In 2011, there are new trends that are emerging to redefine the concept of traditional advertising agencies models. The best approach involves collaboration between functional teams to build one bridge that provides a healthy deviation from the traditional models.
The changing times have created an atmosphere that is ripe for advertising agencies to adopt new technological formats. Technology is changing the way that we are entertained and how we receive news and information. It is no longer standard protocol to deliver what we think that the consumers will be interested in based upon past trends. Consumers are powerful advocates for change, they now demand greater access to new product information, and they want to choose what is best for them by playing an active role in campaigns.
Promoting Positive New Trends and Embracing New Technologies
It is imperative to promote positive new trends and embrace new technologies in response to a changing consumer base. All agencies, including Hispanic marketing ones, must adapt to the changes by modifying the way that they conduct business. Online consumers are granted instant access to new products with streaming news and information. The influence of online media is evident across all demographics, particularly among the ever increasing Hispanic population. The bottom line is that in order to survive, Hispanic-American agencies must adapt to these changes to satisfy their client’s needs.
Clients of advertising agencies want quantitative results. They demand a model for their campaigns based upon delivery of returns that can be readily identified and measured. The best way to adapt to the changing needs of clients is by providing the results that they want by forming partnerships through collaborating with other experts. When the combined efforts produce driven results, the clients receive better service.
The greatest challenge remains, what can we do now?
We have to grow with the changing advertising methods that are being driven by online media. The methods that use to produce effective results won’t work anymore. The standard full service agency is no longer a viable operating model. Cost reducing efficiency is achieved through a more streamline approach to standard business operations. Today, complex organizational structure just leads to more problems hidden beneath a hierarchical structure that hinders market response time. The old model involved more costs and it created dissension among collaborators, subcontractors and partners. If there is something that we learned from the “old model”, is that subcontractors were lost in the organizational structure. The new model calls for a workable solution that includes the subcontractors as a vital part of a successful collaboration.
Collaborations and partnerships allow for the development of a greater pool of effective resources and functional skills. When teams exist as a cohesive unit, we have a wide array of experts with various skills, it is better than working alone to provide an answer. When the model relies on the input of one small agency working alone to find a solution, the solution is limited. Working alone the agency is limited to individual resources and the markets are confined to ones specifically within their geographic area. It is time for a new approach that will broaden our horizons.
Intra-Agency Collaboration for Better Results
We now have the opportunity to broaden our approach. It is no longer viable to operate as one full service agency. When the duties are delegated and dispensed to other agencies, we can use the expertise of all the team members. Together campaigns will become successful powered by partnerships that build a stronger team. Collaborating with other agencies will streamline efficiency, increase communication and accelerate learning. It makes good business sense to participate in a partnership program.
Partnerships should not be formed between agencies with vastly different agendas. It is important to begin the partnerships with open lines of communication. The agenda should focus on one strategic objective, to get the most out of joining forces. Partnering agencies should begin the collaboration with a trial run, to determine if there is a good fit. Take time to adjust, adopt and adapt.
Hispanic-American agencies collaborating with other agencies can greatly benefit from a cohesive blend of professional expertise, resources and skills.