Agency Lessons from Recessions

There is a flaw in this argument amp8211 if everyone follows the advice then SoV remains as is whilst the industry enjoys a boom period which we all know isn39t going to happenThe advice therefore only works on the assumption that most won39t follow itOne thing that39s missing is any discussion around lessons the organisations dispensing the advice can themselves draw from previous experiencesI have been around long enough to have worked through recessions going back to the 197039s I haven39t seen anything like the one that39s coming at us This one is unique for reasons I39ve tried to explain hereOne common factor though is that the agency sector seems to learn little maybe this time will be different it39s just that I doubt itWe are very quick to offer advice to others but like the cobbler whose children went without shoes we are less good when it comes to our own industryFor instance it is often argued that brands need to communicate their relevance even in these difficult times There are plenty of examples of this around now some good some cringeworthyAre agencies communicating the relevance of their services Are they stepping up to offer businesses general advice and guidance along the lines of say an Ebiquity or the management consultanciesCharles Talbot a digital sales head by background has started a useful service called Viral Knowledge not sure about the name mind you which aims to pull together lists of relevant webinars Earlier this week he had listed 60 such events from March 18th to May 19th under the broad topic of digital marketingThree of the 60 were from agencies amp8211 two from Ogilvy and one from Dentsu AegisI39m sure Charles wouldn39t claim that his list is definitive nor are webinars the only means to communicate of course and it39s quite probable that agencies are busy running sessions for their clients but it is a little odd that individual agencies are not more vocal kudos by the way to the IPA for all that they39re doing to promote advertising as an industry during this crisisThis would be a good time to remind the business community of why your particular agency is wellplaced to help them Raise your own shareofvoice in other words whilst your competitors are silentIn past recessions agency staff numbers dropped considerably hardly surprising given that reducing headcount is one of the few levers agencies have to reduce costsOnce the situation improves the numbers inevitably creep back up again often as a result of agencies adding new services This may not be the best approachIn bad times and good the focus has to be on excellent delivery of those services of greatest client value This may mean dumping inhouse offerings that are done better elsewhere by specialists It may also mean taking a long hard look at senior people not directly attached to the meeting of client needsThis can and will be painful but it would make a lot more sense than the kneejerk reaction which is to lose junior often very talented people on some misplaced 39last in first out39 principleThere will rarely be a better time to discuss with clients what they might expect from their agencies both now given the circumstances and into the future and to use this framework to openup a conversation on business termsAgencies can have these current and future expectations conversations themselves although it is often more revealing to use an external objective organisation There are plenty who offer this service including to be transparent BJampampAAgencies of all shapes and sizes are quick to advise their clients on how best to navigate their way through the present and future crisisHopefully this generation will prove more adept than their predecessors at plotting their own way throughClick the social buttons to share this story with colleagues and friendsThe opinions expressed here are the author39s views and do not necessarily represent the views of MediaVillagecomMyersBizNetamp160

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

Agency Lessons from Recessions

Author

Publish date

Channel

Brian Jacobs

"About That with Carl Mayer": Involved Media Connected Audience Fall 2024 Report (Episode 5) - By Carl Mayer

More Videos:

SUBSCRIBE FOR FREE MEDIAVILLAGE CONTENT | BECOME A THOUGHT LEADERSHIP CONTRIBUTOR

Agency Lessons from Recessions

Enjoying This Commentary? There's More to Love

Brian Jacobs

Stay in the know with more from MediaVillage

"About That with Carl Mayer": Involved Media Connected Audience Fall 2024 Report (Episode 5) - By Carl Mayer

Cookies