Toyota has entered into partnership with blockchain advertising analytics firm Lucidity to manage issues of fraud and promote transparency in digital ads campaign. The new announcements were made through a press release published on October 16.
Car maker Toyota and Saatchi &Saatchi, a global ads agency are looking to eliminate wastage spending in digital ads. Through the partnership with Lucidity Toyota aims to be as transparent as possible when it comes how ads are being bought and managed. The global automotive digital advertising market is estimated to be worthy nearly $15 billion in the US alone.
Toyota Digital Ad campaign results with Lucidity
Toyota Motor North America director Nancy Inouye Reportedly told Adage that their partnership campaign with Lucidity resulted in 21% upstick in the automotive company’s website. Additionally lucidity was able to flag sites that showed high level of clicks and impression discrepancy, indicators of fraud and bots. The analytics firm then moved the funds to sites with higher performance.
According to advertising publication Adage Toyota plans to lengthen its deal with lucidity and go beyond the originally planned three week test. Inouye also said that Toyota was keen to dive into the programmatic space in particular because it’s an area where there is few transparency and visibility. “We are in discussions to take it to the next step and test further with additional campaigns for a longer period of time. We feel that if we go longer we would see stronger results.” she added.
Media director at Saatchi & Saatchi Tom Scott stated that apart from the high standards of anti-fraud and viewability filters already built within lucidity it was still able to offer a significant value by further optimizing their ad campaigns. “This is the first time we’ve been able to use blockchain technology to eliminate waste and optimize our ad buy in this way.”
The media industry is battling transparency issues such as fake traffic counts, domain spoofing, bot clicks and unaudited fake transactions. In recent years Blockchain has been deployed to address these issues. In June 2018 global ad software giant mediaocean partnered with IBM to use blockchain to bring transparency to the advertisers.