Tuesday, April 28, 2009
Ad Agencies Taking Another One To The Chin
In an article released yesterday, eMarketer reported that a Harris interactive poll found that most survey participants believed advertising agencies possessed the majority of the blame for this current economic downturn. To be more specific, they thought ad agencies were selling products and services that the majority of the market could not afford.
As much as I often criticize the agency product and process, I have to admit this one is a far stretch. However, it does lead to a larger issue related to ad agencies - relevance. As the standard business model becomes more driven by quantitative factors, many industries may find themselves experiencing a drastic decrease in overall value, due to their inability to apply beneficial measurements to their clients. Many of you have heard that popular ads can often result in a drop in market-share. Of all the industries that may be affected, ad agencies may take the hardest blow, due to the "creative for the creatives" model that has been dominant for so long.