Magnetic’s CEO James Green is the author of the March Marketingland.com column which tackles advertising fraud and the lack of safeguards for brands. But when buying ads on open exchanges through programmatic advertising, there are no guarantees where the ads will run, which leaves brands with loss of control.
Marketers have increasingly demanded accountability for their digital media spends and are looking for transparent and standard metrics to support digital advertising effectiveness. This wake up call was issued by Proctor & Gamble’s Chief Brand Officer, Marc Pritchard, who asserted that he doesn’t “want to waste time and money on a crappy media supply chain” as he urged the industry to fix issues his company has been demanding for over a year.
Green suggests we rally around change and offers a “recipe” to cure advertising fraud:
Lemon laws are American state laws that provide a remedy for purchasers of cars in order to compensate for products that repeatedly fail to meet standards of quality and performance. Marketers need to find a way to legitimately address the concern over paying for a “defective” advertising campaign. By defective, I mean paying for an ad that is not seen or viewed. This starts with sellers of media being responsible for the ads they sell. If I sell an inappropriate ad impression to an agency or brand, they shouldn’t pay for it. But if I bought that impression from an ad exchange, then I shouldn’t pay for that impression. This accountability should continue all the way back to the seller.
Trump was elected, at least in part, because millions of people wanted a change. Now it’s our turn for our industry — we should be the ones to drive change, not be driven by it. This needs to start with agreeing to viewability standards, rather than dissecting why they won’t work. It’s imperative that we define our standards.
What stops one from making an unethical choice? Generally, it’s our individual moral compass. We need consensus-driven industry guidelines and an “honor code” that every person, no matter function or title, can responsibly live up to.
We are an industry that is constantly changing and we have come so far in advancements and creativity. But in order to reach our full potential, we need a cure for foolishness and we need industry reform. Read the full Marketing Land column, A digital marketing CEO’s prescription to cure advertising fraud and discover how you can promote transparency and drive the industry forward.
Magnetic is a digital marketing and artificial intelligence company. We use machine learning and AI to deliver smarter, faster, and more effective advertising. Our powerful AI platform continuously analyzes the attributes of 320 million live user profiles alongside real-time inventory supply and bid opportunities to deliver highly performant and profitable campaigns for our clients.