‘Shit is going to get serious’: Marketers say how agency life will evolve in 2024

Macro outlooks from government agencies are mixed. IPA’s Bellwether report last week suggested there was at least some appetite among customers to spend, but around the same time S4’s Sir Martin Sorrell said: “We do not expect to see any macroeconomic improvement in 2024. I haven’t,” he declared.

So, is it optimism or pessimism? In any case, how will these big trends translate into changes at agency studios around the world? We spoke to the experienced marketers at The Drum Network.

Roland Gurney, Treacle Founder: “Agencies will continue to evolve towards providing strategy and consulting. As delivery becomes more automated and commoditized, they will be driven to sell thinking, not just execution.”Advanced Stakeholders will need to become billable again, driving increased personal branding as leaders become the visible brains behind the business. Sales and new business personnel will also need to adapt Some shops are considering commercializing their strategy and consulting offers to make them more specific. Simply add the word “strategic” to your message and hope it works. Some people. Probably not. ”

Sarah Ogden, Managing Director, Team Lewis UK: “Risks are rising. War is looming. Corporate fatigue is the new epidemic. Motivation is shifting from purpose back to money. In a world where marketers are less willing to play it safe.” It’s increasing. Proving (impact and business benefit) with every penny is positioned as the way to unlock potential. But data doesn’t necessarily save you. The future of agencies is about owning a new dawn of creativity and storytelling. Behind every failed business plan is a poorly executed vision. Behind every failed innovation product pipeline is a team that lacks passion, emotion, and a reason to care. Behind every financial crisis is a pernicious decline in trust and community. A creative agency can’t just exist to make things look pretty or “cool.” Polish your company’s skin. Decorate your corporate values. Or cover up corporate scars. Yes, creativity can be disruptive, but it can also create positive connections that move mountains. ”

Niall Dowling, Atomic director: “We learn to sing for dinner again. Funding is low, clients and end customers are (understandably) a little more skeptical and a little harder to convince. Until 2009 Anyone who has worked there knows the feeling: Influencing skills are highly valued. In B2B, it’s more important than ever to think seriously about buyer motivations (or lack thereof) As the bubble blows out of the tech market, old tactics for creating demand feel increasingly hopeless. Agencies that can bring something new to marketers’ understanding of what’s going on in the world are , stock prices will rise with CMO dissatisfaction.”

Hilary Gray, Associate Director of Group Operations, Propeller Group: “2024 will be a test year for agencies that mandated return-to-work policies in 2023. As the job market cools, there may be a temptation to cut back on policies focused on culture and flexibility. Yes. But this is a false economy and a strategically wrong move. Prioritizing your employees will have huge benefits for productivity, engagement, and loyalty. Employee happiness in 2024 must be a top priority.”

Ben Fox, Chief Executive Officer, Fox Agency, said: “It’s going to be tough. Agencies will have to do more or face the consequences. The role of the B2B CMO is evolving. There’s no turning back. The focus is on going beyond, driving growth and impacting opportunity and revenue. For CMOs, this means enormous and ever-expanding authority, with great expectations and pressure to perform. Naturally, they will demand more from their agency partners. Agencies that still operate purely as “enforcers” will be left behind. Against the backdrop of a challenging global economy, general market uncertainty, the continued search for marketing and sales alignment, changing audience demographics, and ever-expanding communication channels, successful agencies will rely on creativity. , an agency that delivers reliable performance across the three C’s of commerciality. , we also provide consulting services. ”

Julian Sowerby, CEO of Don’t be Shy: “The days of sniping and sneering at competing agencies are long gone. No more lamenting lost pitches, financial hardship, staff poaching, etc. B2B agencies (unofficially There is a common focus on helping B2B marketers help themselves (and creating more projects for agencies). He offers advice to marketers on how to get the board excited about a campaign. On branding and securing budget for long-term projects. On positioning marketing as an enabler of sales success. Making a real difference. On investing in martech. The B2B marketing industry is looking to improve the quality of marketing and ensure visibility for marketers within organizations. There is no time for cut-throat competition.”

Tommy CEO Chris Edwards: “Standing still as an agency has never been such a risky move. Where once you may have been able to double down on a particular specialty or expertise, clients now need more than that.” Services are no longer a neat list that fits neatly into a slide in a credential deck. They are constantly changing, evolving, dipping in and out of each other. Agencies need to move away from their reliance on one-dimensional campaigns as they demand truly distinctive campaigns.”

James Kirwan, Programmatic & ATL Account Director at Tug: “The biggest change in agency life will be the evolution of collaboration between agencies. The industry is undergoing a massive shift in capabilities, particularly in targeting and measurement, accelerated by the deprecation of cookies in Chrome. We have seen relationships between media, technology and creative agencies become more established and collaborative, with the necessary Sharing insights, results and data opportunities has become essential.”

Jenny Edwards, Redpill Feature Manager: “Since the pandemic, agency life has evolved, going through remote work, “the big drop,” and a hybrid work-life balance. We need a deeper understanding of how teams like to work. Attracting and retaining different groups of workers has also evolved in an era that Henley Business School coined the “omniployment” era. A one-size-fits-all approach will no longer meet the diversity of employee preferences. Focusing on the individual is key to retaining and attracting top talent. Providing opt-in benefits, making work flexible while maintaining important relationships, and ensuring transparent communication and systems are some of the tools at our disposal. ”

Giles Marshall, Rawnet Commercial Director: “What I’ve seen change the most is the ability to shape each engagement with each client. A few years ago, agencies had their own processes that started with discovery and ended with delivery. Today, clients They don’t care so much about what the store’s processes are; they care about how quickly and efficiently that agency integrates with their business and makes an impact (while complementing their own structure). They are interested in how they can start giving. This is because budgets and investments are under more scrutiny than ever before. They want a solution that completely closes the gap. Yes , they want people with the right expertise, the right strategy, the right commercial thinking to drive their companies forward, but also the ability to adapt so their investments are as efficient as possible. I am.”

Simon Hearn, APAC Distillery Managing Director: “Independent agencies will need to build stronger alliances to better complement their arsenals and offerings. Client budgets (and teams) are shrinking. One-stop agency solution. The need for will increase as we look for cost-effectiveness. The challenge for agency leaders is how this works behind the scenes from a customer service and operational process perspective. We are collaborating more than ever with our influencer, PR and performance media partners to co-propose and collaborate to make our clients’ lives easier.”

Emma Clayton, HSE and Wellbeing Manager, Search Laboratory: “This year we need to put even more emphasis on sustainable client work. Consumers are increasingly buying from brands with a meaningful purpose and a focus on sustainability, and customers are becoming more aware of the world around them. We are more keen than ever to partner with agencies that actively consider how digital marketing agencies can make their digital activities more sustainable and continue to have a positive impact on society. It’s important to start learning. It’s not just about being a sustainable agency, it’s about how to make our clients’ campaigns more sustainable.”

Natasha Bowyer, Insight Strategist, Siegel + Gale: “In the post-pandemic work environment, employers are beginning to recognize the importance of meeting the needs of their employees. Employers are stepping up measures to comply with diversity and inclusion, as well as aligning their brands with excellence. We are committed to making ourselves more attractive to talent (and retaining our current talent). Investment in professional employee branding research is increasing, with a focus on brand-driven change and a focus on client will now have a thorough understanding of their brand to ensure it aligns with their vision, values, and purpose. They will also go the extra mile to understand DEI and B (belonging). Brand champions and role models give our clients the tools to give their employees a voice. Champions beget champions.”

Amy Pagano, Global Head of Talent Acquisition, VML: “The biggest concern is the work environment, with hybrid working arrangements becoming established (though remote working arrangements are not as prevalent as they used to be). I can see what you’re looking for. want We plan to return with a hybrid arrangement. Face-to-face learning and collaboration with your team is lost when you are virtual-only. There is a lot to be gained by working together, but it also allows people to enjoy the life balance of WFH. Meanwhile, AI will require new skills and reshape some roles. The World Economic Forum announced that AI will create 69 million new jobs globally over the next five years. There will be a focus on upskilling and reskilling the internal talent pool to fill open roles. ”

Paul Button, CEO of iCrossing UK: “We anticipate a shift in agency business models, from providing creative and media services to implementing marketing and technology solutions that transform the customer experience. From commoditized services to more valuable marketing solutions. Innovation is at the heart of this as we evolve our delivery and reward models. Regular upskilling and staying ahead of the curve is key, valuing the combination of skills to deliver market-leading solutions. (while also learning how technology can help people be more efficient, reduce time on repeatable low-level tasks, and invest) and bring it back to higher-level strategic thinking ). There will be new competition for talent as problem-finding takes precedence over problem-solving. Teams with greater diversity of thought, fewer silos, and more “time together” will be able to reach their clients’ largest Find and resolve problems faster. ”