The creative and digital sector is experiencing a seismic shift, one that’s been developing for sometime and one that will need agency leaders to give real focus in order to survive and thrive..
We work in an industry with certain traits..
Agencies are generally started by creative entrepreneurs and not commercial people, the barriers to entry are non-existent so there’s plenty of low cost competition, salaries are high – especially for some jobs, there are no industry standards or codes of conduct, there are an awful lot of agencies saying the same thing and from a client’s point of view it’s often difficult to see where the value lies or the difference between an expert agency or a ‘jack of all trades’.
When you add the fact that many of the traditional agency activities are becoming increasingly commoditised or taken in house, budgets are seemingly under pressure and technology developments are gathering pace you start to see why so many agencies are finding it difficult to see the way forward.
It’s hard to see a future for a lot of agencies, those selling without a clear value proposition will continue to see a race to the bottom in terms of price and inevitably, there will be an increasing number of closures – some may re-open again but without fixing the underlying problem will close again soon enough.
And those with some substance will need to get your shit together..
The challenges are no greater than in most industries, but are you as well prepared to deal with them I wonder?
You can however do several things to give yourselves the best chance of succeeding;
There’s a ton of detail that lies behind each of these points but it’s detail you need to attend to in order to give yourselves the best chance of succeeding in the future.