Do you know how much money was spent towards online/digital advertising in 2017? Close to 230 billion USD. And, the projected value of the global digital spending for the year 2021 is approximately 375 billion USD. Based on the above statistics, it is clearly evident that the digital advertising market will be growing at a constant rate at least for the next five years or so. That’s why the advertisers are deeply interested in gathering personal information about the internet users so that they can create custom campaigns based on the target audience.
Identifying the right type of audience should be the first and foremost step to market any product/service. Why? Let me tell you an example. Let’s assume that a fictional company named FitX is developing a new sports accessory exclusively for men. And, it would like to study the market for its product in a particular region. Will a 70-year old man be interested to buy this product? It doesn’t make any sense to market this product to women as the product is available only for men. That’s why promoting the brand to the right kind of people is crucial. Ideally, this product can be targeted for teens or adults who are regularly participating in outdoor activities or sports events like football, basketball, cricket and more.
What kind of tool will the advertiser use to gather the above information? Believe it or not, they can find quite a lot of information from the Facebook or Google profiles of the users. Because you can easily find out the location and gender of any person by visiting their profile even if you are not a friend to them. If the settings of a Facebook profile is not set to private, you can dig and find a lot of information about their likes and interests as well. That’s why our personal data is considered as the greatest asset for the next century.
Now, the most important question is: Are the users getting any kind of rewards for their data? Not at all. Almost majority of the users are not even aware of the fact that their personal data are seen and utilized by a lot of people in the world. Thanks to the GPDR act, at least those located in the EU would have gained a basic knowledge of protecting & controlling their data. GPDR is not against data sharing, but it regulates on how it is shared. In fact, it will make the concept of data sharing simple, secure andtransparent.
Even though many companies have negative views about GPDR, Liberdy is an exception from that. Because it aims to give fair compensation to the users for providing their valuable data by strictly abiding by the upcoming GPDR regulation. Read more at http://webstickprojects.co.il/liberdy/wp-content/uploads/2018/04/liberdy-lightpaper.pdf
Basically, Liberdy is a data management platform (DMP) that aims to connect the users with the advertisers by providing equal benefits to both of them. Using Liberdy, advertisers can get the first hand and superior quality of data directly from the users by sending them few LIB tokens. These tokens will be used as the primary payment option for the Liberdy platform. Check out https://liberdy.io/ to learn more information about LIB tokens.