Newspapers, media corporations with online presences and newer digital platforms often voice concerns that the unclear, unregulated nature of the ways in which ads are placed these days makes it difficult to rely on ad revenues. Inefficiency and high costs are other commonly heard complaints. A handful of big players wants to make the rules of the game fairer.
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Sixteen big firms in advertising, IT and media recently made a collective call for more clarity in their industry, so that money could be more reliably spent and tracked and ROI becomes more of a reliable quantity and less of an e-mystery. The big-name companies, more usually accustomed to being rivals, are working together to help add some transparency and fairness to tracking in regards to how money is dropped in the advertising supply chain, which has more missing links today than ever before. A call for a renewed commitment to fair trade practices and verification of claims and content is growing louder.
Less bang per buck
Before the digital revolution, publishers could bank on making around 85 cents out of every dollar spent on advertising. That percentage per ad for the publishers has been reduced by more than half according to some estimates. This big drop in advertising income for media corporations takes on even greater significance when combined with how there is a burgeoning multitude of platforms for getting messages out, not to mention the ever-present pressure to reboot their relevance for the long-term.
More persuasive PR, please
The countermove comes as part of the multi-pronged action that will be needed to short up trust in consumers, who have grown even more circumspect in regards to claims made by companies and celebrity endorsers. Brand loyalty has diminished. Peer reviews and C2C support is at an all-time high. Buyers are turning to bloggers, the best of whom are somehow managing to carve out a reputation for integrity and valid information in an Information Age becoming increasingly mired in fake news.
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