The old agency model is no longer relevant to the more sophisticated advertisers and consumers in this modern age.
An advertising agency is a service based business that plan and implements advertising campaigns for clients through the use of research, creative ideas, media planning and buying. Traditionally, they produced TV commercials, radio commercials, Online advertising, out of home advertising and mobile advertising.
New technologies and accessibility to information have changed how people consume media and connect with each other and it has also enabled brands to fill different roles apart from their physical products and services. The new agency model is all about getting the right messages in front of the right people to ensure that the advertisers are reaching the right customers. Advertising agencies see the need to create images and messages that connects people to brands even after the ad is over.
In 2015, since the old agency model does not work anymore, what are agencies to do to keep up on the race to be in front of as many eyeballs as possible and ensure that they are helping clients reach the right costumers? Sometimes this can be easier said than planned. With so many choices of traditional media (TV, newspaper, magazines, radio, outdoor boards, etc.) and digital media (websites, email, blog, social networks, etc.) the agencies need to embrace interactive and nonlinear messaging and incorporate creative solutions. In this new world, agencies have to get used to the idea that game changing ideas come not only from the creative storyteller but from the software developer as well; great ideas embrace data and technology and create immediate results in real-time.
A contemporary agency that wants to remain relevant has to adapt because the changes will not stop, they have to add tools and analytics capabilities to determine what works and what is wasted to ensure that dollars aren’t going into a cyber black hole, never to be seen or clicked.