Good piece in the September 24 issue of Advertising Age by Jennifer Rooney and Avi Dan on the fundamental components of what an advertising agency business model should look like. The article points out 5 pillars for an agency:
Compensation - tied to value creation instead of labor.
Outsourcing - the agency should be an organizer of creative talent.
Revenue Streams - licensing of content.
Speed - as a strategic asset for an advertiser
Social Responsibility - needed to recruit talent
As a client I of multiple agencies I couldn't agree more. While it sounds cliche, agency's will always be best at developing ideas that reinforce or change the meaning of brands. The value creation is in the creation, articulation and evolution of the core positioning or value proposition. The challenge is in measuring this value and how it translates into the client's world of ROI and dashboards.
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October 12, 2007
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Books
Claude Hopkins: My Life in Advertising and Scientific Advertising (Advertising Age Classics Library)
The first and best book ever written on advertising.Steve Sanduski: Avalanche: The 9 Principles for Uncovering True Wealth (Modern Parable)
Guide to a better life and focus.Al Ries: Positioning: The Battle for Your Mind, 20th Anniversary Edition
Best book ever written on the natural laws of competition and brandingDavid A. Aaker: Building Strong Brands
The bible of brand development.Dan Ariely: Predictably Irrational: The Hidden Forces That Shape Our Decisions
Frank Luntz: WORDS THAT WORK: IT'S NOT WHAT YOU SAY, IT'S WHAT PEOPLE HEAR
Best book on Articulating Selling Propositions ever written!!! A must buy for any marketer. (*****)Fred Reichheld: The Ultimate Question: Driving Good Profits and True Growth
Guide for Improving Customer Satisfaction. Highly recommended. (*****)
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