During the pandemic, agencies and clients have fallen into a familiar recessionary pattern, with clients cutting budgets and agencies feeling squeezed. Going forward, however, the focus should be on both parties re-calibrating to build a stronger, more balanced ecosystem.

Why it matters

Even as the pandemic has been a particularly acute stress test, if agencies and clients are to flourish, some reassessment of roles, relationships and rewards is necessary. Takeaways

• For agencies, there’s an advantage to tilting towards high-growth services, especially in areas of digital transformation.
• As some of the industry shrinks, thriving agencies will become more selective about...