BoSacks Speaks Out: On Understanding Advertising Today
By Bob Sacks
on January 27, 2020
BoSacks Speaks Out: On a day when we read that digital advertising is to surpass print and TV for the first time, it boggles the mind how much known fraud there is in anything digital. Why does the advertising community "trust" what is obviously a global confidence game?
Fake humans, click fraud, fake ad placement, paying for ads never seen, fake web sites that look real but aren't grabbing an obvious overabundance of loot. Not to mention the theft of our very selves. Our whole lives and families' interests bundled for sale not to the highest bidder, but to any bidder.
The online advertising ecosystem is impossible to understand much less control under the current conditions we find ourselves in. Despite what we hear from the lofty P&G, there is no competent leadership anywhere, and I'm compelled to add the Interactive Advertising Bureau (IAB) is nothing but a joke.
Where is the industry leadership? I used to think the US government could be the answer to regulate this problem. Forget that pipe dream. Too many senators have demonstrated clear stupidity about the Internet. It's ridiculous, but the lawmakers who have the power to regulate technology have absolutely no idea how technology works.
Do you remember when Sen. Orrin Hatch asked Mark Zuckerberg how Facebook is able to sustain a business model while running as a free service. I'm sure Zuck stifled an internal chuckle and was barely able to keep a straight face when he responded, "Senator, we run ads." "I see, that's great," Hatch replied. No, there will be no shining knight from the Capitol to save the day.
Part and parcel with the fraud, how is it that we all ignore the privacy rights of hundreds of millions of people? Not their
rights. Facebook's lies, duplicity and personal intrusion by hidden surveillance systems all go unchecked. Do you know that Facebook tracks you through third parties whether or not you are logged into Facebook? As Bob Hoffman pointed out
a few weeks ago "And the pièce de résistance -- Facebook's new data policy asserts that they track you even if you don't have a Facebook account."
This is not a rant about Facebook. They are just a single example of the on-going digital depravity.
It's an old stat, but did you know that for every $3 spent on digital ads, fraud takes $1 (Adage.com, 2015)
Did you know that US brands would lose $6.5 billion to ad fraud in 2017. (Marketing Week, 2017)
Here is a 2018 stat
- How much have you spent on fraudulent ads today? How much have your fellow advertisers? Try $51 million. Research estimated that digital advertisers wasted $51 million on ad fraud every single day
in 2018. That's a massive $19 billion over the year.
There is an abundance of data that shows that magazines are more trusted than any other delivery vehicle. It is rated and respected by readers for top quality and accuracy in reporting.
Yet, in review, print which is trusted by all parties loses market share every year, while obviously fraudulent digital advertising is to surpass print and TV for the first time.
Advertising is the Big Brother we were warned about. Its mission is nothing short of surveillance for a profit. The information on us is stored, sorted and turned against us as an algorithm. And if the algorithm is good, we will march to it.
Now is the time where I should make some sort of demand or plea for us band together and transform the system. Nope, that isn't going to happen. There is too much greed and too much money for this to change any time soon. How does this rectify? Is there hope in this digital morass?
I have hope, but no ideas.
By Bob Sacks|
January 27, 2020