“Advertisers all over the world are putting their business up for review,” according to Nick Manning, Chief Strategy Officer of Ebiquity, “They recognize that the world has changed, and they’re looking for agency partners who can unlock the new communications landscape in all its manifestations while being responsible, professional business partners.”
THE PATH FORWARD: Marketing’s Outlook Into the Digital Future is a whitepaper published in July 2015 by the CMO Council and Ebiquity. They researched the effect that the digital shift is having on CMOs and their agency relationships. While the complete findings can be found here, a few of the highlights are noted below:
- Digital has not just been a shift in marketing; it has been the shift in marketing, impacting everything from operations and performance to the very way we reach and engage with our customers.
- 72% of CMOs say that they will seek new agency partners to better exploit data & digital.
- 83% of clients surveyed are looking for agency partners who are considered to be an expert in the space with specialized knowledge.
- Digital has fundamentally changed the way our customers reach and engage with brands.
- Digital has given the customer (and the voice of the customer) even more sway, power and influence than the taste makers of Madison Avenue.
- Brand owners now need agency partners who can genuinely provide the content and channel resources they need across the full spectrum of traditional and new options.
- Accountability is key. Marketers are looking to apply far more stringent and taxing ROI thresholds on their media and agency partners to maximize return, ensuring the return on their advertising investments are held to higher standards.
SO, WHAT SHOULD AGENCIES DO?
Don’t be afraid to specialize in what you do best.
Generating new business just became even more difficult, if not impossible, for ad agencies attempting to stick with “business as usual.” CMOs want agencies who are experts in their industry, agencies who can deliver strong content in the digital world and who understand their customers. This is actually the topic I will be sharing at the Fuel Lines New Business Conference in Nashville titled: Narrow Your Focus to Expand Your Opportunities, including the development of Sheconomy®, A Guys’s Guide to Marketing to Women, and its impact on a small, 30+ year ad agency.
By the way, if you are charged with developing a new business program for your agency, this timely conference is a must based on the new findings noted above! The conference was developed by Michael Gass, who has has helped pioneer the use of social media, inbound and content marketing strategies specifically for agency new business, since 2007.
Designed primarily for the small to mid-size independent shops with 150 or fewer employees, this premiere two-day conference will include everything needed to create new business success and grow your agency during these rapidly changing times. The conference is limited to the first 200 registrants, so check it out if you plan to be the agency being chosen, as opposed to being put up for review.
Let me know if you plan to attend. I look forward to meeting you!
Stephanie Holland, founder and author of Sheconomy® and agency owner for more than 30 years also served as the Executive Creative Director. Working in an industry that is dominated by men, she is one of only 3% of the female creative directors in the country. Stephanie works mostly with male advertisers, helping them successfully market to women. Subscribe to She-conomy by Email