#Inspiredby : The Power Of The Audit; Why Snap Needs The MRC To Live Up To Its Valuation
#Inspiredby : Ad Buyers Push Snapchat to Have Metrics Audited is a great article by Mike Shields at Wall Street Journal exploring the power and influence of the world's largest advertiser Procter & Gamble. P&G's Marc Pritchard called for digital media companies and agencies to clean up the space earlier this year, it gave the industry the wake up call it so desperately needed.
"The days of giving digital a pass are over. It's time to grow up. It's time for action."
How did the big players in the industry respond?It started with Facebook agreeing to an MRC audit, which was a step in the right direction. And shortly after, Google announced that YouTube would follow in the footsteps of the social network. Easier said than done. It's a long road ahead, and more companies need to start coming on board. The MRC has also recently discussed the possibility of an audit with Pinterest and Twitter, as Shields noted:
“There have been early conversations between the MRC and several of the other large digital enterprises, but no commitments have been made or timetables set, despite the significance of these organizations within the digital advertising marketplace,” said George Ivie, chief executive at the MRC.
On the heels of Snap’s IPO, the Association of National Advertisers is already planning to reach out to the company in regards to audits. And rightfully so, because if Snap is going to live up to its goal of a $25 billion potential valuation in its IPO today, it’s going to have to get big bucks from big marketers.And with Marc Pritchard's comments aiming to unite the industry, advertisers are no longer afraid to walk away from sites (or apps) without independent metrics.
