Blockchain — If you’ve heard of it even remotely, the things that you would associate it with are cryptocurrencies (Bitcoin primarily), finance, and an end-to-end encrypted ledger. And it makes perfect sense, as Blockchain is the technology supporting the hottest cryptocurrency — Bitcoin. However, what no-one talks about is the potential of blockchain and its power to disrupt almost any sector it can be implemented in. One such sector we can think of is “online advertising.”
It might sound strange but there, in fact, is a huge scope of using blockchain in the world of online advertising and eventually disrupting the sphere as we know it.
This is slight hesitation is what makes us think “can blockchain actually change online advertisement?”
And that’s what we will be discussing today in detail.
Some areas where we think blockchain can have a huge impact include the way online ads are delivered, purchased, valued, and measured. It even can be incredibly helpful in tracking the returns on the advertisement by evaluating the data in a more precise way. And to help you better understand how blockchain can change the online advertising, we decided to dive a bit deep into the online advertisement world.
Making Ad Buying Reliable
The biggest obstacle in front of every online advertiser is to trust the stats. We see clicks, we see followers, we see likes, etc. but are those the actual number of customers (real people) or just bots cutting deep into your pockets? If you have even slightest of knowledge of the online advertisement world, you must be aware of the “bots” or the employed “clickers” who are employed to boost the ad stats so that the distributor can charge a bomb to the advertiser. If truth be told, as of now, it is really tough to differentiate between the two.
According to a recent study, bots and clickers alone cost advertisers almost $7 billion in ad damage. Now, by any scale that is a huge number and a worrying one too. And this is where blockchain comes into play. Because of its encrypted and transparent nature, it is tough for the distributors to hide their bots or clickers from the advertisers. This makes it easy for the advertiser to establish whether the audience they are serving their ad to is their targeted audience or not. As a result, they can save millions on their online advertising. This can be done using native tokens for establishing a reliable ad-space which will benefit the advertisers through auditing the campaign and by securing impression tracking cryptographically. So, with blockchain in place, advertisers can now avail the advertising they are paying for.
Serve Direct To Your Targeted Audience
In the traditional online advertising sphere, your ads are served to your audience via a middleman (ad buying agency), which yields a higher CPM as opposed to when you serve your ads straight to your targeted audience. And blockchain can make it happen for you through “micro-currencies.” These companies micro-currencies will get advertisers their audience’s’ attention and not just imprints, and they will be able to establish it before the currency is being exchanged. In this way, you will be serving your ads straight to the potential customers as opposed to the bots and clickers and will be paying for the actual mental effort spent by the customer.
One of the biggest issue every only advertiser face is targeting. While we do have sources which provide us a significantly accurate targeted audience, the sources from which we get the information, in general, are rather disparate. Some might tell you the age and sex, while others will tell you the field in which your audience work or even the area they live in. None, however, give the real information shared by the customers themselves, as none of them have built a customer profile on their own.
But blockchain changes it all. With blockchain, advertisers can now create their own customer profile gathering all the information the customer is willing to share at one go. This gives you greater ability to serve to customers’ needs and gets you an even higher result of investment as you will now be serving only to the customers who are most interested in buying your product.
While these are just some areas where we think that blockchain can change the online advertisement significantly, these are not the only sectors where we will see blockchain bloom in coming times. The power of blockchain is yet to disrupt a lot of sectors as we know them, but the world of online advertising is one that we are most interested in. So, while you are mastering your Facebook ad scheduling, there is an even better and more exciting ad tech is waiting for you. And if you ever though blockchain is just a fad which will pass away, let us tell you — it is here to stay.