If Your Agency Is Not Consulting, Then What Is It Doing?
For marketing agencies to survive, they must start looking more like the consultants.
This is one of the bigger themes that seems to be cropping up lately in the marketing industry. It’s happening for a bunch of reasons. There is a large push from brands to develop in-house marketing capabilities. This is not only a smart move, but a strategic one as well. For years, marketing was seen not as a profit centre, but an expense. Marketing was the place where the business went to spend its dollars on getting attention and acquiring customers (beyond sales). Now, it seems like many businesses are (rightfully) following the sage thinking of management legend, Peter Drucker:
“Because the purpose of business is to create a customer, the business enterprise has two-and only two-basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.”
A very thought provoking article. Next time you have a senior meeting pass this out ahead of time and put it on the agenda. Both you and your clients might be delighted.