers at the expiration of vouchers and coupons is very high.

Statement of the Problem

The major issue holding the promotional marketing industry to ransom is the loss faced by businesses when their customers desert them. While businesses are losing their customers, they are also losing lots of revenue to advertising agencies that they run their campaigns on. So they have a two-way loss and if such a business does not come up with an approach to tackle the malaise, it is likely that they will be forced out of business.

With the blockchain technology as the latest innovation on the cyberspace, it is important that businesses should port here. That is what brought about the blockchain solution for merchants and businesses.

The solution called Vexanium

We have here with us a blockchain that supports businesses and merchants. The Vexanium blockchain offers a decentralized approach to buying and selling. It also brings immutability and liquidity to bear on its platform and the promotional strategies of vouchers and coupons are also brought on-chain.

Here’s why you should use Vexanium

Vexanium wasn’t a concept that was thought and implemented immediately. Its developers have had extensive experience in the promotional marketing field. They have successfully initiated and sold coupons and vouchers in Indonesia. The concept was called the Evoucher Indonesia and during their stint there, Vexanium’s developers were able to sell vouchers and coupons to over two million online users.

Aside from this, Vexanium is here to distort the traditional promotional marketing. Vexanium will solve the many limitations in the promotional marketing industry such as Liquidity, Cost and Redemption. These limitations are for the physical or traditional promotional marketing platform.

Promotional Marketing on the Blockchain

Most online platforms especially social networking sites have placed a ban on Initial Coin Offerings (ICOs) and this has affected ICO teams from achieving their targeted fund to be raised.

It is therefore imperative to find a solution to this problem if indeed, promotional marketing of any type must continue. Given the fact that top social networks such as Facebook accept other adverts except ICOs, it is important that a promotional marketing is developed on the blockchain.

Airdrops are the only viable option for this but so far, websites that offer the service are not hinged on the blockchain. If airdrops had been established on the blockchain, users can easily use all services that will connect them to both community members and investors.

There was need for a blockchain that can harmonize and integrate all aspects that will airdrops a successful approach to promotional marketing.

Vexanium’s Approach to the Problem

Traditional advertising agencies use a centralized database that stores users’ data but the blockchain is far from this with its composition of a decentralized feature. Vexanium is bringing a new ecosystem that allows companies better marketing options; far from what they could have gotten on Facebook and Instagram.

Codes are used on the Vexanium blockchain for security and transparency. Vouchers are also available here and are issued to prospective customers through the voucher exchange platform. This gives the customer benefits for patronizing a business and the business in turn is sure of having the customer for keeps. So the business will no longer suffer from the loss of revenue and inability to hold down their customers.

Vexanium is also bringing a decentralized approach to Airdrops promotional marketing strategy by using the blockchain. This will eliminate the use of middlemen and as a business; you can now establish direct contact with prospective customers over the Vexanium ecosystem.

TOKEN

Vexanium is issuing its token as the primary channel of transaction and for security purposes. Its token is encrypted and liquid; giving room for fraud prevention especially when cashing a voucher. It also brings transparency to the Vexanium ecosystem because users can see pertinent information of each marketing campaign or promotion.