What should advertising agencies do to remain relevant in an ever-changing industry? School CEO and founder Max Lenderman provides a three-part answer to this existential question.
CHAMPION THE STRATEGY
To compete with consultancies—and actually continue to exist—ad agencies need to focus on strategic solutions as much as creative ones and distill complex analytics into insights that can be activated across all touch points above and below the line.
STRIVE FOR INDISPENSABILITY
I think specialization is going to become the way forward for small and mid-sized shops, which will need to carve out a distinctiveness and a core competency that will be sought after by clients rather than optimistically pitched in a sea of sameness. Agencies need to find their one thing and go all-in on it.
BE MORE HUMAN
Advertising from now on should not be seen as a creative product but instead as an amalgamation of consumer experiences. All creative work should answer the fundamental question of “Why would anyone care about this work?”