HYGH – How AdTech Went to the Next Level
To many, Bitcoin and altcoins represent a crazy world that they simply don’t understand. Indeed, when new trails are blazed, it often takes a while for most people to be comfortable with them. In spite of that, it’s hard to argue that blockchain technology and cryptocurrency haven’t made a difference.
One example is Dash currency, which is being used as a way to fight hyperinflation in Venezuela. Instead of having to carry bags of cash to purchase a loaf of bread, some stores allow purchases to be made using Dash currency. Beyond Venezuela, blockchain has attempted to disrupt several antiquated industries in a very positive way.
This article will explore the way in which HYGH may have developed an exciting new platform that could bring digital out of home (DOOH) advertising into the 21st century.
Traditional Advertising Challenges
Before understanding whether a new method can succeed, it’s important to know if the current method is actually working. In the case of advertising, it’s become quite clear that this change is needed. Traditional advertising includes print, television, radio, and cinema. All four of these methods still generate plenty of ad revenue but face serious challenges which include:
- Decreasing Reach
- Lack of Measurability
- Limited Interactivity
- Campaign Inflexibility
And what about online advertising? Online advertising certainly represents an important aspect of any advertising campaign but still has its own fair share of challenges that include:
- Ad Blockers
- Reduced Exposure
- Rising Costs
- Audiences are stretched too thin between so many sites
One of the best ways to reach a mass audience is through outdoor advertising. Outdoor advertising is public and has access to consumers that tend to be harder to find. Additionally, certain demographics such as lower income consumers, may not have ample opportunity to access the most popular methods of advertising such as online or digital.
So, outdoor advertising certainly has some advantages. But, there also some shortcomings. Billboards and paper signage lack interactivity, measurability, and user experience. The initial impact is there, but, decreases sharply after that. Advertisers and consumers need a better way, and the better way is digital out of home advertising.
Rising Popularity of Digital OOH Advertising
Barriers to entry is the economic term describing the existence of obstacles that prevent new businesses from easily entering an industry. Unfortunately, for advertisers, the barriers to entry are significant in the out of home advertising market. The industry is highly centralized in the hands of a few large players who maintain antiquated booking platforms and high overhead costs. It is exactly because of these barriers to entry that HYGH decided to pioneer a new way.
HYGH’s vision is to provide an accessible and innovative platform for advertisers and display providers to connect. The platform will allow any screen to be used for ad space, no matter the location or intended purpose. The screen provider will become an owner of ad space and the ability to earn passive income while the advertiser will be able to run an ad campaign of their choice. The campaign will be highly customizable and very close to real-time. It really is a win-win for all parties involved.
The HYGH platform will place an emphasis on scalability and user experience, and include the following technical features:
- Precise Targeting
- Dynamic Booking
- Easy Setup
- Smart Analysis
HYGH will also feature an interesting revenue share model where the display owner will receive 83.5%, validators will receive 2.5%, the HYGH team will receive 5%, and security token holders will receive 9%.
It’s clear by analyzing recent trends within the advertising industry that change is coming. HYGH appears to have developed both a beneficial and rewarding platform that caters to screen owners, advertisers, and consumers. Why consumers? Because they generally view DOOH ads as the least annoying and intrusive. HYGH will serve as a fascinating case study over the coming years as to whether this approach will work.
Disclaimer: Author holds no investment position in HYGH.
Featured image courtesy of Shutterstock.