Throwing ads at a potential customer when it has not been requested and when the customer is in the midst of something else will fail as a revenue source. How will business approach their customers in future? New models, seeking to establish a personal relationship between advertisers, companies, the media etc. on the one hand and the end consumer on the other, might offer a solution.

GOODBYE ADVERTISING…

“Traditional advertising simply cannot be carried over to the internet, replacing full-page ads on the back of The New York Times or 30-second spots on the Super Bowl broadcast with pop-ups, banners, click-throughs on side bars,” Eric Clemons claimed in his resonant article for TechCrunch.

There are at least three main reasons why traditional advertising fails to deliver the desired results, says Clemons: 1. People do not TRUST ads; 2. People do not WANT ads; and 3. People do not NEED ads.

So, even though these three facts (!) are quite obvious to anyone, businesses still spend billions on advertising. This might be due to the lack of alternatives.

A lot of improvement has been made to the traditional advertising approach, e.g. like more advanced targeting, which only makes the necessity of radical innovation more apparent. If we realize that better targeting of ads, considering individual interests and behaviors of consumers, will ensure that ads do not bore or annoy as many people with each ad, we still cannot address the trust issue. Building trust demands personal and consistent communication.

… AND HELLO PERSONALIZED CONTENT!

But how can you communicate in a one-to-one fashion with audiences of, possibly, millions of web users? A digital startup says they can help; BehaviourExchange uses big data analytics and text mining in a novel way, creating an artificial intelligence powered platform that basically changes the communication paradigm.

While online media and advertising mostly send messages in one way and subsequently analyze the results, the new model enables a real-time interaction between a website and each visitor. This allows for automated personalization of content and offers, at the same time enhancing efficiency (resulting in bigger sales) and the user experience.

IN SHORT: Firstly, BehaviourExchange identifies and profiles visitors of a website in real time and, secondly, enables an automated customization of website content so that each visitor is greeted with a personalized offer of products, services and media content. Thirdly, the use of blockchain technology warrants a decentralized and safe record of all data.

The startup relies on blockchain to keep its records of user interactions decentralized and safe. While they are already testing the platform in a live environment, it will certainly take some additional work before the service is commercially available. To expedite development, the team behind BehaviourExchange recently announced a pre-sale of their tokens (BEX) to early contributors.

You can find out more about the pre-sale on their official website and don’t forget to follow them on Telegram!

There are millions of small businesses today that have difficulties getting to know their customers well enough; their demographic and psychographic characteristics, their interests, feelings, lifestyle preferences etc. With this precious insight businesses are able to adjust their offers and content on their websites according to each customer’s needs and interests — with the help of BehaviourExchange they can do that in real-time.