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Online advertising agencies to get accreditation
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IAMAI (Internet and Mobile association of India) like its offline counter part has introduced a credit policy and accreditation process for all agencies dealing with online advertisements. This is an initiative to regulate the payment and credit facilities given by publishers to advertising agencies in the online medium.
According to an official announcement the policy consists of three aspects:
a) A common credit policy for all accredited agencies
b) An accreditation process
c) A process of recovery of over due payments from agencies
The policy has already garnered the support of leading online publishers in India including Rediff.com, Yahoo! India, Indiatimes.com and Sify.com.
What this means is that agencies will need to meet a certain requirement to be IAMAI accredited agencies and such agencies would have to follow a credit period norm incase of payment to web publishers.
Under the Policy, a 60 day credit would be extended by affiliated publishers to all accredited agencies with a 30 day window for negotiation, reconciliation and settlement. The process of accreditation has been deliberately kept simple and gratis to encourage agencies to be a part of this process.
I feel this would actually make it difficult for new agencies to get into the online advertising business especially when in comes to online media buying. Because if IAMAI accreditation becomes the norm and is accepted and enforced by most large publishers then the online advertising pie would get limite dto those who manage to get the accreditation! And a new agency according to me will find it difficult to get one easily.
source - Indiantelevision
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