How is trust in advertisement possible?

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From the course by Rutgers the State University of New Jersey

New Technologies for Business Leaders

54 ratings

Rutgers the State University of New Jersey

New Technologies for Business Leaders

54 ratings

This introductory course is developed for high level business people (and those on their way) who want a broad understanding of new Information Technologies and understand their potential for business functions (e.g. marketing, supply change management, finance). This is not a course for people looking for guidance on how to become a deep technical expert or implement these technologies. From Blockchain over Artificial Intelligence to Virtual Reality technologies: This course will empower business leaders to embrace the concepts and bring the state of the art information technologies into their organizations to improve client and customer engagement and ultimately the bottom line of their businesses. Instead of digital disruption, the new technologies and management methods will become the foundation of a Digital Transformation journey for better customer relationship management and client satisfaction. The content is structured in a way that promotes discussions on challenges that business management and marketing functions face due to the rise of new technologies such blockchain, cryptocurrencies, internet of things (IoT), virtual, mixed and augmented reality (VR/AR), artificial intelligence (AI) and big data. This course will use case studies to explore frameworks, tools, and strategies that are already proven in the real world and prepare ourselves and our organizations to have the tools needed to succeed in a fast and changing world. This course is not a deep technical curriculum, but based on thousands of hours helping (often C-level) executives to grasp the technologies' potential in their own areas of expertise. This course is available in English.

From the lesson

Blockchain technology applications and crypto currencies

This module introduces the fundamentals of Blockchain technology, as a key accelerator of the evolving customer engagement including and far beyond the crypto currencies. The module presents practical scenarios by industry and how Blockchain can change current business models to benefit the customer and client relationship and also discuss how Blockchain technology combined with IoT and AI creates synergies for organizations. Finally, we will provide a list of communities created around Blockchain.

Blockchain is everywhere: From Healthcare to Media11:21

Chain your customers with blockchain technologies7:32

How is trust in advertisement possible?4:54

Blockchain and black markets4:29

Communities on the move9:42

Blockchain based future is as unlikely as a future without the Internet12:00

Guest Lecture by Jeremy Epstein - Marketing with Blockchain Technology1:50

Meet the Instructors

Mark Mueller-Eberstein, Dipl. Kfm.
Instructor of Professional Practice - Faculty
Rutgers Business School

The one area of marketing where we will see blockchain technology's impact very,

very quickly is advertisement.

The fundamental changes in advertisement through

blockchain technology will hit us and our customers much, much earlier.

Remember that some of the fundamental truths of marketing and advertisement,

like half of the money is spent,

you just don't know which one,

I'm not sure anymore.

In this lesson, we will tell you why.

This statement, that for every one dollar you invest in advertisement,

you only get 44 cents that's less than 50 percent of value,

is as old as marketing itself.

But Forrester analysts say that publishers who remove middlemen can increase

the cost per thousand impressions from one to five dollars for themselves.

Today, we have a lack of transparency between you and your intended audiences.

We now have this enough visibility and how advertising is actually performing.

And on the internet advertisement, bots,

malicious code is causing a seven point billion dollar in

loss through fraud in advertisement per year.

Blockchain therefore is one of the first,

and it's one of the key, technology that can transform advertisement here.

Customers maintain their own identity and control their own information.

Marketers will have to pay each individual to get their attention.

Good news, much greater trust in knowing that your advertisement and

all toward efforts are going exactly where you intended them to go.

Bad news, we really have to pay for attention.

It's required to know if I can interrupt you now and I have to compensate you for it.

This is a dramatically different experience than the one we have today.

A customized cryptographic proof of their identity,

the app will create the opportunity for us to engage with them,

to know they're interested in our product and they respond in time,

and we can engage with them with our message.

We will probably see marketplaces where each person will

set a price for their guaranteed attention and

advertisers then will choose to pay or not to

pay that individual's cost to deliver their message.

But the good news is if the advertisers decide they will pay,

they get a response that is verifiable

from that particular individual that we are trying to target.

I believe in advertisement of blockchain, everybody can win.

The advertisers and agencies will win because they can engage users and

verify their message reach a targeted real human and not a bot.

The publishers of content will win,

now they have an opportunity to get a fair exchange of value as

rapidly as possible from the advertisers for the audience attention,

and that generates the funding for them to

create better site content for their user base.

And the users, they will win too.

They get access to content as inexpensively as possible.

They don't have to waste their attention on

intrusive messaging and without feeling spied on,

get the messages they want to see,

when they want to see it.

Trust and proof are really

the underlying concepts of the blockchain technology that come to fruition here.

Jack Charlton I think is quoted as,

claims of differences without proof are really just claims.

But with blockchain technology,

we can deliver the proof to the end users.

Blockchain technology can help to provide verifiable proof that,

for example, the percentage of employees a vendor has are women, minorities, or veterans.

We can prove how much money our brand is donating to

charity and what our real customer satisfaction scores are.

We can prove to our customers,

who on end-to-end combination of IoT and customer data in blockchain,

that the defect rate of our product is at

a certain level and can force our competitors to match that information as well.

And I think we will see on time and on budget delivery rates going up.

Retention rates of our customers going up as well when they have that information.

Blockchain technology provides you with the ability and the veracity of

our claims to build trust with your audiences.

Trust is really whatever definition you choose.

You will need to do three things well.

You do need to live up unquestionable trust via blockchain-based proof.

You will need to inspire belief in the core vision and

mission of your product and your customer engagement model.

And you can create a circular economy of value with the vision and mission by getting

your customer input and providing blockchain-based proof to show that that is possible.

I'm excited to see blockchain technology in advertisement changing the game.

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