Targeted digital advertising is not only vital to the European economy but has a larger social and cultural value that is often overlooked and not accounted for in conventional statistics, says IAB Europe’s Daniel Knapp.
What has targeted advertising ever done for us?
In a new paper, Knapp, the organisation’s chief economist, warns against a blanket ban on targeted advertising, as suggested by the European Data Protection Supervisor earlier this year, and highlights its role in three areas:
- enabling the proliferation of small- and medium-sized businesses, including sectors which have special cultural value and wider positive effects on regional social structures;
- as an instrument in helping Europe find its place in a new digital world, spurred by large industrial policies and European Champions;
- supporting a strong, pluralistic and independent media ecosystem.
Point to ponder
Knapp notes that Italy is particular in its reliance on SMEs that have strong roots in their local communities while also exporting abroad. As these small producers are cast on the digital stage, targeted advertising does more than just support business growth: by enabling these companies to compete for customers online, it helps preserve the uniqueness of local clusters of SMEs, the culturally significant goods they produce and the social structures that have grown around them.
Key quote
“We need a constructive debate on how the benefits of targeted advertising that uses data can be best combined with social values and cultural norms that allow Europe to foster long term prosperity” – Daniel Knapp, chief economist, IAB Europe.
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Guest Author: IAB Europe
This article first appeared in www.warc.com
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