Advertising agencies have been around for centuries, but with the rise of digital media, many are wondering if they are still relevant. In the United States, there are 13,000 advertising agencies that specialize in creating and buying ads for TV, social media, and out-of-home advertising. However, with the emergence of new technologies and platforms, traditional advertising agencies are becoming less and less necessary. The internet has changed the way people consume media, and this has had a profound effect on the advertising industry.
As a result, many traditional agencies have had to adapt their culture, processes, structure, talent policies, resources, and even their business and revenue models in order to stay competitive. If they don't make these changes soon, they may find themselves becoming obsolete. In addition to adapting to new technologies, agencies must also focus on creating more collaborative relationships with their clients. This means that they must be willing to devote their time to other areas such as forecasting and media buying.
Unfortunately, many old-school advertising agencies have been unable to keep up with the changes brought about by the internet. As a result, many large companies are now taking their marketing efforts in-house and only reaching out to an agency for special campaigns or rebrands. Advertising account planners can help bridge the gap between clients and agencies by ensuring that both parties are on the same page. Clients must trust that agencies will do their jobs correctly and accordingly with the resources they have provided.
Typical clients of advertising agencies include companies and corporations, non-profit organizations, and private agencies. Digital agencies are also becoming increasingly popular as they specialize in working exclusively in the online world. They perform many of the same functions as traditional agencies but focus solely on digital campaigns. If you have a large company with a marketing department that can design your overall marketing strategy and analyze results, you may only need a few marketing companies for their tools and maybe a little extra help from a specialized digital agency.