LOS ANGELES, Feb. 11, 2019 /PRNewswire/ -- Lucidity, the advertising transparency company, today revealed findings from the industry's first blockchain pilot program focused on providing brands with greater transparency to better inform media buying decisions.
In conjunction with the IAB Tech Lab's Blockchain Pilot program, Lucidity's blockchain technology authenticated a series of campaigns with over a dozen advertisers by adding a transparency layer to brand programmatic media buys. The resulting aggregate data is the most complete record of results from a blockchain-powered digital advertising solution to-date, including such finding as:
- Discrepancies are an indicator of harmful activity such as fraud & waste: Blockchain can be used to identify discrepancies in data, allowing brands to optimize against harmful activity such as fraud and waste in real time
- High rates of impression discrepancy plague programmatic: 14% of all impressions served were discrepant, meaning only 86% were confirmed as non-discrepant across the supply chain
- There are even higher rates of click discrepancy: 48% of clicks were flagged as discrepant. Only 52% were confirmed by the supply chain
- In-app mobile inventory had much higher rates of impression discrepancy than mobile web inventory: Only 2 out of every 3 in-app mobile impressions were able to be confirmed, flagging nearly ⅓ of in-app mobile impressions as questionable inventory
- Optimizing against discrepancies led to significant lift in performance: With optimizations from Lucidity generated insights, overall impression match rates improved by 13%, and click match rates improved by an average of 22%
- When paired with conversion tracking, optimizing against discrepancies improved conversion rates: By eliminating discrepant impressions and clicks, one campaign saw conversion rates increase by over 214%
"Overall, optimizing the campaigns away from placements with high levels of discrepancy that flagged for fraud and waste led to a significant lift in performance," said Sam Kim, CEO and Co-Founder at Lucidity. "Brands deserve to know what they're paying for. We're only going to achieve that through transparency and valid data."
The IAB Tech Lab has taken a leading role in investigating the benefits of blockchain technology. "The pilot results are meaningful progress in support of how blockchain can bring about a more reliable, transparent and trustworthy ecosystem," said Dennis Buchheim, Senior Vice President and General Manager, IAB Tech Lab. "The brands and agencies that collaborated with Lucidity are contributing to valuable learnings that will help us identify where blockchain could have meaningful, near-term value in advertising, and how standards and best practices could play an effective role."
Lucidity's Ad Transparency Report 2019: Assessing Blockchain's Ability to Fight Fraud and Eliminate Waste in Digital Advertising can be downloaded here: https://lucidity.tech/project/transparency-report-2019/
Lucidity was named one of Business Insider's "Most Interesting Ad Tech and Mar Tech Companies of 2018," and the company was recently selected for IBM's Blockchain Accelerator Program. The Lucidity team will be presenting at the IAB Annual Leadership Meeting taking place February 10-12, 2019.
Lucidity makes advertising transparent. When advertising analytics are measured differently by every member of the digital advertising ecosystem, then data discrepancies are inevitable, campaign optimizations are difficult to make, fraud is easy to hide, and the media marketers buy may not end up being the media marketers get. To solve for this, Lucidity uses the blockchain to authenticate every impression and click to fight fraud, eliminate waste and drive greater outcomes for advertisers. For more information, please visit http://lucidity.tech.