P&G’s Marc Pritchard’s speech at Interactive Advertising Bureau Annual Leadership Meeting 2017 focused on the implementation of industry standards in relationships with agencies and, more interestingly, viewability metrics. AdAge offers a summary of comments made by Pritchard here. Most relevant media has the same coverage as AdAge.
Pritchard’s IAB speech follows the news that Facebook will be audited by Media Rating Council because of their errors in metrics. Facebook had several metrics errors in 2016 and in 2017, hinting that not only agencies have faulty metrics, but also media themselves. Read more on BusinessInsider here. Read more on Facebook here.
Brand Equity point of view
Little can be added to the above discussion on operational implementation of standards, but the motivation behind the initiative is interesting and is best reflected in Pritchard’s statements:
“At the same time we’ve seen an exponential increase in well… crap. Craft or crap. That’s really the big question. And technology enables both.” He continues to say that “we are not growing enough” and “we need better advertising to drive growth”.
Pritchard criticizes not only the standards and metrics used by the industry, but the overall digital marketing culture and its lack of focus on brand values accepted by customers. His initiative to standardize the industry is hopefully only a start of cultural changes in the digital marketing industry. Lack of focus on values products and brands offer to customers, and focus on non-transparent and unstandardized metrics is a culture which Pritchard recognizes as neither good for brands nor – more importantly – consumers.