The agency strata that once existed—public relations, marketing, creative, advertising, and SEO—are converging.
Agencies of all types are increasingly offering diverse, integrated marketing services that they previously had not considered. Today, agencies have many opportunities to expand their offerings to the imaginative demands of brand marketers.
What Are Agencies Doing?
Larger agencies were the first to benefit from the integration. Many acquired boutique shops or created new offerings and departments. Edelman is a good example. Its earnings continue to inch toward the $1 billion mark, and the company attributes a chunk of that success to integrated work.
"We're seeing real growth in the combined offering of PR that includes brand and corporate reputation with research and digital," says CEO Richard Edelman.
Moreover, digital media and creative strategies are no longer the bailiwick of large global firms or boutique agencies. Midsize firms are also jockeying for a more competitive position.
Recent reports show that midsize firms are adding new services to retain and attract clients. And integrated services could be the biggest opportunity (and challenge) midsize agencies face today.
Giving Customers What They Want