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Ad Agencies Feel Their Work is Unappreciated by the Public, but Remain Positive About Their Businesses

By: Basis Technologies via GlobeNewswire

May 30, 2024 at 10:18 AM EDT

CHICAGO, May 30, 2024 (GLOBE NEWSWIRE) -- Basis Technologies (https://basis.com), a global provider of programmatic advertising and media automation solutions, today announced survey results showing that most advertising agency professionals (88%) do not feel that people appreciate how advertising supports the internet. Despite this sentiment, 76% of respondents are optimistic and confident about the future of their respective agencies. The findings stem from a survey Basis Technologies conducted in April 2024, gathering respondents from more 110 agencies across the U.S. The insights are compiled in Basis’ 2024 Advertising Agency Report, available at: https://basis.com/reports/2024-advertising-agency-report.

Basis Technologies’ findings show that:

71% of agency professionals believe their job is harder today than it was two years ago.
The top three challenges that respondents say their agency is currently facing are: ‘inefficient processes’ (39%), ‘rising costs’ (37%) and ‘shrinking profits’ (32%).
Half (51%) of respondents say their current adtech/martech stack consists of six or more software tools; 17% say they use 10+ tools; 23% say they use three or less.
36% of respondents say their firm has had layoffs in the past 12 months.

Respondents also indicated the importance of AI for their business:

‘AI tools’ (65%), ‘reporting & analytics’ (49%) and ‘third-party cookie replacements’ (33%) are priorities that agency leadership intend to increase their investment in over the next 12 months
77% of respondents believe AI is the trend that will most shape the next decade of digital advertising
35% of agency professionals say their organization uses generative AI tools ‘every day’ or ‘often (3-4 times a week)’ as part of their digital marketing/advertising work. This is up from 2023, when a separate Basis Technologies survey found that just 24% of agency professionals were using generative AI tools every day or often.
78% of respondents feel generative AI will have a ‘mostly positive’ or ‘somewhat positive’ impact on advertising agencies.

Although agency professionals have optimism for their business in 2024 and beyond, they continue to face challenges such as inefficiency and costs. Nevertheless, there is positive sentiment around certain factors such as the prospect of using AI for their work. Basis Technologies’ survey shows the current state and future developments of advertising agencies, which drive digital advertising that is essential for the open Internet.

“Inefficiencies, costs and complexity continue to be prevalent problems that can degrade the health of advertising agencies. Yet, we are seeing resiliency, determination and confidence from respondents as they recognize their important role in powering the Internet,” said Ryan Manchee, SVP of brand marketing, Basis Technologies. “When there is enormous pressure to produce more with less resources, agencies need transformational changes for their business centered on solving operational complexity, siloed systems and manual processes.”

Basis Technologies’ platform is composed of integrated applications that automate manual operations, standardize business processes, and improve marketing and advertising performance. Basis optimizes media team planning, activation and analysis of campaigns, empowering professionals to focus on media strategy and business outcomes. Capabilities include ad buying via programmatic, vendor-direct, search and social.

About Basis Technologies
Basis Technologies is a global provider of programmatic advertising and media automation software and services for enterprises. The Basis platform improves omnichannel marketing performance by unifying programmatic and direct media buying, workflow automation, cross-channel campaign planning, universal reporting and business intelligence. It delivers a comprehensive selection of buying methods across all channels and devices, utilizing all major creative types and formats. Delivered through a world-class media services team or a SaaS model, Basis solves digital media complexity and drives profitability through a single system of record, seamless team collaboration, and actionable data-driven insights. Headquartered in Chicago with offices servicing North America, South America, and Europe, Basis Technologies has received numerous accolades for its commitment to employees and workplace culture. Learn more at https://basis.com.

Contact:
Anthony Loredo
917-573-4157
anthony.loredo@basis.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/22628015-1a0b-4968-be89-18555df2d6f9