41% Of Advertisers Admit To Ineffective Use Of Media Technology
According to a report released by ID Comms, majority of advertisers lack confidence in their utilization of media technology in serving a specific business goal and in contributing to the value chain. 41% admit that they are currently still “ineffectively” or “completely ineffectively” using media technology.
Another 15% of the advertisers who participated in the study agree that they are using media technology, a power tool in most digital media buying, “effectively” while none claimed to be wholly competent in their ability to use it “very effectively”.
When it comes to how much they know about each technology platform and in what way they can use it more effectively, 8% of advertisers had a “good understanding” while a majority 67% claimed “some understanding”; 22% had “little understanding” and 3% had “no understanding” at all. None of the advertiser participants claimed to have a “full understanding”.
Agency participants, meanwhile, felt that 24% of advertisers were using media technology “effectively”. However, in the ID Comms 2017 Global Media Technology Report, it was found that media agencies were the ones who benefited from advertisers’ overall lack of knowledge of the tech landscape.
In another question posed in the study, 83% of advertisers and 37% of agency participants either “agreed” or “strongly 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”.
It was also found that due to their lack of knowledge on and insufficient confidence in using media technology effectively, advertisers are now relying heavily on tech specialists to guide them on the ideal technology to use for their business and how best to use it. 30% of advertisers and 28% agencies agreed that specialist tech consultants are most trusted when it comes to providing advice on tech solutions. 23% of advertisers also noted that media agencies are their go-to consultants for media solutions while 19% of agency participants listed management consultants as their trusted advisors.