Why are so many chief marketing officers (CMOs) in the UK overhauling their digital strategy? A recent Censuswide survey of 100 UK CMOs and marketing VPs at companies with a turnover of at least £20 million found that a vast majority (95 percent) of CMOs overhauled their digital strategy in 2017. The change comes in light of concerns over the last year by CMOs about brand safety (83 percent of survey respondents) and ad fraud (77 percent of respondents).
These growing concerns have rightly led marketing heads to make changes and be more intentional about transparency expectations with suppliers and agencies they work with. In fact, the research found that 44 percent of CMOs plan to review their relationships with suppliers and 43 percent intend to review the agencies they’re currently working with. Furthermore, 93 percent have said that the agencies and suppliers they’ll work with from now on will have to be able to prove brand safety and transparency.
Amidst all this concern over brand safety and ad fraud, it’s interesting to note that Adobe has led the way for some time regarding transparency, having been the first company to offer refunds to clients with signed multisource agreements (MSAs) in the event of fraudulent ad buys. Adobe also led the charge against walled gardens that traditionally don’t offer full site-by-site analysis of ad buys. And because Adobe doesn’t own any media, the company can guarantee a client’s ad buy is always performed in the best interests of the client instead of Adobe.
Given the growing concerns over brand safety and the findings of the Censuswide survey, it’s clear that CMOs want a higher level of security and transparency to protect their brands and provide their clients with the same quality and security they expect from the suppliers and agencies they work with.
Brand safety remains a real concern. What changes in digital strategy is your brand considering in light of these concerns? Please share in the comments below.