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{"id":6299,"date":"2020-06-15T09:14:10","date_gmt":"2020-06-15T07:14:10","guid":{"rendered":"https:\/\/wegreece.com.gr\/?p=6299"},"modified":"2020-06-14T19:42:12","modified_gmt":"2020-06-14T17:42:12","slug":"kfc-implements-blockchain-to-track-media-buying","status":"publish","type":"post","link":"https:\/\/wegreece.com.gr\/en\/kfc-implements-blockchain-to-track-media-buying\/","title":{"rendered":"Kentucky Fried Chicken (KFC) Implements Blockchain To Track Media Buying"},"content":{"rendered":"KFC announced its status as the first quick-service restaurant (QSR) in the MENA region to implement an innovative blockchain platform for its digital advertising and media buying. Ads, the backbone of any direct to consumer business, will have greater transparency through the new blockchain-based framework that KFC will implement.<\/p>\n

KFC\u2019s Foray Into Blockchain-Enabled Ad Buying<\/h2>\n

The digital advertising industry is fraught with conflict of interest. Companies can \u201cfake\u201d impressions and clicks through various methods such as robots and click farms. Consumer brands may end up paying for users or conversions that are not real or authentic because of the lack of transparency inherent in the ad buying space.<\/p>\n

KFC believes that introducing a blockchain layer will help bring further transparency to the ad buying process and increase the brand\u2019s visibility and penetration. The fact that blockchain is a real-time \u201cliving\u201d database will enable faster feedback loops in the distribution of more timely and relevant messaging. The company also expects to reduce overall ad expenditure in certain areas as it concludes more quickly that some channels are not producing optimum ROI. This will maximize ad placements and optimize advertising revenue.<\/p>\n

Ozge Zoralioglu, Chief Marketing Officer, KFC, Yum! Brands\u00a0commented<\/a>:<\/p>\n

\u201cHistorically, marketers have collected data from various different sources and run a campaign pegged on these mismatched insights. Today, marketers must get to the original source of the data: the consumer. Blockchain technologies ensure that they get first-hand information from the target audience themselves.<\/p>\n

By innovating with a sophisticated blockchain solution, KFC can now benefit from enhanced visibility of real-time data and the most updated insights \u2013 all with full confidence that information is authenticated, tamper-proof and hence credible. Leveraging blockchain technology\u2019s immutability means that together, we are able to improve trust, transparency and efficiency in our supply chain.\u201d<\/p><\/blockquote>\n

Quick Service Restaurants Dabbling in Crypto<\/h2>\n

CryptoPotato reported in January 2019 that\u00a0KFC<\/a>\u00a0in Canada had launched a marketing campaign in which it launched a special edition item \u2013 the bitcoin bucket. For a limited time, you could pay for food using Bitcoin.<\/p>\n

January 2020 also saw an increase in crypto adoption with Burger King Venezuela announcing a partnership with CryptoBuyer the\u00a0option<\/a>\u00a0to use cryptocurrencies to purchase food at locations in Caracas.<\/p>\n

It remains to be seen whether restaurants such as KFC will take a deeper dive into the cryptocurrency landscape by introducing their own tokens in the future. One thing is for sure \u2013 leveraging blockchain for advertising transparency may have synergies with bootstrapping ad audiences into a network of repeat customers through programs such as\u00a0loyalty points<\/a>. It remains to be seen whether KFC will expand accordingly into other blockchain verticals.<\/p>\n

Source:\u00a0https:\/\/cryptopotato.com\/kentucky-fried-chicken-kfc-implements-blockchian-to-track-media-buying\/<\/a>\n

0<\/span><\/a><\/div> <\/div>
<\/div><\/div>
<\/div>","protected":false},"excerpt":{"rendered":"

KFC announced its status as the first quick-service restaurant (QSR) in the MENA region to implement an innovative blockchain platform for its digital advertising and media buying. Ads, the backbone of any direct to consumer business, will have greater transparency through the new blockchain-based framework that KFC will implement. KFC\u2019s Foray Into Blockchain-Enabled Ad Buying The digital advertising industry is fraught with conflict of interest. Companies can \u201cfake\u201d impressions and clicks through various methods such as robots and click farms. Consumer brands may end up paying for users or conversions that are not real or authentic because of the lack of transparency inherent in the ad buying space. KFC believes that introducing a blockchain layer will help bring further transparency to the ad buying process and increase the brand\u2019s visibility and penetration. The fact that blockchain is a real-time \u201cliving\u201d database will enable faster feedback loops in the distribution of more timely and relevant messaging. The company also expects to reduce overall ad expenditure in certain areas as it concludes more quickly that some channels are not producing optimum ROI. This will maximize ad placements and optimize advertising revenue. Ozge Zoralioglu, Chief Marketing Officer, KFC, Yum! Brands\u00a0commented: \u201cHistorically, marketers have collected data from various different sources and run a campaign pegged on these mismatched insights. Today, marketers must get to the original source of the data: the consumer. Blockchain technologies ensure that they get first-hand information from the target audience themselves. By innovating with a sophisticated blockchain solution, KFC can now benefit from enhanced visibility of real-time data and the most updated insights \u2013 all with full confidence that information is authenticated, tamper-proof and hence credible. Leveraging blockchain technology\u2019s immutability means that together, we are able to improve trust, transparency and efficiency in our supply chain.\u201d Quick Service Restaurants Dabbling in Crypto CryptoPotato reported in January 2019 that\u00a0KFC\u00a0in Canada had launched a marketing campaign in which it launched a special edition item \u2013 the bitcoin bucket. For a limited time, you could pay for food using Bitcoin. January 2020 also saw an increase in crypto adoption with Burger King Venezuela announcing a partnership with CryptoBuyer the\u00a0option\u00a0to use cryptocurrencies to purchase food at locations in Caracas. It remains to be seen whether restaurants such as KFC will take a deeper dive into the cryptocurrency landscape by introducing their own tokens in the future. One thing is for sure \u2013 leveraging blockchain for advertising transparency may have synergies with bootstrapping ad audiences into a network of repeat customers through programs such as\u00a0loyalty points. It remains to be seen whether KFC will expand accordingly into other blockchain verticals. Source:\u00a0https:\/\/cryptopotato.com\/kentucky-fried-chicken-kfc-implements-blockchian-to-track-media-buying\/ 00<\/p>\n","protected":false},"author":1,"featured_media":6301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64,63,69],"tags":[],"class_list":["post-6299","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-blockchain","category-events"],"yoast_head":"\n- We Greece KFC Implements Blockchain To Track Media Buying<\/title>\n<meta name=\"description\" content=\"KFC Implements Blockchain To Track Media Buying We Greece [:el]\u03a4\u03bf Kentucky Fried Chicken (KFC) \u03b5\u03c6\u03b1\u03c1\u03bc\u03cc\u03b6\u03b5\u03b9 \u03c4\u03bf Blockchain \u03b3\u03b9\u03b1 \u03bd\u03b1 \u03c0\u03b1\u03c1\u03b1\u03ba\u03bf\u03bb\u03bf\u03c5\u03b8\u03b5\u03af \u03c4\u03b7\u03bd \u03b1\u03b3\u03bf\u03c1\u03ac 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