Traditional digital advertising has lost its edge. Pop-up ads get largely ignored or blocked by consumers. Digital advertising is ineffective and unaffordable for small businesses to reach local focus groups. In addition, local retail markets are tightening up through competition from e-commerce platforms. These tendencies are limiting local competition and potentially accelerate unemployment in a centralized consumer market.
The consumer’s issue with advertising isn’t related to the source material itself, no matter how sophisticated. It’s rather that the timing between a purchasing decision and unintentional digital advertising is often misaligned. Therefore, most ads are actually ineffective for advertisers and don’t offer any added value to potential consumers. Hence, they get ignored. This is most difficult for local markets, as they cannot benefit from general purpose ads, if set clientele isn’t within close proximity to the outlet. Another reason how online-shops gain the upper hand over local retain in terms of customer awareness. Ads can be helpful and welcome to guide us when we shop around (e.g. price comparisons). It’s how we browse the web, but how could this work locally?
Challenges caused by technology, digital advertising, can be solved with technology, a mobile search engine for local products and services. On-demand ad content however won’t be enough to push user adoption. There are plenty of free services that are payed with user data. VANM promises anonymity while 50% of all ad revenue will be shared with the community in return for their ad consumption. What’s more, it is a peer-to-peer marketing platform and content creators hub for self-employed brand ambassadors.
VANM wants to allow reasonable expenditures for local advertising to help start small businesses with high exposure to potential customers. Blockchain based payments can further increase profitability and offer customers a unique reason to visit new vendors that accept this new type of currency.