Today is an exciting day for us here at tribeOS.
My team and I have spent that last few months quietly working on something that we feel is an important step in the fight against ad fraud, and today we are ready to share it with the world.
In November we partnered with independent research firm Fuse Insights to conduct a survey measuring the level of awareness digital marketers have about ad fraud.
Our suspicion was that despite the fact that ad fraud is the second most profitable kind of organized crime and costs advertisers a whopping $51 Million every day, most marketing folks don’t know what it is. Largely because it remains an invisible crime for almost every advertiser.
Unfortunately, we were right.
We found that at least 33% of experienced marketers have never heard of ad fraud. Experienced meaning, people who have been working in marketing for 10+ years.
Perhaps even more troubling is the fact that of 77% of who reported that they are familiar with ad fraud, only 15% of those were able to give an accurate description of what ad fraud is and how it works.
Only 11% of all marketers surveyed really knows what ad fraud is and are able to describe ad fraud in terms the industry would recognize.
So not only is there a huge gap in general awareness about ad fraud within the marketing community, but folks who say they know what ad fraud is don’t actually understand how it works.
In fact, 4 out of 5 people see ad fraud as a consumer facing problem not a digital marketing problem. When asked to describe ad fraud in their own words, the majority of marketers surveyed described ad fraud in terms of advertisers attempting to defraud consumers, pretending to be well known brands, and sell fake or scam products online.
Ad fraud is the biggest problem we face as marketers, and yet the overwhelming majority of marketers don’t know what it is.
It’s worth repeating: Ad fraud crime is the second largest organized crime in the world. Digital ad fraud is so bad that the biggest brand advertisers are cutting their ad spend by hundreds of millions a year and actually improving their brand exposure because they’re no longer throwing their money away to bots.
We, as digital advertisers, need to take the first step to protect ourselves because let’s face it, no one else will.
That means education. We need to learn about ad fraud, we need to understand the nefarious schemes scammers use to steal our ad spend.
So please, I urge you to take a moment and read our latest research study Ad Fraud Awareness: How Much do Digital Marketers Really Know About Ad Fraud?
I think you’ll find the data revealing, perhaps even shocking, and I hope the research helps you.
And don’t forget, we are a movement and we are growing.