In a closed-door meeting at a Manhattan mansion, executives outlined changes to controversial software that was implicated in two crashes.Aerospace & Defenseread more
Current and former Tesla employees working in the company's open-air "tent" factory say they felt pressure to take shortcuts to hit aggressive Model 3 production goals,...Technologyread more
Investors will watch for the release of the Reserve Bank of Australia's meeting minutes, for clues on the next monetary policy move by the central bank after it cut its cash...Asia Marketsread more
President Donald Trump and the RNC are picking up key supporters in the business community who did not back him as a candidate in 2016.2020 Electionsread more
Amazon workers in Minnesota and Germany are striking as Prime Day kicks off, in a stand against working conditions and wage practices. The action in Minnesota represents the...Retailread more
Treasury Secretary Steven Mnuchin is raising red flags ahead of Facebook's proposed cryptocurrency launch.Marketsread more
Epstein is accused of sexually exploiting dozens of underage girls from 2002 through 2005 at his New York and Florida residences. He is a former friend of Presidents Donald...Politicsread more
When you think of Prime Day, you might be thinking about deals on Instant Pots and Amazon Echo devices — not half-off dresses and designer heels. But the market for apparel...Retailread more
David Marcus, the head of Facebook's digital currency project, said the company expects Libra will drive more advertising revenue for the company.Technologyread more
Some White House officials expect the Cabinet secretary, who has known the president for years, to depart as soon as this summer.Politicsread more
"The important thing is that you shouldn't try to hit homeruns this week, because you're much more likely to end up striking out," Jim Cramer says.Mad Money with Jim Cramerread more
A new study shows a popular automated method to buy online advertising has big problems: Advertisers don't know what they're buying and have no clear way to measure if they're getting their money's worth.
Several organizations that represent advertisers -- the Association of National Advertisers (ANA), the Association of Canadian Advertisers (ACA), Ebiquity and AD/FIN -- completed a study called "Programmatic: Seeing Through the Financial Fog" to further look into the technology-based ad buying process. It analyzed more than 16 billion programmatic transactions.
Programmatic advertising lets brands buy ads using data targeting and technology. Though most programmatic ad buying is for online ads, some services also let advertisers buy TV commercials. Companies like Google run programmatic ad exchanges, which allow advertisers to bid on ad placements on sites and platforms. Other services like Facebook Audience Network use a company's internal data — in this case Facebook profiles and activity — to target users across the entire internet and show them ads.
The programmatic study concluded that cross-industry standards were missing to show companies how much ads are costing them and how effective they are. It also found evidence of undisclosed deals between marketers and agencies. In addition, a lot of advertisers didn't really understand how programmatic advertising works.
"Programmatic media buying is becoming the most dominant approach because it offers targeting precision, scalability, cost efficiency, real-time optimization, and unprecedented leverage of big data for advertisers," ANA CEO Bob Liodice said in a statement. "However, programmatic buying remains complex and often non-transparent. Our study revealed that this lack of transparency makes it difficult for advertisers to manage, measure, and audit programmatic media investments with the same rigor as traditional media investments."
The report comes at a time when brands are asking digital platforms to provide more information on their ads. Google was involved in an ad scandal in March when some of its ads were shown running next to jihadist and neo-Nazi content on YouTube and other websites whose advertising was placed by its programmatic ad technology.
There are also questions over the accuracy of internally reported metrics. Facebook admitted it overstated the amount of time users viewed video on its platform in September 2016, as well as a few more measurement errors in the following months. On Tuesday, the company said a "bug" caused some clicks on its video carousels to count as ad click links.
The report authors said if current methods prevail, brands will have a hard time managing programmatic advertising compared to traditional ad buying methods. They included an list of recommendations, including a call for more "transparency" in the process, and for companies to "trust but verify" their ad purchases. They also called for more disclosure about conflicts of interest for all parties.