Curated News
By: NewsRamp Editorial Staff
May 01, 2024
The Media Agency Shift: Genius Monkey's Assessment
TLDR
- Transition to fully-managed platforms for ad campaigns gives advertisers a 19% better cost per conversion, providing a competitive edge.
- Advertisers are moving from in-house to fully-managed platforms for ad campaigns, resulting in improved efficiency and cost savings.
- The shift to fully-managed platforms for ad campaigns allows in-house teams to focus on branding and company voice, improving the quality of marketing.
- The pandemic accelerated the transition to in-house ad agencies, leading to downsized teams and a shift towards fully-managed ad platforms.
Impact - Why it Matters
The shift from self-serve to fully-managed platforms has significant implications for both in-house teams and media agencies. It reflects a changing advertising landscape driven by the need for more efficient workflows and expertise. This impacts businesses by influencing their marketing strategies and the tools they use, ultimately shaping their competitiveness in the market.
Summary
The advertising landscape has changed dramatically in the last couple of decades, with many businesses adopting in-house agencies to cut costs and middlemen. However, these internal teams were quickly overburdened by the workload and lacked expertise on certain platforms, leading to a decline in marketing efficiency. As a result, many teams are now transitioning from self-serve to fully-managed platforms, where ad tech companies build and maintain the campaigns for the advertiser, providing expertise and more efficient workflows. This shift has significant implications for the media agency, which needs to adapt and find the best partners to thrive in the evolving landscape.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, The Media Agency Shift: Genius Monkey's Assessment
