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This article examines the increased tension in client–agency relationships amid the COVID-induced recession, and how to make 2021 an opportunity to renew and refresh these partnerships.
Read the quick summary:
The agency industry has been shaken by the pandemic, with the associated budget cuts resulting in mergers, layoffs and shuttered agencies. It also has had a particularly negative effect on agencies that are more traditional in nature and have not focused on some real areas for growth on the agency side of the business.
As reduced budgets from clients shrink the agency business, clients will feel the burn, as agencies become less desirable to work in, resulting in a talent drain and also higher prices for the remaining resources.
Clients have all been faced with a choice during this recession: to use it as an opportunity to cut agency budgets, or to recognize the long-term benefits for both sides of ensuring agency–client relationships that are true partnerships.
By Bruno Gralpois, Author/Speaker, Thought-provocateur, Client/Agency Guru, Entrepreneur, Innovator
February 5, 2021