Blockchain Explored By Toyota To Reduce Fraud In Digital Ad Campaignsbr>
Lucidity, formerly known as KR8OS, provides auditable data across all parties in the supply chain and ensures that advertising standards are being enforced. It is using blockchain technology for digital advertisers and publishers to mitigate fraud, transact with trust, and maximize ROI.
Lucidity announced that it recently conducted a blockchain-powered advertising campaign with Toyota and its agency of record Saatchi & Saatchi. The Lucidity-optimized campaign was able to blacklist sites and apps with “high levels” of impression and click discrepancy in order to shift budget to higher performing sites and eliminate wasted spend. It reportedly resulted in a 21 percent upstick in visits to Toyota’s website.
“Before today, there was no way to verify with confidence what’s happening behind the scenes in a programmatic buy,” said Nancy Inouye, National Marketing Communications Manager at Toyota. “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.”
During the campaign, Saatchi & Saatchi bought some 10 million ad impressions in the US through AppNexus, a demand side platform that marketers use to buy digital ads programmatically. Lucidity in turn collected log-level data from vendors across the digital supply chain, including AppNexus, and plugged that information into its software to find discrepancies such as fraud, domain spoofing or bot traffic.
“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,” said Tom Scott, Media Director at Saatchi & Saatchi. “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, said that the reality is that programmatic supply chains don’t always behave as intended, and bad behavior 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,” said Yang.