The Agency of the Future is not an Agency
Consumers have changed, the power of technology has grown exponentially and our personal sense of purpose is redefined every day. However the models which marketing agencies operate haven’t changed.
According to this year’s PSFK research, while 50% of brands think advertising is more important than it’s ever been, 56% of the brands also feel advertising agencies are not as important as before.
Communication companies which should be on the edge of innovation are acting more as spectators than innovators. Meanwhile disruptive technology companies are seeing exponential growth across many market sectors.
The human attention span shortened from 12 to 8 seconds between 2000 and 2013. Spending on digital video advertising increased almost 60%, while the number of ad blockers rose from 54 million to 121 million. Millennials are spending more time using messaging apps than using social networks.
We live in a world of 3D Printing, iBeacons, Neuromarketing, Predictive Analytics, Sharing Economy and Programmatic Advertising. These may sound like futuristic concepts but we must come to accept of one hard truth; The future is already here – it’s just not evenly distributed.
Experiential was re-born with MoSoCoLo – mobile, social, content, location and associated data analytics which derive from all activity. This all gives unprecedented information and insights.
Marketing has grown from brand to market share to ‘end to end customer experience’ and the challenge is to cross-functionally align all touch points.
In the next few years, a new breed of marketing department will emerge. Part trend watcher, part data scientist but definitely marketing managers who understand technology and data. Tools sold today as solutions for current problems are going to be commodities tomorrow.
There is no time for intuition, guts are not enough for the connected world; success now takes informative, purposeful and creative results that produce measurable results.
The future agency will solve the problems that really need solving, uncovering the real issues that consumers face as businesses undertake a digital transformation.
By nurturing agency staff who have an innovator’s DNA, they must have the ability to prototype new solutions.
It won’t be an easy change. It is necessary to move past branded messaging and transition to becoming co-creators of identities, tools and products with their clients.
The agency of the future seeks convergence between Marcoms, technology & software as a service, creating assets, IP’s and platforms that can be real growth drivers for business.
The agency of the future liberates brands from the shackles of fear that take over brands who are spectators and not agents of change.
Is your agency focused on delivering innovation and future proofing your business or worried more about getting the same markups from ads budgets?
The agency of the future is not an agency. Because in the world we live in, there is no longer space for the agent or middle man, this space is reserved for the innovators.