Hi Peter,
I agree with you -- we live in a splintered media world, with all sorts of formats and sources. I concede my use of "dinosaurs" is not necessarily accurate or fair. However, my feedback was not intended to imply anything related to search or social media. My point was more about innovation and progression. This is evidenced not so much by what the guys at the top say amongst themselves at a meetings of the titans, but by the execution of the people in the trenches.
Regardless, on the topic of search, Google today is the world's most valuable media company -- from a valuation perspective, as well from an attention-luring perspective. Primary and secondary stakeholders, including journalists, look to it more than any other single source to discover, inform and satisfy their intent. The inertia of aging agency business models, along with the liability of satisfying traditional revenues streams, is an obstacle to progression. I'm not representative of everyone (underscored by my company's start-up status), but it is the changing needs of our business climate that forced me to re-invest not in our agency, but internally, toward new competencies our agency (and most) concede they simply don't have.
Happy to elaborate offline, because I'd love your opinion.
Regards,
Max
Max,
It's hard to generalize about the entire agency business. Among the varied themes that arose at yesterday's forum, there clearly was a strong acknowledgment of the changed environment in which the industry now operates and a (refreshing) drive to invest in the tools and technologies needed to remain competitive.
Keep in mind that this was not a Search Engine Strategies or SxSW conference. The presenters were agency heads, CMOs and senior corporate communicators, not to mention a CEO of a large insurance company who tend to be less immersed in the machinations of social media than specialists on their staffs.
To your point about innovation, several of the speakers talked about how they have directed and supported their (younger) staff members to go out and try new things. What hasn't changed, however, was the notion that these new approaches create tangible business results.
Personally, I agree that many agencies cling to the top down model of communicating through the mainstream media filter. And, unfortunately, far too many have not broadened their offering to address the changed media, marketing and consumer behavioral landscapes.
But I also believe that MSM and blogger engagement remains (for now) one of a number of valid PR competencies for catalyzing conversations -- online and off.
Hi Peter,
It sounds like you spent the day with a bunch of dinosaurs! Or smart people who know they're going to retire, so they're holding onto doing things the way they know how...until they retire. Your gems (notes) reflect the ultimate agency and professional-service paradox: a lack of innovation because their incentive is to do what's worked in the past. I've often criticized ad agencies, but it holds true for most (not all) PR agencies: why don't you have a line item in your corporate operating budget for innovation?
Regards,
Max
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