An initial advertising campaign for automotive manufacturer Toyota tracked by blockchain technology saw a 21% increase in visits to the company’s website, compared to similar campaigns, the company announced in a press release published on October 17, 2018.
Lucidity’s Blockchain Pilot with Toyota Results in 21% Lift in Campaign Performance
Lucidity, a blockchain advertising analytics company, announced its partnership with Toyota and ad agency Saatchi & Saatchi for a new pilot campaign on October 17, 2018. According to the company’s official press release, the campaign will be the “final test” that will show if a blockchain-powered online ad campaign could “deliver real results for real brands.”
The test seems to have been proved successful, as Toyota saw a 21% lift in performance through the Lucidity-optimized campaign – even after optimizations from industry leading fraud and viewability solutions. The performance was calculated by comparing non-optimized placements versus Lucidity’s optimized placements with the goal of driving conversions to quality site visits, the company noted in its release.
The campaign involved an analysis of data on clicks and impressions to find discrepancies, which included domain spoofing and bot traffic, online magazine Ad Age said. The system allowed Lucidity to shift budget to higher performing sites and eliminate wasted advertising dollars.
Nancy Inouye, National Marketing Communications Manager at Toyota, said that before this campaign, there was no way to verify with confidence what’s happening behind the scenes in a programmatic buy. Inouye also said that the company had its eyes on blockchain innovation for a long time, but didn’t have a workable blockchain solution to implement until they partnered with Lucidity.
Lucidity’s Campaign Unlocks Huge Potential for Blockchain in the Automotive Industry
Tom Scott, Media Director at Saatchi & Saatchi, said that the ability to have access to a transparent, clean set of data from across the programmatic supply chain is game-changing for the industry. He also added that this is the first time that the advertising giant was able to able to use blockchain technology to eliminate waste and optimize ad buy.
Lucidity’s Toyota campaign marks the first blockchain powered campaign to date, in any industry. The success of the campaign performance might bring technology closer to other large car manufacturers.
According to Lucidity’s press release, 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 US alone in 2018.
Lucidity’s CEO, Nikao Yang, said that the new blockchain pilot gave Toyota deeper, log-level optics into their ad spend at every point in the supply chain. The deep data the company received enabled them to maximize their ROI and combat most of the challenges associated with traditional supply chains in advertising.