Talent is a company’s greatest asset and also an area that companies normally struggle with, especially when it comes to retaining good talent. The marketing and advertising scene is not spared from the talent crunch either, having to deal with the Great Resignation and quiet quitting. The hybrid working model has also changed how employees interact with one another.
As agencies gear up for 2023, some talent transformation is expected, and according to Forrester, they will eventually force a culture change in agencies. Here are the five ways agency culture is expected to shift.
1. Race to acquire B2B marketing expertise
Forrester predicts that about 3% to 5% of client-side B2B marketing expertise will shift to agencies next year, as marketers move more dollars into B2B digital and marketing transformation.
This flow of talent signifies another culture shift within agencies as the worlds of B2B versus B2C, specialist versus generalist, and client versus agency collide next year.
According to Forrester, B2B marketing services open up a significant revenue channel for B2C agencies and B2B agencies themselves. In fact, the market for B2B marketing services is expected to hit US$30 billion. Even traditional holding companies have doubled down on their B2B ambitions, with dentsu consolidating DWA and Gyro into Merkle, for example, and Publicis Groupe purchasing Octopus Group.
2. Digital media function to be outsourced
The digital media function is expected to be outsourced to agencies next year from brands that are reluctant to takae responsibility over consumer privacy in paid media. Also, 20% of media management master services agreements are expected to be rewritten in the new year to ensure that media agencies will take more consumer privacy and data risks.
As big tech makes changes to its policies in line with consumer privacy and the regulatory environment requires brands to do more for privacy accountability, Forrester said brands will not allow…
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