According to Statista, the projected global spending on various advertising campaigns would amount to about $557.99 billion in 2018 with an annual growth rate of 4.3%. Digital advertising has been on the forefront of advertising campaigns in recent times. It is expected to have a global expenditure of $112.6 billion in 2018. This reveals that the digital advertising sector will be the de-facto mode of advertising in the near future.
Hitherto the industry has been plagued with the challenge of knowing which advertisement campaigns are effective in driving conversions. It is very difficult for companies to track which medium produces the greatest return on investment despite the huge sums of money invested. Many digital advertising agencies also do not provide these companies with the latest trend in marketing and how the advertising mediums they use could help them realise their goals. Infact, most agencies do not have authentic means of advertisement. Instead they contract them out to freelancers who provide fake traffic that are not relevant to the company’s goals.
The digital agencies usually have the power to choose which medium to use for the advertising campaigns of their clients. Most of the time, they employ very low-quality means in order to maximise their charges. They use strategies like pay-per-click which is very susceptible to fraud.
Recent advances in online advertising has brought efficiency to the advertising industry. It features the use of automated softwares to facilitate the buying and selling of digital advertising, thereby cutting off human agents. In the traditional means of buying and selling ads, big advertising companies buy wholesale ads from different companies and sold them in units to advertisers. This process is often characterized by disputes and inefficient ad purchases. In the programmatic system, buyers can purchase ads through real-time bidding or buy guaranteed ad impressions from publishers. They can then customize their campaigns to target more relevant customers and hence increase conversions. This approach makes the processes cost-effective for businesses and eliminates disputes to a reasonable extent. The opportunities afforded by this approach are profound. Certain companies are already planning to implement this.
Ubex will further extend the capabilities of the programmatic advertising system to enable it realise its full potential by implementing the blockchain technology and artificial intelligence.
In the next article, I will explain hw Ubex works and what makes the platform unique. For more information, visit their website, Telegram Group, whitepaper and ANN Thread.
This article was written by Paul Omits. You can reach out or check my profile (fempat) on BitcoinTalk.