Exceptionally talented professional firms are distinguished not by what they do, but what they believe. Their work is unique because their beliefs are unique. They create dissimilar solutions because they have a dissimilar mindset.
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While no one can predict the future, one thing is abundantly clear regarding what it will take for agencies and other professional services firms to be successful in times to come: we need much more innovation infused into our offerings.
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There’s new money to be made in the agency business, but it lies in the white space of our business model – the unmet needs of today’s marketers. Unfortunately, most firms are too busy selling yesterday’s services to uncover and develop the solutions...
If there's more money being If there’s more money being spent in marketing than ever before, why is average agency income (and agency profit) declining? Let’s count the ways...
To help secure a successful future for your firm, consider where you fall on the innovation spectrum, inspired by the work ofClayton Christensen in The Innovator’s Dilemma.
Overdeveloped Services < ———————————————– > Underdeveloped Services
Advertising agency income “per unit of work” has fallen 40% during a steady 20-year decline. So reports agency consultant and advisor Michael Farmer, whose research demonstrates that agency staffs are being squeezed to deliver increasing workloads at a time when fees are declining faster than costs.