Faced with clients moving key services in-house, or working directly with media and marketing technology platforms, what can agencies do to remain relevant and deliver value?
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Partnerships, People & Proprietary Technology: The 3P’s of the Future Brand Building Value Chain
1. The 3P’s of the Future Branding Building Value Chain
Pipa Unsworth @peepa @verveiq
2.
3. Faced with clients moving key services in-house, or
working directly with media and marketing
technology platforms,what can agencies do to
remain relevant and deliver value?
4.
5. SOMEONE CHANGED THE RULES
“The rules have been modified so much that we are
actually playing a different game now. The very nature
of the customer,the market and therefore of the
organisation has transformed while a lot of companies
are still playing by the old rules.”
Peter Hinssen @Nexxworks
Source: http://nexxworks.com/blog/what-happens-when-the-rules-of-the-market-change
7. THE MOVE INHOUSE
Source: https://hbr.org/2015/07/6-reasons-marketing-is-moving-in-house
#1 Agencies aren’t keeping pace
#2 Agencies are stuck on advertising
#3 Continuity has become more important than campaigns
#4 Companies no longer want to outsource customer relationships
#5 Companies want to own the data
#6 Agency talent is moving in-house (or joining startups)
8. NEW TECHNOLOGY IS ALLOWING
BRANDS TO BYPASS AGENCIES
Source: http://www.adweek.com/news/technology/new-technology-allows-brands-bypass-agencies-158182
“If it’s programmatic
inventory, it’s really easy
to do. You can train your
receptionist to do it.”
Adtech company CEO
“Programmatic buying is
ridiculously complex. We
will beat you every time at
the auction.”
Agency media executive
V.S.
9. MORE COMPETITION FROM MEDIA FIRMS
“Media companies are increasing revenues by building creative studios that
allow them to give away creativity to brands so that they will spend more money
on a media buy with them. “
Source: http://digiday.com/agencies/6-trends-will-shape-future-agencies
10.
11. “AGENCIES ARE COCKROACHES,
NOT DINOSAURS.”
Source: http://adage.com/article/agencies/future-ad-agencies-uber-model/299816/
Brian Wieser, Senior Analyst, Pivotal
15. The 3P’s of the future brand building value chain
16. THE 3P’S
Strategic alliances are
critically important in
brand building value
chain - how do you
build the right
partnerships?
Partnerships People
Proprietary
Tech
The war for talent is
fierce - how do you
find and keep the
right people?
Investing in tech can
differentiate and
provide a clear
competitive advantage
- how do you avoid the
pitfalls?
18. PARTNERSHIPS
§ Partnership opportunities are everywhere:Content, Media,
Technology, Services.For example:
§ Unilever and Vice to create content for its Broadly women’s channel
§ Pinterest and Vice join forces to create content for Bank of America
§ WPP,Daily Mail & Snapchat created Truffle Pig content agency
§ Brand-Agency JVs
§ Re-bundling of creative and media
Focus on the value to the customer
19. PEOPLE
The war for talent is fierce.
How do you find and keep the right people?
#2#
20. PEOPLE
§ 79% of agencies believe talent shortage is one of their biggest challenges
§ Agencies are not just competing for talent with other agencies – they are
competing with consultancies, startups, tech firms
§ Rising numbers of people freelancing and contracting
Source: eConsultancy & Adobe “The Future of Agencies” Report
Operating model that supports a ‘fluid’ workforce
Reinvigorate reasons to believe and belong
21. PROPRIETARY TECH
Investing in tech can differentiate and provide a clear competitive advantage
How do you avoid the pitfalls?
#23
22. PROPRIETARY TECHNOLOGY
§ 62% of agencies say they are increasing their investment in proprietary tech
§ 34% have an innovation lab and a further 29% are planning one
Source: eConsultancy & Adobe “The Future of Agencies” Infopgrahic
Clear plan for monetising your investment
Embed it into your core agency proposition
Build, buy or partner?
23. SUMMARY
§ Several forces are disrupting the traditional brand building value chain
§ CMOs are looking for new ways to create content and be agile
§ Agencies are evolving:
§ Creating new services and operating models
§ Making strategic acquisitions and alliances
§ Embracing new hiring models to secure talent
§ Building their own technologies to deliver new services and differentiate
themselves
§ Agencies must carefully choose how and where they add value,
be more collaborative with clients and other key players in the
new brand building value chain.