“Agencies continually reinvent themselves to serve their clients — they have to quickly adapt to changes in marketing strategy, media, technology, and society. And with the rise of social media and digital proliferation, we are entering an Adaptive Marketing era. In this era, mass media is no longer the foundation of marketing communication, forcing yet another change in the expectations of what marketing agencies can and should deliver. Marketers should assess their partners using the three I’s — ideas, interaction, and intelligence — to select the right partners. Marketers who change their thinking will lay the groundwork for partners that are more agile, can build long-term relationships with active customers and communities, and can use data to drive real-time decisions.”
We proceeded to analyze and discuss. Here’s a breakdown of Episode 26:
- Market dynamics – Why has this occurred?
- Agencies need to focus on core competencies – That’s their brand value.
- How does this impact the client? Is more management required?
- Budding marketing pros – Do you go the big agency route?
- Boutiques – What are the downsides of small firms?
- John C. Havens from Porter Novelli called in and talked about big agencies
- Will big agencies go the way of the newspapers? Is more consolidation coming?