PepsiCo improves ad efficiency by nearly 30% using blockchain program
PepsiCo has registered a 28% increase in efficiency for its ad campaign by implementing a blockchain-based ad campaign. The food and beverage giant partnered with MindShare media agency in the program which was deployed on Ziliqa’s blockchain.
MindShare, which is part of the WPP advertising conglomerate, announced via a press release that the test ran in March in the Asia Pacific region. The companies used a control versus test budget to evaluate its effectiveness. They wrote:
“Mindshare observed up to 28% increased efficiency in terms of costs for viewable impressions, in running the campaign through smart contracts, versus one without.”
PepsiCo also partnered with MediaMath, Rubicon Project and Integral Ad Science in the pilot program. The program was part of Project Proton, an initiative that seeks to address the challenges that come with programmatic advertising. Announced six months ago, it utilizes smart contracts deployed on the Ziliqa blockchain. MindShare explained:
“These smart contracts reconcile impressions that are delivered from multiple data sources with payments facilitated using an internal Native Alliance Token (NAT) all in near real time, resulting in major efficiency gains and complete transparency for the brand owners.”
Project Proton gives advertisers control over the ads they pay for. It automates the payments based on the verified views, enabling advertisers to only pay for the ads that “have been deemed viewable, brand-safe and free from any ad fraud.”
Moreover, the platform ensures that the entire process is transparent to the advertising brand. This enables the brand to monitor every payment in the entire process. The records are also encrypted so that the stakeholders only get to view the records that are relevant to them.
The director of consumer engagement for PepsiCo, Farida Shakhshir was full of praise for the blockchain-based initiative stating:
“We are happy to be partnering with Mindshare to test the application and value add of blockchain in media. It is key that we stay abreast of new technologies, and continue to advance transparency, viewability, brand safety and buying efficiency. The results are encouraging, and we plan to run a few more campaigns under different conditions to verify more hypotheses and measure overall impact.”
Blockchain has increasingly been used in the advertising industry as stakeholders seek a more transparent alternative. In 2017, a collection of global media companies launched a blockchain advertising platform known as the Blockchain Insights Platform. Comcast, Disney, Channel 4, Mediaset Italia and NBCUniversal were some of those who joined.
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