Permission is taking a bold move in an ‘industry first’ by creating a demand-side bidding platform (DSP) that rewards consumers in ASK cryptocurrency for sharing data and engaging with brands. The DSP, named Permission® Ads, will connect advertisers with millions of consumers around the globe and play a central role in all of the company’s innovations moving forward. This patent-pending, state-of-the-art ad bidding platform offers a unique exchange of value, unlocking performance in key conversion and ROI metrics that is unparalleled in the media buying industry today.
What Is A DSP?
A demand-side platform, or DSP, is a platform that allows advertisers to run a variety of ad campaigns globally on the Open Web through a single interface. Currently, nearly all of online advertising takes place within ad exchanges using real-time bidding systems like the Trade Desk and Google Ads. By utilizing a DSP, marketers can manage their bids for banners and other ad formats on multiple ad exchanges at once. With all of this functionality built into one product, advertisers have outstanding visibility into their campaigns and can truly maximize the impact of their ads.
Launching an ad campaign through a DSP is typically very quick and easy. Advertisers begin by simply choosing an ad format and their targeting settings. They then upload any creative, allocate a budget to the campaign, and let it run – all while optimizing performance on a regular basis.
DSPs play an integral part in the advertising infrastructure that underpins the internet, allowing advertisers to achieve the broadest reach with their campaigns. Permission’s DSP will effectively integrate into that existing advertising infrastructure, greatly expanding our ability to connect advertisers and consumers.
What Makes Permission Ads Special?
Unlike any other DSP, Permission Ads offers rewards in the form of its digital currency, ASK, for engagement with advertisements. This offers an immediate, consent-based mechanism for first-party data collection which offers value that is equally compelling for marketers and consumers alike.
By utilizing Permission Ads to reward consumers, advertisers can quickly and easily create opt-in audiences and incentivize brand loyalty. Ad campaigns are created in the standard format, bolstered by a customizable allocation of ASK with which to reward ad engagers.
On the user side, consumers that engage with ads are immediately rewarded with ASK as well as a rightful sense of value for their time and engagement. The advantages of ASK as a crypto reward are that it is a global currency that’s convertible, transacts inexpensively and quickly, and never expires. Consumers who are not already signed up with Permission will be prompted to create an account, which furthers potential future engagement.
Why Is Permission Ads So Important?
For starters, Permission Ads establishes and enables a true two-sided marketplace for ASK between advertisers and consumers. It also creates a virtuous cycle which will propel network growth. This is because the more first-party data that users provide to the platform, the more attractive it becomes to advertisers. The more advertisers that join and expand the scope of their campaigns, the greater the potential for members to earn from their data. And when there is greater ASK earning potential, it will naturally attract more users to the platform who will share their data, feeding the cycle.
Permission Ads not only allows Permission to serve rewarded advertisements on our own platform, but is integrated with major supply partners to connect brands to inventory from top publishers around the world.
By establishing a direct relationship with the consumer, advertisers will be able to acquire immensely valuable first-party data which will be directly transferred to their CDP or DMP, enabling brands to obtain the data they need to build new audience profiles and enhance existing ones.
Permission Ads is also important because it solves potentially very expensive, not to mention complex, pain points for advertisers in the compliance arena. According to Gartner, an astounding 73% of marketers fear that privacy concerns will negatively impact their marketing efforts. Permission Ads is built with consent as a cornerstone and therefore meets all current data privacy regulations, including GDPR, CCPA and LGBR, making it easy for advertisers to deploy effective campaigns in a compliant manner. In addition to regulatory changes, the upcoming deprecation of the third party cookie – the technology that has powered the marketing industry for decades – is leaving advertisers scrambling for new ways to collect valuable data and successfully target key audiences. It is reported by Ad Age that 80% of marketers are concerned about the impact of third-party cookie deprecation on personalization and ROI. A permission-based, and first-party data-focused advertising model is a path forward to our cookieless future. Permission Ads provides that and more.
And for consumers, they are at last empowered to control, and if they so choose, monetize their data by opting-in to receive relevant, personalized communications. Consumers will also likely never forget the first time a brand rewards them for their engagement in crypto. When advertisers treat consumers with dignity by respecting their right to choose, they can expect to build genuine relationships and increase long-term brand loyalty. Indeed, consumers that willingly engage are more likely to have an interest in the offering and trust the manner in which it is being sold, restoring confidence to the digital advertising world in an age where trust is severely lacking.
This is a significant leap forward for Permission, as well. It will allow us to expand our vision of a fair Internet where users are rightly compensated for their personal data.
What’s Next?
Permission Ads is expected to be live in beta by Q4 of 2021. It will evolve in stages: as a managed service at first, and a self-service after that. The Permission Ads team engages directly with the marketer’s creative team to come up with a custom, branded solution which rewards the target audience for engagement and permissioned data. Permission Ads is integrated with major supply partners to connect brands with ad inventory from the world’s top publishers. Our team handles all logistics related to compliance and rewarding of users, allowing brands to focus on what they know best: reaching and delighting their customers. Brands that are interested in Permission Ads are welcome to contact us by filling out the form on our Advertiser page.
Ultimately, Permission Ads will help Permission to spread the message that individuals should own their data. And when enough people begin taking back control of their data and demanding compensation for it, this will reshape advertising on the internet as we know it to a new model where all brands must ‘ASK Permission.’