How Agencies Are Putting Themselves Out Of Business And What We Should Do About It
Think the advertising industry is full of innovative ideas and future potential? Think again.
According to Michael Farmer, CEO of Farmer & Company and 25-year veteran advertising consultant, what was “once one of the most fulfilling and glamorous of industries has become a grim sweatshop for the people who do the work.”
Yikes.
Thus begins Madison Avenue Manslaughter, Farmer’s new book that outlines—in unrelenting, painstaking detail—the decline of the advertising industry and the tone-deaf agency executives that are leading their own businesses to the chopping block.
Last week, we were both were on a panel for Mediapost, discussing how fragile agency-client relationships have become. It was one of the most candid discussions I’ve been a part of. It’s not often people shoot straight about the reality that exists behind the well-groomed facade of Madison Avenue.
So how did this happen? How did America’s darling Mad Men go from rolling in it to barely holding on?
Check out my latest over at Forbes to find out and weigh in.
CEO 創新、技術、全球擴張和增長
9 年Brilliant Keenan! Great post...have shared with my network.
Brand Strategy & Innovation
9 年"Agencies of Return" -love it
Consultant at Teracomb
9 年I also believe that an industry which regularly measures itself on someone's else's (client) costs ("Billings") is totally asking for it.
Envisioning the Future | Org Culture | Employee Experience | Safety & Resilience | Human-Centered Design
9 年Now if we could just apply that kind of analytical insight re: brand marketing and growth to the public/non-profit sector, we might seem some interesting things happen: social marketing at its best. It happens, but it's seems to be rare.
Stealth Strategist for Leaders Transforming Brands + Building Data-Driven Assets | Global Awards + Legacy Prize Advisor | Founder REBRAND.com | Exec Producer REBRAND 100? Global Awards | Data Points Gold Author
9 年Great food for thought in your Forbes article, Keenan Beasley. From fees (preferably "investment") based on solutions to focus on results delivered, and new ways to analyze and measure those. I'd add that it's tough to solve a problem with the same group in the middle of it. Agency leadership and other ranks might benefit greatly from a talent pool that actually reflects the customers their client brands hope to reach. In our digital age, all businesses are virtually global, like it or not. After all, a fresh perspective can only come from a fresh perspective. Is it really possible for a particular demographic to connect with and reach all effectively? The current challenges you outlined broaden as brands strive for customers from various cultures and backgrounds.