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99% of the time it’s about undercutting the competition and then overworking the peasants to compensate.
I worked on Coke too at WPP and I mean we did a pretty bad job in part of higher leadership always undercutting us. That’s not to say Coke was an easy client either
Interesting. What did Cole leadership at the agency do to undercut? Never heard that before genuinely curious. I was there for a bit on that business would love to know if people felt this way
They undercut, everyone knows that.
Here’s the realities:
- Performance media skyrocketing a brand is a thing of the past. Media clients aren’t seeing the same insane return so they are making changes in a scramble to keep their jobs.
- Publicis is undercutting. This is saving media leaders in the short term.
- Brand building and creativity is BACK on the agenda of any brand looking to be in a leadership position.
- Everyone is itching to make creative fast - cheap - good. Must include AI. No one is doing it well yet. Everyone claims they have the tech stack, people, reputation, whatever.
- Tariffs in the mix has just made everyone swirl more and question everything.
And so it goes.
👆this!!
Gospel truth, all.
Write a book- Michael Farmer has nothing on you VP1
It’s almost always about rates (undercutting) but there does seem to be something else at play since it is Publicis taking everything from WPP. Doesn’t seem like it cycle back around in 3 years
Industry ebbs and flows but us WPP has been on the outskirts for a bit and didn't get be last flow in its direction. They've gotta figure out their story which only now becomes harder with more robust WPP integration meaning less GroupM control... Guess Mark reads big bets on creative when everyone else bet on data ain't looking so hot about now..we'll see how they responded to merger which I'll have them #2 globally vs number 1. That's the one they really all care about.
And worked on the media part - are you taking from a more WPP creative side ?
No, media
Perhaps it’s about the big savings of their principal media buying approach, combined with their data charges, that subsidizes their staffing and low ball fees.
It does and not for nothing you can hate what it does for me teams and their payment but in terms of ideas for making revenue and charging clients less on the surface, hats off. Most of the industry has also moved away from fte to bonus malus and need to be better about flex dollars where Publicis also has a larger percent going through than any other holdco