LONDON: CMOs are increasingly turning to technology, not their agencies, in order to ensure success in digital advertising and achieve greater transparency in media buying, a new industry survey has revealed.
No less than 43% of advertisers plan to bring more responsibility for digital planning in-house within the next 12 months as only a quarter (27%) believe retaining the most talented media agency contributes to the success of their digital ad campaigns.
Furthermore, almost half (46%) of advertisers believe in-house technical knowledge is the most important factor for digital campaign success – and this rises to 56% of advertisers with budgets of more than £40m.
These are the key findings from a global survey of over 795 industry practitioners, including senior advertisers and agency workers, conducted by InSites Consulting on behalf of AudienceScience, the advertising technology and services company.
Insights from the study form part of the second annual International Media Image Survey (I-MIS), which is run in partnership with the International Advertising Association, Warc and M&M Global.
A perception that transparency in media trading has stayed the same or got worse is shared by more than two-thirds (69%) of advertisers and 43% of them believe there are still too many vendors and middlemen trading digital advertising space.
"Our research shows that although the way advertisers buy media is changing, opacity and complexity of media trading remain a major problem for the industry," said Mark Connolly, chief revenue officer and vp International at AudienceScience.
"Advertisers are starting to respond to this lack of transparency by taking ownership of their digital advertising away from media agencies and by adopting enterprise technology that ensures transparency and control in-house," he warned.
Specifically, 60% of brand advertisers believe improvements to the targeting of paid digital media is where the application of audience data has the greatest potential for making a positive marketing impact, the survey found.
And more than three-quarters (76%) of brand advertisers intend to plan and buy media across digital screens to target multiple device-using consumers more effectively.
Data sourced from AudienceScience; additional content by Warc staff