Fifty-Two Percent of Marketers Will Ask Agencies to Lower Internal Costs

By Bill Duggan

My two most recent blogs have reported on findings from the latest edition of ANA’s “Recession Survey.”

• “New ANA Recession Survey Results” on March 28.
• “Clients Asking Agencies to be Cost Efficient” on April 3.

These survey results have gotten quite a bit of attention. CMO.com, in fact, gave the recession survey the honor of “This Week’s Top Story.” CMO.com said:

Agency-related articles proved popular among CMO.com readers for this first week of April. Starting with our lead article, more than half of the respondents to a recent Association of National Advertisers survey said they intend to ask their agencies to find ways to cut their costs — which isn't to say marketers plan to cut agency compensation. It also doesn't mean they'll be outsourcing any less…. What all of this does mean, however, is a redefined relationship between CMOs and their agencies.

CMO.com featured a terrific blog from Anoop Sahgal of Adobe Systems, titled, “CMOs, Agencies Take Relationship To The Next Level” and highlights follow:

The digital age is driving marketing accountability to new heights. Marketers are more reliant on their agencies and other outsourced partners to help them succeed in a business landscape that has become far more complicated, as well as highly technology- and data-driven. All of that is forcing a new way to think about creative that goes beyond traditional norms.

Adding to the challenge are fundamental shifts in what is viewed as both creative and effective in engaging savvy consumers. CMOs and agencies alike have to rethink traditional ideas about a creative campaign and begin approaching and evaluating their initiatives as opportunities to create ongoing dialogues — sharing of stories — between a brand and its customers. 

Modern-day marketers require many new skill sets and new types of talents from their partners. CMOs and agencies can benefit from taking six factors into consideration when working toward building the right teams and expertise, as well as embarking on new digital marketing initiatives.

1. Learn how to manage and work with an extended network of talented specialists.
2. Demonstrate the value of every marketing initiative.
3. Become a great storyteller, not just a traditional marketer.
4. Think utility versus glitz.
5. Acknowledge that technology now drives marketing.
6. Keep in mind that digital marketing is more than just a new advertising channel.

Read the full blog here. Thanks for that perspective, CMO.com and Anoop!