Once you look for the biggest companies in the marketing business, you’ll find a couple of names on that list – like Deloitte Digital, PwC, Accenture Interactive, etc.
However, these aren’t strictly traditional marketing agencies.
And yet, they obviously take in a huge amount of revenue for the provision of marketing practices and services; while also managing to dominate the top list above more specified marketing agencies.
This is a shift that’s been going on for the past decade – so why is it happening, and what are the market conditions facilitating it?
In order to answer this question, we’ll have to explore the definitions of marketing firms and marketing agencies more closely.
Marketing Agency
If you take a look at a traditional agency and their marketing management, you’ll find that their business model is crystal clear; they connect talented, creative people, with clients who have specific marketing-related issues.
Also, remember this, as it will be crucial for later on – in this case, the client company knows what their marketing problem is (or at least, they believe they do).
They’ve got a strategy, model and framework that they want to implement.
What they want from the agency is a supplement or complete replacement of the in-house marketing team of the client.
When a marketing agency does work for a client, they most often do so with project management oversight from the client, as well as careful directions.
Most typically, the marketing agency will have a direct relationship with the CMO – chief marketing officer – of the client.
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