In an era where customers are determining the rules, agencies are faced with the challenge of maintaining their competitive edge; brands want to work with fast-paced, data-driven agencies that understand their needs and customer journeys across multiple channels and devices.
Needless to say that the media agency landscape has very much changed course over the past five years, in multiple ways. Brands are also asking for more and more control of the media buying element of the digital advertising world, and because of this agencies have had to reshape how they can truly add value for clients. Data and tech teams have grown in size, to be able to work with the incredible volumes of data that exist within the marketplace, as part of an overarching strategy to deliver more value to brands and clients.
Whilst it has been quite some time since just buying and selling ad space was the model of a media agency, more recently there has been an upturn in requirements for a more open approach. Pitches are becoming more difficult, clients more demanding, and consumers more guarded with their privacy. The game has changed, and so the agencies must change with it.
We might look at the advertising industry as a flowing stream – if agencies stay stagnant within the stream, they will eventually be swept away with it. The process can only evolve if the swim upstream begins, and this isn’t easy.
Moving agencies beyond monthly and weekly reporting
While keeping their daily business up and running, agencies need to transform the way they are working and, at the same time, deliver more value for their clients. Monthly and weekly reporting is no longer sufficient – agencies know they need the right technology to have a holistic view and deliver continual monitoring reporting and their clients want to know that their campaigns are continually reviewed and enhanced using the mountains of data available. And if that was not enough, different stakeholders require different views on data.
In part one of the Strategic Playbook for Data-Driven Agencies, Adverity, one of the leading end-to-end marketing analytics platforms, analyzes the implications of a shifting agency landscape and gives some insights on how agencies can continue to scale their business in this rapidly changing environment.
Read more on how you can future-proof your agency and:
- Scale your business with Marketing Intelligence
- Build a data strategy to stay ahead of the curve
- Master the end-to-end data management process