In the end of 2017 Adblockchain’s early founders identified inefficiencies in the catering and lifestyle service industries and decided to take on the challenge. Most of the marketing solutions in the industry used by various merchants such as restaurants, salons and stores did not solve the core problem of business owners which is minimizing the costs while maximizing the customer flow.
Existing solutions to increase customer base could be classified by those that are cheap but not capable of bringing large number of customers; while the second type of solutions promise to bring large number of customers by providing discounts, however the costs of such campaigns for the business owners may even exceed the potential profit.
| How do we innovate the existing models?
Solution to this problem lies in application of Sharing Economy concept and innovating business models to make the process beneficial for all participants. As a result Adblockchain introduced another party to the platform - Advertisers. Advertisers are sponsors of discounts provided for merchant owners to increase customer flow with discount marketing. Niche consumer user base (discount seekers) turned out to be very attractive for Advertisers and it also let Adblockchain to utilize the advertising budget in order to cover discount expenses on behalf of Merchants.
However Adblockchain was missing a final piece of the puzzle which is providing full transparency for Advertisers. Emerging technology of blockchain was the key factor to solve the transparency issue and make the best advertising experience for Advertisers. This challenge could be solved with the help of Adblockchain’s founders who have proven success record and multiple years of hands-on expertise in ICT and blockchain industry.