As brands have embraced digital marketing initiatives during the COVID-19 pandemic, transparency has been essential for digital marketers in the industry. The implementation of digital communications forced technology companies in order to be upfront about the digital marketing solutions their partners make use of. Thus, there shouldn’t be any distrust or – alternatively – uncertainty in the resources which are shared with marketers to develop, analyse and execute marketing plans.
Digital marketing is growing increasingly more profitable by the day as businesses are needing to adapt in the time of the coronavirus as well as the economic uncertainty which it brings. With this being said, transparency between marketers as well as consumers has become essential. Here’s why.
Building trust with your consumers is responsible for playing a key role in terms of sustaining a successful business. In order to create this trust, digital marketers should present themselves as credible, transparent as well as authentic.
Transparency Has Become A Fundamental Focus In The Digitally Connected Era
From political debates, as well as the divide over fake news, to influencer marketing and the promotion of products online – as more individuals are given more outlets in order to share whatever they want with their audience, more queries are correctly raised as to the honesty as well as trustworthiness of any claims or endorsements which are made through such process.
Given this, it’s not a surprise that research shows that consumers are becoming increasingly wary of online claims. In addition, there’s a rising demand for transparency in digital advertising. Underlining this, our recently surveyed 1 000 consumers to get some insights into their beliefs, expectations as well as desires on the role of transparency in business today.
Why The Need For Transparency?
Across the last ten years or so, digital marketers have allowed agencies to operate alone when purchasing ad space. This grants agencies – as well as ad tech providers – a lot of freedom.
At the moment, we live in a world which is dominated by Google, Facebook as well as programmatic advertising exchanges that anonymise the advertising-selling process. This is in plain contrast to the pre-digital era that was intensely personal. In essence, a large number of brands were used to pouring money into a black box that are marked digital advertising.
During this same time, programmatic ads – in addition to online bidding -boomed. Ad buying transitioned from human-based deal-making to complex, automated decision-making. What Mark Prichard and P&G assisted with drawing attention to was the occasionally murky underlying costs of agency support as well as marked-up media inventory.
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