—There is a massive difference between our industry having fewer agency brands and the idea that those brands matter less, says Tyler Turnbull—
With WPP’s recent merger bringing together creative shops VMLY&R and Wunderman Thompson under the new, mega VML brand, many industry news articles have declared that agency brands really don’t matter anymore.
That, in essence, clients don’t care about the brands they work with and are simply focused on the people and capabilities their agency teams deliver for them.
An example of this point of view was recently shared in a Digiday story, which made the point that because more CMOs today come from performance backgrounds, they care much less about agency brands.
To really put a point on it, one unnamed CMO even stated that “caring about agency brands mostly indicates you’re paid too much and are a ‘Mad Men’ nostalgic dinosaur at this point.”
Well, I wasn’t around in the 1960s, and I am not nostalgic for that era.
But I’m stunned that many in our industry—which represents some of the world’s greatest creative talent—are suddenly ready to give up on the very notion that our companies, with all our unique capabilities and distinctive cultures, are just interchangeable parts.
As a part of FCB, a brand celebrating its 150th anniversary, I know I’m biased—but I think agency brands still matter.
In fact, given the data-led, technology-driven era that we all now live in—and the impact of generative AI across every aspect of our business—they will matter even more.
There’s no denying the wider trend toward consolidation, but there is a massive difference between our industry having fewer agency brands and the idea that those brands matter less.
In fact, as the number of choices shrink, I’d argue that strong brands will have more value than ever. Not convinced? Ask Wall Street.
According to the latest IPA report on what financial analysts value most about companies, 79% listed brand and marketing over technology or even profit.
Perhaps a handful of unnamed CMOs don’t care much about agency names and the value built into them over time—but you know who does? The people that work at them.
That’s because core to any agency—whether in 1960 or today—are the people who choose to work there. The best agencies have always been defined by talented people, and that’s where agency brands still matter.
They represent the promise that every person who works there is signing up for. The promise of working with incredible partners to make the best work of their careers.
The best agency brands are about being talent magnets. Great people don’t want to be viewed as just another interchangeable part. They want to be a part of a company that values who they are, what they can bring and the outcomes they drive for the organization and its clients.
In my experience, the best agencies enable their employees to collectively shape their companies and become proud of the brands they represent. That combination invariably leads to the best work.
And that’s what every CMO should want.
Tyler Turnbull is global CEO at FCB.
This column originally appeared at Campaign US.
