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March 08, 2005
In Search of a New Ad Agency Model
Whenever one starts on the topic of new media technologies and their impact on advertising, the knee-jerk reaction is to study what the effect is on the existing media 'providing' companies. I am often guilty of this. However, this is only half of the story because there is an entire sector of marketers -- the media 'buying' community.
In today's AdAge is a good article to remind us of that fact. It is entitled 'In Search of a New Ad Agency Model', Small New York Shops Scurry to Find Opportunity in Change.
In brief: it looks at new startups that are defying the '30-second-centric structure' and whose efforts are 'unencumbered by holding-company overhead.'
"Why should you care about these new kids on the block? Because the success or failure of these agencies will offer clues as to the future of the agency model, and because their existence and ability to win business despite rampant overcapacity in the marketplace speaks volumes about the state of the business."
This is something that should bring a smile to Hugh Macleod at gapingvoid. Here is what he had to say about the 30-second commercial last spring. Many of his hughtrain ideas start with the observation that the old ways of marketing are dead.
The reasons I find this article interesting are: (1) new forms of television like IPTV and VOD are eroding the effectiveness of the agencies buying traditional television, (2) on-demand television will require advertiser support if it is to grow large with ample available content, and (3) I personally know that no one (media provider or media buyer) are ready for the great challenges ahead of them to transact any of these technologies -- the infrastructure simply does not yet exist.
Any agency with a newer business model is one worth watching.
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