Blockchain in Digital Advertising Campaigns? -In an attempt to cut fraud encountered by the company while buying digital ads. Toyota, the well-known car manufacturer from Japan, has entered into a partnership with Lucidity. A blockchain digital advertising analytics company. The Los Angeles-based company, which was found only last year, is called KR80S. The problem faced by Toyota was that it wasn’t able to track payments of the supply chain. Therefore was unable to oversee how the advertising funds were being allocated. Lucidity offers an Ethereum blockchain solution that will track the payments of the supply chain. So that the advertisers can easily supervise how their funds are being allocated.
Toyota was able to witness an increase of 21% in the performance of its internet advertising campaign after using the advertising solution proposed by Lucidity.
Lucidity accomplished this return on Toyota’s investment by flagging sites and apps with a high level of impression and click discrepancy — which indicates fraud or bot infiltration — to move funds to sites with higher performance.
Nancy Inouye, national media manager at Toyota North America, added,
“We are in discussions to take it to the next step and [test] further with additional campaigns for a longer period of time. We feel that if we go longer we would see stronger results.”
After experiencing these initial positive results, Toyota is now planning to extend its business agreement with Lucidity beyond the introductory three-week testing period. The Media Director at Saatchi & Saatchi, Tom Scott said,”
“Even with high standards of anti-fraud and viewability filters already built in, Lucidity was able to deliver significant value-add by further optimizing the campaign.”
Adding that this is the first time they have used blockchain digital analytics service. Which is for eliminating waste and optimizing a company’s ad buy in this manner.
“The ability to have access to a transparent, clean set of data from across the programmatic supply chain is game-changing. We’re empowered to take action, and this is the first time we’ve been able to use blockchain technology to eliminate waste and optimize our ad buy in this way.”
The active utilization of Blockchain technology is becoming more prevalent within the media industry to address transparency issues. Such as fake traffic counts, bot clicks and domain spoofing, as well as audit ad transactions. The global ad software giant, Mediaocean partnered with IBM, in June of this year. In order to bring transparency to the “entire lifecycle of an advertiser’s media dollar flow”, by using Blockchain.
The black box
Blockchain in Digital Advertising Campaigns? -According to Inouye, the desire for greater transparency when making digital ad buys and using Blockchain technology to do so has been on Toyota’s agenda for some time. “Fraud and viewability is a huge, huge problem in the marketing space right now,” she says. While the automaker’s ad vendors “do a very good job for us,” Toyota “wanted to go deeper into the programmatic space in particular because it is an area [where] quite frankly, we don’t have transparency and visibility,” Inouye adds.
Whenever running digital ad campaigns, brands such as Toyota work with a long list of vendors. But are unable to acquire any level of understanding as to what’s occurring behind the scenes. To comprehend this remains practically impossible, predominantly because obtaining data from diverse sources (most of whom don’t want to share) and then making sense of it is not only very time consuming but also copious. When the so-called walled gardens (closed ecosystem in which all the operations are controlled by the ecosystem operator) of Google and Facebook are also taken into consideration, the view becomes even more nebulous.
Nikao Yang, Lucidity’s chief operating officer, says that Lucidity’s tech is different from the norm. Whereby it allows all members in the supply chain to essentially vote (in real time) whether any given impression is valid. The security measures work so that if, for example, two out of five vendors say an impression is invalid. Which is deemed to be “suspicious” by Lucidity’s blockchain tech team, and flagged. The company is proud to say that it works alongside fraud, viewability and brand safety vendors.
“We are not necessarily just looking for fraud,” Yang says. “Lucidity exposes supply chain breakdowns. These supply chain breakdowns indicate that some sort of fraud may be occurring for a portion of a publishers inventory. Lucidity allows marketers to optimize away from these breakdowns, which yields greater performance.”