The Media Federation of Australia (MFA) has released the 2021 MFA Transparency Framework, outlining a set of best-practice principles of transparency for agencies and advertisers to follow.
First developed by the MFA Board and executive in 2015, the updated Framework reflects progress and changes in the marketplace, and moves to a principles approach to accommodate the dynamic nature of the advertising industry and particularly the digital supply chain.
The aim of the Framework is to set clear expectations for agencies and advertisers in the areas for transparency and accountability and to establish how both parties should operate.It is the cornerstone of the MFA transparency agenda, a long-term program of transparency aids and activities addressing advertiser concerns around media transparency and accountability.
Key initiatives include the world-first Successful Agency Pitching Guide (2021), the updated Australian Digital Advertising Practices (2020, developed in partnership with the AANA and IAB), and the Best Practice Contracting Guide for Advertisers & Agencies (2019).
The principles of transparency for agencies and advertisers to follow, as set out in the MFA Transparency Framework, are:
- Sustainable Contracts
The Framework outlines ways in which advertisers and agencies can adhere to the principles, including disclosure of rebates, commissions and value banks; ethics training every two years for agency personnel; auditing of agencies’ advertising spend deployment; and balanced and fair contracts.
MFA members are required to re-commit to the MFA Transparency Framework as part of the annual membership renewal process.
Sophie Madden, CEO of the MFA, said: “MFA member agencies are particularly proactive in their efforts to increase the integrity of digital marketplaces and implement stricter standards and best-practice advertising as demonstrated by the work they’ve done to date – including the quick introduction of the EU’s General Data Protection Regulation, for example. Nevertheless, transparency is an ongoing issue because of the complexity of the digital marketplace and constant, rapid technological advancements.
“By setting out clear guidelines on how to operate, the MFA Transparency Framework is a valuable tool for both clients and agencies. The MFA will continue to update the MFA Transparency Framework in the future, to ensure it aligns with significant changes in the market.”
The AANA contributed to the content and has endorsed the MFA Transparency Framework.
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