ADVERTISER CAMPAIGN MANAGEMENT
Sila | February 24, 2022
Sila Inc., a fintech software platform that provides payment infrastructure as a service, today announced that it partnered with dash.fi, a vertical fintech company serving the multi-million digital advertising industry, to create the first charge card purpose-built for advertisers. Close to $500 billion dollars are currently spent on digital ads globally every year. That number grew by 30% in 2020 and 25% in 2021. In partnering with Sila’s payment technology, dash.fi has designed its next-day-settle charge card to meet the specific operational and liquidity needs of e-commerce merchants that spend millions on marketing.
Traditional banks and credit card providers can’t meet the needs of eCommerce brands because their legacy credit card products don’t provide flexibility in underwriting, spending limits, or the transparency that growing eCommerce brands require to successfully scale their businesses. dash.fi’s 10x revenue growth in 2021 is evidence that this underserved segment of the credit card market is a massive market opportunity waiting to be captured.
dash.fi and Sila have partnered to solve complex payment-related problems for advertisers with a charge card that addresses:
Seasonal fluctuations in ad spend experienced by eCommerce brands
Daily surge spending that takes place during peak spend days like Presidents Day, Black Friday or Prime Day
The global, multi-platform nature of the digital advertising market that puts tremendous pressure on existing payment solutions
“It’s almost as if successful advertisers whose campaigns take off and deliver are being punished and crippled by credit card rules that were written by an industry decades ago,” said Zach Johnson, Founder and CEO, dash.fi. “The legacy card providers and other financial institutions simply don’t understand the everyday needs of eCommerce brands as they work to grow their businesses. The dash.fi card meets the critical needs of advertisers and makes sure they have everything they need to maximize growth in a highly competitive market. We look forward to working with Sila to continue to innovate for our customers.”
Sila’s payment infrastructure as a service allows dash.fi to access bank accounts securely and in compliance with applicable regulatory regulation. Sila’s KYC and KYB services reduce the risk of fraud and provide critical data points that allow dash.fi to provide better services to its commercial clients. The ability to use Sila’s technology to offer numerous virtual cards is a significant competitive advantage for dash.fi’s when talking to its customers.
“The new financial world that we at Sila are envisioning is all about replacing generic one-size-fits-all solutions with tailored services that make all the difference for a specific audience,” said Shamir Karkal, CEO and co-founder of Sila Inc. “dash.fi is a shining example of what is possible and we are proud to be their technology partner.”
Sila is a fintech software platform that provides payment infrastructure as a service, a business-critical element for all companies that need to integrate with the US banking system and blockchain quickly, securely, and in compliance with applicable US regulation. Sila offers Banking, Digital Wallet & ACH Payments APIs for Software Teams. The firm was recognized as a ‘2021 best place to work in financial technology’. Sila is headquartered in Portland, Oregon.
dash.fi is the world’s first charge card built exclusively for advertisers to help them scale ad spend and maximize growth of their businesses. The dash.fi card is purpose-built with personalized statement cycles, smart card authorizations, and bespoke underwriting to streamline and stabilize digital ad payments for scaling global brands.
National Advertising Division | December 23, 2021
The National Advertising Division (NAD) of BBB National Programs has referred advertising claims made by PLx Pharma, Inc. to the Federal Trade Commission (FTC) for review and possible enforcement action after the company declined to accept NAD's recommendations to modify certain claims for its Vazalore immediate-release aspirin product.
In Case #6912, NAD recommended, among other things, that PLx Pharma:
Modify the claim "Vazalore has up to 5X greater absorption than enteric coated aspirin" to avoid conveying the message that the claimed difference in absorption related to superior clinical efficacy and disclose that the reported results were limited to diabetic, obese subjects.
Discontinue the claim "The Miracles of Aspirin Fully Realized."
Discontinue the claim "Better gastrointestinal safety" (or modify it to convey the limited message that Vazalore causes fewer erosions and ulcers in the first week of treatment than traditional immediate release aspirin).
In PLx Pharma's advertiser's statement it agreed to comply with NAD's recommendations and incorporate them in updates to its company website and development of Vazalore's marketing campaign.
Thereafter, the challenger, Bayer Healthcare LLC, asked NAD to open a compliance inquiry based on concerns about advertising on PLx Pharma's website directed to healthcare professionals (HCP) and a television commercial. In a compliance matter, NAD must determine whether the advertiser has made a bona fide, good-faith effort to comply with NAD's recommendations.
Although NAD determined that some new advertising claims were not appropriate for review in a compliance matter because they were not previously reviewed by NAD or were monadic performance claims, a few others were substantially similar to claims challenged in the underlying proceeding. Therefore, NAD considered whether these new claims fully comply with NAD's recommendations.
Regarding PLx Pharma's television commercial, NAD determined that, in context, the claim "Aspirin Made Amazing" was substantially similar to the claim NAD recommended be discontinued in the underlying challenge, "The Miracles of Aspirin Fully Realized." NAD noted that both phrases reasonably convey the unsupported message that Vazalore provides superior cardiovascular benefits or gastrointestinal safety. Therefore, NAD recommended that Vazalore modify its commercial to avoid conveying this message.
Consistent with the underlying decision, NAD noted that nothing precludes PLx Pharma from:
Making a properly limited claim based on the clinical study results that the Vazalore 325 mg aspirin causes fewer erosions and ulcers in the first week of treatment than traditional immediate release aspirin or from touting that it provides a new delivery system; or
Using the "Aspirin Made Amazing" tagline to highlight truthful attributes that make Vazalore different from other products provided, however, the context does not overstate its performance benefits.
Advertising Directed to Healthcare Professionals
NAD noted that it appreciates PLx Pharma's efforts to create a gated site for HCPs separate from its consumer-facing website.
In the underlying decision, NAD recommended that the advertiser modify the claim "Vazalore has up to 5x greater absorption than enteric coated aspirin" to avoid conveying the message that the claimed difference in absorption related to superior clinical efficacy and disclose that the reported results were from a limited study population, diabetic, obese subjects. In the compliance inquiry, NAD considered whether the advertiser's disclosure of the limitations of its clinical study, as referenced on its HCP-facing website, namely the title of the study, its characteristics including the study's population, and finally the results, complied with this recommendation. NAD determined that it did not and, therefore, recommended that the disclosure concerning the 5x absorption claim clearly and conspicuously reference the limited population of the clinical study.
Further, NAD determined that claims on PLx Pharma's "Features and Benefits" page convey a comparative safety message as to competing traditional release aspirin. Consequently, NAD recommended that the advertiser modify this advertising to make clear the limitations of its study (i.e., that Vazalore causes fewer erosions and ulcers in the first week of treatment than traditional immediate release aspirin).
While the advertiser made modifications following the original challenge, they have declined to make additional modifications as NAD requested. As a result, NAD is referring this matter to the appropriate government agencies for review and possible law enforcement action.
All BBB National Programs case decision summaries can be found in the case decision library. For the full text of NAD, NARB, and CARU decisions, subscribe to the online archive.
About BBB National Programs:
BBB National Programs is where businesses turn to enhance consumer trust and consumers are heard. The non-profit organization creates a fairer playing field for businesses and a better experience for consumers through the development and delivery of effective third-party accountability and dispute resolution programs. Embracing its role as an independent organization since the restructuring of the Council of Better Business Bureaus in June 2019, BBB National Programs today oversees more than a dozen leading national industry self-regulation programs, and continues to evolve its work and grow its impact by providing business guidance and fostering best practices in arenas such as advertising, child-directed marketing, and privacy. To learn more, visit bbbprograms.org.
About the National Advertising Division:
The National Advertising Division (NAD) of BBB National Programs provides independent self-regulation and dispute resolution services, guiding the truthfulness of advertising across the U.S. NAD reviews national advertising in all media and its decisions set consistent standards for advertising truth and accuracy, delivering meaningful protection to consumers and leveling the playing field for business.
MEASURED | October 13, 2021
As advertising platforms grapple with the measurement fallout of increasing restrictions on data and tracking, Measured has launched the industry’s first end-to-end incrementality measurement and reporting solution for Facebook in a post-iOS 14.5 world.
Facebook recently indicated that the platform’s measurement and reporting systems are suffering accuracy issues related to updates in recent versions of Apple’s iOS. Facebook believes that “real world conversions, like sales and app installs, are higher than what is being reported for many advertisers.”
Experiments from Measured provide DTC brands like Birdies, Fabletics, Lulus, and Stance with reliable ongoing insights into Facebook incrementality at channel, campaign and ad set levels. By measuring the true incremental contribution of Facebook media, anchored on source-of-truth transaction data provided by the brand, marketers can make informed decisions about budget allocation - even amid rising concerns about the reliability of platform self-reporting.
“Privacy-driven changes across the industry are causing widespread reporting headaches for platforms and forcing brands to adapt how they track and measure, We built Measured in anticipation of this moment. We continuously refine our experiment designs and adapt to inevitable changes by platforms to ensure brands can always trust insights they get from us.”
said Madan Bharadwaj, CTO and cofounder of Measured.
Apple’s tracking policies pressured Facebook to make multi-faceted changes to attribution capabilities it offers advertisers, including a significant scale-back in conversion lift-testing and the elimination of 28-day click-through and view-through attribution windows. The decrease in trackable data has caused a notable drop in attribution reporting from the platform and the shorter look-back periods make it exponentially more difficult to run statistically significant split-audience test and control experiments.
In the wake of these iOS-related implications, Measured developed a new suite of experiment designs and actionable reporting tools that identify the causality between Facebook investments and actual business transactions reported by the brand, empowering marketers to make confident decisions about advertising on the platform.
Audience split experiments – Measured’s proprietary methodology utilizes the Facebook audience split API to divide target audiences into test and control cohorts and apply systematic lift studies to get program-level and granular ad set-level incrementality measurements.
Geo-matched market experiments – Using advanced matched-market data science, Measured identifies statistically significant sibling markets (geos), at the state, DMA or zip code level, that are similar but cheaper to test in than larger markets. Because geo experiments are based on source-of-truth transaction data from the business (e.g. ecommerce platform) and run completely independent of platform reporting, geo-testing is the only system of measurement that isn’t affected by platform and policy changes.
Scale testing experiments – To test for scale, Measured splits target audiences into three cohorts – test, control, and scale. The ad sets used for the test group are cloned and served to the scale group, but at 2x-3x-4x the spend, to measure the point of audience saturation.
“Although Hammitt only started with Measured less than a year ago, their scientific method is just what is needed to scale profitably - in spite of privacy changes, which I support,” said Tony Drockton, Founder of Hammitt, an emerging leader in the luxury handbag market. “Great brands will prosper in these times with a clear vision, great partners like Measured, and by approaching digital media as a permission-based win-win between their customers and the brands they love.”
Measured helps DTC brands grow by revealing media’s incremental contribution to business outcomes and providing source-of-truth reporting for media investment decisions. The Measured Intelligence Suite is intuitive, enterprise-grade software that delivers automated incrementality experiments for every marketing channel. Measured experiments are powered by a marketing data warehouse that was built for analytics, providing a secure place to ingest, harmonize, and utilize marketing data from across the business.