Agency Crunch! (Update)


It is time to post an update about the “agency crunch”, after the first discussion post six months ago about the subject titled “Traditional Advertising… For Whom The Bell Tolls!”

 
  
In my original post in New Generation Agency Network, I have mentioned WPP’s 47% profit loss as a sign for such a crunch. 
  
This time the advertising industry is shaken up with Chicago’s agency deaths. Considering Windy City’s historic significance in the business, closing down the Chicago offices of JWT and DDB is regarded as “a siesmic event, rocking the ad world”.  
  
Now, it is definitely time to adapt to consumers and talk with them not at them. As Edward Boches said in his recent post “It’s time to adapt again. And quickly.” As we all know, for agile business nothing can stay “traditional” in this day and age.
 
Please check out Edward’s recent post about Forrester’s Research in Future of Advertising Agencies where they interviewed more than 60 agency leaders, clients and media in pursuit of the answer: http://bit.ly/aCo8Wz 
  
Also, a young marketing strategist Bud Caddell’s take on the subject is also very enlightening. He also thinks “The advertising agency, in its current form, has a rather bleak future ahead.” Make sure to check out his post entitled “who says the future needs an advertising agency?”: http://bit.ly/bkbcqK

Well, we all believe that we definitely need agencies and we also know that we have to adapt. But how? As for what will agencies look like in 2015, here are three predictions for the future agency model by Al DiGuido:
http://bit.ly/ctrE2E 
  
So, as a final note, I leave you with one of my quotes: “Evolution is inevitable and innovation is the answer”. Check out my take on Future of Advertising and New Generation Agencies (a SlideShare presentation): http://bit.ly/9LFDQ5  
  
  
Regards,
  
  
Köksal Abdurrahmanoglu
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digitally enhanced individual  
 
     

follow me @koksal        
 
 
Join us where we discuss the Future of Advertising at
http://www.linkedin.com/groups?gid=2090773&trk=hb_side_g

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