My reporting shows that there are companies, leading companies, planning to do away with virtually all of their ad agencies and deal directly with their consumers. They say that most ad agencies are so out of it that they are wasting huge sums of money. These companies say they can hire the best story-tellers in the world themselves, better than the creatives employed by ad agencies. They say that ad agencies don’t know where their real customers are and put their ad dollars in spaces where their customers aren’t. And they say that social networking and other social technologies can now allow them to connect one on one to their customers without having to go through an intermediary. Finally, they say that online metrics are proving to be just as squirrely as network TV metrics. Faux measurement measures falsely.
I can’t say who these companies are but they are serious. And for good reasons. Check out this JWT and Adweek urvey on the jaffe juice blog. What does it show? An overwhelming percentage of people in the survey feel that products are overhyped, there’s too much advertising, companies are in the face of people too much—and—ads don’t persuade them.
Yikes! Advertising isn’t relevent, it’s irritating. Some new ad shops are racing to change things. Some old ones too. But it’s clear to me that leading-edge corporations are not waiting for them. They’re planning to cut loose from ad agencies entirely.
Now, let’s think about that. What would it mean if the top 100 global corporations bypassed ad agencies entirely?
Want to stop talking about innovation and learn how to make it work for you? Bruce Nussbaum takes you deep into the latest thinking about innovation and design with daily scoops, provocative perspectives and case studies. Nussbaum is at the center of a global conversation on the growing discipline of innovation and the deepening field of design thinking. Read him to discover what social networking works—and what doesn’t. Discover where service innovation is going and how experience design is shaping up. Learn which schools are graduating the most creative talent and which consulting firms are the hottest. And get his take on what the smartest companies are doing in the U.S., Asia and Europe, far ahead of the pack.