Why agencies must lead the technology charge – iMediaConnection.com

Article Highlights:

  • Agencies look to utilize new targeting technologies, but have not incubated or owned such technologies
  • When agencies build and retain audiences, they become distribution sources for their brands
  • Agencies must adopt unproven technology, rather than wait for brand buy-in

Countless articles have been written in recent years putting agencies in the hot seat to adapt their business models or die. Why? Never-ending budget cuts and the digitization of the marketing landscape have produced two key trends currently threatening the livelihood of the traditional agency:

  • Media has become digital, multi-channel, multi-platform, and decentralized. These elements are forcing media publishers to be more creative in how inventory is packaged and sold (e.g., bundling offers cross channels from print, online, to mobile). Furthermore, media companies are tired of losing revenue to agencies for the production of creative assets and are thus building and buying their own capabilities in house.

  • Innovations in technologies, from brand monitoring, audience targeting, and media planning and buying technologies, to social media and mobile content solutions, drive when and how brands connect with consumers. Many of these technologies are being developed outside of the agency ecosystem.

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