While buying advertising through TV, radio or print is relatively straightforward and predictable for brands, the rise of digital advertising over the past decade has brought an array of disreputable practices, conflicts of interest and reputational damage.
From ad fraud and viewability problems to a lack of independent verification of ads on platforms such as Google and Facebook, digital advertising is damaging the image of brands and wasting ad budgets.
Marketers are grasping for solutions to these problems and are looking to rewrite their codes of practice on online advertising. They are taking the lead in creating ethical practices in digital advertising, insisting that agencies are transparent about their behaviour and fees, and making sure consumers are not bombarded with irrelevant and irritating ads.
Procter & Gamble has led the way in hatching a solution to the digital advertising crisis. The household goods giant vowed to take back control of the advertising process and believes the move has paid off.
The company has invested in its own data platform and analytics, and has taken steps to move away from bombarding users with high frequency ads, saving up to 30 per cent of wasted digital media spend in some markets.
Many big brand owners such as HSBC, Barclays, GSK and American Express, as well as the UK government, are reviewing their media arrangements.
“Many media pitches have been triggered by these concerns,” says Paul Wright, chief executive of ethical digital media company iotec Global. “I’ve spoken to so many of those clients and to say they are furious is an understatement.”
Read the full article at Raconteur.
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