The World Federation of Advertisers (WFA) has published a Global Media Charter, designed to create the conditions for a marketing ecosystem that works better for brands and consumers.
The new charter is a collaboration between more than ten of the world’s top advertisers, as well as advertiser associations in the top ten global ad markets, which includes Australia.
It sets out eight clear ‘Principles for Partnership’ designed to create a better, more balanced, digital marketing ecosystem.
Working closely with Procter & Gamble, Unilever, Mastercard and Diageo, it seeks to build on the concerns in the areas of transparency, brand safety, ad fraud and viewability.
The eight Principles for Partnership require action from both advertisers and those across the media value chain. They are:
- Zero tolerance to ad fraud with compensation for any breach
- Strict brand safety protection
- Minimum viewability thresholds
- Transparency throughout the supply-chain
- Third-party verification and measurement as a minimum requirement
- Removal of ‘walled garden’ issues
- Improving standards with data transparency
- Take steps to improve the consumer experience
“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," WFA CEO Stephan Loerke says
"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."
The WFA and those companies and advertiser associations who helped develop the charter, are calling on all players in the media value chain to work together to implement these eight principles.
“As the market continues to change quickly, global brands are being more tangible and specific about what we expect from the entire ecosystem; our tech partners, agency partners media owners and digital platforms," Mastercard senior VP of Media and WFA Media Forum co-chair Ben Jankowski says.
"The WFA’s Global Media Charter is designed to ensure that everyone has the same common understanding of what we all need to do to thrive. Everyone should join us on this journey.”
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