Later this Fall, you will see changes in online behavioral targeted advertising as the advertising industry experiences double digit growth in online advertising spending.
Online Behavioral Advertising Self-Regulation Now Taking Effect
A program to put into action the Self-Regulatory Principles for Online Behavioral Advertising developed by the Internet Advertising Bureau’s (IAB) members will be up and running this Fall. The IAB is comprised of the nation’s largest media and marketing trade associations that represent some 5,000 companies. Assisting the IAB in both development and implementation has been the Council of Better Business Bureaus (CBBB).
Program details announced on October 4, 2010 includes specific implementation practices in support of the Self-Regulatory Principles for Online Behavioral Advertising that was released by the IAB in July of last year.
The program should give consumers enhanced control over the collection and use of data regarding their web viewing habits for online behavioral advertising purposes by advertising networks.
You can read the IAB’s October 4th press release here.
I’ve previously written several posts on the subject of online behavioral advertising and the industry’s initiative at self-regulation. You can find those posts here:
Do You Know How Americans Feel About Behavioral Targeting
Tracking Regulations to Take Effect Next Year
Online Advertising: New Consumer Alert Icon for Behavioral Advertising
The Advertising Option Icon (shown above) and described in the last post will accompany ads that collect data that is used for behavioral targeting purposes. By clicking on the icon, consumers will see an explanation of why they are seeing that particular ad. They will also be presented with the ability to “opt out” of being tracked by third party advertising networks.
The implementation of this self-regulation structure will be monitored by the Council on Better Business Bureaus (CBBB) and the Direct Marketing Association (DMA). The Better Advertising Project (BAP) is expected to supply its technology to monitor individual company’s compliance with the provisions of the program.
The consumer opt-out mechanism will be available through www.AboutAds.info
You can read or download the Industry’s document here: Self-Regulatory Principles for Behavioral Advertising.
Online Ad Spending Double Digit Growth Forecast for 2010
All of this is taking place as U.S. Online Advertising Revenue is forecast by Magnaglobal to reach 37.3 billion dollars in 2010, up 12.3 percent from 2009. Paid search revenue is expected to reach 13.0 billion dollars in 2010, while the remaining portion of U.S. online advertising is forecast to reach 14.1 billion dollars.
The growth is attributed to a number of factors. They include the ongoing economic recovery as well as the rising number of online businesses and the competitive environment of brands in the market place. This double digit growth in online advertising revenue is expected to continue through 2015.
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