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VERY rarely does any speech at a conference shake the tech, marketing and media worlds simultaneously. But two weeks ago, the chief marketing officer of the world’s largest global advertiser did exactly that.
Read More The Star Online: ‘Landmark’ changes to advertising world
Last week, the Doomsday Clock was moved from 3 minutes to midnight to 2.5 minutes to 12. Scientists believe that the chance of the world going up in a thermonuclear puff of smoke is the highest it’s been since 1953. This in the same week that Marc Pritchard, the global brand building officer from P&G, made waves by announcing that P&G, in effect, had moved the hand of the ad-spend doomsday clock to 12. High noon!
Read More MediaPost: P&G Wants To Drain The Digital Advertising Swamp. Who’s Going To Step Up?
Thousands of 30-minute conference speeches about marketing and media will take place this year, but Procter & Gamble chief brand officer Marc Pritchard has already delivered the most important speech of the year.
It was a bold admission of failure by the chief brand officer of the world’s largest advertiser: “I confess that P&G believed the myth that we could be a ‘first mover’ on all of the latest shiny objects, despite the lack of standards and measurements and verification.”
After a long period of talk and nice conference discussions, is the start of 2017 finally turning out to be the start of really doing something about transparency? With today’s massive P&G announcement, it would certainly appear so. We’ve had a lot of talk and it’s probably fair to say that media agencies have had to be, shall we say, “inventive” with how they keep margins up — but could we now be seeing a year of clamp-downs?
P&G isn’t going to give digital a free pass anymore.
Its agencies, ad tech partners and publishers must enable viewability and third-party measurement and root out fraud. Contracts must be transparent.
Australia’s top brands have joined the world’s biggest advertiser Procter & Gamble in calling for tough action against questionable practices in digital advertising to protect them from a growing crisis about the way ad dollars are spent in the online world.
Read More The Australian Business Review: Brands join P&G demanding action against online ad shonks
Procter & Gamble Co., which claims to be the world’s largest advertiser, is reviewing every one of its agency contracts as part of a crackdown on rip-offs related to digital marketing.
Read More Cincinnati Business Courier: P&G cracking down on media shenanigans, ad chief says
A study from the World Federation of Advertisers (WFA) — a trade body that represents brands such as P&G, L’Oréal, and Emirates — found that nearly 90% of the advertisers it polled are reviewing their programmatic advertising contracts and demanding more control and transparency.
Marketers across the globe are adapting their relationships with agency trading desks to gain greater transparency into programmatic buys, according to the World Federation of Advertisers (WFA).