“It was never mentioned at the time, but the widespread pursuit of shareholder value initiatives put marketing in the back seat among… — Michael Farmer Copy Share Image
“Acknowledge and accept that clients are governed by shareholder value concerns, and that the mission of the agency needs to be refocused… — Michael Farmer Copy Share Image
“Agencies need to initiate the creation of marketing and strategic performance partnerships that see themselves and their clients as co-equal partners, each… — Michael Farmer Copy Share Image
“There was a new trend for agencies to hire and parade before their clients “strategic planners,” an ideal originally imported from the… — Michael Farmer Copy Share Image
“Shareholder value became, from the 1990s onwards, a driver of management consulting success and, somewhat sadly, of advertising agency marginalization.” — Michael Farmer Copy Share Image
“What has my readers scratching their heads, though, is why advertisers, whose cumulative actions have painted ad agencies into a corner, marginalizing… — Michael Farmer Copy Share Image
“Recession, advertising slow-downs, media spin-offs, procurement department investigations, client globalization initiatives, fee-based remuneration schemes and holding company ownership added significant complexity to… — Michael Farmer Copy Share Image
“Accountability for agency operations is fragmented. Each office in a network is a separate profit center. Each department in an office self-defines its missions.… — Michael Farmer Copy Share Image
“Digital technology did not really lend itself to a simple division of labor between creative (generating the ideas) and production (executing the ideas). In… — Michael Farmer Copy Share Image
“Poor leadership” is a major cause of job dissatisfaction and low morale. More than half of those with low morale rated the leadership at… — Michael Farmer Copy Share Image
“The real agency problem resides in the C-suite of ad agencies, and it is to the C-suite that we must turn to find leadership… — Michael Farmer Copy Share Image
“It was never mentioned at the time, but the widespread pursuit of shareholder value initiatives put marketing in the back seat among other strategic… — Michael Farmer Copy Share Image
“This is an industry that no longer reflects strategically how to create value in the face of disruptive change.” — Michael Farmer Copy Share Image
“Procurement sets fees based on a negotiated agreement about agency headcounts and costs, and (separately) marketing generates workloads for the agencies. Agencies, who measure… — Michael Farmer Copy Share Image
“Acknowledge and accept that clients are governed by shareholder value concerns, and that the mission of the agency needs to be refocused on helping… — Michael Farmer Copy Share Image
“Agencies need to initiate the creation of marketing and strategic performance partnerships that see themselves and their clients as co-equal partners, each with specific… — Michael Farmer Copy Share Image
“Ironically, the increase in numbers of the strategic planners had the effect of releasing the client service people from any previous responsibilities they had… — Michael Farmer Copy Share Image
“Agency turnaround plans must be developed by agency top management teams and carried out with vigor throughout their agencies, with a goal to develop… — Michael Farmer Copy Share Image
“The cozy relationship between chief executives and advertising agencies had unravelled, as other strategic advisers like investment bankers and strategic management consultants jumped to… — Michael Farmer Copy Share Image
