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The New Mad Men: Evolving the Agency Model

Trends and Insight 319 Add to collection

Warren Marenco Chase, chief operating officer at Firewood, shares his excitement about a path forward driven by partnership

The New Mad Men: Evolving the Agency Model

I’ve been in the business of marketing for over 25 years, and I never wake up and say, “I know everything there is to know about marketing.” Every single day I’m humbled by the fact that you can learn as much from someone who’s been in the industry for 25 years as from someone who’s 25 years old.

But one thing is true: the business of marketing is fueled by innovation, creativity, and transformation. However, the leading players in the industry often fail to catch up to their clients’ needs—mostly because they spend too much time defending ways of doing business that have worked in the past, rather than pushing for disruptive and more agile ways of bringing value to their clients.


From agency to in-house to somewhere in the middle

I started my career in advertising at one of the most awarded agencies in the world, BBDO, where I spent more than 20 years leading some of the world’s most beloved brands, working across more than 60 global markets. During my time there, I learned that creativity is at the soul of marketing. A powerful insight rooted in a universal human truth can inspire a unique and compelling idea that—if executed brilliantly—creates a powerful, sometimes magical, connection with consumers that builds trust and loyalty. I also saw firsthand how the power of diversity can have a big impact on the work. And not just diversity in terms of ethnic and cultural representation, but diversity in terms of thinking and skill set.


A changing industry

We are at an inflection point, clients and agencies alike. The pace of technology is accelerating, pushing us to market faster and to be in front of our audiences more frequently with relevant messaging. It’s no longer a one-size-fits-all approach.

Content is everywhere. It’s no surprise that marketers have a lot more responsibility and face bigger challenges to get their messages out on so many more channels and in more relevant ways.

The bottom line is that with all of this comes the pressure for efficiency. We’ve got to deal with the speed and the sheer amount of content required—and it all has to be cost effective.


The path forward

Firewood embraces a new paradigm that is driven by partnership—where client and agency move forward together as one to focus on quality, speed, and value.

Quality: Having higher expectations around better-quality work grounded in insights and delivered on multiple channels flawlessly is a requirement. Agencies need to be even more aligned and in lockstep with their clients. Things are moving too fast, expectations are higher, and there’s no extra time to waste.

Speed: Consumption of information has changed, and consumers and businesses alike are looking for content that’s current and relevant, requiring fast turnaround times and an always-on marketing mentality. The days of having months to create concepts are gone. Clients not only want the best creative campaigns that deliver impact, but they’ve also become incredibly impatient. Everything has to be instantaneous. And, if it’s not instantly fabulous, it’s gone in a second.

Value: Marketing teams are constantly being pushed to be more efficient and to deliver content in faster increments that is not only of the highest quality, but is also delivered more cost effectively. Yes, why can’t an agency deliver more for less? Seems like they should, otherwise they’ll be replaced by someone who will.


The new model is partnership

The model Firewood uses bridges the gap that has long kept clients and agencies apart. It brings creativity, diversity, and partnership back to the table.

Earlier this month we announced that we are merging with MediaMonks, the digital content arm of the S4 Capital family. With S4 Capital, we found a visionary in the digital advertising and marketing space. Their strategy is to build a digital-first, integrated services business in three areas: first-party data, digital content, and digital media planning and buying—with a focus on speed, quality, and value. This will allow Firewood to enhance our capabilities, accelerate growth, and bring our model to more clients and more businesses around the world.

I could not be more excited for what’s to come.

A new era of Mad Men—or really, people—has begun. The truth is, though, it’s been going on for a while now. The rest of the industry just needs to catch up.


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Categories: Business Services, Marketing

Media.Monks, Tue, 29 Oct 2019 01:59:15 GMT