Advertising agencies need to evolve from just being ad campaign developers to brand consulting firms in order to survive in the increasingly competitive markets in the coming years, observed Atul Tandan, Director, Mudra Institute of Communications, Ahmedabad (MICA), while talking to exchange4media.com in the sidelines of Conclave 2004 at Delhi.
Further elaborating the argument, he said the boom in specialised sectors like pharma, IT, telecom and retail business has thrown up vast opportunities before market players. However, these sectors required integrated specialised services. “Agencies need to offer services on brand communications, brand asset management, media marketing and event management – all under one umbrella,” he added.
As he informed, MICA was soon to begin a research on how advertising agencies needed to evolve from their present status. “Outside help for conducting this study will also be sought and the activities will kick start in the coming few months, said Tandan.
Supporting the academician’s view, Arvind Sharma, Chairman and CEO, Leo Burnett, said advertising in India had come of age. “The increasingly competitive market requires specialists and not generalists. A bouquet of services need to be provided to clients by advertising agencies,” he added.
Brand consultancy is certainly the next big progression for advertising agencies in the coming years. Bigger agencies need to gird their loins to tackle accounts of corporate majors by providing complete range of services under one umbrella. As per the client’s needs, assignments like event management also need to be handled by agencies, remarked Santosh Desai, President, McCann Erickson.
PV Narayanamoorthy, Regional Director-Strategic Resources, Carat Media Services Asia Pacific, said the new avatar of ad agencies in the coming years was of brand consultancy. In fact, most of the biggies have already started providing a host of other services alongside developing ad campaigns. “The new-age commercialisation of dawned and competition can be fought only by giving clients consolidated services,” he said.