SAN DIEGO: Permission.io, a permission-based advertising provider, said it is launching a demand side platform called Permission Ads.
Permission Ads offers rewards to consumers who consent to sharing their data with advertisers. Permission has created its own coin, called ASK, which advertisers can give to users as a way to monetize their data while guaranteeing higher levels of engagement for advertisers.
The ad-buying platform will allow advertisers to run consent-based ad campaigns that comply with privacy laws, which in turn aim to increase trust between marketers and consumers. When consumers engage with an ad and share first-party data, advertisers can reward them with ASK. Ads will run beyond Permission's own platform, including across the open web.
The company's goal for Permission Ads is to provide a solution to a future without third-party cookies by relying on first-party data collected with permission from the consumer. Beyond incentivizing engagement and building trust with consumers, Permission Ads will increase return on ad spend and allow advertisers to validate a user's identity, thereby decreasing wasted ad spend.
Permission.io also said there are benefits to the consumer in that they can take back some ownership and control over their own data and have the opportunity to receive ads that are more relevant to them.