The World Federation of Advertisers (WFA) represents most of the largest brands in the world, with a combined global annual budget of more than $30 Billion. According to new information released from the WFA, brands that are making new contracts, and even many that are rewriting existing contracts, are putting a major focus on ‘media transparency’ and brand safety.
In addition, quite a few companies are pulling back a lot of the control that they have on advertising from agencies to in-house employees. This includes hiring on people to handle some or all of their digital advertising, or to work directly with ad networks to ensure they are getting the results they need.
According to the report released, the number one priority for these brands is transparency. This is the same as it has been for a while, this year having 47% of brands listing this as the top concern. 51% of brands reported that this is a bigger concern now than it has been in the past, and only 14% said that this issue is showing improvement.
Brand safety is the second biggest concern, and the one that is growing the fastest. 70% of respondents said this is a bigger concern now than it was last year. Other significant concerns include things like ad fraud and viewability.
The head of marketing services at the WFA, Robert Dreblow said, “The WFA has long championed the need for clear and transparent relationships between brands and their agency partners. Last year’s ANA report was a catalyst for a new wave of action by brands not just in the US but around the world, addressing many of the media issues that our members have highlighted including brand safety and ad fraud.” He went on to say, “These actions, coupled with an increasing number of WFA members sharing that they have witnessed improved transparency, are positive signs that we can create an improved media landscape for brands, agency partners and media owners.”
While the report certainly shows that there are still big problems in this industry, there is no doubt that they are starting to be taken very seriously by brands and marketers. As they continue to get more involved, this will force ad networks and others to make additional positive changes in these areas.