Via WSJ and NYT
“Consulting companies have spent years working with chief executive officers and chief information officers on tasks ranging from developing high-end business strategies to implementing new technology. They are increasingly targeting the chief marketing officer as the marketing segment of the c-suite becomes more responsible for the overall customer experience.” —WSJ
“As Cannes Lions approaches, you can expect there will be plenty of chatter, as in recent years, around holding companies and large agencies sending fewer people. I don’t think it signals that attendees and businesses find no value in the festival, nor does it suggest there are no clients to meet with at Cannes. Once again, it comes down to public companies focusing on the bottom line. Big agencies can no longer afford to send 200 folks to France and bill it back to the client like in the olden days. The largest advertising companies in the world have to think smaller.
The Accenture-Droga5 marriage has made waves and may alter the scene, but it doesn’t represent a future devoid of ad agencies. The future will instead reflect what modern clients need—ad agencies that can move quickly. And there’s nothing wrong with that. Just ask the rest of the business world, where the money still flows but now races toward new kinds of businesses that are built on speed.”—AdAge
“It’s a sign that the C-suite might be more receptive of marketing solutions. Consulting is not good enough anymore — it’s what you do with that advice.” —CNBC
“CMOs found growth through technology investments to improve customer experiences and loyalty (while also insourcing and slashing agency fees). That playbook provided CMOs the growth their firms demand, yet this force multiplier no longer works now that we’re in a CX rut. The new growth will come from creativity guiding brands, experiences, and communication.” —Forrester
Context
“… agency executives argue that consultancies lack the culture to excel creatively.” —AdAge / How IBM, Accenture, PwC and Deloitte Are Shaking Up the Marketing Industry
“Four consultancies rank among the world’s biggest agency companies: Accenture Interactive (No. 6), PwC Digital Services (7), IBM iX (8) and Deloitte Digital (9). Combined revenue: $13.2 billion. IBM was first of the four to make the list, in 2008—and the first to crack the top 10, in 2014.” —AdAge
“A lot of the more traditional agencies don’t rely on data since they’re so focused on creative, and that won’t work anymore. The future will be about marrying creativity with data, which means agencies will have to make sure they have staff on board that can dissect data in creative ways.” —AdAge / Agency of the Future
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