Advertising Agencies Are Dumb

Advertising and marketing agencies are generally run by pretty smart people, right? So why are large parts of their operations still so dumb? One of the major challenges agencies face is keeping up with the pace of technological change. They seem to be getting left behind. It’s true that agencies employ relatively sophisticated algorithms to predict, for example, purchase intention, or detect negative social media chatter about a brand. But they have failed to apply the same sophistication to the management systems running their own businesses. Change at warp-speed A century ago, the life expectancy of a firm in the S&P 500 index was 67 years. Many household names, like Pan Am, Arthur Andersen, Woolworths, have simply ceased to exist; others merged or were gobbled up by bigger fish. It’s…


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