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5 Applications of Blockchain Technology in Digital Advertising

The future development of blockchains for applications outside of monetary currencies is still little researched. One of those developments is in the field of digital advertising. Let's explore how digital advertising industry can harness the benefits of blockchain technology.

Since the beginning of the year, the term “blockchain” has made headlines in the technology sector more than any other term. But what made it so popular? The technology ensures that all the transactions that are carried out are properly recorded and conducted. This is true mostly to digital currency. But it is not virtual currencies only that can be transacted on the blockchain.

In fact, there are more applications of blockchain besides the cryptocurrency. Another industry that can harness the benefits of blockchain technology is the digital advertising industry. The following are the top 5 applications of blockchain technology in digital advertising.

1. Prevention of Fraud

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It is estimated that for every $3 spent on digital advertising, $1 is lost due to fraud. In 2017 alone, $16.4 Billion was lost as ad loss due to fraud in the digital advertising industry. The digital ad industry is laden with fraudsters. Most advertising companies are not able to evaluate if the adverts they place and pay for are able to bring the desired returns or not.

The good news is that this problem can be prevented with the help of blockchain technology. There are several companies that have come up with ways of incorporating blockchain into the authentication process. Some of the companies that are using blockchain to prevent fraud include Ads.txt and MetaX. These companies are using blockchain in the verification of offerings

Another company using blockchain is adChain which is “a set of interoperable open protocols built on the public Ethereum blockchain.” On the adChain, they have an adChian registry which is “a smart contract on the Ethereum blockchain that maintains and stores a record of publisher domain names accredited as non-fraudulent.” With the help of adChain registry, a high level of integrity can be maintained because the fraudsters cannot get the ad transactions.

2. Management of Data

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In the digital advertising industry, data is very crucial. Because of the free nature and usability of Search Engines, Email services and other social networks, a lot of data and company information is gathered and shared and most companies have no control over such. As a result most media companies are not happy with the techniques used to collect company information. Therefore, companies want to be able to control their data and be in charge of the information that can be shared with outsiders. Several companies have come up with efficient solutions for data management.

For instance, Comcast, a cable company, is developing a blockchain Insights Platform whose, “aim is to improve the efficiency of premium video advertising, resulting in better planning, targeting, execution and measurement across screens.”

In the management of data, the major problem is privacy. This is where blockchain comes in handy. According to Comcast, “One application of the Blockchain Insights Platform would be that advertisers and programmers could match data sets more effectively to build and execute media plans based on custom audience segments and more precisely and efficiently target across a nationwide footprint of pay-TV customers and streaming device users. Concurrently, programmers would be able to offer improved targeting precision across screens, increasing the value and quantity of monetized inventory. All participants would ultimately benefit from the resulting reporting and attribution metrics, and new potential revenue streams for participants could emerge for data insights they can generate for themselves and others.”

3. Increased Transparency

Blockchain technology can be used in the verification of marketing claims with the help of smart contracts. This will help the advertising company to deliver on their claims for any advertising plans that they have. The ability of the retailer and customer to negotiate on an advertising contract and then retailer be able to deliver as agreed. This will lead to transparency and in turn, lead to increased sales and a good reputation for the advertising company.

For instance, The Marketing Group (TMG) has a media agency that is known as Truth that is based on the blockchain that gives advertisers 100% transparency. According to TMG, “Truth’s technology uses the same program as cryptocurrency to track how a media buy makes its way from an advertiser to a media owner…. The platform combines the links in the media buying chain and puts the links on blockchain to create a single, immutable ledger of all the transactions. This aims to help clients see where their money is going and should help publishers to get paid more quickly, thanks to the smart contracts.”

Apart from TMG, Unilever is using IBM iX, a blockchain platform that is used to simplify the digital advertisement supply chain which increases transparency with their customers. When the clients understand how their money is going, it helps to increase trust with the advertising company.

4. Piracy Prevention

The digital advertising company can use blockchain to keep track of all their digital assets with the help of watermarking technology. One such media company that is using blockchain technology to track their records such as eBooks, movies and other documents through the blockchain is Custos Media.

To protect their digital records from online piracy, Custos Media use, “the distributed ledger can address the challenge of piracy by creating an immutable record of transactions on any asset, idea or creative work. The digital assets can be tracked throughout their lifetime, even when ownership is sold or otherwise transferred, even when the assets are assigned to players in other industries.”

According to Phil Gomes, a blockchain leader, “I personally believe that a lot of piracy comes from friction in the legal distribution mechanisms. Blockchain technology can enable more frictionless monetization of content to better compete with pirates.”

5. Improved Advertising Target

Blockchain technology can allow an advertising company to keep the records of all their clients. This means that when a company is able to use blockchain, they will have a ledger of all the purchases that a given customer made recently.

The use of blockchain technology by a company can help a company improve their advertising target. This will help the company overcome using the social media platforms such as Twitter or Facebook to reach their customers and even discover new data.

In conclusion, blockchain technology can be applied to various digital advertisers, distributors, content creators, artists, businesses and sponsors to mention just but a few and they will all benefit from its application. This technology helps in the effortless monetization of digital content. This technology has great potential benefits to digital marketers. On one hand, the digital advertising industry is growing and on the other hand blockchain technology has numerous applications which offer a platform for media companies to reach even bigger opportunities.

According to Myron Monets, writing for Native Advertising Institute, “The technology will undergo many changes as new platforms continue to innovate. This is a strength, but also a big advantage. For many native advertisers, going with a stable, known solution will trump the promises of a new blockchain platform.”



Related Articles

What Are Featured Snippets?

The featured snippets are becoming a hot topic nowadays. It has short and crisp information of the user's query. The search engine crawlers extract the information visible into the featured snippets. The most common type of featured snippets you will see are definitions, tables, steps, and lists.

Google is displaying more and more featured results every day. Now on average, more than 70 percent of featured snippets are generating from the sites ranking between position 2-10. It gives the SEO companies a new way to beat the top result and achieve position zero.

Featured snippets are also called position zero, and as their name sounds, they are cutting the traffic of first ranking result.

A position zero is a unique obstruct over the organic search results that Google here and there shows for specific inquiries, usually questions (i.e., who/what/where/when/why/how).

It contains an outline (a paragraph, a list, a table, or a video), also the publication date, page title, connection to the page from which the appropriate response generated, and URL.

Why Are Featured Snippets Important for SEO?

Featured Snippets Affect SEO in two different ways. In the first place, Featured Snippets are a chance to get more clicks from the organic search results without higher Google rankings.

Numerous SEOs call the Featured Snippet box as "Position ZERO" because it shows up over the customary #1 spot.

Information Box and Rich Answers are not lies under the class of Featured Snippets. Here we have described types of Featured snippets and how you can achieve it.

1. Text or Paragraph Featured Snippet

As we all like the extracted answer that immediate answers our search query. Google extricates content from a page trying to respond to the searcher's query. The best approach to achieve the paragraph featured snippets is to answer the searcher's question at the top of the page and then spread light over the topic to keep the searcher engaged.

FAQ pages are ideal for responding to numerous short queries at once, while blog pages are better for complex questions.

Optimize Your Content for Paragraph Featured Snippets

Paragraph snippets are extremely suited for these kinds of searches:

• Comparisons ( X vs. Y)

• Who is…

• Why is…

• How is…

Google is just going to pull a small part of your content, so make sure to give your answer in 40 to 50 words. For a shockingly better possibility at the featured result, incorporate the query as a heading and answer the question straightforwardly.

2. Video Snippets

Other than text snippets, Google may choose a video as the best solution to your query. If so, you will see a video snippet as a result. If you click on the picture, you will navigate to the specific landing page.

For some "how-to" queries, Google has selected to pull in essential videos, featuring suggested clips of the video that is probably going to best respond to the searcher's query.

Optimize for Video Featured Snippets

• Optimization for video content is simple since Google appears to support video content:

• Plan your content step-by-step

• Add a script for the video's captions

• Utilize optimized description with long-tail keywords

3. The Table Featured Snippet

Table snippets are shockingly popular, making up 29 percent of all featured snippets. Google indeed prefers to flaunt its abilities with these. It doesn't simply pull the data and let it display how it is– it can extract the data the user is searching for, and produce its very own table, as in the model underneath.

Optimize for Table Featured Snippets

• If you want to optimize for the table snippet results here are some essential tips to consider:

• Take each necessary step for Google. Feel free to put your information in a table yourself. It will serve your site visitor as you are preparing this for them. It could furthermore make it simpler for Google to find your tabular content.

• Always start with a suitable heading immediately, followed by your table and data.

4. The Bulleted List Featured Snippet

Answers that exhibited in numbered lists or bulleted lists fall under this snippet type. List snippets apply for the parts of posts, which are step-by-step guides and instructions.

Optimize for List Featured Snippets

• Here are some essential techniques to optimize your content for the list snippet result:

• Include the question as a heading

• Answer the question in 40-50 words under the heading

• There's likewise a second way that Google will search for this data: put your list in the table order.

• To do that, organize your content in steps with ordered or unordered list labels. And for each significant activity or level, utilize a heading.

Conclusion

If you need to improve your website traffic and enhance your site's SEO, you should realize that involving the top-10 positions of Google indexed lists isn't the solution. Positioning in featured snippets allows you another opportunity to beat your competitors.

Here's a swift recap of the Techniques:

• Target question-related keywords

• Analyze Google's "People Also Ask" for pertinent queries

• Strive for the first page of Google SERPs.

• Utilize the reversed pyramid style when curating content

• Incorporate words that are probably going to create featured snippets

• Organize your blog post as per your targeted featured snippet

• Don't cross the length of 40-58 words

• Structure your blog post properly

• Add a Q&A page to your site

Author Bio:

Ashish Roy

Since founding a Raleigh SEO Company Cibirix, Ashish has used his marketing knowledge to lead the agency in generating truly efficient digital marketing experiences for clients. He has more than 15 years of experience in digital marketing and loves to write about different types of content in the industry.

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