That’s something radio executives will be happy to hear, because it’s coming from a major advertiser. Procter and Gamble’s Chief Brand Officer Marc Pritchard said it on Sunday. Radio executives have long been concerned that advertisers were throwing buckets of money at all forms of digital and social, mostly because it’s the shiny new thing, not necessarily because it’s increasing business. And that’s been a big challenge for radio in recent years. Pritchard urged the rest of the ad industry to follow P&G’s lead. “It’s time to grow up. It’s time for action.”
At the annual IAB Leadership Meeting on Sunday, Pritchard said P&G will accept only the MRC-validated viewability standard for media transacting. P&G expects all of its agencies, media suppliers, and platforms to adopt the standard in 2017. Pritchard also emphasized the importance of transparency in the media supply chain, eliminating fraud, and putting creativity first.
Triton Digital President of Market Development John Rosso told Radio Ink Pritchard is right on the mark. “An independent third party validation of audiences and ad exposure is critical to the success of both media and marketers. One of the things that separates online audio from most other types of advertising is the accuracy of the planning metrics, and the almost complete lack of fraud and viewability problems in the medium.”
AdAge reports that P&G will conduct a review of all media-agency contracts, after the company found a surprise in its dealings with at least one agency, plus requirements that everyone use industry-standard viewability metrics, fraud protection, and third-party verification. Pritchard said the company has vowed to no longer pay for any digital media, ad tech companies, agencies, or other suppliers for services that don’t comply with its new rules.