Bed-hopping is a no-brainer
When the recession hit hard three years ago, some very influential marketers predicted that things would never be the same again. In many ways, this has proved to be the case – whilst things are now on more of an even keel, most business sectors seem to be characterised by a sense of ongoing uncertainty.
One of the symptoms of this is the modularisation of marketing budgets. Clients are increasingly putting work out to pitch on a project-by-project basis rather than aligning themselves with a selection of long-term agency partners.
This approach has its advantages. It enables clients to scale activity up and down as required, and it certainly doesn’t allow for complacency to set in. If each new project is properly thought through as part of a wider strategy, then there is a lot to be gained from this way of working.
However, there are risks as well as rewards.
As an industry we need to take extreme care not to fall into the trap of short-termism. Building insights that underpin the sort of breakthrough thinking that can truly shift customer behaviour does not happen overnight. If clients bed-hop between agencies and don’t allow relationships to flourish, there is no accumulation of understanding and knowledge. Instead, each project acts in isolation rather than playing a significant and cohesive role in the overall plan. Then the modular approach becomes a false economy, as the money saved is disproportionate to the lost ROI that could have been gained with a more connected approach.
Times are still tough, and we do need to explore new, more innovative ways of working. But if we lose sight of the bigger picture, it will only serve to stunt growth and further delay a return to confidence. And that’s not what anybody wants.
