How You Can Cut Off Wasteful Ad Spend using Blockchain Technology
Blockchain is known as the recorder which holds different data across various systems. These data, records called blocks, which are linked using Cryptography. This is really beneficial to every individual as it created a lot of things. There are many people who continue using the products and the power of blockchain. This can be also an instrument in making more products and software in the future. Today, blockchain is also an instrument in fixing things in advertising.
It is known that a lot of companies who have their brand and want to promote their products or services need the power of advertisement. This is for them to be able to know what they can have and what they can offer for the people. Advertisement is one of the easiest ways and yet it is one of the most expensive strategies of every company.
They need to risk and at the same time invest their money in advertisement. Thus, blockchain today will be able to help the whole process of the advertisement. Today, a lot of advertising companies especially the company who have a lot of products to promote seek help to the blockchain.
The blockchain can help the whole system in advertising and cuts all the wasteful ad money that can be spent is with the smart contracts. This is where the whole process starts in allowing every company to audit to achieve the accuracy of the record and the data as well. The smart contract will help to minimize every expense of the advertisement, verify all the expenses and at the same time able to organize in a digital way as to make tracking of every transaction gets easier.
What Can Blockchain Do In Cutting Wasteful Ad Spend
1. This can bring trust to digital ad buyers
This is one of the main reasons why Unilever and other brands considered blockchain as their experimental solution to the problem of too much spend in an ad. The reason behind this too is that blockchain offers digital transparency to every financial transaction. Unlike using software that is available and accessible as well on the internet, it is easier and convenient to use. This will give transparency of the transaction on how the process of the media supply chain of the advertisement. The overall expenses when reaching this to the publisher. This is more effective to use, as this can trace by using blockchain specifically their partner blockchain to run smoothly.
2. This ensures the security of the supply chain network for the people.
This will allow the ad to spend more organize and at the same time in order always. As blockchain can ensure the security, protection and also transparency of the counter-parties communicate with each other. This supply chain network is a must in the advertisement as it will complete the whole process and the path to every expense of advertising of the product or services. This will help every company to work faster and in an easier way as well.
3. It can trace every transaction.
This is the good thing about using blockchain in cutting wasteful money that can be spent on the ads. Earlier we used to do transaction by using a notebook and a pen, but when times passed people are able to encode their transactions using a computer, mobile device and even on a tablet.
But, today with the help of the blockchain this will enable every company to trace their transaction without the record of it. This is the perks of using blockchain as this can trace and explore other sites that the device had been using when dealing with the expenses in the advertisement. Another thing that blockchain can be done to stakeholders is that this can allow them securely to transfer assets without exporting it. This is a good indication for the great communication between the whole supply chain network and of course the agency.
This is where having an artificial intelligence happens for the customer. This is for the engagement of advertisements to the consumer. Usually, blockchain protects the customer and reach them. For instance, those people who love junk foods can get all the advertisement of junk foods from their different social media platforms. This is where the power of blockchain enters, as this will help to give the customer the collected safe data.
Blockchain is a big help in fixing and organizing financial things. This is where blockchain can give a clear view of finances and also the sequences of those. It can trace every transaction, it can enforce as well as it can help to verify. Marketers can trace the money from their transaction to the buyer and going to the publisher. This is where every marketer can get the perks in using blockchain with regards to their cashflow. It is one of the most important things in advertisements companies to ensure that all the records are fully equipped for calculation. This will really help affiliate & ad exchanges to nullify fraudulent manual transactions.
There are a lot of people who don’t know the fact about what blockchain can do in every individual’s lives and also to the whole community. It can also help in cutting unnecessary expenses for the ads and save more money to deliver great things to the publishers. The main reason why a lot of developers keep on looking for great answers to different problems and hoping that blockchain can be effective as they used from other problems.
Blockchain has a lot of future predictions from different developers in every part of the world but the good thing is that it keeps helping the world and the technology keeps it arising as well. People in advertising should explore and try using blockchain as one of the most effective solutions. It will cut all wasteful ads to spend and make inventory easier and faster for every big company. This also ensures the proxy and other counter-parties of every marketer.
Saurabh Mukhekar is a Tech Blogger from Pune, India. He is also thinker, maker, life long learner, hybrid developer, edupreneur, mover & shaker. He’s captain planet of BlogSaays and seemingly best described in rhyme. Follow Him On Facebook