Toyota, Japanese car manufacturing giant, and Saarchi & Saatchi have partnered with blockchain analytics firm Lucidity. This partnership is aimed to curb fraud when buying digital ads, to improve transparency in Toyota’s digital ad campaign and to eliminate wasted spend. Toyota saw a 21% lift in performance through Lucidity-optimized campaign.
As the automotive industry requires heavy advertising campaigns which accounts for over $15 billion in U.S. alone in 2018, the idea of introducing blockchain has evolved. During the campaign Lucidity compared the performance of non-optimized placements versus Lucidity’s optimized placements. Eventually, optimized placements could bring more quality site visits.
How It Works
Lucidity provides auditable data across all parts in supply chain and ensures enforcement of advertising standards. Lucidity’s platform has ability to identify data discrepancies arising from suspicious activities like bot traffic, domain spoofing and auction games like bid caching. Lucidity will filter out sites and apps, finds high impression zones to shift advertising investment to high performing sites which will dwindle wasted spend.
The press release also mentions that Lucidity platform is better than existing systems and that it goes beyond probabilistic models to provide deterministic data at the log level. This will do deeper optimization against impression and click discrepancies which is the advanced development compared to the existing system.
Says on Partnership
Nancy Inouye, national marketing communications manager at Toyota said:
“Before today, there was no way to verify with confidence what’s happening behind the scenes in a programmatic buy. We’ve had our eyes on blockchain innovation for a long time, but didn’t have a workable blockchain solution to implement until now. We’re excited to be running live, in-market campaigns with Lucidity.”
Tom Scott, Media Director at Saatchi & Saatchi 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. 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.”
Nikao Yang, Chief Operating Officer of Lucidity added:
“Lucidity wants you to know what you’re paying for and where you’re wasting money, so you can direct your spend to maximise ROI. The reality is that programmatic supply chains don’t always behave as intended, and bad behaviour comes into play. Our blockchain solution gives partners like Toyota deeper, log-level optics into their ad spend at every point in the supply chain to combat these challenges.”
Lucidity recently received Blockchain Startup of 2018 award in Digiday Technology Awards.
CryptX.EU.COMmay source articles from multiple sources and re blog it here. Feel free to contact us @firstname.lastname@example.org you have any objections with us directing traffic and back-links to your site. We do not claim any copyright or ownership for sourced content. You are welcome to re-blog any article onCryptX.EU.COMwith appropriate source and credits. Let’s build a better community together.