Blockchain is looking to improve the efficiency and transparency of the digital marketing world. In the article below, we will be outlining some of ways that Blockchain is effecting the day to day lives of businesses and marketers around the globe.
Transparent Ad Delivery Verification
Online paid advertisements now account for of global advertising spend than television. Paid advertising on AdWords, Facebook, Bing and LinkedIn is a big business with an estimated 229.25 billion US dollars spent last year, and a further 100 billion expected to be added to that figure by the year 2020.
With so much money flowing through online paid advertising channels, the issue of ad delivery verification is crucial to the long term growth of the area.
Blockchain-based startups today, such as Adchain and ConsenSys, are teaming up to experiment with Blockchain powered auditing services for advertising. These largely decentralised systems may disrupt larger ad providers, by providing unparalleled access and measurement opportunities.
Another example of a startup contending with other larger online media distributors is AdEx. This company are developing a network that measures ad delivery using Blockchain.
“If an advertiser wants to double−check the data, they must rely on internal systems. This creates a perfect environment for advertising fraud, such as click farms, paying for invalid clicks/impressions, and the industry is taking advantage of it,” says Vanina Ivanova of AdEx.
“Bringing the blockchain into the picture allows for unquestionable verification of ad delivery, traffic and achieved results.”
A Shift Towards Pay-Per-View Advertising?
In our progressive capitalist society, advertising has become ubiquitous and our attention has become a commodity. Ask an advertiser how much the attention of a consumer is worth and they will let you know just how valuable it can be. Businesses across the globe spend billions on capturing your attention everyday.
Consumers of advertising, however, are getting savvy. Now, using a Blockchain equipped browser, Basic Attention Tokens (BAT) are one of many platforms sprouting up that offer advertisers exposure to consumers, whilst rewarding producers of content and consumers of advertising.
The Brave browser is a platform that blocks out ads, and in turn allows advertisers to use tokens to purchase advertising space. Using advanced measurement, users receive micropayment for viewing advertising and producers of content likewise receive currency for drawing consumers in.
This type of pay-per-view marketing is also being used to change the world of email marketing. Earn is a startup that allows you to put a price on your attention. Influencers and general consumers put a price on their time, and companies can pay that price to have them view their emails.
Using Blockchain ‘smart contracts’, both the consumer and business are protected. In this way, advertising becomes less of a thing thrust on the public, and more of an exchange – ‘your attention, for our money’.
For better or worse, the monetisation of advertising thanks to Blockchain seems to be a growing trend in the world of digital marketing.