As featured in Digiday, read the full article here.
Nick Waters spoke to Digiday on the transformation that advertising agencies are undergoing in response to changing demands from advertisers.
Advertising agencies are currently in the midst of a substantial transformation driven by advertisers’ shifting expectations. This shift isn’t just a matter of preference; it’s a necessity for agencies to survive and thrive. Advertisers are no longer content with merely discussing change; they are actively pushing for it. This has led to major brands consolidating their creative, media, and data duties into larger advertising agencies’ groups and re-evaluating payment terms.
One notable change is the trend of in-housing, which was once viewed as a battleground between advertisers and agencies but is now seen as an opportunity for closer collaboration. This approach allows advertisers to exert more control over their marketing efforts and align them with their specific needs.
However, the transformation agencies are undergoing must also make economic sense for them. Agencies have become leaner, more specialized, and faster in response to demands, but it’s crucial for chief marketing officers (CMOs) to assess whether these changes align with their needs and briefs.
“Quite a number of agencies fall down by telling clients ‘We’d like you to tell us how you want an agency to organize’ when really the client wants to know how the agency has an understanding of what their needs are based on the brief. That’s been clear from the big pitches we’ve been involved in over the summer.”Nick Waters, CEO, Ebiquity
Ebiquity Media Management specialist have recently published a report on “Reimagining Agency Selection”. If you’re ready to rethink your approach to agency selection, this paper will serve as your roadmap.
Feel free to get in touch with the Ebiquity team to further discuss these important updates and take proactive steps to reduce wasteful practices. Reach out now.