The advertising industry is about 150 years old (154 to be exact) and over those years many different models have arisen with the purpose of enabling a better product and service experience leading to greater success and market differentiation.
It costs far more to win a new client than it does to keep an existing one. Agencies tend to think that as long as Client Service has a good relationship with the client and the advertising is delivering against the specified objectives and KPIs, then everything's good, right?
In the advertising space, we tend to think of ourselves as service providers vs product-based companies. But the reality is that every deliverable and even every methodology we apply to create a deliverable can be thought of as a product.
Agencies are expected to be the hotbed of brilliant ideas and constant innovation, but when resources are strained, time is short and there's an ever-increasing amount of client deliverables to get out the door it's easy to let the focus on brilliance and innovation slip. Keep the light shining by incorporating an ideation deliverable into the culture of the agency.
If you've worked at an agency that experienced rapid growth, you know how taxing it can be on every part of the shop. It's a great problem to have, but one that requires foresight and planning to avoid the common pitfalls that can make growth more painful than pleasant. In this post, we'll examine some key areas that experience stress during rapid growth and share some ideas on what to do to...
Agencies today face continual pressure to reduce their prices even as their costs of doing business continue to rise due to real estate, talent and technology. And the threat is real - clients are insourcing ever greater percentages of their advertising based on the perception that it's cheaper to execute in-house. As a result, agencies have to turn over every rock in search of ways to lower...
When you're looking to add a capability or competency to an agency, there are generally three options on the table:
Twenty years ago, summertime was a slow time for agencies. Clients were on vacation, the hot days made everyone a bit lethargic and there was always time to catch the ice cream truck outside. Today, that seasonality seems to have almost entirely disappeared.
Every agency strives to act like and be considered a partner for their clients - not a vendor. The difference being that vendors just sell you something. They're not concerned about your business, they're not invested in your success and they're not interested in building a relationship with you unless by that you mean keeping your credit card on file so they can auto-charge your next order.
The movie "NEXT" is about a magician who can see 2 minutes into the future. That doesn't sound like a lot of time, but it turns out it's enough to create a two hour movie script around.
What if you could see into the future? What if your software was able to generate the information you need to predict the near future? Or better yet - what if it did that for you using predictive analytics?