Minority of advertisers using media tech effectively

The findings from media consultancy ID Comms’ 2017 Global Media Technology Report, points to marketers’ lack of knowledge meaning they are increasingly reliant on agencies for tech advice.

No marketers claimed to be using media tech ‘very effectively’ and they also acknowledged a lack of understanding of how each technology platform within the stack contributes to the value chain and serves specific business/media goals.

Most advertisers ( 83%) agreed with the statement ‘Advertisers inability to keep up with the rapid evolution of the tech landscape makes them over dependent on solutions provided by their agency’. Even 37% of agency respondents agreed with the statement.

Among agency respondents, 24% said advertisers were using tech ‘effectively’.

Susy Pyzer-Knapp, consultant at ID Comms, said: “What we find with these results is that marketers have a concerning lack of understanding about the precise impact that marketing technology is already having and will continue to have on their wider business.

“Marketers demonstrated anxiety over the rapid pace of change, anxiety about where to seek objective advice and an over-dependence on agency-provided solutions. There has never been a greater need for marketers to get to grips with this area.”

The survey was based on 229 responses from companies with global ad spends of more than $40bn annually.