Advertisers, particularly larger, multi-national advertisers are assuming a greater level of responsibility for their organization’s media investments. The goal is to safeguard those investments and to spend their media dollars wisely.
The actions being taken by advertisers are clearly the result of the media industry not moving quickly or forcefully enough to resolve key issues confronting advertisers. Issues such as fraud, brand safety, viewability, tracking and performance vouching pose serious risks that undermine media effectiveness.
On the fraud front alone, cybersecurity firm Cheq issued a report earlier this year indicating that global ad fraud will cost advertisers “an unprecedented $23 billion” in 2019. Experts have stated that the continued growth in digital media expenditures, which will top $300 billion worldwide, combined with the lack of governmental and industry oversight makes this category highly appealing to fraudsters and organized crime.
Given the complexity of the global media supply chain and the technical nature of the sector advertisers are seeking to increase the level of rigor surrounding media performance and accountability.
Advertisers seeking greater transparency and security over their media funds and data have grown weary of waiting for the requisite level of support from their media supply chain partners. This has led some advertisers to transition certain aspects of their media planning and buying activities in-house. Others have formed or increased staffing and resource support for corporate media functions to enhance controls and stewardship over the investment of their media funds.
More broadly, in the wake of the Association of National Advertisers (ANA) 2016 study on media transparency, the organization in conjunction with its partner in the study, Ebiquity, issued a recommendation for advertisers to “appoint a chief media officer (in title or function) who should take responsibility for the internal media management and governance processes that deliver performance, media accountability and transparency throughout the client/ agency relationship.”
Recently, the World Federation of Advertisers (WFA), through its Media Board, recently announced that its members had formed the Global Alliance for Responsible Media. The Alliance will also be championed by the ANA’s CMO Growth Council, a member organization of the WFA. The council, which includes a coalition of advertisers, agencies, publishers, platforms and industry associations, will focus on delivering a “concrete set of actions, processes and protocols for protecting brands.”
We are hopeful that the initiatives being taken by progressive marketers such as P&G, Mars, Unilever and Diageo will spur the industry to action when it comes to comes to controls that safeguard media spend and improve the efficacy of those investments for all media advertisers.
While a rising tide may lift all boats, as the adage goes, we know from experience that when it comes to media accountability organizations cannot rely solely on the efforts of other advertisers, agencies or associations to protect their self-interests. This requires an ongoing commitment to improving media accountability, performance monitoring and stewardship efforts by them, their agents and intermediaries. In the words of Thomas Francis Meagher: “Great interests demand great safeguards.”