The examples cited of Honda and HSBC Bank reinforce the need for client side CMO’s to own the strategy and execution oversight for developing, implementing and assessing the performance of integrated marketing campaigns. Further, the trend cited by Forrester of agencies trying to “re-bundle” their services is fraught with risks to the advertiser.
In a fast moving market, with emerging technologies and the explosion in social media, the case could be made for companies to consider specialized “Best in Class” providers, rather than generalist shops. Of course this type of model will likely require an investment in internal resources to help shore up Marketing resources and capabilities.
In light of the risks associated with waiting on solutions to emanate from within the “agency house,” perhaps this is an investment worth making … Read More