Indie agencies turn to strategy as brands’ demands change

Independent agencies are recovering well following the unprecedented disruption of 2020, according to a report from Agency Futures Index for Worldwide Partners Inc (WPI).

Key to this recovery has been their agility in adapting to the new demands from brands – as consumers switch to new forms of content and commerce, and as brands increasingly take data and technology in-house, what in now in demand is help with transforming new insights into business advantages and opportunities.

The details

• 64% of independent agencies say their revenues are higher than at the same time last year, when the pandemic was raging and lockdowns were most severe.
• A third of agencies surveyed said strategy was now the most profitable service they offered. This was followed by media planning and buying, cited by 16%, advertising (13%), digital and ecommerce (11%), content creation (7%) and social media (4%).
• And 27% of indies surveyed said strategic advice would provide the biggest opportunities for this year, followed by content production and distribution, cited by 20%, performance marketing (12%), along with data services (12%), and management consulting (6%).

Key quote

“What's come out of this [pandemic] is its talent over tech,” Harris said. “[Brands] need great thinking to implement technology, or extract data from technology. So you're seeing that human component coming back.” John Harris, president and CEO of WPI. 

Sourced from Worldwide Partners