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@OP the reason they’re saying no is because of how big ad agencies are set up to make money and deliver work. Project based requires flexibility in staff structure that agencies are not set up to do. Consultancies have a very different way of resourcing and managing profitability.
100% agree with you, consultancies certainly have deeper ties into the c-suite, can absolutely better help organizations address business challenges and perhaps even transform businesses through their interdisciplinary capability offering (business, digital, IT, human Capital etc.)
However in regards to creative (advertising), I just haven’t seen it yet. Not saying it won’t happen, but just haven’t seen it. Even in regards to brand challenges the examples are few and far between.
Now, if you want to talk about design yes I have seen places like McKinsey invest in bringing in talent AND output work for clients. If you want to talk about media and digital marketing Accenture is doing a fantastic job IMO.
But brand and creative, I personally have yet to see it
Aside from banner ads and some CRM? I haven’t seen any other work out of consultancies. No CMO has put a stake in the ground saying I am taking my business from Agency X and going to consultancy Y.... and again, even if they have (safeguarding against that 1 instance) where is the work?
Here’s some work from the example I just gave:
https://www.adweek.com/digital/why-john-hancock-set-up-a-fake-retirement-community-in-the-middle-of-texas/
@Heat1 that's exactly what I'm talking about. My team gets asked to do 1-off projects as well are the AOR for a few Pharma brands, but our MD and President have been saying no because the projects are "too small" and "we are a creative shop".
If I were on the other side I would gladly go to any Consulting shop that can get it done, get it sooner fast, and get it done efficiently.
@Heat1 Yeah...the right way!! Do you know what margins you guys get when you accept and deliver on projects?
I like the John Hancock work. I thought it was a good creative project.... I’m not knocking anything... just saying not many CMOs are putting a stake in the ground and launching campaigns
McKinsey wants a very different strategy than what marketing does. What's the most tabs you've ever built into an Excel model? And can you put 10 graphs into a single PPT slides with all the wording?
@ML1 not sure I understand? Consultancies buying ad agencies (and integrating them into their service offering) is what makes it different
@M2. Yes. We are an ad agency. That now plugs in and helps deliver much broader transformative solutions for clients. Other agencies cannot do that.
@Op I was referring more so to the pure brand consultancies: Interbrand, Prophet, Siegel&Gale, Landor, Lippincott, FutureBrand, etc are OG brand consultancies (most under the big holding companies).
For agencies with brand consultancy legs, both Huge and R/GA are trying to build that out (with ex consultants from the above mentioned). I hear good things.. but haven’t seen much of the work. So you might be right on the “not as good” front.
@OP I do, but I wouldn’t feel comfortable sharing anything about my margin targets on here.
What I can say is... our rates our competitive, and yet we exist within one of the big 4 Account firms. They know how to make businesses profitable.
I only think it's a matter of time before strong Creative is brought in so solve Brand challenges. I've seen it happen at Accenture...they brought in a seasoned CD from Publicist and he had a strong team and was pitching and winning business.
Only reason he left is that he felt the path to MD was too long.
I agree with you OP... only a matter of time
Thanks AD1. Nothing truly stopping me just wanted to see if my perceptions were valid. I've proposed a similar type model with the Agency but keep hitting brick walls.
“Consulting firms” are just vultures looking to turn over a profit on a carcass .
@VP2 huh? Not sure what you’re talking about. Marketing consulting or advertising?
SC1 thanks for the advice.
Although I feel that the consultancies within agencies are not as good as the ones found outside. I wonder if they have to operate under an Agency or holding group structure?
DD1 anyone higher than a VP has a tough time getting scoped in projects. Tons of oush back from clients about rates and what they actually contribute. Can’t say that I disagree
@Heat I guess my point that if I'm Michael Roth of John Wren I might be worried that consultancies will steal our business.
As an employee it doesn't really matter if the agency I'm working for is owned by IPG or Deloitte. It's still an agency.
^Nice to hear DD1! 💪