By Anushree Bhattacharyya, afaqs!, New Delhi, August 22, 2011
"Tim Williams, founder and managing director of Ignition Consulting Group, spoke on the urgent need to re-invent the business of advertising, and on the new role that advertising agencies need to take up in order to ensure a safe future ...
"The business of advertising started as agents dealing with media on behalf of advertisers. However, now, the role of the 'agent' is losing its relevance fast as the internet allows marketers to converse directly with consumers," remarked Williams.
According to him, interestingly, advertisers now also want to talk to media companies directly once again, sidelining the role of ad agencies. Therefore, now, media companies are setting up internal creative agencies. At the same time, production companies, too, are getting into the business of creativity by setting up their own creative solutions shops.
All this, in turn, has led to ad agencies getting into the business of media, as well as production. So, in the future, there will be little or no difference between all three sets of companies and all three will directly compete against each other.
Williams further added, "There is, however, another path for advertising agencies -- the role of curator. Ad agencies, apart from developing content, will also have to take up the job of helping advertisers to select the right ideas."
(original Scoop by: http://www.scoop.it/u/janlgordon)