Big brands are coming together to force through changes to the digital ad market in order to make it more transparent and safer for all.
Late last week, a new Global Media Charter was released by the World Federation of Advertisers (WFA) with eight clear principles that it believes are central to reform and the long term viability of the digital ad ecosystem. The framework was created after input from major advertisers including Mastercard and P&G.
Trust in ads, for both brands and consumers, has declined during the last two years due to problems with transparency in the industry. The new charter aims to address these issues by setting out a system that agencies, publishers and ad enterprises should adhere to if they desire advertising revenue moving forward.
“The digital ecosystem has grown so rapidly, it’s no wonder that it’s far from perfect. But the time for indulgence is over,” WFA CEO, Stephan Loerke said. He elaborated that the vast majority of global marketing budgets are invested in digital platforms, so it follows that advertisers have the right to insist that they can transparently see how and where their money is invested.
The eight principles are short and to the point, and include a “zero tolerance to ad fraud”, “strict brand safety protection”, “minimum viewability thresholds” and “transparency through the supply chain”. Loerke said the WFA’s framework goes beyond merely maximizing ROI and touches on aspects that will ensure everyone is protected.
RBS CMO, Davel Wheldon added: “Put simply, it’s the only future for the online advertising ecosystem.”