Unless you're socially isolating under a rock and didn’t get
the memo, it is no secret that the world of marketing, PR and advertising is
changing at lightning speed, with a major paradigm shift in the way agencies
function being visibly noticeable over the past 3 years.
In a Mad Men-esque ad world, the one that introduced most us
to the esoteric art of advertising, it used to be that things fit neatly into
categories as pretty as January Jones:
An ad agency created
ads and if they did media placement/buying, they placed the ads too.
A marketing agency or a digital marketing agency could do a
variety of things depending on their specialty ranging from brand identity to
perhaps creating your website, some paid advertising and maybe events and
activations to get the word out about your brand.
A public relations agency focused solely on media attention.
This used to be limited to pitching traditional media for articles, placement
etc. With the advent of social media, many of these rebranded as social media
agencies, managing their clients' online as well as offline personas.
As the social and creative web has become mainstream the
game has completely changed. Things are smarter, faster, cheaper as opposed to
dumber, slower and more expensive.
The happy divide between an ad agency, a digital marketing agency
and a social media agency has crumbled.
The digital marketing agency of 2021 is the Swiss Army Knife
of communications. Post 2020, with budgets thinning and retainers dwindling,
even these one stop shops are fighting to surving. So what then is the future
of marketing, PR and advertising agencies going to look like?
Here are some thoughts:
1. Jack Of All Trades
vs. Master Of Just One
The days of Mad Men are over. Big fat agencies are slowly
streamlining to cope with the new normal. Massive overheads, foosball tables
and conference rooms with glass walls full of hastily scribbled strategy drive
up expenses and create an environment that is but slow-moving. Slow to think,
slower to act and the slowest to react to changes in the market.
Sure, it is nice to have “everyone under one roof” for control
purposes, but now with more ways to do work virtually, a team of freelancers
can be assembled in a jiffy. Or a consultant who's worth ten interns.
Does it take more work on the digital ad agency end to do this? Absolutely.
The future is more about partnerships between highly specialized experts as
opposed to just more bodies.
2. Content Is King.
It's Creators, Kingmakers
It used to be that if you had a budget, you could just hand
over all of your marketing, advertising or social media requirements and sit
back and approve the magic.
The problem with this, and where we are going in the future,
is that smarter, faster, cheaper promotion and advertising requires
participation from the client.
The future is all about the client becoming a trusted
resource as opposed to a product pusher. This is where content creation comes
into the mix. By creating content ranging from blogs, to videos and even
podcasts for clients, agencies can help max out their value proposition to
clients. Also thanks to the democratisaiton of content, creating it is much
easier than before. It is time for digital marketing agencies to create as well
as promote their clients content.
3. Agents Of
Education
Teaching will be another model that will continue to take
shape. More specifically, teaching people and companies. Not keeping the secret
sauce secret. This means educating and enabling as opposed to controlling.
This means agencies/consultants, etc. will continue to create
their own content online and off. And in many ways, this content can be
monetized directly. Perhaps instead of clients, you have subscribers and create
a community. A membership site or a mentoring program.
The end result is part publisher and part digital advertising agency.
4. Not Outsourcing
Relationships
Let’s talk about the social media agency for a second.
Almost every agency offers social media services to their clients
But, what exactly is being offered and what should be
offered?
Can a social media agency assist with content creation? Can
an agency find relevant articles/other content in your niche to share on
Twitter, Facebook, etc.? Can an agency suggest people to follow? Can an agency
set up a Facebook page and Twitter account for you? Can an agency suggest
tweeting topics? Can an agency post content to your Twitter and Facebook
accounts? Suggest blogs and forums you should be participating in/on?
It's either yes to all the above or you should really
consider another line of work.
5. Respect New Media
Sources
We're not saying traditional media is dead, neither are we
sating the same about traditional advertising is dead.
But, there are some incredible opportunities online to
generate buzz, sales, trust and more that many agencies aren’t educated on.
There are blogs and new media sources with incredible
sponsorship and advertising opportunities that go beyond print ads. Tiktok,
what was once seen as a platform for buffonery, is now as important to
advertisers as Facebook or other media. Same with podcasts, we grossly
underestimated peoples penchant to listen intently to others talk.
Traditional media in many cases is like a one night stand.
It is hot, sexy and then it is over. Online media like content sponsorships and
their like are more like a long-term relationship. Online content is spreadable
and can increase in value over time since is stays up. Whether you're a digital
ad agency, a digital marketing agency or a social media agency, ignore new
media platforms and formats at your own perils. Early adopters who were once
laughed at, are now laughing their way to the bank.
Xebec has been around for the past three
decades, and we're always looking at the future with our commitment to creativity
and great service rooted firmly in the past. This is why we've adopted a
holistic model of operations that makes us part digital ad agency, part digital
marketing agency and also a bit of a social media agency, in doing so we've
always stayed at the cutting edge of brand communications and strive to walk a
holistic path without clients where one function perfectly complements the
other. From brand design to content creation and much more, bring your business
over to Xebec and get a taste of the future.
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