RSWUS Agency of the Future Webinar Slide Deck – Does your Firm Have the Traits for Survival?
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You’ve noticed: the advertising and marketing industry is in a period of evolution. New challenges seem to develop every day. Along with them, however, emerge new opportunities. In this 7/23/15 webinar, RSW/US President & Owner Mark Sneider describes eight traits your agency needs to grow, in light of ongoing change. Mark will: • Identify and describe each trait. • Explain the data behind each. • Offer steps your firm can take to Future-Proof itself.
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RSWUS Agency of the Future Webinar Slide Deck – Does your Firm Have the Traits for Survival?
- 3. HOW IT USED TO BE…
- 5. EIGHT TRAITS OF A FUTURE-PROOFED AGENCY •Identified by marketers •Required by competitive environment •Nurture these in your firm
- 6. THE AGENCY OF THE FUTURE • Nimble & Agile
- 7. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology
- 8. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor
- 9. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer
- 10. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer • Selectively Specialized
- 11. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer • Selectively Specialized • Savvier Competitor
- 12. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer • Selectively Specialized • Savvier Competitor • Content Creator
- 13. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer • Selectively Specialized • Savvier Competitor • Content Creator • Partner, Not Player
- 14. TODAY’S PROGRAM 5 Most Mentioned by Marketers
- 16. MARKETER’S PERSPECTIVE: “THERE WILL BE NO MID-SIZE PLAYERS. OUR INDUSTRY WILL LIKELY SEE THE LARGER GET LARGER AND WE'LL SEE A RISE IN SPECIALTY BOUTIQUE AGENCIES. THE MID-SIZE AGENCY WILL EITHER GET BOUGHT- OUT OR DIE.”
- 17. DISAGREE
- 19. • Mid-size companies need resource-rich agencies that aren’t big and expensive and public. HOW & WHY MID-SIZE AGENCIES CAN SURVIVE
- 20. • Mid-size companies need resource-rich agencies that aren’t big and expensive and public. • Marketers want specialization and you don’t have to be boutique to deliver it. HOW & WHY MID-SIZE AGENCIES CAN SURVIVE
- 23. • Mid-size companies need resource-rich agencies that aren’t big and expensive and public. • Marketers want specialization and you don’t have to be boutique to deliver it. • If you curate and you are proactive and keep on top of trends it makes no difference what size you are. HOW & WHY MID-SIZE AGENCIES CAN SURVIVE
- 26. MARKETER’S PERSPECTIVE: “THE AGENCY OF THE FUTURE SHOULD OFFER TRADITIONAL ADVERTISING WITH EFFECTIVE DIGITAL AND SOCIAL MEDIA EXTENSIONS, ALL CONNECTED TO RELEVANT PR --- ---AND THE AGENCY UNDERSTANDS THE ROLE OF ALL WORKING TOGETHER.”
- 27. AGREE
- 29. • Marketers need partners who can think. WHY INTEGRATION IS VITAL
- 30. • Marketers need partners who can think. • With so many platforms, consumers control how and when they get their information so agencies have to be built to deliver it. WHY INTEGRATION IS VITAL
- 33. MARKETER’S PERSPECTIVE: “DIGITAL WILL CONTINUE TO EVOLVE, SO THEY MUST BE FLEXIBLE AND AWARE ---- ---- BUT CREATIVE, NOT CAPABILITY --- WILL STILL BE KING.”
- 34. DISAGREE
- 35. MARKETER’S PERSPECTIVE: “AGENCIES NEED TO BE MUCH MORE SOPHISTICATED IN DATA MINING AS THEY NEED TO UNDERSTAND THE IMPACT OF THEIR ACTIVITIES, CONSUMER BEHAVIORS AND CHANNEL EFFECTIVENESS TO DRIVE MORE EFFECTIVE MARKETING STRATEGY. PRETTY ADS ARE NOT SUFFICIENT.”
- 36. AGREE
- 38. • Marketers are under intense pressure to deliver. WHY CREATIVE ONLY KIND OF MATTERS
- 40. • Marketers are under intense pressure to deliver. • Too many technologies out there that provide too many benefits to be ignored. WHY CREATIVE ONLY KIND OF MATTERS
- 41. August 2011: ~ 100 Companies
- 42. September 2012: ~ 350 Companies
- 43. January 2014: 950+ Companies
- 44. January 2015: 1876 Companies
- 46. • Marketers are under intense pressure to deliver. • Too many technologies out there that provide too many benefits to be ignored. • Being creative is more than just pretty pictures anymore. WHY CREATIVE ONLY KIND OF MATTERS
- 48. MARKETER’S PERSPECTIVE: “I THINK MARKETING AGENCIES WILL CONTINUE TO GET MORE COMPETITIVE AND STAY ON TOP OF TRENDS.”
- 49. AGREE
- 51. Why Agencies are Getting More Competitive • More larger agencies going after smaller pieces of business.
- 52. Why Agencies are Getting More Competitive • More larger agencies going after smaller pieces of business. • Marketers are increasing the number of agencies involved in a search.
- 54. Why Agencies are Getting More Competitive • More larger agencies going after smaller pieces of business. • Marketers are increasing the number of agencies involved in a search. • Agencies are getting more organized in how they manage their outreach.
- 55. 65% 30%
- 58. MARKETER’S PERSPECTIVE: “AGENCIES WILL LOOK MORE LIKE GENERAL CONTRACTORS WHERE THEY ACTUALLY GO OUT AND BRING IN LOTS OF SPECIALISTS, PREFERABLY THE BEST SPECIALIST , TO EXECUTE AGAINST INDIVIDUAL TACTICS AND THEY MANAGE THE ENTIRE CAMPAIGN.”
- 59. AGREE
- 60. What’s Happening Now and What to Expect • Marketers aren’t expecting agencies to “have it all” – they just want a smart agency that can proactively bring them the best talent.
- 61. What’s Happening Now and What to Expect • Marketers aren’t expecting agencies to “have it all” – they just want a smart agency that can proactively bring them the best talent. • Agencies are devoting specific resources to outsourcing ideas, technologies, talent.
- 62. What’s Happening Now and What to Expect • Marketers aren’t expecting agencies to “have it all” – they just want a smart agency that can proactively bring them the best talent. • Agencies are devoting specific resources to outsourcing ideas, technologies, talent. • Marketers are most often coming to us because their agencies are falling down in this area.
- 64. NIMBLE & AGILE • Nimble & Agile THE AGENCY OF THE FUTURE
- 65. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology
- 66. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor
- 67. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer
- 68. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer • Selectively Specialized
- 69. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer • Selectively Specialized • Savvier Competitor
- 70. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer • Selectively Specialized • Savvier Competitor • Content Creator
- 71. THE AGENCY OF THE FUTURE • Nimble & Agile • Student of Technology • Curator & Contractor • Real Timer • Selectively Specialized • Savvier Competitor • Content Creator • Partner, Not Player
Hinweis der Redaktion
- Mark Sneider What we are Survey background/this survey Question asked Incorporate open-ends, closed ends #rswus #agencynewbusiness On our site
- Clear things are moving quickly You need to be thinking about the future. Talk case pudik call. We talk with agencies all the time Amazed that there are still some stuck in dark ages…in some respects still operating in a less than digital world Some still not active in the social space Some still relying on networking/referrals for new opportunities They remind me a little of this guy
- Based on what we’re seeing – with technology entering the conversation at an increasing pace With marketers under increasing pressure to prove out ROI With the need for agencies to more responsive to the needs of their clients and the changes in the market… The day of the full service agency that is just a do-er and not a proactive partner is long gone. The survey information we’ve gathered points to…..
- …an Agency of the Future that embodies 8 key traits. In this webinar, I’ll speak to each of these traits and the Marketer perspectives that illuminate the need for your firm to embody these traits. I want to stress that not EVERYONE in your firm has to possess these traits independently, but collectively, as an organization, your culture needs to foster and promote them. A quick note on the graphic here: as a sort of fun way to illustrate these traits, we’ve tied them to representatives of the “wild kingdom” who possess these characteristics. More on this toward the end of the webinar.
- Agencies need to be more nimble and agile They need to be responsive They need to be able to do things they haven’t necessarily historically done for clients It might mean tighter margins at the end of the day because full service will mean just that “full” service Challenge is…Marketer ranks continue to thin. Demands on them are greater than ever before… And smart ones need their agencies more than ever before
- Marketing technology needs to be part of your vernacular Marketers expect and need you to be their eyes and ears Study what’s current…read more…be aware of what others are doing. Get out of your shell.
- Next, marketers need their agencies to be “general contractors” No longer do marketers – in general – need an agency to have it all in-house. Things are getting so specialized and so sophisticated, unrealistic to think that you can have it all But be honest…example of Jacobs agency. Set expectations Also try and establish solid relationships…
- This is an extension of being nimble and agile. This is about reacting in real time to changes that are going on with your clients brand Talk x+1 technology/programmatic marketing
- Consultants have been shouting this for years – and I personally think it’s getting more and more important. Marketers are busting up the full service model and looking for people/agencies that have specific expertise In sectors and technologies Recognize that you don’t have to be so zeroed in on one thing that that’s all you do…but being everything to everyone isn’t a winning strategy either. Have talked with agencies that are afraid to show themselves as too specialized on their website You can have specialties on your site without alienating people.
- And the agency of the future possesses a savvier view of the competitive agency world. Gone are the referral and networking days Inbounds making inroads But even the smart users of inbound are complementing their efforts with even smarter outbound strategies. We’ve been talking this for the last 8 years – every agency needs a sales/marketing strategy. Can’t just go through life living on HOPE as a strategy.
- Marketers tell us they read agency blogs. In fact 89% of Marketers tell us this. Simply blogging isn’t enough though. Have a strategy and a plan. Develop content that clearly positions you as a thought-leader. And, again, simply blogging isn’t enough. Promote your content proactively. Utilize the marketing tools and media available to you to put this content into marketers’ hands.
- And finally, as we’ve talked…agency needs to be a partner, not a do-er or player Most of the marketers that come to us on the AS side do so because they are fed up with their agency not taking proactive positions with their business This can happen soon into a relationship…but most often it happens when an agency becomes complacent after a long-standing relationship….so be alert and stay ahead!
- So today what we’re going to do is talk the 5 most mentioned comments made by marketers in our survey – when asked what the agency of the future looks like. Hoping it will provide some insight/perspective for you that might help you as you rethink/reshape your agency for the future
- The first of the most often mentioned comments….
- I say ‘no’ to this thinking
- I don’t think it’s a function of size – it’s a function of focus and how well you deliver I have seen mid size firms get a bit diluted – so if you’re a growing small shop that entering the mid-size realm, key is keeping yourself focused on what got you there. Stay true to the service you prided yourself on when you were small and nimble. Don’t lose your character…probably the toughest thing to hang on to. Being mid-size isn’t a death sentence…unless you let it be.
- The other thing to consider here – and we see a lot with our mid-tier spending marketing clients on the agency search side – READ SLIDE Small firms are great because they can have a tendency to be much more nimble, but companies that aren’t big enough to go with the big boys but want that big-boy feel…will go with a resource rich mid-size firm – if they have the experience in their world.
- As I said before, specialization is growing in importance…but its not an all or nothing affair. Key is having some depth in whatever sector you claim to be “expert” in.
- As noted here, 90% of marketers state that you don’t have to have a ton of your agency dedicated to a sector to make you a specialist. In fact over 50% say that you only 50% or less to make it work for them.
- The bottom line is most marketers want some form of specialization. They have long felt it important in our surveys and it seems to be growing year after year…. So makes no difference what size you are… you just need to prove to your marketing partner that you can deliver in their category. A perfect example, Mercy Health search – feel like you’re ramping up
- And the bottom line is if you’re proactive and you keep yourself on the top of trends – again…makes no difference what size you are.
- We see it in our surveys among marketers The top reasons why marketers leave agencies…READ CHART And…it’s what we see in our searches And…it’s why/how our RSWUS agencies find/win new business.
- So now on to #2….
- Another frequently mentioned comment by marketers – relative to what they think the agency of the future should or will look like
- I tend to agree with this one. And it’s not just about the agency having it all…it’s about the agency understanding the need for a marketer to have it all – or a Marketer knowing that their agency can look at the world in this context for the benefit of their brand.
- And we’re not just talking about full service agencies here…and their ability to get it. It goes both ways…it’s not just enough for a digital firm to be a digital firm. A question we’ve asked in our surveys over the last few years and the numbers keep growing
- Marketers want agencies that can think and plan and execute in an integrated fashion – And/or work with partners that can work with other specialists they deal with
- READ SLIDE Fact of life. And by “deliver it” – “IT” can be in the form of perspective, strategy, execution – with or without partners.
- The digital only phenomena plays out here.. Marketers tell us that they aren’t likely to use a digital only agency in the future if they aren’t using one now. I personally think this is a function of or a perception that digital only agencies are typically more limited in their view of the world. We have a number of digital agencies that we represent that are “digital at the core” which is a good thing – because it suggests that while foundationally grounded in digital, they know how to look at a world beyond the digital and social space to accomplish what a marketer needs to accomplish.
- Let’s move to another most mentioned comment on what the agency of the future looks like. In this one we’ll actually talk two comments – one I don’t agree with…and the other making a heck of a lot more sense – at least in my opinion…and if true, more likely to be the way agencies will think and operate in the future.
- READ SLIDE
- I completely disagree with this one. Back in the day when digital first came to play, being wildly creative in the space was the way to go…but not so much anymore. Remember the days of the flash??? How cool was that?? And how non-functional was that?? So here’s another perspective related to the same area…
- READ SLIDE
- Completely agree with this one. Creativity will always be an important element in the agency delivery space… but as the space gets more complex, creativity will only be one part of it.
- And as we look at marketers anticipated spend changes – there is more of a tendency to drive dollars into areas that are not traditional and more technology/digital related. Not that this suggests that creativity isn’t an important element – just points out that marketers are shifting – and so should you.
- So one reason why creativity only kind of matters…. Is because marketers are under intense pressure
- We have seen it over the past few years at the Mirren conference – Marketers talking about the demands – the ROI pressures – the need for their agency to be more responsive.
- READ SLIDE There are some real advantages that can be gained from the use of different marketing technologies – and you’re going to look like a real hero if you can deliver an on-going flow of new ideas for your clients.
- This is the way the marketplace looked in 2011 – approx 100 companies Pretty confusing – even back then!
- A year later – approx 350…starting to get a bit crazy.
- January 2014 ----950+ companies were identified as playing in the marketing technology space, and…
- With yet another year passing, this number has nearly doubled again. Take the time to read pubs Attend a conference on occasion
- Or you can check out the annual report on marketing technologies we release with Mirren that looks at some of these
- Cuz the bottom line is being creative is more than just pretty pictures anymore. Being creative involves creating smart thinking strategy, creative solutions, creative measurement tools, as examples.
- Ok…let’s move on to another marketer point of view relative to what the agency world will look like in the not-to-distant future….
- READ SLIDE
- And I couldn’t agree more with this.
- Agencies in general also are also on board with this one… 80% believe that they will be getting much more aggressive this year – in their attempts to win new business. We’ve seen it with a record number of agencies reaching out to us and signing up over the past 6 months. And with a record number of marketers coming to us looking for help finding new agencies.
- With fewer marketers, there are fewer opportunities for agencies which is forcing larger agencies to go after smaller prizes. And as marketers are carving out pieces of their business, there are more agencies trying to win business.
- Marketers seem to recognize this and there seems to be a willingness to include more agencies in their consideration set when they’re looking for a new firm.
- 43% of marketers in this year’s survey said they are including more agencies – we’ve just seen this number increase year after year. What this means for you is: Be critical/questioning Be smart in what you get involved with Understand the scope
- Maybe it’s been the years of providing the counsel we’ve been providing… Along with all the agency consultants out there talking similar stories… But agencies are getting much more organized in their outreach. Whether on their own – or in hiring firms like ours to help them get the job done.
- Agencies said that they are likely to invest more heavily in their marketing, sales, people in 2015 as a result of this growing need to get ahead of the game. 95% of agencies state this to be their plan for 2015. So if you’re not one of them…or you’re on the fence a bit, you might find yourself in a challenging position as you roll through the year.
- It’s playing out in a lot of ways…. More agencies are blogging More agencies are building inbound programs… And it appears, if we use our business as any indicator, more agencies are creating programs or signing up with companies to execute programs for formal outreach to prospects they’re interested in going after.
- And now for our last marketer perspective/commentary on the future of the agency.
- READ SLIDE
- Definitely agree with this one too
- As we talked earlier…READ SLIDE Key here..is be proactive Come to your client with ideas Come to your client with new companies to consider as part of their outreach plan Come to your client challenging conventional thinking If you have a true partnership, they’ll appreciate it…always.
- Moveo example
- Treat every day like it’s the first day of a relationship. If you think in these terms, you’re sure to be successful in building a solid partnership with your agency.
- So again…in my humble opinion…the agency of the future that will be the winning agency will be
- Zig zag Move as your client moves Respond to the market as the market moves
- Being a creative talent is good…but being a student of technology will help keep you and your agency ahead of the curve.
- Remember it’s not an all or nothing affair. You can be a general contractor – but know who you’re bringing in – give your client confidence that you’ve dotted all the I’s and crossed all the t’s.
- Your consumers moving fast…so should you….otherwise they’re going to be steps ahead of you.
- Think about where you carry specialties and how you can leverage them.
- 2015 looks to be a pretty aggressive year for competition among agencies! It’s wise to expect this will continue to be the case in 2016.
- Establish yourself as a thought leader, and promote it!
- Be a partners…not a follower.
- So that’s kind of what we think and marketers think the agency of the future looks like. What it looks like today, may not be what it looks like a few months from now or a year from now…but that’s the way everybody seems to see it today. Likely to change just as fast as our world today is changing. But if you’re not thinking about it, you need to get on it. Modify how your agency’s structured, dedicate the right resources to making your agency the deliverer of insights and ideas and technologies… Then the value you bring to your clients is more than just a great feel good campaign. It’s real smart thinking and a real partnership that will run a lot deeper than a pretty ad.
- As I mentioned when in opening the webinar, we have produced an Infographic about The Agency of the Future, and the 8 Animal Traits You Need to Future-Proof Your Agency. If you’d like more information it or would like to download it, see the resources tab on our website or email me. This Webinar has been recorded and will be posted on our site as well. Please email me with any questions.