What Blockchain Could Mean for Marketing
— May 14, 2018
By Anindya Ghose
In recent years, a major pain point for brands and advertisers has been the lack of transparency and accountability in being able to ascertain how their ad dollars have been spent. Digital advertising is complex, because ensuring that the media that was purchased was actually delivered as it was intended, is non-trival today. Ad fraud is pervasive, and costs marketers and publishers a significant amount of money. Forrester reports that as much as 56% of all display ad dollars were lost to fraudulent inventory in 2016. And the cost of ad fraud globally is expected to increase to $50 billion over the next decade. A recent study into the state of programmatic advertising revealed that 79% of advertisers surveyed expressed worries about transparency, with over a third regarding the lack of visibility on third parties as one of their key concerns. It’s why we are increasingly hearing that major brands like P&G have cut their ad budgets, because their media agencies failed to give them the transparency they needed.
Read the full article as published by Harvard Business Review.
Anindya Ghose is a Professor of Information, Operations and Management Sciences, Professor of Marketing, and Academic Director of the Masters of Science in Business Analytics program.