52 Marketing Trends found for Innovation / Other

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Is This the Beginning of the End for Trad Ad Agencies?

Trend Summary: US companies in-house advertising and communications units have multiplied at the expense of traditional ad agencies.

According to the USA's Association of National Advertisers, in 2008 just 42% of its member companies had in-house agencies. By 2013 however, that figure had risen to nearly 60%. These in-house units boast hundreds of staffers who create everything from print collateral and social posts to ...

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... big budget multimedia campaigns.

The Boston-based In-House Agency Forum [IHAF] serves the needs of this growing community of marketers via the delivery of thought leadership, industry insights and networking opportunities.

By 2014 IHAF's membership swelled from 150 to 250 companies and now includes heavy hitters such as American Express, Blue Cross Blue Shield, Boeing, Coca-Cola, HP, Lego, McDonald's, Nestlé and Raytheon.

One of the biggest advantages in having an in-house agency is its unlimited opportunity to learn from within - something external agencies are hard-pressed to do. Being part of the same company, marketers live and breathe the culture and the brand. The client's products are your products.

According to Marta Stiglin, a long-time member of IHAF's board of directors and its former chairman, one of the biggest misconceptions is that IHAF cannot attract and retain the same calibre of strategic and creative talent that external agencies can.

Says Ms Stiglin: "That simply isn't true. What's essential when staffing any type of organisation, internal or external, is that you hire the best and brightest people you can. If you hire "B players," you'll end up with a "B team."

Read the original unabridged AdWeek.com article.

[Estimated timeframe:Q4 2015 onward]

All data sources are attributed with links to the original insight. The insight is then summarised and, where appropriate, enhanced with additional information.

Source: AdWeek.com
MTT insight URL: http://marketingtrendtracker.com/article.aspx?id=6794

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