Ad Agencies Can Survive . . . IF . . .

Filed in Sharisax Is Out There 1 comments

. . . if they follow this advice from the Forrester Research group [independent research company that provides pragmatic and forward-thinking advice to global leaders in business and technology].

Noted marketing blogger Edward Boches wrote about THE FUTURE OF AD AGENCIES from the Forrester point of view in a recent blog article.

As a long-time teacher of advertising to college students, I threw out all my textbooks last year [for which I was applauded by Seth Godin], and I now depend on Twitter to send me links on Advertising’s Future.

Here’s what the agencies MUST DO:

1. Understand HOW and WHERE to engage Today’s Consumer . . . and coach their clients to get engaged.

2. Because consumers trust consumer more than brands, companies need to mobilize their fans and followers to be the organization’s cheerleaders.

NOTE: Consumers are now the “creators” and “sharers” and “distributors.”

3. LISTEN. LISTEN. LISTEN: 3.5 billion brand conversations happen every day.

4. Firms must be more honest and authentic: (a) only 5% of people say they believe ad claims and (b) half of consumers say brands don’t live up to promises.

5. Forget MASS anything; it’s all about customization.

6. Learn Digital or Die

7. Measure as much as you can: learn analytics and USE them.

8. Social media does not promise to do everything; there needs to be integration with traditional vehicles of communication, but “pushing” tactics don’t work. It’s now all about Inbound, i.e., the customers pulling in a company’s message.

9. Successful agencies will think more about community than campaigns, learning to crowdsource.

10. Clients need IDEAS, INTERACTION, and INTELLIGENCE.

Did we forget anything?

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Posted by Shari Weiss   @   27 February 2010
Tags : , , , , ,
Comments
Mar 4, 2010
12:27 pm
#1 Liz Looney :

Hi Shari,
As a Marketing graduate, I could not agree more with these 10 fundamental “must do’s” for survival.

As stated by rule 3, it is vital that ad agencies listen. Far too often do I see ads that state how I can benefit from the product, but I often find myself wondering if the ad agency actually listened to consumer’s needs or if they guessed what today’s consumers wanted.

Additionally, I could not agree more with rule 4, be honest. I am tired of the vast deceptive advertising in today’s culture and want a product that actually does what its supposed to do. I want to know that I can count on a particular brand because of the “trustworthy” image I have gained as a result of its usage.

Thanks for posting these helpful tips!

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