What is the Next Agency Model?
After covering all the prerequisite subjects for the future of advertising and agencies, it is time now to fire around ideas about what the next agency model would be.
In my part, I have already reformed my digital agency as a new generation agency last year and there are quite a lot of examples out there like Madison Avenue’s Do-It-All Startup Anomaly (http://money.cnn.com/magazines/business2/business2_archive/2007/02/01/8398979/index.htm?postversion=2007021305).
The Simple Formula
To fire up the discussion, I believe the simplest formula for the new agency model passes through consumers’ hearts and 360º everyday life paths, getting brands closer then ever to consumers by starting a meaningful and continuous conversation between the two.
In order to achieve such conversation we should focus on consumers’ constantly changing behaviour in life and in communication. And that itself already requires a totally new way of handling brand communications. Therefore, on top of our existing agency qualities, we now need extra multi-tasking capabilities and additional elements in our service mix to adopt.
First, the next agency model fundamentally requires adopting a solid digital understanding and constantly keeping up with various digital capabilities in web, mobile, digital outdoor, IPTV and many other forms that are emerging. By the way, underestimating digital would be a total deal-braker becoming a new generation agency.
The Key Elements
The other additional key elements I believe would include providing unique content to generate timeless conversations, digital PR to spread the message towards the “long tail” ( http://www.longtail.com/the_long_tail/2008/11/more-long-tail.html ), media planning and buying to ensure the effectiveness of brand’s each dollar spent and even licensing technology to allow brands to play too and get involved more.
Lastly, yet probably not the least, another huge capability for the next agency model is the ability to gather and analyze data for uncovering comsumer behaviour and eventually finding the right formulas for generating sales by mass-communicating with personalized messages. Since the technology allows us to communicate 1-to-1 and yet in masses with consumers, I ironically prefer to call this eCRM capability 1-to-1 “mass” marketing.
The Next Agency Model
In a nutshell, I suggest a multi-tasking, multi-talented, 360º do-it-all compact entity as the next agency model. Especially after the economic downfall, brands are now asking for realization of each dollar they spend on us and on delivering their message. Therefore, to be “all-in-one” matters more then ever nowadays.
So, we the agencies are now in a huge battle of becoming the adopted, innovated new advertising agencies. Currently digital or traditional, I believe, we are all racing for becoming the “all-mighty” new generation agency…
president & ceo / adinteractive
founder / istanbul.com & adinteractive
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- 15 Eyl 2009 / 1:33 pm