Transparency in Digital Advertising
As a growing trend in the food industry, it’s really important to show consumers the details of ingredients, where they coming from, whether they are natural, they are vegan or not and etc. Therefore, consumers can choose a food/meal which one is the most suitable for them. The same situation is applicable to the data industry as well. Where advertisers and agencies can pick a data set from the menu and know its source.
Audience targeting is the most important feature for digital advertising, which means that data and the data sources are more important than ever before. Advertisers would like to target their potential customers, increase the awareness and consideration, and thereupon increase the purchase and their revenues. Their only will is to reach consumers who can actually afford their products.
Transparency in digital advertising cannot be ignored. So, what is transparency in digital advertising?
Transparency in digital advertising is important from two perspectives: cost and inventory. According to Bannerflow Product Owner, Björn Karlström, “you need to know where your banners are served. And you need to know where your money is spent in the ad tech chain. Without this data, your media budget is out of control, you cannot make well-founded decisions, and you are susceptible to fraud.”
Over the past decade, marketers have allowed agencies to work independently when purchasing ad space. They are supplying a lot of freedom to agencies and ad tech providers. As a consequence, lots of brands used to pouring money into the black box for digital advertising. For this reason, programmatic advertising and real-time bidding start to rise, and traditional advertising has been replaced with automated systems.
A way to increase transparency and use advertising expenses more effectively is to operate it in-house. For example Pernod Ricard’s director of finance and operations Gilles Bogaert: “We still use some creative agencies, but on production, [it can make more sense] doing it ourselves”.
According to P&G’s Marketing Chief Marc Pritchard “better advertising requires time and money, yet we’re all wasting way too much time and money on a media supply chain with poor standards adoption. Too many players grading their own homework, too many hidden touches, and too many holes to allow criminals to rip us off“.
The truth is that you should mind about the ads your brand uses and the context in which people view it. And most importantly, whether the people you work with depend on transparency.