Comments on: The future of advertising agencies: learnings from Forrester http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester Marketing ideas for navigating a consumer driven world Fri, 10 Feb 2012 03:00:20 +0000 hourly 1 http://wordpress.org/?v=3.3 By: NewBusinessHawk http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester/comment-page-1#comment-8316 NewBusinessHawk Wed, 05 Oct 2011 12:21:05 +0000 http://edwardboches.com/?p=3626#comment-8316 Back in 1996 I wrote this as part of a marketing study for one of the large holding companies: As the number of messages in the marketplace rises exponentially, the perceived value of each message has diminished over time. New technologies have not only reduced the value of each message, but also provided each consumer with greater control over the messages they receive. This newly created consumer power will continue to drive the marketing communications industry. Consumers can now dictate when, how and where they will listen to marketing messages. The net effect of this empowerment on the industry is substantial: 1) The proliferation of mass media is giving way to alternative media outlets and vehicles, absorbing greater proportions of client marketing budgets 2) Agencies who focus on traditional mass media are threatened with extinction because they will be able to add little value to the planning, buying and execution process 3) Agencies need to take a much stronger leadership role in integrating with clients and their end customers 4) Agency professionals need far greater access to information on their target audience and must know how to use it effectively 5) Traditional compensation and commission schemes will continue to evaporate in favor of project, performance or consultative-based value creation Funny, the more things change, the more they remain the same! Enjoyed reading this and look forward to seeing the rest of the study! B Back in 1996 I wrote this as part of a marketing study for one of the large holding companies:

As the number of messages in the marketplace rises exponentially, the perceived value of each message has diminished over time. New technologies have not only reduced the value of each message, but also provided each consumer with greater control over the messages they receive. This newly created consumer power will continue to drive the marketing communications industry. Consumers can now dictate when, how and where they will listen to marketing messages. The net effect of this empowerment on the industry is substantial:

1) The proliferation of mass media is giving way to alternative media outlets and vehicles, absorbing greater proportions of client marketing budgets

2) Agencies who focus on traditional mass media are threatened with extinction because they will be able to add little value to the planning, buying and execution process

3) Agencies need to take a much stronger leadership role in integrating with clients and their end customers

4) Agency professionals need far greater access to information on their target audience and must know how to use it effectively

5) Traditional compensation and commission schemes will continue to evaporate in favor of project, performance or consultative-based value creation

Funny, the more things change, the more they remain the same!

Enjoyed reading this and look forward to seeing the rest of the study!

B

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]]> By: NataliAlinskaya http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester/comment-page-1#comment-7248 NataliAlinskaya Wed, 02 Mar 2011 16:41:52 +0000 http://edwardboches.com/?p=3626#comment-7248 Hello friends,this is a nice site and I wanted to post a note to let you know, good job! ThanksBest regards, Natali, CEO of <a href="http://www.iscsi.name">storage area network iscsi</a> Hello friends,this is a nice site and I wanted to post a note to let you know, good job! ThanksBest regards, Natali, CEO of <a href=”http://www.iscsi.name”>storage area network iscsi</a>

]]> By: Your employees are your brand « Changing Behaviors http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester/comment-page-1#comment-6101 Your employees are your brand « Changing Behaviors Thu, 30 Sep 2010 13:53:07 +0000 http://edwardboches.com/?p=3626#comment-6101 [...] In February, Forrester Research released a study about the future of advertising. Edward Boches, Chief Creative Officer at Mullen, blogged about the report. According to Forrester, consumers trust consumers more than they trust brands, and 50 percent say that brands don’t live up to their promises. (The future of advertising agencies) [...] [...] In February, Forrester Research released a study about the future of advertising. Edward Boches, Chief Creative Officer at Mullen, blogged about the report. According to Forrester, consumers trust consumers more than they trust brands, and 50 percent say that brands don’t live up to their promises. (The future of advertising agencies) [...]

]]> By: Bill http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester/comment-page-1#comment-5590 Bill Thu, 29 Jul 2010 06:24:08 +0000 http://edwardboches.com/?p=3626#comment-5590 I think people do look for honesty in advertising. Dishonest companies hurt the ones that work hard to satisfy their clients. I think people do look for honesty in advertising. Dishonest companies hurt the ones that work hard to satisfy their clients.

]]> By: Consumers can control advertising messages | Creativity_Unbound http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester/comment-page-1#comment-4853 Consumers can control advertising messages | Creativity_Unbound Wed, 19 May 2010 00:13:19 +0000 http://edwardboches.com/?p=3626#comment-4853 [...] Forrester reported that 67 percent of all consumers think there’s way too much advertising. A staggering 95 percent [...] [...] Forrester reported that 67 percent of all consumers think there’s way too much advertising. A staggering 95 percent [...]

]]> By: Parker Stoner http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester/comment-page-1#comment-4251 Parker Stoner Wed, 31 Mar 2010 15:35:12 +0000 http://edwardboches.com/?p=3626#comment-4251 Edward, Great post. Excellent suggestions on translating the foundations of the research into actions for agencies to take. Completely agree with the points regarding moving beyond campaigns and WOM reigns again. I agree with your point about mastering new technologies quickly, but think that the advice to work on the re-invention of print ads on the iPad goes against the entire thrust of the Forrester report. We should not be looking to reinvent "print ads" on the iPad. That is a prescription to use the latest digital tool for more of the old push marketing. Instead we should be looking to create new, powerful customized consumer experiences on the iPad and other tools. Edward,

Great post. Excellent suggestions on translating the foundations of the research into actions for agencies to take. Completely agree with the points regarding moving beyond campaigns and WOM reigns again.
I agree with your point about mastering new technologies quickly, but think that the advice to work on the re-invention of print ads on the iPad goes against the entire thrust of the Forrester report. We should not be looking to reinvent “print ads” on the iPad. That is a prescription to use the latest digital tool for more of the old push marketing. Instead we should be looking to create new, powerful customized consumer experiences on the iPad and other tools.

]]> By: Mark Burgess http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester/comment-page-1#comment-4210 Mark Burgess Mon, 29 Mar 2010 03:17:48 +0000 http://edwardboches.com/?p=3626#comment-4210 Edward, Very interesting. In particular, "adaptive marketing" as the new model with everything powered by digital right on target. Ad agencies "creativity" will lead their future. Thanks, Mark Edward,

Very interesting. In particular, “adaptive marketing” as the new model with everything powered by digital right on target. Ad agencies “creativity” will lead their future.

Thanks,

Mark

]]> By: keith Borshak http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester/comment-page-1#comment-3959 keith Borshak Fri, 05 Mar 2010 21:40:20 +0000 http://edwardboches.com/?p=3626#comment-3959 Great post Edward. Reading your blog regularly has made me really dig in to what's happening in our business with more rigor. Thanks, Keith Great post Edward. Reading your blog regularly has made me really dig in to what’s happening in our business with more rigor.

Thanks,
Keith

]]> By: Carolyn Goodman http://edwardboches.com/the-future-of-advertising-agencies-learnings-from-forrester/comment-page-1#comment-3958 Carolyn Goodman Fri, 05 Mar 2010 20:42:26 +0000 http://edwardboches.com/?p=3626#comment-3958 Discover, observe, dissect what works, experiment. Those are the cornerstones of direct marketing. Too bad most DM agencies missed the boat on shifting to and owning the space in the digital world -- which is also what made them irrelevant. Great findings and summary... thanks for sharing. Discover, observe, dissect what works, experiment. Those are the cornerstones of direct marketing.

Too bad most DM agencies missed the boat on shifting to and owning the space in the digital world — which is also what made them irrelevant. Great findings and summary… thanks for sharing.

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