Advertising is like a black box we do not know what part of it works. From the conventional adverts to the current state when advertisers are pushing the boundaries of the internet, advertising has come a long way in an effort to reach out to the potential audiences in their respective demographics.
Advertisers are exploring maximizing the reach of their adverts not just through the conventional medium of mainstream advertising like google and facebook but newer mediums like Virtual Reality as well.Yet because of the nature of the way advertising is managed there has been some bad actors at play who make a serious dent in the money being spent on advertising.
Ad fraud the biggest challenge that the advertising & Marketing industry faces
Lets look at these numbers…
The current advertising spends are $563 billion every year of this $16 billion are lost annually on account of ad frauds. This amounts to 20% of total revenue lost.
Bigger brands can still survive such frauds but what about small and medium guys?
A Use Case My Experience
I relate to this situation in my personal capacity as a small business owner. I and my friend had started a online web design company a couple of years back. We had used google to bid for keywords in the hope to garner business from the internet.
In the beginning we got some business but then our online campaign caught the fancy of someone who generated a lot of clicks on our ads and drained our budget even before we could understand what was happening.
It could have been someone purposely trying to generate affiliate earning or a competitor trying to hijack our online campaign. Either way we lost big time and had to give up this idea entirely. Those were early days of internet advertising for us but it gave us a fair sample of the rampant ad fraud that is underway.
So what is the solution? or will the advertising world remain a happy hunting ground for thugs who loot the advertisers?
Luckily as I recollect this bitter experience a change is underway.
The change is called ClearCoin.
ClearCoin is a decentralized software application powered by the distributed blockchain ledger that would impart transparency and efficiency to the $563 billion media and advertising industry.
Using the ClearCoin (CCR) tokens it aims to combat the $16 billion a year ad fraud.
It is a decentralized market place for advertisers and publishers. It is a software interface that you can access using your desktop or mobile phone.
So much for the technical mumbo jumbo lets see how the interface would work for us.
To begin with any advertiser or business can access the entire advertising market place through an app on the android phone or an iphone.
The marketplace would also be accessible through the desktop
So what would it feel like to manage an advertising campaign through this marketplace?
ClearCoin is like the magic word “open sesame” that opens up the entire world of advertising at the click of a button
on our mobile through an app or our desktop computer.
The moment we open the software interface we would see everyone who could matter in respect to our advertising campaign
It is a very efficient way to manage advertising and marketing when
Brands, the Marketers, Agencies, Ad Networks, Publishers, Publisher Networks, Demand Side Platforms, Supply Supply Platforms are all available under one platform.
Not only can we assign them work but can closely monitor the results they bring in in response to our campaigns assigned to them.
Based on the requirements of the campaign and the changing nature of our requirements we can not only gauge the performance the reach and effectiveness of the campaign in real time and helps advertisers tweak their campaign. Since the entire flow is well monitored so it becomes easy to identity and weed out anyone trying to cause a fraud.
I have managed many a campaigns and have realized that the innovativeness to reach out to the select audiences is equally matched in practically every campaign by those trying to dupe the advertisers of their hard earned money.
Over the years I have witnessed it all as frauds typically range from generating false click on CPC campaigns to using bots to inflating the numbers in case of CPV campaigns to generating fraudulent sales for cashbacks. Whenever we design a new approach we have to account for a certain loss on due of fraud in the system but not any more now we would have a better grip on our campaigns.
Let us see how our life would change as an advertiser.
A single interface would let me manage all my ad campaigns across different platforms be it facebook, google or the new kid on the block Virtual reality. I would be able to easily manage my campaigns and monitor their progress in real time.
Dealing with multiple ad networks has been a cumbersome exercise and now I can manage all my networks and affliates easily.
ClearCoin uses the blockchain to create a marketplace where the businesses can engage agencies advertishers and manage their campaigns. It does away with the third party intermediaries and gives the advertisers full control over their campaigns.
ClearCoin marketplace is built to utilize a blockchain distributed ledger to mange and track the ad campaigns.
It uses a common currency the ClearCoin tokens (CLR) so I as a business can engage affliates and ad networks from any part of the world and yet pay them with one common currency the ClearCoin tokens (CLR)
This would make managing multiple individuals and agencies much easier and I can engage them based on their performance which I can monitor 24X7
I am already beginning to like this concept and the fact that the ICO for its ClearCoin tokens (CLR) is under way and has a track ICO rating of 5.0 gets me excited for this ICO that is designed to bring the advertisers and publishers work in tandem and lower the cost of advertising and increasing the efficiency and transparency
What really excites me about this ICO is that we can use both steem and steem dollars to invest directly into this ICO
for more information about the ICO and the project please refer to the following links
ClearCoin Website
ClearCoin WhitePaper
ClearCoin YouTube
ClearCoin BitcoinTalk Forum
ClearCoin Medium
ClearCoin LinkedIn
ClearCoin Facebook
ClearCoin Twitter
ClearCoin Instagram
https://steemit.com/cryptocurrency/@originalworks/120-steem-submission-bonuses-sponsored-writing-contest-clearcoin
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