All is not well in the world of digital agencies.
Profits are falling. Clients are cutting budgets. Workforce brain drain is well underway as labor continues to siphon into tech. And yet, agencies continue to try to charge premiums for the same B.S.
The agency model is broken. And we are closing in on the agency apocalypse.
The digital agency landscape right now looks a lot like Blockbuster in the '00s. Agencies have failed to innovate, and they are not providing new value to clients who demand it. Ad dollars are seeping to Facebook and Google and consultancies are price gouging each other in a race to the bottom. We are fighting each other for the scraps of a broken system. We are attempting to make up for lost revenue by selling candy and popcorn, when what's needed is a large-scale overhaul of the entire business model.
If agencies want to survive, we must make ourselves obsolete. We must disrupt ourselves.
In this talk, I'm going to show you the flags of the coming disruption, outline the problem at the root of the issue (hint: it's terminal), and forecast some potential ways forward as well as what the future of digital agencies may look like.
One thing's for sure: in five years, a digital agency will look very different from what it does today. In fact, they may be a long-extinct relic from the past. The only way to survive?
Adapt, and adapt now.