How Digital Disruption is Redefining the Modern Media Agency #agencypublisher
Nearly ten years ago, I read a paper that fundamentally changed my point-of-view on what a successful agency would need to become in the future. Written by Forrester, it spoke about how the advertising industry of 2008 was at a crossroads.
While we had not yet seen the emergence of companies that are now widely viewed as the disruptors of their respective sectors—companies like Uber, Netflix, and Tubemogul—we were in a business whose output was becoming less valuable to clients and ignored by consumers. The future for agencies could only be turned around if marketers formed real connections between clients and consumers. Or as Forrester posited, move from “orchestrating campaigns to facilitating conversations.”
Much has changed in our industry since then, but this line of thinking stuck with me. In fact, it inspired me to rethink and reshape the way Carat, the media agency I lead in the US, approached its work. Since then, we’ve restructured both our agency and invested in research capabilities that provide us with insight into how we can better understand our clients’ most valuable audience(s) in the context of the broader culture. And we’ve never looked back.
We do however, look forward. Once again, our industry is at a crossroads, as media continues to evolve at an ever-quickening pace, and technology brings new capabilities and challenges to our door. The predictions made by Forrester in 2008 were certainly prescient, and we are now largely living in that reality. In fact, a recent Harvard Business Review study revealed that media would be the industry most disrupted by the digital economy in the next 12 months. So what’s next?
Read full article on LinkedIn.