Toyota Used Lucidity’s Blockchain to Boost Advertising Campaign Performance by 21%
Lucidity's Blockchain Partnership With Toyota Boosts Campaign Performance
Blockchain advertising analytics company, Lucidity, has piloted its partnership with Toyota and agency Saatchi & Saatchi to cut digital ad campaign wasteful spend.
So far, the partnership has improved campaign performance by 21% by introducing transparency.
With $15 billion market size for automotive digital advertising in the U.S, cutting waste and increased campaign performance is pivotal in the industry. Therefore, it is a bit surprising that Lucidity-Toyota partnership is the first blockchain powered campaign to date.
The campaign performance was calculated by comparing non-optimized placements versus Lucidity's optimized placements with the goal of driving conversions to quality site visits.
Nancy Inouye, National Marketing Communications Manager at Toyota:
“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.”
Lucidity offers auditable data across all parties in the supply chain and ensures that advertising standards are being enforced. The platform can identify data errors that arise from a suspicious activity like domain spoofing, bot traffic, and even auction games like bid caching.
In the Toyota campaign, 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.
Sam Kim, Co-Founder and CEO of Lucidity told BitcoinExchangeGuide.com that:
“Through the Toyota case study, Lucidity demonstrated that its Plasma sidechain can handle digital advertising scale, cost effectively. It ran millions of impressions with bursts that often exceeded 10,000 transactions per second.”
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.”
“Lucidity wants you to know what you're paying for and where you're wasting money, so you can direct your spend to maximize ROI,” said Nikao Yang, Chief Operating Officer of Lucidity.
“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.”