Advertising losses were to reach $42 billion in 2019 and were predicted to be driven to reach $100 billion by 2023, according to Juniper research. Blockchain became good solution to provide transparency while serving ads and paying for the real human interactions on the ads removing the automated traffic from the picture.
The blockchain open itself to the advertising industry recently when data inflation and data discrepancy news surfaced online and publishers and advertisers started looking for a better alternatives for transparency. Advertising giants were manipulating the data and information to make a huge profit margin.
Blockchain applications in digital advertising
- Ad Buying and selling without the mediator – Blockchain is solving the transparencies and trust issues the ad tech industry has without mediator.
- Fraud prevention and transparency in the ad supply chain – Blockchain technology integrated with the tools helps find and flag sites with click discrepancy and bot infiltration which would flow the ad budget to the right sites with genuine clicks.
- Targeting the right audience – With blockchain, ad tech platforms can automate campaigns based on the specified set of rules. By doing this advertisers can utilize the budget on better sites to show ads. Audience engagement will be credible now with very much accurate data that will help design better campaigns.
- Data management – Blockchain makes it simple to retrieve the right KPIs utilize the data for better decision making.
- Customize ad delivery – With blockchain, advertisers will be given control to limit the ad frequency according to their campaign objectives.
- Social media ads – A lot of fake news used to surface online through social media channels, now it can be controlled as blockchain technology is the distributed system is highly transparent and trackable. It can limit the social media ad frauds.
- Data safety – Audience permission is required now to use their personal data. Security compliance like GDPR, CCPA, HIPAA came into the picture for data privacy and safety.
- Ad-verification – Blockchain reduced the role of third-party platforms to verify ads if they comply with the guidelines and save a lot of time for the advertisers.
- Ad automation – With the help of blockchain-based advertising platforms, ad auctioning process are more easy, transparent and will now be more effective and relevant.
- Content management – Content personalization, content discovery, content monetization and content creation would be easier in these blockchain technology ad platforms.
Blockchain is impacting the digital advertising ecosystem gradually and positively. Ad tech giants like Google are adapting the blockchain-powered tools to enhance their functionality. The companies considering an upgrade to their advertising platform with blockchain will lead the way going forward.