The agency earned a record number of wins for impact with clients Amazon Ads, Microsoft, Stanley Black & Decker, Henry Schein and T. Rowe Price.

For the third consecutive year, Code and Theory led the field with the most wins in the Association of National Advertisers (ANA) annual B2 Awards, winning 16 awards of the 35 total, and notably sweeping the entire "Best Customer Experience" category with Stanley Black & Decker, T. Rowe Price and Henry Schein.

Code and Theory is built for moments when the old playbook stops working. It brings a 50% creatives, 50% engineers model to the enterprise challenges where brand, experience, data and technology collide. In a market defined by sunk martech costs, an onslaught of new AI launches and rising pressure to show results fast, Code and Theory helps B2B leaders move from experimentation to measurable outcomes.

Work recognized includes:

• Amazon Ads: Seller Speedway connected global campaigns, social, and immersive experiences into one B2B ecosystem, boosting Amazon Ads adoption and driving a 41% lift in seller adoption of AI-powered ad tools.

• Henry Schein: A healthcare commerce transformation reduced e-commerce path-to-purchase by 46% and increased revenue per visit by 23%.

• Microsoft: “Yours to Build” translated advanced technology into a developer-first narrative, beating engagement benchmarks by 37%.

• Stanley Black & Decker: An industrial-scale design system unified 30+ brands across 55 markets, driving 39% growth in e-commerce sales.

• T. Rowe Price: An enterprise-wide design system unified 47 fragmented sites across six languages, accelerating growth and improving operational efficiency, delivering $15M in cost avoidance in a single quarter.

See full win list below:

• Gold | Stanley Black & Decker | Corporate/ Brand Website

• Gold | Stanley Black & Decker | Customer Experience

• Gold | T.Rowe Price | Digital Marketing Tools and Programs

• Gold | Microsoft Yours to Build | B2B Marketplace

• Gold | Amazon Ads: Sellers Speedway | Proprietary Company Event

• Gold | Code and Theory/WSJ Experience Gap | Content Marketing

• Silver | Code and Theory | Large Agency of the Year

• Silver | T. Rowe Price | Customer Experience

• Silver | T.Rowe Price | Corporate/ Brand Website

• Silver | Henry Schein | B2B Data Excellence

• Silver | Amazon Ads: Sellers Speedway | Trade Show or Conference

• Silver | Amazon Unboxed 2025 | Proprietary Company Event

• Silver | Microsoft Yours to Build | Lead Gen

• Bronze | Henry Schein | Customer Experience

• Silver | Microsoft Yours to Build | Lead Gen

• Bronze | Microsoft Yours to Build | Product Launch or Relaunch

• Bronze | T.Rowe Price | Industry Sector Spotlight: Banking and Financial Services

• Bronze | Henry Schein | Customer Experience

The ANA is the definitive voice of the marketing industry, with membership representing 20,000 brands with $400 billion in annual marketing investment. It recognized Code and Theory for its ability to turn complexity, across brand, experience, data and technology, into measurable growth for modern B2B organizations.

This series of wins follows Code and Theory’s 20 Agency of the Year honors during the AI era (2024-2026). Most recently, it was a One Show AI Pioneer, Fast Company Most Innovative Company and Ad Age A-List recipient.

This latest recognition builds on a flurry of new-client momentum, including a three-year strategic partnership with Adobe. Code and Theory recently debuted its Creative Intelligence System (CIS) at Adobe Summit, helping marketers learn before they launch by using synthetic personas to pressure-test decisions earlier in the process.

CIS was featured in a keynote earlier in the day with Adobe CMO Rachel Thornton and Code and Theory CEO Michael Treff. It was actively demoed for the hundreds in attendance at the ANA Masters of B2B Marketing conference.

Dagmara Szluce, Executive Vice President of the Association of National Advertisers, says: “This was the most competitive year in the history of ANA B2 Awards. Across the board, it spotlighted the work raising the bar in business marketing, where creativity, effectiveness and innovation have to show up together. Code and Theory’s 2026 B2B Agency of the Year win is a powerful example of that mission in action. Along with A-List clients like Amazon, Microsoft and Stanley Black & Decker, they are shaping the future of B2B marketing.”

Dan Gardner, Co-Founder of Code and Theory, says: “Enterprise marketers are under more pressure to show results than arguably any time in history. Businesses are being rebuilt in real time by new technology and rising expectations and the winners will be the brands that can connect creativity and engineering into one operating system for growth. We’re proud of what we’ve built with our clients, honored by the ANA’s recognition and even more motivated by what comes next.”

About The Code and Theory Network

The Code and Theory Network is the only digital transformation network with a balance of 50% creative and 50% engineers. Our unique makeup makes us the place where CMOs, CTOs and CIOs come together to drive results for their businesses. We partner with our clients to redefine what is possible to create lasting impact and drive long-term growth. Part of Stagwell, Code and Theory offers a global footprint and the capabilities to work across the entirety of the customer-facing journey, and implement the technology that powers it. The network includes the flagship agency Code and Theory as well as Kettle, Instrument, Left Field Labs, Truelogic, Create. Group and Current. Code and Theory clients include Amazon, JPMorganChase, Microsoft, NBC, NFL and Yeti. For more, visit codeandtheory.com

About the Association of National Advertisers

The Association of National Advertisers (ANA) is the definitive voice of the marketing industry. Since 1910, we have set and advanced the agenda for marketing transformation, connecting over 1,600 member companies to an influential global network, insights and resources that drive growth. Our members represent 20,000 brands and $400 billion in annual marketing investment. Through industry-leading research, the CMO Growth Council, and our proprietary Growth Agenda and Practices, the ANA empowers marketers to shape the future of marketing and create lasting impact for their organizations and the industry.