Chargebacks911® COO Monica Eaton-Cardone’s New Guest Feature for TMCnet
Monica tackles the impact of click fraud on advertisers’ budgets in her new guest feature for TMCnet. Specifically, she looks at whether blockchain technology may hold the solution to the problem.
Online advertising can be a lucrative strategy to drive traffic—and customers—to a site. Unfortunately, fraudsters use tactics like click farms, hit inflation, and bots to try and steal from advertisers. All totaled, click fraud costs businesses at least $7 billion every year. As Monica explains, though, blockchain technology could address this problem.
“The open ledger model on which blockchain technologies are built allows for transparency and accountability at every stage of a process,” she explains in the post. “As a result, businesses can much more easily identify who accounts for what share of their ad spend. If specific users or nontargeted areas generate an outsized portion of clicks, that should raise an immediate red flag.”
Despite blockchain’s utility, relatively few advertisers have completed an ad buy using blockchain. This is partially due to a lack of awareness among advertisers about the technology. More than that, though, are concerns about just how reliable blockchain technology might be.
“As much as we love new technologies, no one wants to be a guinea pig…especially with their livelihoods on the line,” Monica continues. “Even if blockchain technology presents some clear advantages, we’re still several years out from any widespread adoption.”