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 ultimate goal of a PR agency is to effectively tell a story. And in today’s landscape, the best-in-class PR agencies are those that know how vital it is to shift from one-way communications to two-way (co-creation) conversations that help marketers see outcomes rather than measuring just outputs. But finding the right agency to tell your story can be time-consuming and an all-around difficult process. Based on the agency’s connections, experience, and approach, the strategies they use can be vastly different.
The process of finding the right agency can be complex and time-consuming, as a universe of potential agencies must be filtered down to find the right partner based on various criteria.
“The agency model is broken.” “Agency compensation is broken.” “Agencies must change or risk becoming defunct.” If you read the press, one might think the marcom industry is heading straight for Armageddon.