In a report submitted by MediaSense, there are some interesting key takeaways to highlight. For example, 66 percent of brands claim to actively be looking to reorganize their internal model for marketing.
An organization in permanent change – interesting stats about marketing 2020
The world of marketing might always be in a state of transition, but in recent years it has shifted to somewhat of a permanent change. So has the roles of CMO’s, as have whole marketing organizations.
In a report submitted by MediaSense, there are some interesting key takeaways to highlight. Here’s a summary of what we find most valuable:
66% of some of the worlds leading brands who are part of the report, claim to actively be looking to reorganize their internal model for marketing. 61% of the same brands are also planning to make a shift in their agency operating model – it is time to become faster and more agile. We obviously couldn’t agree more: the cross-agency-model is what we believe to be the best constellation in terms of a modern marketing team.
Brands and agencies are getting more similar
In-housing has its momentum now, but what does this mean for the agencies?
The report shows that so-called ”T-shaped talent” is high up on both the brands and the agencies lists of critical recruits. The marketing teams of brands are on a larger scale mirroring their agencies in terms of talent. They have started to mix their teams with roles such as performance marketing specialists and data analytics, to bring more of the strategy and planning in-house.
Filling the gaps with specialists
This leaves the agencies with more of an execution role, and forces them to remodel their workforce to better fill in the gaps of specialist services that brand marketing teams are missing. Again, this also shows that implementing a cross-agency-team, where for example data specialists are mixed with communicators and creatives, are highly relevant for both brands and agencies.
From bundled services to nishe
Also, many brands are reconsidering what type of agencies to work with. The report shows that brands are less inclined to bundle services (media, creative and both) into fewer agency partners. Instead there is a greater demand for niche agencies – also as a complement to the increasing use of in-house resources.
Technology is king
For the agencies to stay profitable, the report also suggests that they will start to act more like technology companies, but what does this mean? Well, in this sense, it is blending people and experience with automation and technology to stem the trend of insourcing and to be able to keep up with, and compete with similar businesses.
Stepping up tech-wise
Agencies need to step up technology-wise by making sure they have people with the right technology skills at hand. However there’s no need to employ tech specialists full time if this skill is not needed at 100%. By instead hiring consultants, the agency can continue with a complete focus on being creative and executing, leaving the technology part to an excellent specialist consultant. Read more about how Customersonly can help you with that!
The mystery of data
In the report, 46% of the respondents say they are ”more likely than ever” to agree in that they know less about how their media is performing, despite having a more significant number of data at hand. Strange. Well, not really – since this has been an issue for several years.
Measurement has been a massive problem in the industry for a long time, leading to brands making bad media investments. What is needed is a standardized way of measuring quality and profit, which will prevent brands from making bad media investments.