Blockchain advertising analytics venture, Lucidity, claims its blockchain advertising pilot with Toyota resulted in a 21% lift in campaign performance.
The partnership, which also included the agency Saatchi & Saatchi, aimed to introduce transparency into Toyota’s digital ad campaign expenditure and eliminate wasted spend.
The performance was calculated by comparing non-optimised placements versus Lucidity’s optimised placements, with the goal of driving conversions to quality site visits. Lucidity 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.
“Before today, there was no way to verify with confidence what’s happening behind the scenes in a programmatic buy,” explains 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.”
Tom Scott, Media Director at Saatchi & Saatchi, claims 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 optimise our ad buy in this way.”
Nikao Yang, Chief Operating Officer of Los Angeles-based Lucidity, says programmatic supply chains do not 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,” he comments.