One of the fundamental requirements of ad campaigns is effective analytics. You, as a marketer, want to know precisely how your ads are being displayed, where they’re being shown, how they’re converting and how accurately these metrics are all being tracked. These needs only increase in importance as a given ad campaign becomes more complex.
There is, however, a fundamental problem to how these performance analytics have been tracked up to now: A lack of complete transparency. Yes, social or search advertising platforms like Facebook, Google, Twitter and others, as well as numerous small ad management services, have both human and algorithmic systems in place to handle this problem to deliver varying degrees of analytics precision, but they all suffer from ambiguity gaps. In other words, while you can have ad campaign metrics for performance delivered to you in detailed reports, full transparency for verifying the progression of actions that led to them step-by-step is largely out of bounds.
This is where blockchain technology such as that used by Pinmo steps into the picture in a distinctly innovative way. In order to explain how it does this, let’s take a quick look at how a basic blockchain works first.
In essence, a blockchain is a distributed ledger of sequential transactions (these transactions being events of any kind in which information is recorded and exchanged). The different nodes, or computers, across which the ledger transactions are distributed all represent parts of that particular blockchain’s network. Every time a transaction happens within a blockchain, it is spread among all these nodes and has to be cryptographically validated by a majority of them through a sort of automatic consensus mechanism that stamps the transaction as a legitimate event in said blockchain’s sequence.
When this happens, the transactions being validated are added as new cryptographically stamped “blocks” in the sequential chain of all previous validated transactions. This chain of blocks is spread across the entire distributed network ledger for the sake of additional security through decentralization. The whole thing in its totality is what we now call a blockchain. Since each transaction block comes sequentially after previous blocks and attaches to them by a cryptographically unique mathematical hash process, the sequential integrity and origins of any given block are absolutely secure.
This in turn assures anybody who looks at the whole blockchain that the timeline of transactions contained in each block represents completely validated and real events inside the platform that the chain is being run on. Because most blockchains are completely open for detailed examination, anybody can examine every sequence of activity inside each block in minute detail to verify its legitimacy.
This description of the blockchain is of course very basic. Plenty of additional and highly detailed mathematical processes work behind the scenes to make a blockchain function as it should. However, these basics alone are enough to make it obvious how this technology can be helpful to the validation of online advertising metrics.
Basically, by making each possible piece of activity in an ad campaign –be it the creation of an ad, its sharing by someone else, a converting click on that ad by another person and so forth—into a mathematically “tagged” transaction inside some sort of customized blockchain ledger, an advertising platform like Pinmo can deliver perfect campaign tracking.
In other words, with blockchain integration of ad campaign activity at its most granular level, Pinmo or any other ad platform that does the same thing can deliver not only overall ad campaign analytics, it can also let an advertising client examine the blocks for their ads for themselves. By being able to do this, the advertiser can see the exact process of actions by the ad platform and third parties that made any given advertisement perform poorly or well. The level of analytics this delivers is far more detailed than has been the case with conventional ad campaign analytics up to now.