Agency of the future keynote
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Here is an edited view of a Keynote presentation I have given to a variety of Ad Agency senior management. The focus really to question their current model in the holding companies and to be a catalyst for discussion about changes required to better address the changing consumer landscape and their demands for us all to be "Customer Obsessed".
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Agency of the future keynote
- 1. the agency of the future We must move beyond the campaign and understand how to drive true customer value.
- 2. Thought Starter - Discussion Paper AGENCY OF THE FUTURE āSoftware is āeatingā the worldā! Source: Marc Andreessen, Andreessen-Horowitz What is our challenge today? ! The pace of change in consumer behaviour and technology demands that every aspect of communication becomes more ļ¬exible, integrated and efļ¬cient.
- 3. Thought Starter - Discussion Paper AGENCY OF THE FUTURE what must the āagency of the futureā believe and deliver to be credible? If advertising/marketing is a business discipline focussed on selling the most goods and services at the best prices, it canāt be just a random collection of activities or assumptions set in time. ! It must be adaptive and dynamic to respond to the market.
- 4. Thought Starter - Discussion Paper AGENCY OF THE FUTURE we are all experiencing the effects of technology changing expectations. ā Most advertising is still oriented around a ālaunch and leave itā philosophy ā an idea that is contrary to product development best practices....We need to work, get things to market, and learn faster. Do it cheaper, leaner, and more collaboratively. Find ways to operationalize hacking andĀ experimentation.! Winston Binch, Chief Digital Oļ¬cer, Deutsch LA ā ā Media is less and less often about crafting a single message to be consumed by individuals, and more often a way of creating an environment for convening and supporting groups. Clay Shirky, Partner, acceleratorgroup ā
- 5. Thought Starter - Discussion Paper AGENCY OF THE FUTURE Weāre less valued by our clients (poor results) and by their audiences (not seen as cultural contributors) ! advertisers increasingly frustrated with their ad agencies. ā£ 90% of clients believe creative ideas and strategy are critical deliverables for their agencies! AND YET...! ā£ 85% think that agencies have not improved service to clients! ā£ 82% of clients see a need for better briefs! ā£ 72% of marketers report that agencies are āinconsistentā and need to improve! ā£ 46% of marketers think that agencies are struggling in transitioning their business model to incorporate a more digital platform Source: Avidan Strategies 2012
- 6. Thought Starter - Discussion Paper AGENCY OF THE FUTURE ā£ compelling! brand narratives happen ināØ real-time We need to develop strategic processes, not strategic plans, whose minimum outcomes will meet business objectives. But which also have the potential to deliver far more. ! Things to consider:! ā£ People are in ļ¬ux - daily, hourly. So we must be adaptive and dynamic to respond to their needs.! ā£ Consumer, user, and customer are all states - successful brand interactions can transform these states ! ā£ We need to provide ourselves and our clients room to evolve our thinking as consumer reactions are gathered in real-time! ā£ For brands, that means pursuing a constantly shifting, iterative approach to projects and campaigns.
- 7. Thought Starter - Discussion Paper AGENCY OF THE FUTURE ā£ we need ! a modern approach to strategy that... limits the number of up-front assumptions made prior to developing a solution.! ā£ ā£ marries strategic development with product/platform development.! ā£ turns client and agency into collaborators - future outcomes āØ are unclear therefore no side can claim to have the answer.! ā£ demands unity and collaboration between āthinking teamsā and āmaking teamsā reacts to new opportunities as they become available and uses them to solve business and marketing problems.!
- 8. Thought Starter - Discussion Paper AGENCY OF THE FUTURE We need to move away from saying things at people to doing things with and for people. Generous ideas can be larger than BIG IDEAS. pre-digital! Interruption! Image manipulation! Saying things at people! Intangible value! Perception brands are valued for what they āDOā not what they āSAYā ā£ Then - brands used to be a broadcast voice, unidirectional, with speciļ¬c messages and mediums used for delivery. post-digital! Participation! Value creation! Doing things for people! Tangible value! Behavior ā£ Now - brands are involved in conversations that are ongoing and require continual interaction.
- 9. Thought Starter - Discussion Paper AGENCY OF THE FUTURE What can we learn from Customer Engagement Agencies? āAgencies that focus on deļ¬ning customer-oriented business strategies and mapping them to tactics and execution. They help clients maximize customer proļ¬tability and optimize customer experiences by applying data and analytics to every interaction.ā Forrester, Customer Engagement Agencies, Nov 2012 We must be able to inform our strategies using customer intelligence and insight to maximize customer value.
- 10. Thought Starter - Discussion Paper AGENCY OF THE FUTURE What Customer Engagement Agencies are focused on... ā£ Deliver management consulting-level strategy! ā£ Inform strategy using customer intelligence and insights! ā£ Develop expertise in customer experience journey-mapping! ā£ Truly understand customer needs and behaviour! ā£ Increase measurement and predictive analytic expertise! ā£ Help clientās maximize customer value! ā£ Further develop cross-channel capabilities! ā£ Focus on understanding the interplay between channels! ā£ Driving customer value, not just marketing value! ā£ Campaign effectiveness does not = marketing success
- 11. Thought Starter - Discussion Paper AGENCY OF THE FUTURE 01 ALIGN DATASETS ! & DEFINE AUDIENCE Cycle drives real-time marketing through addressable channels RESULTS 03 CONTINUOUS! INTELLIGENT! OPTIMIZATION INSIGHTS BUSINESS! OUTCOME 02 SELECT CHANNEL! & SOURCES ANALYTICS
- 12. Thought Starter - Discussion Paper AGENCY OF THE FUTURE Hypothesis Hypothesis Brand experience activation process Customer Segments Purchase Occasion Activation ideas that can be implemented immediately. QUICK WINS Customer Insights ā£ Segments! ā£ Occasions! ā£ Applications! ā£ Platforms! ā£ Location Hypothesis Brand Experience! Activation! Ideas Ideas requiring additional validation due to cost and/or deviation from current core competencies. Product Category BREAKTHROUGH IDEAS Hypothesis Hypothesis Purchase! Location Longer term ideas that will ensure delivery of consistent brand experience. Channel Selection FUTURE GROWTH PLATFORM 3 Months 6-12 Months Ongoing
- 13. Thought Starter - Discussion Paper AGENCY OF THE FUTURE Thank You.