Self-regulation entails several benefits for policy makers, consumers, marketers, and society as a whole.
- For marketers: It is often estimated that 1/3 to 1/2 of a company’s market capitalisation is represented by its brand reputation, which is why consumer trust in the brand is crucial to corporate success. Advertising self-regulation, through the promotion of responsible advertising, helps build consumer trust in brands, which in turn builds brand loyalty, increases sales, and strengthens market share. Maximised returns on long term investments on advertising benefit not only advertisers but also agencies and media, who will see a higher demand for creative yet responsible advertising.
- For policy makers: Self-regulatory ad standards provide an additional layer of consumer protection that complements the legal framework. National advertising self-regulatory bodies help avoid problems before they happen by providing copy advice. They keep track of key concerns about advertising and take steps to address them when needed.
- For consumers: Self-regulation provides a cheap (typically cost-free), fast and efficient solution to handle consumer complaints.
ICAS is an important business resource that helps us access diverse perspectives from global SRO members. Working together, ICAS associates effectively share insights and promote the principles and benefits of international advertising self-regulation.
Jani YatesAd Standards, Canada
Advertising standards need to take local specificities into account - Not every country is the same. However, thanks to ICAS, markets can share experiences and develop best practices to strengthen their self-regulatory system. ICAS is also ready to provide the advertising industry with global solutions for delivering responsible advertising.