Branding royalty–CMOs that control some of the industry’s largest advertising budgets–have been firing shots across the bow of platforms like Google and YouTube all year.
Folks like Mark Pritchard, Keith Weed and others have been making news since this spring over brand safety and related issues.
This week they're at it again, which is where our bright idea in branding comes from. It's actually an idea that sits at the intersection of two fascinating articles:
Check out the episode to see why advertising measurement might need to evolve and what the industry might be demanding from the change.
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Hey everyone. It’s Josh from Brandish Insights. Today on Bright Ideas in Branding we're going to cover a dogfight in the industry. Let's take a look.
So here we have an article entitled, Digital Advertising is Facing Its Ultimate Moment of Truth And Billions of Dollars Are At Stake, By Lauren Johnson. So Mark Pritchard from Procter and Gamble and other CMOs–basically marketing royalty– they’re demanding that Facebook, Google and other advertisers give them better tools to do their advertising.
And so to frame this up,$2.4 billion marketing budget for Procter and Gamble.
And he's saying that, Pritchard is saying, ‘We believe at least 20 to 30 percent of waste in the media supply chain because of lack of viewability, nontransparent contracts not transparent measurement of inputs, fraud, and now even your ads showing up in unsafe places.”
Wow. He's got a lot of gripes. Let’s unpack that a little bit.
So the first thing he's saying is transparency.
So number one: where are our ads showing up?
We need to know that. We want to show. We want to see the websites. We want to see you know what was the true engagement with those ads. And since he made a big stink and actually pulled some budget back in March along with a bunch of other folks, they are, these advertising platforms have made some improvements.
Facebook and YouTube have given better controls to make sure that ads you know don't show up in places where brands don't want them to, among other things. And Pritchard is saying that there is some progress being made.
So he's saying that about you know 50 percent. Halfway there. Halfway there folks but we need to get even further
So he's saying that there is improvement:
About 80 percent of the way there in terms of the transparency he'd like to see
50 percent of the way there in terms of fraud. So he's saying that there's still a lot of wasted dollars because essentially these ad platforms are doing shady things. And he's pretty disappointed with that. That's the thing that's lagging behind the other two. Transparency and the third thing which is…
Measurement he says there were about 60 percent of the way there.
And when it comes of measurement effectiveness Pritchard is saying that about 60 percent of the way there. What is that 40 percent gap. And this is where Keith Weed, also featured in this AdWeek article, is saying that that you know brand safety, ad fraud, ad blocking, the three Vs–viewability, verification and value– all important issues, concerns me though is an industry that we look at them each with tunnel vision jumping from one to the other rather than seeing them as connected and part of a holistic digital landscape.
And that's the clue that I think we should be following.
That brings us to our other article usually we only want to feature one one feature to today because The Drum: Rebecca Stewart she has covered this little study that says 90 percent of publishers, brands, and agencies say that cross-media measurement would help drive digital ad spend.
And so it's interesting here in this study. I think it's a 700 or so publishers advertising agencies et cetera. They're saying that they want tools that don't just measure advertising but measure cross media so into organic into social into referral.
Ultimately what these folks need is brand measurement and that's why I think both this article from The Drum and the article from AdWeek are connected.
The CMOs over at P&G and at Unilever and other places they're saying advertising itself is starting to break down a little bit and we need better measurement tools there. And what the Europeans are saying and I'm hoping there's studies that will make their way to the U.S. that are similar in nature is that we need to be measuring things across media not just with advertising.
And that's where that 40 percent gap that Mark Pritchard is talking about comes from. So that I think is this week's Bright Idea in Branding is that we need better overall measurement if we want to cover the spread that Procter and Gamble and others are saying still exists between the advertising tools that we have today and the marketing effectiveness that we're looking for.