Lack of viewability, nontransparent contracts, fraud, etc — Issues with the ad networks — states P&G brand officer
In an Adweek article by Lauren Johnson, published last year some of the issues faced by the big companies in relation to the digital advertising were stated. It said:
What would you do with a $2.4 billion marketing budget?
You could buy 1.2 trillion online ads. Or you could take over 600 Times Square billboards for an entire year. You could even create 34,285 new marketing jobs, each with an annual salary of $70,000.
Those figures explain why it is that every agency, platform and digital media player has been on high alert since Procter & Gamble chief brand officer Marc Pritchard, who holds the strings to the conglomerate’s $2.4 billion annual U.S. advertising purse, threatened to yank his company’s spend if they fail to address the growing mess of issues in digital advertising like fraud, brand safety and transparency.
This past January, Pritchard raised more than a few eyebrows when he laid out an elaborate, five-point mandate during a speech at the Interactive Advertising Bureau’s annual leadership meeting in Hollywood, Fla., essentially giving all of P&G’s digital advertising partners — namely, the duopoly of Google and Facebook and agencies — a one-year ultimatum stipulating that they clean up their practices and play by the megabrand’s rules or risk losing lucrative 2018 money from the country’s largest advertiser.
“Frankly, there’s, we believe, at least 20 to 30 percent of waste in the media supply chain because of lack of viewability, nontransparent contracts, nontransparent measurement of inputs, fraud and now even your ads showing up in unsafe places,” Pritchard says.
He isn’t alone in his opinion among brand execs. As concerns about transparency and clear measurement standards from platforms swell, CMOs from a handful of the world’s biggest advertisers, including Unilever, Johnson & Johnson, Chase and Bank of America, are using their collective billions of dollars to take control of where and how they spend digital budgets.
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