LinkedIn Presents the Future of Advertising Agencies [Video]
December 3, 2017
Editor’s Note: “LinkedIn Presents the Future: Advertising Agency Edition” is the second video in our LinkedIn Presents the future series; the first edition, which examined the power of sales and marketing alignment, can be viewed here.
On one hand, it’s easy to make the case that advertising agencies are under siege. The long-time traditional centerpiece of the agency business, the TV spot, is waning in influence. And consulting firms such as Accenture and Deloitte are buying up agencies and competing with the giant holding companies such as WPP and Publicis.
On the other hand, it’s just as easy to admire the adaptability of the agency world, which has, over the past two decades, embraced digital advertising and marketing in all its forms, from email to banners and from search to social.
It’s certain that technology is not done reshaping the agency world. What’s uncertain is exactly how.
But many agency leaders have clear ideas on how they anticipate technology will change the ad business, and how they will change their agencies to grapple with these changes. They’ve generously shared their visions of the future in this short video, “LinkedIn Presents the Future: Advertising Agency Edition.”
Tom Goodwin, EVP, Head of Innovation, Zenith, sees agencies embracing digital “in a way that’s kind of beyond advertising,” he said, adding: “Maybe that’s using things like voice. Maybe that’s using AI and automation…. I think probably ad agencies need to get a lot more ambitious.”
Tequia Burt, CEO of Content(ed), makes the case that ad agencies must strive to have their employee base reflect the world they’re serving. “Agencies are going to have to be more diverse,” she said.
Mark Schaefer, Executive Director, Schaefer Marketing Solutions, argues that agencies will need to wade deeper into the business of creating their own audiences and not really on media companies to do so. “Ad agencies are going to have to be where the audience is, what is basically content, influence, reviews,” he said. “That’s where the influence is. That’s where the power is.”
Ultimately, thriving in the agency business will demand thriving in a world of relentless change. “We fundamentally operate under the mindset that agencies in motion will stay in motion and agencies that rest are going to rest in peace,” Sean Reardon, CEO of Zenith, Moxie, MRY, said.