Consultants are eating the agencies' three-martini lunch
Many management consulting firms and technology companies are creating advertising agencies, mostly through the acquisition of agencies that have capabilities in user experiences, digital marketing, design, web and mobile. In the past few years, management consulting firms are ramping up their creative expertise as they are expanding the traditional set of agencies competing for marketing dollars, challenging giants like WPP, Publicis and Omnicom . According to Ad Age magazine, 8 of the top-10, and indeed, all the top 3 ad agencies are not those legacy names that might visit your home nightly with their TV commercials. Instead, they are consultancies like Deloitte, Accenture, KPMG and PwC! Even McKinsey is slowly building an agency arm; and tech companies like Adobe, Oracle and Epsilon have added a service component in the form of an agency to their core product offering. While the holding companies have slowed down their M&A activity of yesteryear, the ...