Four years ago when Diego Scotti joined Verizon as CMO, he faced a daunting mandate: Create a plan to help in the company transformation from a stodgy telecommunications leader to a state-of-the-art, 5G-powered tech pioneer.
Success, Scotti realized, required not only an overhaul of the company's brand but of its entire marketing structure. He laid out a blueprint for launching Verizon's new brand identity and a three-year timeline for building an in-house agency that could help form a seamless brand presence across every company-owned channel.
In forming 140, the brand's in-house agency — named for the iconic Verizon-owned building at 140 West St. in lower Manhattan that houses the agency — Verizon joins a trend of brands bringing agency work in house. In fact, according to a recent study by the ANA, 78 percent of ANA member respondents report having an in-house unit in 2018, compared to 58 percent in 2013 and 42 percent in 2008. Like Verizon, they're seeking greater control over brand messaging, dedicated staffs, and better cost efficiencies.