Advertisers are looking to use blockchain technology and artificial intelligence to reach customers efficiently and effectively.
The integration of analytical and data-driven technologies with AI and Blockchain can help business better understand customers’ behaviors, habits, interests, and needs. Thus, direct advertisements are easy to access consumers at the right time and the right situation, experts say.
“Blockchain can be a game changer when it comes to marketing. The technology will create transparency, reliability, and positive values,” said blockchain consultant David Lang.
“While users can better manage their personal information, blockchain can help brands not only reach the right customers more effectively but also more accurately measure the performance of each advertising campaign,” he added.
At present, certain weaknesses have become apparent in the advertising industry. Studies have shown that fraud in digital advertising costs $1 for every $3 in advertisement expenditure. Online advertisers estimate that total losses from fraudulent activities in the industry will reach $19 billion in 2018.
Bigbom, an online advertising solution built on the blockchain platform, has clearly identified three major issues that the advertising industry needs to address.
First is the building of trust between the advertisers and ad platforms or publishers. It takes a huge amount of time for advertisers to find and establish a partnership with absolute strangers.
Second, manual advertisement management takes too much time and is inefficient.
Third, the budget for advertisement campaigns is still poorly allocated.
Bigbom, a Singapore company has rolled out Bigbom Ads, Bigbom Contract and Bigbom Marketplace as the promising solution to soothe the mentioned sore of this industry. The first one is a tool which helps advertisers optimize their ads in such an efficient and simple manner. Through their innovative algorithm, this is the flagship product in the journey to change the conversation of digital advertising and make the one-click optimization come true. Bigbom Marketplace powered by Bigbom Contract creates a transparent economy for advertising community to join by harnessing the power of blockchain technology.
Those are Bigbom’s trinity force to revolutionize the online advertising industry. Currently, their products have been launched with the very first attributes and received positive feedback from the interested audience. According to their plan, these services will be up and running in the first two quarters of 2019 with more advanced features.
More information regarding the project is available at bigbom.com as well as their whitepaper.