Writing on his blog, Idiot Flags, independent marketing consultant Stephen Ban comments on the closing of JWT’s Chicago office and the general demise of ad agencies in general. Some gems:
“Agency networks create “conflict agencies” with new names — effectively admitting that their brands are meaningless, and rendering the differentiation between and among the original agencies irrelevant”
“The industry ate itself with a de facto price war that followed the M&A boom of the 1980s and 1990s, so anxious to find or keep new business (and service its debt) that it devalued its own product and destroyed its own economic model.”
“The agencies of today have a group of retreads at the top and a group of bouncy 25 year-olds who “like to work with people” working for them. “
Check it all here.
