Web giants like Facebook, MySpace and AOL have already given advertisers the ability to create and track their own online ads, and experts predict that as display advertising grows, the easier, do-it-yourself method is the way of the future.

Close to $5 billion was spent on display advertising in 2007, according to eMarketer, and display will make up 40 percent of the online market in the near future, according to The Wall Street Journal.

"In order to really move into large masses of advertisers, display advertising has to be easier and simpler. Google did this with search advertising. We think the same thing has to happen with display," Ajay Agarwal, managing director of Bain Capital Ventures, told The Wall Street Journal.

Removing an ad agency from the equation cuts costs by keeping everything in-house, opening new doors to advertisers who couldn't afford display ads in the past. It also allows smaller advertisers the ability to directly market to their customers through social network profiles.

Putting the process into the hands of the advertisers could also be the cure to what some view as a flawed agency system when it comes to developing banner advertisements.

Just this week, Fox Interactive Media announced FIM AdStore, a service that allows local advertisers to create their own display and video ads.