The World Federation of Advertisers has published its Global Media Charter, a written call to arms designed to engender reform of the digital ad ecosystem to the benefit of both brands and consumers.
Setting out eight ‘Principles for Partnership’, the document seeks to build on concerns raised by Procter & Gamble, Unilever and others on the issues of transparency, brand safety, ad fraud and viewability by creating a mandatory framework that all agencies, ad tech firms and media platforms must comply with to secure future ad revenue.
WFA chief executive Stephan Loerke said: “The digital ecosystem has grown so rapidly, it’s no wonder that it’s far from perfect. But the time for indulgence is over. The largest chunk of the world’s marketing budgets is now invested in digital platforms and advertisers have a right to demand that the money they invest can be clearly tracked and understood. It’s not just about knowing that budgets have been well spent. We also need to be reassured that brand and consumer interests are protected in these new platforms.”
To catalyse this change the WFA has broken the issue down into eight key principles; namely ‘zero tolerance’ for ad fraud and compensation for any breach; tougher brand safety protections; minimum viewability thresholds and transparency throughout the supply-chain.
Other action points for both advertisers and media include third-party verification and measurement as a minimum requirement; removal of walled-garden issues; improving data transparency standards and improving the customer experience.
Going forward the WFA is calling on all parties within the media value chain to collaborate on the implementation of these eight principles.