For CMOs of large companies, brand safety was a major concern this year with demands for increased industry regulation, better measurement and more transparency dominating digital advertising.
According to a study by outstream video company Teads, 2017 saw large brands making drastic changes to their digital marketing strategies, with 44% reviewing their relationships with suppliers and 43% doing the same for agencies.
Teads commissioned the survey of 100 CMOs, all of whom work for companies with an annual turnover of at least £20 million.
Brand safety has rocketed to the top of many CMO’s list of priorities, with 83% saying they have become more concerned about it in the last 12 months. 77% are more worried about fraud then they were last year.
This has lead 95% of those surveyed to overhaul their digital strategy in search of greater transparency from the agencies and suppliers they work with.
“2017 has been a wakeup call for the whole digital advertising industry and it’s encouraging to see senior leaders taking this seriously,” Justin Taylor, UK MD at Teads, said.
“In order to get to the root of these issues we need to rally together as an industry to make sure transparency, brand safety and fraud-free environments are guaranteed at every level.”
93% of those surveyed said that going into 2018, they would be choosing their suppliers and agencies based on their ability to deliver brand safety and transparency. And, they are willing to vote with their feet. 36% claim to have boycotted a channel that cannot give them the guarantees they are looking for.
More CMOs are paying much closer attention to how digital strategy is executed, with 37% saying they are now directly involved. Popular strategies being considered are booking campaigns directly with suppliers (39%) and taking ad-buying inhouse (41%).
“For brands and agencies, this means having transparency and verification on ad buys; if it’s not viewed, the advertiser shouldn’t pay,” said Taylor.
“For consumers this means seeing non-intrusive, quality creative. For publishers, it’s having access to high-yield video inventory and global brand advertisers, with the right tools to prevent fraud.”
Going forward, 43% of CMO’s want direct assurances from publishers that they are controlling risky content, with 46% believing that tighter industry regulation is needed.