BLOCKBOARD Blog post written by: Roxanne Geyer, SVP Customer Experience
To a standing room only crowd during Advertising Week New York 2023, the message was resounding.
There is a $20 billion waste problem in the programmatic space.
For Matt Wasserlauf, CEO and Co-Founder of BLOCKBOARD, it was the driving reason to found his third company. As a TV sales veteran turned digital video innovator, he saw early signs that there were problems in the space. For example, verification companies… something that simply doesn’t exist in traditional TV.
“In the 20 years since verification companies have come into the business, we have grown to become a $20 billion waste problem,” said Wasserlauf.
“What are they doing?!?” He challenged the audience to push and ask questions of their partners.
Joining Wasserlauf on stage was Bill Duggan, the lead driver of the market-rattling report from the ANA. Duggan highlighted some of the biggest issues from their findings that were main contributors to the waste problem. Among them were:
· Advertisers lacking data access
· SSP optimization
· The knowledge and rampant delivery on MFAs (made for advertising web sites)
Duggan urges everyone to ask questions of their media partners. Programmatic advertising is opaque and complicated, digging in and truly understanding where the money went is key to reducing the waste.
It’s clear that the level of transparency granted to advertisers limits their ability to not only make better decisions on their media investment, but makes it challenging to prove out their investment at all.
“Marketers should be able to see the return of their media dollar investment in a measurable way,” said Mike Scalera, Marketing Director for PIM Brands. “It’s really all about accountability – our jobs are hard enough as marketers. Really seeing performance come through in sales is what needs to happen.”
For Wasserlauf and the mission of BLOCKBOARD – it is all about accountability.
“We believe blockchain can restore trust,” said Wasserlauf. “The transparency and visibility of the permissioned ledger allows ‘light’ to be shown on the work.”
And that’s what all marketers deserve.
Watch the full panel below: