Agencies HAVE Changed
The End of Advertising As We Know ItTraditional advertising players – broadcasters, distributors and advertising agencies – will need innovative new approaches to respond to major industry shifts underway.
There is no question that the future of advertising will look radically different from its past. The push for control of attention, creativity, measurements and inventory will reshape the advertising value chain and shift the balance of power. For both incumbent and new players, it is imperative to plan for multiple consumer futures, craft agile strategies and build new capabilities before advertising as we know it disappears.
“Ad agencies are yesterday,” he said. “But ad agencies that can turn consumers into agents that add value to community and life, that’s what it’s about right now.”
Options For Change
Time is of the essence; a recent study reported that those in the “advertising” profession rank just ahead of Used Car Salespeople in esteem. But neither that nor the changing consumer will end advertising as we know it.
Ramifications For Agency Leaders
- Take the best thinking from tactical firms and best practices from strategic firms.
- Find your own trusted advisors.
- Understand how to manage change.
- Your agency needs to be positioned and branded properly – focus and discipline are key.
- Most of your competitors are operating without any strong positioning other than a hazy label.
- There is little concentrated branding going on among agencies, meaning few agencies have a clearly defined brand.