What a good article in AdWeek from a few weeks ago. Here are a few of the best quotes from the piece...
According to a new study by Accenture quoted in this article:
According to 70 industry leaders surveyed by Accenture, agencies have the most to lose in the new order, even more than broadcasters. When asked who would fare worst in the transition to digital advertising, 43 percent said agencies, compared to 33 percent who answered broadcasters. Cable operators were third with 10 percent. No respondents chose search companies or digital ad specialists.
Accenture interviewed 70 advertising "decision makers" around the world from February through April this year. Respondents included executives from agencies, media companies and technology providers.
The consulting firm found 50 percent of respondents believe digital media would be the primary form of content and advertising delivery in the next five years. Over 80 percent think it will happen within a decade.
In my opinion most importantly...
Advertisers are pessimistic they have a good grasp of the tools needed to operate in this landscape. Over 70 percent said the industry is not "technologically prepared for the resulting changes in performance measurement."
"People felt the complexity had grown over the last few years," Symmons said. "It's harder to target and track and develop campaigns."
From where I sit, and what I have always believed is if you do not have a grasp, the experience, or the in-house capabilities on how to best research, strategize, produce , execute, measure and repeat that process with the adjustments to improve the entire result partner with those that do. This is why the big boys like international Publicis, JWT, WPP, Dentsu, etc are gobbling up digigtal shops, search shops, etc. They see the writing on the wall and understand in addition to what they are experts in they can add a ton of value for their clients and themselves by either working with or bringing on board the experts, the experienced, the proven successful in this digital industry. Partner with those that have the knowledge and experience - set your pride aside for the progress of your client's return on their marketing and advertising dollars - after all you will reap the benefit of this long term as a wise partner who knows who best to bring in for certain types of projects (digital specialists) that will add value to an overall ad and marketing program. It is the reason my shop, The Basement, does not do print. If we have a client that wants print we partner with an expert, an experienced shop in print.
The full piece from AdWeek is here.