What Is The Agency Model Of The Future?
What are the best agency models, the best creative agency model, the best media agency model? What are the pros and cons of different agency models? What is the Agency Model of the Future? The best advertisers are constantly asking these questions of themselves, their agencies, and of course Flock.
At Flock we often help our clients identify and create new agency ecosystems, developing and adjusting agency rosters to match the ever-changing needs of their brands and consumers.
There are hundreds of different Agency models and even more variations! Flock classifies these into five conceptual agency models, from which others are derived. Working with our clients and these five conceptual models we deliver custom-built solutions.
Below we will introduce the most common five models, for you to begin to think about what is the best model for you, your brands, and consumers. Each of the models can operate at a Global, Regional, or Local level and may apply to any discipline or across all agency roles.
Customer Experience Model
The digital transformation has lead to an increase in agency models with data at the centre of them. These data-driven models provide truly integrated moments that matter along the customer journey. In this model, agencies are prescribed against different tasks of the customer journey (awareness, loyalty, etc)
The Work Model
In this model, an advertiser will allocate agencies by deliverables (either by channel eg. media or by task eg. Brand X). This is the most “traditional” of the concepts and the way that many advertisers have organised rosters, but the approach has evolved and many advertisers are re-integrating or creating new different categories of work, and re-rostering accordingly.
Hubs
This model consists of an agency or holding company network that is comprised of multiple connected hubs which utilise talent depending on market/brand maturity.
Bespoke Models
This agency solution is highly specified by the client, to meet their needs. The advertiser will specify different agencies to partner with or co-locate to offer a seamless solution. Often the advertisers own processes, technologies, data-sets that the agency uses.
In-housing/In-sourcing
This model involves in-housing or insourcing skills that an agency typically provides. This may mean all functions move inside a client organisation, or just some aspects. The staff may be employed by the advertiser, or “rented” from an agency.
Which of these agency models is the best solution for you?
These are models and each offers different practical pros and cons for control, ease of management, agility, cost, etc. It is important to do a thorough analysis of what your future needs are, and evaluate each before deciding on a model. You’ll need to factor in your current status, the change management effort, and critical dependencies and enablers before you commit.
If you would like to know more about agency models, what models other leading advertisers use, or how to conduct an Agency Ecosystem Review don’t hesitate to let us know. Having conducted such reviews for advertisers like Ford, McDonald’s, J&J, Gore, BAT, we have a unique point of view to offer.