The Agency of the Future will have to 'Re-orient' and not just 'Reinvent'

With rapid technological advancement and increased societal adoption, the phrase "re-orient" has replaced "reinvent." And this reorientation would have to be continual with all subsequent agencies.

Consumers' interactions with brands are developing on a daily basis. For this digitally connected consumer, everything is just a 'tap', 'touch', 'click', 'like','share', or 'purchase' away. And their buddies are just a tap, touch, click, or WhatsApp message away! The process of courting a consumer has been cut to a few days, and so has the purchase time. As a result, reorientation is necessary in order to increase attention and speed.

What agencies and marketers must grasp is that the distinct boundaries that once separated the agency and the client are now dotted, and the culture will gradually have to become more collaborative. Marketers have started to see the importance of conducting real-time discussions and responding to the pulse of the client. If your salesperson can manage a client on the shop floor, why can't there be someone to deal with consumers online, and it's not simply up to your agency to publish responses? This age requires brands to be responsive. The customer is saying, "Talk to me and respond." I'm shouting out your name so I may receive some fame; please recognize me. Show the individuality of your brand". Can the agency now serve as a brand's face in these cases? Maybe, maybe not.

As a result, the re-orientation would require agencies to shed their conventional cloaks and get a true 'business' understanding rather than a 'brand' understanding.

The All-rounder vs. The Specialist

Traditionally, agencies have attempted to establish a "one-stop-shop" and have sought to go out and tell the public, "We do absolutely everything." Now, that strategy will be counterproductive.

In today's world of many platforms, multiple technologies, various customer contact points, and mature marketing channels, everything is becoming increasingly interconnected. This element necessitates a convergent media strategy, which is frequently better served by the inclusion of expert firms. There will be a shift away from a "generalist, know it all" mentality and toward a "specialist approach."

Today, we see the marketing team in the center, surrounded by a federation of agencies that specialize in various aspects of the marketing mix, such as advertising creative, media, digital, social, experiential, CRM, and so on. However, as time goes on, we will see an increasing number of companies hire a "lead agency," which is in charge of combining the services of a network of specialty agencies.  P&G's "Brand Agency Leader (BAL)" approach is the best known example of this.

Agencies will have to Implement Converged Media Strategy

Brands will increasingly seek the services of a Specialized Digital Consultant to develop a long-term strategic roadmap that aligns with company objectives and brand demands. The Client, Digital Consultant, and Lead Agency will work together to develop a fully integrated Digital Strategy that will encompass all marketing channels and maximize their respective strengths.

In the future, it would be impractical to have a search strategy, a paid advertising strategy, a social media strategy, an extra content marketing strategy, and other services. This strategy to developing sub-strategies will become unnecessary.

Convergence of Ideas and Technology Under One Roof

We've seen how 'Idea stores' and 'Technology shops' were once distinct entities, but not anymore. The lines are clearly blurring. There are numerous examples of IT consulting firms entering the market and acquiring Digital Agencies (Deloitte and Accenture acquired digital marketing firms in 2013 to form Deloitte Digital and Accenture Interactive; IBM has been involved in this area since the late 1990s, and their agency is called Interactive Experience). Sapient has a specialist section named Nitro.

Future Lead Agencies will also need to develop technological expertise and become technology consultants for their clients. Their function in this area would be to propose third-party tools, develop apps, and eventually manage several technological platforms for clients in order to fulfill the brand's customers and demands while also meeting the agency's reporting and collaboration requirements. In addition, agencies would need to be involved in the strategic decision-making of the corporations with whom they operate.

Delivering to the Client Versus Delivering to the End Customer

Until recently, Agency DNA has been hardwired to place the brand at the heart of everything it does. However, tomorrow's agency must prioritize the brand's consumers. This will need the establishment of "customer excellence cohorts" that will develop skills across all channels and departments, based on the premise that customers do not search for brands or firms, but rather for solutions to their problems.

A revamped account structure with the finest of Publishing, Design, Technology, and Analytics

The traditional "client servicing & creative team" organization will be obsolete. The team will be wider, with additional skill sets in place. Aside from account management and creative, we'll see community managers, content editors, data specialists, developers, channel gurus, and more.

Rise of New Positions

The data-driven account owner with business expertise is skilled at analytics and can take on the position of project manager. The conversationalist who demonstrates brand understanding may drive engagement and manage consumer relationships effectively.

The agile content producer, who can design visuals as well as create films, can handle data visualization and serve as an editor. The customer insight professional who can scientifically manage the massive volumes of customer data that businesses now have (produced from all sources and contact points) and conduct quantitative analysis to identify patterns and drive brands' content production.

These sophisticated responsibilities will be difficult to fill, and agencies will have to recruit, educate, and retain the individuals they place in these positions.