LOS ANGELES, Oct. 16, 2018 /PRNewswire/ -- Lucidity, the blockchain advertising analytics company, today announced its partnership with Toyota and agency Saatchi & Saatchi to introduce transparency into Toyota's digital ad campaign buy and eliminate wasted spend. Through the Lucidity-optimized campaign, Toyota saw a 21% lift in performance - even after optimizations from industry leading fraud and viewability solutions.
The automotive industry is one of the most heavily advertised in the world, with an estimated nearly $15 billion market size for automotive digital advertising in the U.S. alone in 2018, yet this is the first blockchain powered campaign to date. The performance was calculated by comparing non-optimized placements versus Lucidity's optimized placements with the goal of driving conversions to quality site visits.
Lucidity provides auditable data across all parties in the supply chain and ensures that advertising standards are being enforced. For example, Lucidity's platform can identify data discrepancies that arise from 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.
"Before today, there was no way to verify with confidence what's happening behind the scenes in a programmatic buy," said Nancy Inouye, National Marketing Communications Manager at Toyota. "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."
In the partnership, Lucidity's unique analytics offering compared and optimized, blockchain-confirmed data across the programmatic supply chain. Unlike existing solutions, Lucidity moves beyond probabilistic models to provide deterministic data at the log level for deeper optimization against impression and click discrepancies, a major differentiator and driver of campaign lift versus using probabilistic existing solutions alone.
"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," said Tom Scott, Media Director at Saatchi & Saatchi. "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."
Lucidity is a member of the Interactive Advertising Bureau Tech Lab's Blockchain Working Group which recently announced its inaugural blockchain pilot program, the first of which are live campaigns verified by Lucidity's blockchain technology. Lucidity has already secured a variety of customers and pilot partners including GameStop, Viamedia, The Richards Group, Giant Spoon, and more. Lucidity was recently awarded Blockchain Startup of 2018 by The Blocks Awards and Best Marketing Analytics/Attribution Platform in the Digiday Technology Awards.
Lucidity is a digital advertising blockchain protocol bringing transparency and trust to digital advertising. Lucidity is the market leader using blockchain technology for digital advertisers and publishers to mitigate fraud, transact with trust, and maximize ROI. Lucidity was founded to tap the power of blockchain and cryptography to deliver transparency to the digital advertising supply chain for a cleaner ecosystem in which honest players benefit the most. The company is based in Los Angeles. For more information, please visit http://lucidity.tech and continue the conversation on Telegram.
Media Contact: Rich Gallagher
Resound Marketing for Lucidity
+1 (609) 279-0050 x 118