Changing consumer habits, driven by the shift from analog to digital media, are revolutionizing the advertising industry. Advertising agencies have the most to lose according to digital study.
The long-term future of the advertising is bright, according to the Accenture Global Digital Study. But the study is also a call to action, particularly for ad agencies.
Key Findings:
- Advertising agencies have the most to lose in the transition to digital advertising.
- A real threat to the survival of advertising agencies and traditional media companies that do not embrace new technologies and business models.
- Advertising will become more performance-based.
- Analytics will become more accurate and more critical to the business.
- Advertising relationships with customers will become more interactive.
- Traditional advertisers are largely unprepared for the wave of digitally driven change about to engulf them. Especially in terms of customer analytics, targeted advertising and customer interactivity.
Those surveyed for the Global Digital Advertising Study were unanimous that major disruptive change is coming — and that those who fail to respond will simply find themselves swept away.
Bare in mind that this shift in advertising brings with it a dramatic shift to your agency’s new business practices and innovative new ways to promote your agency.
The digital phenomenon is here to stay. Why not put it to work for your agency?
Michael your absolutely correct regarding using Web 2.0 technologies to expand your agency brand presence in its new business efforts. If you’re not using those technologies, you’re already showing the cracks in your agency knowledge of the new media universe. Plus, if you’re pushing Web 2.0 services to prospects, shouldn’t you practice what you preach? Not only do we use a combination of traditional outreach like direct mail, e-mail, eNewsletters and telemarketing, among other tactics, but we now have our agency partners writing three different blogs, we’re producing podcasts to express our thought leadership, we’re heavy users of paid search, we’ve added a Facebook page primarily for recruiting and to share our culture experiences with outside individuals, and we’re just launching a custom YouTube Channel where you can share our agency work. I was reading something recently that used the term “liquid content” and think that’s an appropriate term your outreach should be, liquid. There’s no single platform for reaching your prospects, your prospects are doing a Google search, reading blogs, listening to podcasts, etc. to find an agency partner and the more ways and outlets your content has to reach your prospects, the greater chance they’ll find you. And, as a business development person, that makes life a little easier when the phone is ringing and your not dialing out. If you’re agency has not made that move to shift interactive to the core of your offerings, you need to make that transition fast, or you’ll be left behind.
Greg your comments are much appreciated. Hopefully agencies will wake up. It’s good to hear from those who are practicing what they are preaching to their clients.
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[...] Major Shift in Advertising Means a Shift for Agency New Business Practices [...]
[...] Major Shift in Advertising Means a Shift for Agency New Business Practices [...]
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[...] Major Shift in Advertising Means a Shift for Agency New Business Practices [...]
[...] Major Shift in Advertising Means a Shift for Agency New Business Practices [...]
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[...] Major Shift in Advertising Means a Shift for Agency New Business Practices [...]
[...] Major Shift in Advertising Means a Shift for Agency New Business Practices [...]
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