Advertising, we have a problem.
The agency industry is unlike any other. People in other industries don’t provide their would-be clients with “spec work” for free. So why are agencies expected to think for free when pitching for a new account? It’s a topic that strikes a chord throughout the industry with an ongoing debate over the question of should agencies be paid to pitch?
The agency space is constantly evolving into more diverse and complex agency operating models and more numerous remuneration approaches. As such, marketers have various models available to them when searching for a best-fit agency partner.
Whether you are a CMO at a global company or an account manager at an agency, marketers all around are feeling the pressures brought on by increased industry complexities.
According to the latest study by ID Comms in partnership with the 4A’s released last week, U.S. advertisers are failing to get the most value from media pitches because of flawed processes and lack of communication.
Successful client-agency relationships hinge on equitable and appropriate compensation as much, if not more than on open and constant communications, clear goals and strategies, and sound stewardship of the relationship.
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