Presenting A Blockchain Marketing Model Based on Challenges and Solutions to Improve Business Performance

Abstract

This study aimed to present a blockchain-based marketing model based on challenges and solutions to improve business performance. The information required for the study to present the model was collected from experts, namely 15 marketing experts who were university professors and were active in the field of blockchain. In this study, a model for blockchain-based marketing was designed using interpretive structural modeling (ISM) based on challenges and solutions to improve business performance. The results showed that the challenges of blockchain-based marketing include unclear rules, technical complexity, scalability, trust and awareness, integration with existing systems, and high initial costs. Blockchain-based marketing solutions include the use of smart contracts, data privacy and security, tracking and personalization of advertisements, automated execution of processes, reducing legal restrictions, and the use of scalable economic models. Limitations of blockchain-based marketing include technological and infrastructure limitations, legal and regulatory restrictions, and a shortage of blockchain-based marketers. Finally, it can be said that blockchain-based marketing, by using solutions and overcoming the challenges and limitations of blockchain marketing, can lead to improved business performance by increasing the speed of transactions, increasing accuracy and efficiency, increasing productivity, and increasing sales and profitability.