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In this volume of our biannual trend publication, we explore the theme of Evolution. Agencies, consultancies, brands and other industry thought leaders largely agree that 2016 is shaping up to be an evolve- or-die year. Or, to put a positive spin on it, we might say it’s a year to thrive through intelligent adaptation. While some agencies are going the way of the dinosaur, a forward-thinking cross-section of shops are reporting increased revenues and profits by partnering with clients in new and innovative ways, by bringing their own IP to market and more. Other industry players need to evolve as major shifts in the way consumers use technology, consume media and engage with the world around them are forcing massive changes. Throughout the 2016 editions of The SoDA Report, we’ll explore top trends and behaviors that leading practitioners in our industry won’t be able to ignore as the year unfolds, and we’ll cast a spotlight on brands, agencies and individuals who are flourishing in this environment. Within Modern Marketer, Industry Insider and via our Digital Outlook Study (conducted in partnership with Forrester Research for the first time), we’ll also explore how the landscape of creativity and the modus operandi for agency-client relationships are shifting in radical ways. Spurred by rapidly changing consumer expectations and behaviors, agency-client partnerships are expanding in incredibly exciting ways beyond the marketing realm to include business strategy, R&D, product development and customer service. We are so proud of the growth and development of The SoDA Report over the past year.
As the CEO of Momentum Worldwide, a nontraditional agency that spans all facets of creative, media and ideation, Chris Weil knows how difficult invention can be. After all, he is credited with coining the term "phygital," which describes the increasing connection between the physical and digital world around us. Weil strives to bring what he calls a "total brand experience" to such clients as American Express, the U.S. Army and Microsoft.
It's one reason he was selected to serve as a judge for this year's Project Isaac Awards. In that spirit, Weil was asked to share his thoughts on invention. Interestingly, he expresses a desire to completely reinvent the agency structure from being execution-based to being growth-based. And he offers his thoughts on the difference between creativity ("inspired") and invention ("brave")...
Almost every major brand harnesses Twitter to share news and build up a dialog with their customers. But, surprisingly, very few of the people behind those brands — the marketing teams, agency executives and creators of the tech that power digital advertising — use Twitter in the same way for themselves.
The Twitter accounts of most top marketers and agency CEOs are rubbish. They aren't even updated regularly.
That's why we pulled together this list of the best people in advertising and marketing to follow on Twitter....
The World Federation of Advertisers has devised what it says is the first Global Media Transparency Index. The index provides scores to the top 20 markets, based on buying practices and the relative ease or difficulty of deciphering how media rebates are applied to media purchases.
Currently, France is top-ranked in terms of transparency and openness about how its buying rebate policies work. At the other end of the scale, China, Japan and the Ukraine have been deemed “opaque,” with virtually no insight or effort to divulge the specifics of rebate practices....
As competition grew in the late 1960s and the phone stopped ringing, ad agencies turned to their public relations cousins and asked for help to stand out. From the mid ‘60s on, this took the form of pumping out press releases and cultivating media to cover agency activities. The vast majority of the content was announcing new clients an agency had picked up and awards won at the ever-increasing number of shows.
Both of these items quickly became table-stakes material, contributing no real differentiation for the agencies. Sadly, the biggest innovation agencies introduced in subsequent decades was hiring public relations professionals to work in-house.
All this did was reduce cost as these folks brought little new to the equation. The result is advertising agencies have confused public relations with brand building for the past 50 years. Do not get me wrong: Public relations has a part to play in ensuring an advertising agency is top of mind. However, most public relations practiced by agencies remain incredibly traditional and shockingly boring for an industry that prides itself on creativity. Avi Dan, founder of Avidan Strategies, wrote in a Forbes article that agencies that hire a public relations firm as a way to solve new business struggles are soon disappointed....
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The ongoing McDonald's creative review initially included all three of the ad industry's largest holding companies. But WPP made headlines earlier this month for bowing out (leaving incumbents Publicis and Omnicom in the running), and the alleged reasons behind its decision are even more intriguing. The client required competitors to complete their respective pitches in 60 days, with a June 30 deadline, and presented contracts forbidding future partners from turning a profit on base compensation, according to sources with direct knowledge of the matter. Agencies would allegedly operate at cost before meeting unspecified targets for performance-based pay. "Clients have always had the power," said Bryan Wiener, executive chairman of 360i. "And performance-based compensation is not a new topic either, but it's very hard to find ways to make it work so that all parties are aligned. "McDonald's did not respond to Adweek's requests for comment on the claims, which stirred controversy among creative agencies. One source who requested anonymity described the terms as "unheard of" and noted, "I don't know of any business that operates that way."...
It's that time of year again, when agencies use all their remaining creativity and joyful spirit to create festive holiday cards, videos, and websites. It's also the time where agency staffers are given free reign to get downright weird. And thankfully, this year did not disappoint.
If you're looking for messages of goodwill and hope for humanity, you won't find it in these examples. But you will find awkward people dancing around in onesies, a hipster santa, and a Pomeranian in 12 different outfits -- and isn't that the most you can hope for this holiday?
Check out this list of the weird, wacky, and wonderful world of agency holiday cards. (Warning: The audio in #3 is NSFW.)...
Many agencies have launched their own incubators and accelerators in the past few years. Learn about 16 cool products agencies have launched.Agencies have, within their walls, some of the most brilliant creative and strategic minds. But these creatives are subject to the volatile business of agencies: Project work that comes and goes, relationships with risk-adverse clients, and billing rates that are stagnant.Agencies believe they are in the services business, so that is what they do. But in reality, they have the knowledge, expertise, and experience necessary to create products, services, and software.That's why so many agencies have launched their own incubators and accelerators in the past few years....
Here’s a puzzle for you: What do advertising and promotion managers have in common with construction helpers, carpenter helpers, stucco masons, typists, textile machine workers, and people who operate drilling and boring machines?Answer: They’re all working in areas where U.S. jobs are disappearing the fastest, according to a special report from 24/7 Wall Street.
Moreover, of all those categories, advertising and promotions is the worst, having shed 65% of all jobs over the past decade. “No occupation has lost a higher proportion of its jobs than advertising and promotions managers,” the report claims.You're better off working in a textile mill, running a drill press, or hauling two-by-fours for a carpenter than you are if you pursue a career in advertising...
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The annual SoDA Report looks at the digital marketing Outlook for 2016 and provides a 2017 forecast as well as a snapshot of client-agency relationships. recommended reading for digital agencies and marketers. 9/10