Sean Corcoran, Vidya Drego and I just published a report on The Future Of Agency Relationships. The report is written for CMOs and includes a call for marketing leaders to lead agency change to survive in the Adaptive Marketing era. We posit that marketers should assess their partners using three I's — ideas, interaction, and intelligence — to select the right partners. Sean posted a blog post this morning on the Marketing Leadership blog, and Ad Age featured the report on today’s front page.
Today we released the report "The Future Of Agency Relationships" covered in AdAge today, in which we set out on a journey to answer the question: what is the role of agencies in the new marketing landscape? After over 50 in-depth interviews with marketing leaders, interactive marketers, procurement teams, agency leaders and industry organizations, one conclusion has become very evident - marketers must lead agency change. Virtually everyone we interviewed recognized that marketing is experiencing drastic changes, with interactive and digital technologies beginning to replace mass media as the foundation of marketing. At Forrester we call this the "Adaptive Marketing era" and it requires marketers to take a more flexible and always on approach to marketing due to the two-way communication that is now visible between consumers and companies. While most agencies are taking at least some steps to reinvent themselves, they can only go as far as their clients allow. And while many marketers are demanding agency change one moment, they’re still asking where their 30 second spot is the next. Marketers won’t see real change in the agency landscape until they begin to apply a new set of criteria to their agency partners.