The 21st century brought us marketing technology. And with technology came the promise of science and an enormous appetite for data, measurement, and mathematics. Unfortunately, ad technology is corrupt and deficient. Consumers believe the adtech industry is dangerous, untrustworthy, and incompetent. They are right .
Digital ad spending in the industry will reach $15.84 billion in 2022. Although growth in digital budgets is slowing, we estimate the category will see nearly $20 billion in spending in 2024. For every $1 million invested in online banner ads, just 0.1%, or $1,000, derives value for brands, resulting in $999,000 wasted by brands. So why is pharma wasting so much money?
Short on Time?
- Adalytics reported that for nine months, billions of ad auctions for space on Gannett’s USA Today website resulted in brands unknowingly getting stuck with their ads running on other Gannett sites — often remote community sites.
- Ads from who-knows-how-many companies ran in the wrong places for nine months.
- Not a single brand noticed this, and not a single media buyer noticed the fraud.
- Online ad fraud is costing pharma millions