Only 11% of advertiser and agency executives have completed ad buys using blockchain technology, according to a survey by advertising industry business intelligence company Advertiser Perceptions. In the report, commissioned by XCHNG, an open source decentralized blockchain for the digital advertising agency, 300 advertising decision makers were asked questions about their attitudes toward and adoption of blockchain media solutions.
Highlights of the survey’s findings include:
- Two-thirds of marketing professionals are skeptical of blockchain media solutions: The troubled narrative around crypto has tainted the image of blockchain in advertisers’ minds.
- Interest is high, but execution is low…for now: While half of advertisers report having met with a blockchain provider, just 1-in-10 has executed any ad buying using the technology.
- Blockchain is the Promise Land? Nearly 70% of advertising decision makers indicate that significant issues such as lack of transparency and inaccuracies in the supply chain are considerably affecting their ROI, and more than half believe blockchain can help address these issues.
- Adoption within the next 2 years: Of those who met with a blockchain provider to discuss solutions, most of them plan to purchase data utilizing blockchain technology in the next couple of years.