The latest in the IESE Lunch Series was held on December 1 in London and featured an academic session given by Prof. Xavier Oliver titled "Advertising Today. The Long Journey of Reengineering Communications Companies." Among those taking part were HR directors and talent management directors from companies such as Bloomberg, American Express, Sky and IPG.
Among the points raised was the view that increasing centralization has led to agencies losing touch with local audiences and that there are a growing number of specialists employed by agencies but fewer experienced generalists. It was pointed out that a CEO who is only concerned with financial results and does not stress customer care and attention risks losing touch with clients.
Agencies have to change the consumers’ perception that they are only after profits. They need to use Marketing 3.0 in order to focus on creative conversations with consumers in order to regain their loyalty.