Welcome to the latest Agency Wire, where we follow major trends in the communications and marketing industry.
Why Your Agency Needs a Separate Innovation Unit
Agencies desperately need to insert more innovation in their offerings, but existing organizational structures make doing so nearly impossible. Organizations that see themselves as being a "service" business have trouble rising to the occasion when it comes to developing ideas and innovation, and many agencies have discovered that the answers lies in "labs" for these three reasons.
Innovation is a full time job: Innovation can't be something relegated to your spare time, it requires an investment of time, resources and people.
Look outside of the organization: Labs need their own management, governance, and budget, and can't be subject to the priorities of the institution as a whole.
Metrics must be different: A lab's success can't be viewed through a financial lens, they need to create the potential for new revenues in new ways.
See the full article for the 4 steps to start an innovation lab within your agency here.
China Marketers Demand Integration, Digital From Agencies
China's marketers are demanding integration from their agency partners, according to the sixth wave of R3 and SCOPEN’s biennial Agency Scope study. The complexity of the Chinese market has been driving marketers to develop relationships with fewer, more trusted agency partners, and to stay with those partners for longer and with digital spends accounting for 25.4% of marketing budgets, clients also want an agency with strong digital capabilities.
Other key trends uncovered by the study include the rise of in-house marketing teams and shifting remuneration models, among several others.
Ogilvy, Mediacom Top the Global New Business League
In the latest wave of our global New Business League for creative agencies, Ogilvy moves into the top spot off the back of wins from Target US, Quizlet US, and Clorets Gum global. VML moves into the No. 2 spot and TBWA rounds out the top three.
For the media agency table, Mediacom holds onto the top spot, with recent wins from Sony, Pinterest and Pfizer. OMD jumps two spots up to second place, and last round’s second place agency, Initiative, drops one spot to number three.
To see all the global, regional and local tables, click here.
R3 is a global marketing consultancy focused on improving the effectiveness and efficiency of marketers and their agencies. Founded in 2002, we work with eight of the world's top twenty global marketers.
Through our regular "AgencyScope" research, now covering more than 1,000 marketers in China, India and other markets, we are learning about true client preferences for the best local agencies in each market and helping agency holding groups form strategic partnerships with the best local agencies.