MOUNTAIN VIEW, Calif., Nov. 21, 2024 (GLOBE NEWSWIRE) — Eighty percent of digital ad professionals now utilize AI tools for media buying and campaign management, according to a new report from Frequence, a leader in advertising sales automation and workflow software. Recently acquired by Madhive, the independent ad platform purpose-built for local CTV, Frequence’s 2024 Local Advertising Sellers Index (LASI) also found that, despite the uptake in technology, 65% of digital advertising professionals report facing moderate to extreme pressure to grow digital ad revenue by 20% or more.
The 2024 LASI report surveyed 500 local-market advertising decision-makers in the U.S. during Q3 2024 and follows a similar survey that Frequence fielded last year. Among the findings, the 2024 report found:
- High Omnichannel Demands: Seventy-one percent of respondents reported that their clients value omnichannel campaigns, an increase from 69% in 2023. Media professionals are tasked with balancing the demands of complex, multi-channel campaigns, often stretching the available tools and resources.
- Stable Budgets Amid Performance Pressures: Sixty-nine percent of respondents reported stable or increasing budgets. However, internal and external pressure to deliver high-performance outcomes remains high, with 83% of respondents indicating moderate to extreme internal pressure to grow revenue.
- Expectations for Growth: Sixty-five percent of respondents report facing moderate to extreme pressure to grow digital ad revenue by 20% or more. This is a slight increase from last year, reflecting the growing expectations placed on ad professionals as companies look to capitalize on the expanding digital advertising market.
“Advertisers demand performance across channels, which means that sellers need robust automation and advanced tools more than ever before,” said Jim Wilson, President of Madhive. “This year’s findings underscore the ongoing pressure on media professionals to optimize campaigns with limited resources and emphasize the importance of technological advancements in sustaining growth.”
Other notable insights from the 2024 LASI report include the continued need for training in AI tools, particularly as advertising shifts toward digital video and CTV. Over 60% of respondents expressed a need for additional metrics and advanced tracking tools to optimize digital video and CTV campaign performance, reflecting the rapid expansion of these advertising channels.
In addition to AI and omnichannel complexities, the report emphasizes a growing skills gap as digital ad professionals strive to keep pace with rapid technological changes. 73% of respondents indicated they feel they’re not fully keeping up with industry advancements, particularly in digital video and CTV advertising. Integrating advanced tracking and analytics into campaigns remains a top priority, especially as advertisers demand precise measurement and performance metrics across all channels.
“Frequence’s LASI findings highlight the urgent need for investment in both technology and training as the industry faces mounting performance expectations,” Wilson said. “By equipping professionals with the right tools and knowledge, we can not only improve operational efficiency but also unlock new growth opportunities in local advertising markets.”
About Frequence
Frequence, a Madhive company, is the leading provider of software for media companies to automate and grow their local advertising sales. Acquired by Madhive to enhance their digital advertising hub, Frequence brings a full-stack workflow and campaign management software that provides the necessary tools to launch, manage, and optimize multichannel campaigns. From sales intelligence to measurement and analytic tools — all integrated within a platform that creates personalized, multichannel media proposals with campaign insights — Frequence users have a complete end-to-end solution.
In an industry overwhelmed by point solutions, especially among media companies and buyers, Frequence has developed the first, comprehensive platform that empowers users with state-of-the-art technology while optimizing person-to-person relationships. Leveraging an advanced framework and AI, Frequence makes selling local advertising scalable and profitable.
About Madhive
Madhive is the leading independent and fully customizable ad platform built to help local media professionals reach their audiences by enabling more efficient and impactful CTV buys. As the trusted partner serving Fox, Scripps, Premion, and TV’s largest broadcasters, Madhive empowers sales teams to extend their reach into streaming and connects local advertisers with the communities they serve. Madhive’s platform provides the unique ability to reach local audiences at national scale, with premium supply partnerships and end-to-end tools for planning, targeting, and measuring full-funnel campaign outcomes. Together with Frequence, Madhive is furthering its mission to deliver innovative solutions that maximize reach and ROI for advertisers of all sizes. Powering campaigns for over 30,000 small and medium businesses per day, Madhive is driving the evolution of local media. To learn more, visit Madhive.com.
Media Contact:
Hugh S. Moore
Broadsheet Communications for Frequence
hugh@broadsheetcomms.com