Welcome to the future of advertising! Are you ready to take your Out-of-Home (OOH) campaigns to the next level? If so, then you need to know about blockchain technology. Blockchain is revolutionising industries across the globe and OOH advertising is no exception. In this blog post, we will explore how blockchain can help you reach your target audience more effectively, increase transparency in ad buying and ultimately drive better results for your brand. So buckle up and let's dive into how you can take advantage of blockchain for OOH advertising!
1- What is Blockchain?
As the world becomes more and more digital, businesses are looking for ways to take advantage of new technologies to improve their bottom line. One such technology is blockchain. Blockchain is a distributed database that allows for secure, transparent and tamper-proof transactions. This makes it perfect for use in OOH advertising, where transparency and security are paramount.
OOH, advertising is a $7 billion industry in the US alone, and it is only growing. With blockchain, advertisers can be sure that their ad spend is going towards actual impressions, and not being lost to fraud or waste. Blockchain can also help to track creative assets and ensure that they are being used as intended.
Overall, blockchain provides a number of advantages for OOH advertisers. It can help to increase transparency and reduce fraud, while also providing a secure way to track assets. For these reasons, we expect to see more and more advertisers turning to blockchain in the coming years.
2- What is OOH Advertising?
Out-of-home advertising, also known as OOH advertising, is a form of marketing that reaches consumers when they are outside of their homes. This can be done through a variety of media, including billboards, bus stop ads, and even digital signage.
OOH, advertising offers a number of benefits for businesses. For one, it offers a way to reach consumers who may not be reached through other channels, such as television or radio. Additionally, OOH advertising can be very targeted, allowing businesses to reach specific demographics with their message.
Finally, OOH advertising can be incredibly cost-effective. In many cases, it is far less expensive than other forms of marketing, such as television or print ads. When done correctly, OOH advertising can provide an excellent return on investment for businesses.
3- How Can Blockchain Be Used for OOH Advertising?
When it comes to OOH advertising, blockchain can provide a number of benefits. First, blockchain can help to create a more transparent and efficient media buying process. By using blockchain, buyers and sellers can interact directly with each other, without the need for intermediaries. This can help to reduce costs and increase transparency. Additionally, blockchain can help to track and verify ad impressions. This could potentially be used to create a "proof of view" system, which would allow advertisers to only pay for ads that are actually seen by consumers. Finally, blockchain could be used to create a decentralised OOH advertising network. This would allow for more competition and innovation in the OOH space, as well as provide more options for advertisers and consumers alike.
4- Case Studies of Blockchain-Based OOH Advertising
When it comes to out-of-home advertising, blockchain provides a new way to target audiences and measure the effectiveness of campaigns. Here are some case studies of how companies are using blockchain to power their OOH advertising:
1. Coca-Cola used blockchain to target ads to football fans in Brazil during the 2018 World Cup. The company placed digital billboards near stadiums that displayed real-time information about match scores and statistics. Blockchain was used to verify that viewers were seeing the ads and Coca-Cola was able to track how long viewers spent looking at the billboards.
2. IBM used blockchain to launch an outdoor advertising campaign in New York City that targeted businesses with blockchain solutions. IBM created “IBM Blockchain Zones” where businesses could learn about blockchain and see how it could be used to solve various business problems.
3. Nissan partnered with OPayq to launch a billboard campaign in London that allowed drivers to make payments for parking using cryptocurrency. Drivers could use their smartphones to scan a QR code on the billboard, which would then allow them to pay for parking using OPayq’s cryptocurrency, called oCoin.
4. ad Token launched a global OOH advertising campaign that used blockchain verification to track ad views. The adToken platform allows advertisers to buy and sell ad space on digital billboards using its native cryptocurrency, called adToken (ADT). Advertisers can use ADT to purchase ad space and then track the number of views their ads receive. AdToken also provides real-time analytics to advertisers, allowing them to measure the effectiveness of their campaigns.
5- Pros and Cons of Blockchain for OOH Advertising
As with any new technology, there are both pros and cons to using blockchain for OOH advertising. On the plus side, blockchain can provide a more secure and transparent way to track ad spending and inventory, which can help to prevent fraud and ensure that ads are being placed where they are supposed to be. Additionally, blockchain-based advertising can offer more targeted and personalised ads, since each user’s data is stored on a decentralised ledger. This could lead to higher conversion rates as well as better ROI for advertisers.
However, there are also some potential downsides to using blockchain for OOH advertising. First of all, it is still a relatively new technology, so there may be some bugs or glitches that need to be ironed out. Additionally, blockchain-based advertising could potentially violate users’ privacy if not implemented correctly, as all data would be stored on a public ledger. Finally, setting up a blockchain-based advertising system could be costly and time-consuming, so it may not be feasible for all businesses at this time.
Conclusion
Blockchain technology has the potential to revolutionise Out-of-Home (OOH) advertising, allowing for more accurate and secure tracking of user engagement data. By combining blockchain with other technologies such as Artificial Intelligence (AI), advertisers can create highly targeted campaigns that reach the right audience at the right time. With all of these advantages, it is clear that companies who take advantage of blockchain technology in their OOH efforts stand to gain a competitive edge in today’s digital landscape.
