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“Tech clients are breaking up with ad agencies.”
This headline from a recent Marketing Brew article tees up the key issue many advertising agencies are now facing: dispensability. Many companies, amid high inflation and dwindling VC funding, can’t rationalize paying for “premiere offerings,” like ad agencies.
To be clear, this ad agency crisis isn’t particularly new. There’s been a steady drumbeat of articles highlighting it since 2020 (and before then). But the emergence of AI solutions – and the growing number of consulting firms taking on ad agency duties – makes 2024 an important “comeback year” for ad agencies. To survive, they must optimize their personnel spend.
Here, we discuss three ways real-time job market data can help you, advertising agency leaders, do just that.
1. Hire Based on Live Data – Not Headlines
Don’t let headlines dictate your hiring strategy.
Yes, it’s important to consider what industry experts are saying. But you also need data to accurately assess the industry. This is especially crucial when you consider that publications may use one headline-worthy stat – e.g., “ad business cuts 2,500 jobs” – to substantiate a larger claim about agency performance nationwide.
That doesn’t mean the stat, or even the opinion
