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<ul><li>Ajay will report into <keyword id="2932117" type="General" weightage="20" keywordseo="Amit-Wadhwa" source="Orion">Amit Wadhwa</keyword>, Chief Executive Officer (CEO), <keyword id="12016868" type="General" weightage="20" keywordseo="Dentsu-Creative" source="Orion">dentsu Creative</keyword> India.</li><li><keyword id="1688376" type="General" weightage="20" keywordseo="Ajay-Gahlaut" source="Orion">Ajay Gahlaut</keyword> resigned from Publicis Worldwide in July, 2020.</li></ul><keyword id="188613" type="General" weightage="20" keywordseo="dentsu-india" source="Orion">Dentsu India</keyword> has announced the appointment of creative veteran Ajay Gahlaut as Group Chief Creative Officer (GCCO), spearheading creative excellence across dentsu India’s award-winning creative agencies.<br /><br />Ajay will report into Amit Wadhwa, Chief Executive Officer (CEO), dentsu Creative India and will be responsible for accelerating dentsu India’s creative businesses under one optimised service line. Dentsu India initiated the formation of a new structure for its Creative service line in June this year. The redesign - part of the network’s global plan to transform into the most integrated group in the world by 2024, brings together its agencies under one umbrella and catapults dentsu India into its fresh journey to 2.0. The agency brands that come together under this new creative design are <keyword id="2805202" type="General" weightage="20" keywordseo="Dentsu-Webchutney" source="Orion">Dentsu Webchutney</keyword>, Taproot Dentsu, WATConsult, Perfect Relations, Isobar, Dentsu One, Dentsu India and Dentsu Impact.<br /><br />A creative genius with over 27 years of experience in advertising, Ajay wrote the line ‘Do Boond Zindagi Ki’ that anchored the famous Pulse Polio Immunisation campaign with the superstar Amitabh Bachchan. He also created more than a dozen commercials for the campaign and played a significant part in eradicating polio from India. He was also behind the line ‘Make It Large’ for the whiskey brand Royal Stag that transformed its fortunes and made it the highest selling whiskey in its price range. He created the character ‘Mr. Murthy’ for Voltas Air Conditioners and catapulted Voltas to the number one position in the category.<br /><br />Ajay has also created work for the whiskey brand Imperial Blue with the famous ‘men will be men’ sign off. He has won multiple Cannes Lions, One Show and D&amp;AD awards in his more than a quarter century journey in this business. But what deserves a special mention here is the way he led Ogilvy Delhi to win 8 Lions at Cannes in 2013. Not only did he surprise the country but surprised himself as well. Some of the most significant brands that Ajay has worked on are Pernod Ricard, BMW, HT Mint and KFC at some of the world’s best known Creative shops.<br /><br />Commenting on Ajay’s appointment, Amit Wadhwa said, “Dentsu India is in the midst of an exciting transformation journey towards dentsu India 2.0 and Ajay’s joining is a critical part of the plan. Ajay is a well-respected Creative leader with years of experience across categories and the right mindset that matches with dentsu India 2.0. With the brilliant Creative minds in our business, we will be a force to be reckoned with, delivering growth for our clients while continuing our creative evolution at pace and scale.”<br /><br />Ajay Gahlaut said, “Dentsu’s creativity defines generations. When the opportunity came to join Amit and his team, I could not refuse. Creativity is in the spotlight, with brands looking to differentiate themselves in a disrupted marketplace – it has never been a more exciting time to work in this field rich with opportunity. I am excited to join dentsu, Amit and the Creative teams, delighting clients and creating era defining work together.”<br />

Dentsu Creative appoints Ajay Gahlaut as Group Chief Creative Officer

<ul><li>Narayan Devanathan is now President - Strategy &amp; Integration for dentsu India &amp; Head - Strategy &amp; Consulting, APAC.</li><li>Shamsuddin Jasani &amp; Sidharth Rao also get additional roles.</li></ul>On the back of its global organisational redesign, dentsu international has created a new structure for its creative service line in India. The restructure will bring together some of India’s best agencies along with their digital &amp; PR capabilities - all from the house of dentsu - under one umbrella with an aim to provide a more collaborative and aligned offering to clients. The brands that will come together as part of this redesign as dentsu Creative include Dentsu Webchutney, Taproot Dentsu, WATConsult, Perfect Relations, Isobar, Dentsu One, Dentsu India and Dentsu Impact.<br /><br />With the eventual consolidation under the two strong global brands - dentsumcgarrybowen (dentsuMB) and Isobar, dentsu Creative will provide digital-native, brand-led, customer-centric, creative, and strategic solutions to clients, effortlessly. <br /><br />In India, the dentsu Creative service line will be led by Amit Wadhwa as its chief executive officer (CEO). Amit will be responsible for the integration, co-ordination, and implementation of the overall strategy for dentsu Creative in the market. He will lead the dentsu India creative service line leadership team, reporting into Anand Bhadkamkar and the regional dentsu Creative leadership. <br /><br />Sidharth Rao, in addition to his current responsibilities, will now also be in charge of the brand dentsuMB Group in India as its CEO. He will work with the leadership team on dentsuMB’s brand strategy for the market. Shamsuddin Jasani, who continues to oversee the Isobar brand in South Asia as its Managing Director (MD), will also take on an additional role at dentsu Creative. He will now work with the regional and global leadership teams to support the Isobar practice area and will work closely with the Isobar Global leadership team on the same. <br /><br />Speaking on the new development, Anand Bhadkamkar, CEO India said, “This global restructure is about consolidation of capabilities across our brands and businesses with an aim to bring the best of our services to our clients and provide those specialisms without any hassles. The idea is to ultimately stand true to our #OneDentsu strategy and thus, transform into a sharper and leaner business partner to brands. The changes in the India leadership team only reflects a step ahead in bolstering and scaling up our market ambitions. Amit, Sid and Shams are amongst the strongest creative leaders not just within dentsu but across industry; and with the kind of experience and knowledge backing them, I am certain that they will steer dentsu towards excellence not just in India but beyond.”<br /><br />The network has elevated Narayan Devanathan as President - Strategy &amp; Integration for India, in addition to his current role as CEO, dentsu Solutions. This new role is designed to support and achieve dentsu’s strategic objectives by defining, implementing, and driving growth and other vital initiatives for the market. He will continue to report into Anand Bhadkamkar for his additional responsibility as part of the India market leadership team. Meanwhile, Narayan will now also don a regional hat as APAC Head for the dentsu Creative Strategy &amp; Consulting practice. <br /><br />“Narayan has been instrumental in driving integration across our units and, as part of the South Asia integration initiatives, he will be supporting the Sri Lanka team in strategy and integration across the two markets. He will now be moving away from his current additional role as Chairperson, Creative Service Line for India and will take up a regional leadership role as APAC Lead - Strategy &amp; Consulting Practice in the creative service line. In this role, he will be working with the Regional and Global leadership teams within the creative service line to help develop the area of Strategy &amp; Consulting Practice in the APAC region,” Anand added.

Dentsu India consolidates eight agencies under dentsu Creative, brings digital and PR capabilities together; Amit Wadhwa to lead the new structure as CEO

<ul><li><keyword id="10032656" type="COMPANY" weightage="20" keywordseo="dentsu-international">dentsu International</keyword> is undergoing a massive global restructuring and will cut down around 6,000 jobs globally in the next two years.</li><li>It will also consolidate it's 160+ global brands to six global leadership brands.</li><li>We talk to <keyword id="7491447" type="PERSON" weightage="20" keywordseo="Anand-Bhadkamkar">Anand Bhadkamkar</keyword>, CEO, India, dentsu, who tells us the impact this global consolidation will have on its India business.</li></ul>Japanese advertising network dentsu International is undergoing a massive global restructuring. The company announced last week that as a part of its accelerated restructuring plans, it will cut down around 12.5% or roughly 6,000 jobs globally.<br /><br />In an official statement, a dentsu spokesperson said, “Consumer intelligence is at the heart of everything we do at dentsu international. We believe integrating our business around the consumer is the greatest advantage we can give our clients and the greatest competitive advantage we can give ourselves. We will do this by accelerating the transformation journey we started last year to simplify further how we operate, delivering even greater agility through a focused portfolio of six global leadership brands with prioritized investment and resources in capabilities of high client demand and growth. <br /><br />“In our H1 2020 financial results, we announced a comprehensive review of our business. As we work through this process, we will take the critical and necessary steps, that many other companies are, to address the impacts the global pandemic has had on our business and ensure we work closely with our people and our clients as we move through this period of accelerated transformation.”<br /><br />As a part of the restructuring, denstu will consolidate its 160+ brands into 6 consolidated leadership brands - Carat, <keyword id="4814486" type="COMPANY" weightage="20" keywordseo="Merkle">Merkle</keyword>, dentsu X, <keyword id="4120995" type="COMPANY" weightage="20" keywordseo="iProspect">iProspect</keyword>, dentsumcgarrybowen, and Isobar.<br /><br />Closer home, dentsu India Network currently has around 3,200 employees under its 20 agencies. In a recent conversation with Anand Bhadkamkar, CEO, India, dentsu, we tried to understand what the global restructuring will mean for dentsu in India, and whether employees in India need to worry about the proposed jobcuts.<br /><br />Excerpts:<br /><br /><strong>Q) Dentsu has announced a massive restructuring globally, which will also include around 6000 job cuts. What kind of impact will this have on dentsu India?</strong><br /><br />Globally, we are reorganizing our businesses under three service lines – Creative, Media and Customer Experience Management. Currently, on a global level, we have around 160 brands that are a part of the organization and dentsu is planning to bring that down to six global brands by the end of 2022. In India, along with the 6 brands, Carat, Merkle, dentsu X, iProspect, dentsumcgarrybowen, and Isobar, we will have Posterscope as an additional brand because OOH has been our strength over the last few years.<br /><br />Currently, almost 45% of our revenue is coming from Digital. While the pandemic affected OOH and Experiential really badly, things should start to come back to normal soon.<br /><br />The global restructuring is more about centralization of capabilities across service lines and we aim to achieve this over the next 2 years. The idea is to ultimately stand true to our One Dentsu strategy. Our focus will be on bringing the best of our services and capabilities to our clients and providing those specializations without any hassles.<br /><br />In India, increasingly we will invest in the high growth areas. We are quite strong on digital, be it performance, customer experience, social media or digital transformation journeys for our clients. We will continue investing in those areas. And as part of our overall business process, the underperforming teams or staff will be re-oriented.<br /><br /><strong>Q) So how concerned do your employees in India need to be, considering there are plans of job cuts globally?</strong><br /><br />Globally they need to restructure 160 brands to 6. In India, things won’t be as drastic because we have already started our consolidation journey. All our businesses are working closely, based on our One Dentsu strategy. It is more about re-investing in the high-growth areas. <br /><strong><br />Q) There is a talk that globally Dentsu will aim to reduce its focus on the traditional creative and media agencies and focus more on the data-focused businesses. Will the organization go a similar route in India too?</strong><br /><br />It is not about reducing focus on traditional creative or media versus data focused businesses, but working with the clients on solving their business problems. The focus is on partnering with clients to help them gain competitive advantage in the market. As a network, we are ideas-led, tech-enabled and data-driven, and that is at the core of everything Dentsu does. So, ideas will always remain at the center of whatever we do. The solution can be either through creative, digital or personalized experience, based on the client problem we need to solve. So overall our focus remains unchanged. However, the current year has led to a lot of changes. Consumer behavior has undergone a lot of change, adoption of digital has fast tracked which is resulting in the entire value-chain moving to digital platforms or e-commerce. So our focus and investments will be on coming up with the best solutions for our clients on their digital transformation journeys. A lot of our investments will go to Adtech, Martech, content creation, providing personalized solutions and experiences will be critical for us.<br /><br /><strong>Q) We’re almost at the end of 2020. As a leader, what will your key focus areas be in 2021?</strong><br /><br />2020 has been a challenging year, not just from a business but from a societal perspective. As an industry, we are seeing a de-growth of around 16-18%. So that has had an obvious impact on our business as we saw spends come down.<br /><br />However, we started seeing recovery from Q3, during IPL and the festive period. The last quarter has been even better than we anticipated. Some of our agencies have also recovered much faster. And, our digital businesses have been doing well. So while overall the year has been muted, we have seen much faster recovery.<br /><br />For 2021, our focus will remain on the high-growth areas – digital, providing relevant data driven solutions for clients and creating relevant experiences for consumers with investments in ad-tech, martech. We will also focus on e-commerce which we've been working on extensively with a lot of our clients across brands. Last year, there was also a lot of focus on voice, video and vernacular, and that will continue to remain a key focus area because it became even more relevant in this pandemic year. We are also seeing gradual recovery of OOH so we will also focus on Digital OOH next year. <br />

Here’s what dentsu’s global restructuring will mean for India

<ul><li><keyword id="11892772" type="UNKNOWN" weightage="20" keywordseo="dentsu-india" source="Orion">Dentsu India</keyword> brings together <keyword id="11893852" type="UNKNOWN" weightage="20" keywordseo="data-transformation" source="Orion">Data Transformation</keyword>, Digital Transformation, and CX Consulting into one unit. </li><li>Anubhav Sonthalia will lead <keyword id="11893851" type="UNKNOWN" weightage="20" keywordseo="dentsu-cxm" source="Orion">dentsu CXM</keyword> in India as its Chief Executive Officer (CEO) in addition to serving his current role as CEO, <keyword id="11892768" type="UNKNOWN" weightage="20" keywordseo="sokrati" source="Orion">Sokrati</keyword>.</li></ul>Following the restructure of its creative and media businesses in India, <keyword id="11893853" type="UNKNOWN" weightage="20" keywordseo="dentsu" source="Orion">dentsu</keyword> has now announced the launch of a unified <keyword id="11892771" type="UNKNOWN" weightage="20" keywordseo="merkle" source="Orion">Merkle</keyword>-led CXM proposition in the market. The announcement brings together Data Transformation, Digital Transformation, and CX Consulting into one unit to create the most specialised CX practice in India under brand Merkle.<br /><br />Part of the network’s global organisational redesign, the <keyword id="11893850" type="UNKNOWN" weightage="20" keywordseo="dentsu-india-CXM" source="Orion">dentsu India CXM</keyword> business will now house the agencies - Sokrati, Fractal Ink Design Studio and Merkle B2B, under one umbrella. Anubhav Sonthalia will lead dentsu CXM in India as its Chief Executive Officer (CEO) in addition to serving his current role as CEO, Sokrati. He will continue to report into Anand Bhadkamkar, CEO, dentsu India, and Z Shen, CEO, dentsu CXM, APAC.<br /><br />Anubhav will be responsible for the integration, co-ordination, and implementation of dentsu CXM's overall strategy across the country. The CXM business will be aimed at building differentiated customer experiences through data, design &amp; technology transformations, and will work with partners like <keyword id="11892769" type="UNKNOWN" weightage="20" keywordseo="salesforce" source="Orion">Salesforce</keyword>, Adobe, <keyword id="11893854" type="UNKNOWN" weightage="20" keywordseo="google-cloud-" source="Orion">Google Cloud &amp;</keyword> AWS.<br /><br />Speaking on the launch, Anand Bhadkamkar said, "Keeping up with our #onedentsu strategy, the new CXM business will help us move closer towards our growth journey. CXM is growing rapidly, and it is soon expected to become 35% of our overall business in India. By 2025, we project that this growing field will have a 50% contribution to our business. With this new CXM line of business, our clients will see a host of benefits as it will be a one-stop solution for all their CXM needs. I have complete faith in Anubhav’s leadership and in CXM to create numerous opportunities for clients as well as for the network.”<br /><br />Commenting on his new role, Anubhav Sonthalia added, “I am looking forward to leading dentsu India CXM and to develop newer strategies to up our customer experience game. We aim to provide world-class services to our clients and prioritise data-driven experiences &amp; personalisation of the entire end-to-end customer experience. Our key focus will be to create a holistic view for the clients, and a focused strategy for delivering personalised experiences that they demand.”<br />

Dentsu India CXM to house agencies Sokrati, Fractal Ink Design Studio and Merkle B2B, under one umbrella

<p>Hi! Welcome to the Insider <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">Advertising</keyword> daily for December 10. I'm Lauren Johnson, a senior advertising reporter at Business Insider. <a href="http://newsletter.businessinsider.com/join/4np/insider-advertising">Subscribe here to get this newsletter in your inbox every weekday.</a> Send me feedback or tips at <a href="mailto:ljohnson@businessinsider.com">LJohnson@businessinsider.com</a>.</p><p><strong>Today's news:</strong> The FTC calls for <keyword id="6354576" type="UNKNOWN" weightage="60" keywordseo="facebook">Facebook</keyword> to be broken up, <keyword id="6354616" type="UNKNOWN" weightage="60" keywordseo="Twitter">Twitter</keyword> audits brand-safety tools, and Dentsu staffers worry about job cuts.</p><h3></h3><h3><a href="https://www.businessinsider.com/facebook-antitrust-suit-instagram-whatsapp-deal-ftc-states-2020-12">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a></h3><ul><li><a href="https://www.businessinsider.com/facebook-antitrust-suit-instagram-whatsapp-deal-ftc-states-2020-12">Facebook was hit on Wednesday with two big antitrust lawsuits, one from the Federal Trade Commission and one from 48 state attorneys general.</a></li><li>The lawsuits are seeking a breakup of Instagram and WhatsApp from Facebook.</li><li>The lawsuits allege that Facebook used a strategy of neutralizing competitors before they could threaten the company's dominance of the social-media market. </li></ul><h3><a href="https://www.businessinsider.com/facebook-antitrust-suit-instagram-whatsapp-deal-ftc-states-2020-12">Read the full story here.</a></h3><h3><a href="https://www.businessinsider.com/twitter-brand-safety-audit-mrc-research-2020-12"><div type="image" title="twitter logo" height="3334" width="4445" msid="79653580" hostid="261"></div></a></h3><h3><a href="https://www.businessinsider.com/twitter-brand-safety-audit-mrc-research-2020-12">Twitter lays out the steps it's taking to make advertisers feel safe on its platform</a></h3><ul><li><a href="https://www.businessinsider.com/twitter-brand-safety-audit-mrc-research-2020-12">Lara O'Reilly reports on how Twitter is trying to get its brand safety controls and measurement metrics independently audited by the Media Rating Council.</a></li><li>The company is also set to announce partnerships with third-party <keyword id="4361753" type="PERSON" weightage="60" keywordseo="Brand-safety">brand safety</keyword> software firms and conducting research into how consumers view ads when they appear next to unsavory content.</li><li>Advertisers have long pushed tech platforms for more controls to help steer their ads away from harmful content.</li></ul><h3><a href="https://www.businessinsider.com/twitter-brand-safety-audit-mrc-research-2020-12">Read the full story here.</a></h3><h1><a href="https://www.businessinsider.com/dentsu-employees-react-to-job-cuts-reorg-around-merkle-2020-12"><div type="image" title="Wendy Clark" height="2343" width="3124" msid="79653583" hostid="261"></div></a></h1><h3><a href="https://www.businessinsider.com/dentsu-employees-react-to-job-cuts-reorg-around-merkle-2020-12">At advertising giant Dentsu, people worry about huge job cuts and mull the growing influence of data agency Merkle</a></h3><ul><li>Japan-based ad holding company Dentsu is laying off 6,000 people, or 12.5%, and restructuring.</li><li><a href="https://www.businessinsider.com/dentsu-employees-react-to-job-cuts-reorg-around-merkle-2020-12">We talked to employees who say they're worried about job cuts and speculate that Dentsu is betting on its performance-marketing business Merkle while folding or merging most of its other agencies.</a></li><li>Dentsu will create three practice areas to be led in the Americas by executives from Dentsumcgarrybowen, Merkle, and 360i.</li></ul><h3><a href="https://www.businessinsider.com/dentsu-employees-react-to-job-cuts-reorg-around-merkle-2020-12">Read the full story here.</a><a href="https://www.businessinsider.com/some-influencers-have-ghostwriters-to-respond-to-onlyfan-messages-2020-12"></a><a href="https://www.businessinsider.com/some-influencers-have-ghostwriters-to-respond-to-onlyfan-messages-2020-12"></a></h3><h3>More stories we're reading:</h3><ul><li><a href="https://www.businessinsider.com/how-much-money-tiktok-influencers-get-paid-for-brand-sponsorships-2020-12">How much money TikTok stars make from brand deals, according to 9 creators</a> (Business Insider)</li><li><a href="https://www.businessinsider.com/some-influencers-have-ghostwriters-to-respond-to-onlyfan-messages-2020-12">The influencer industry's latest open secret: using ghostwriters to respond to OnlyFans messages</a> (Business Insider)</li><li><a href="https://www.businessinsider.com/starbucks-mellody-hobson-non-executive-chair-board-2020-12">Starbucks taps Mellody Hobson - on the Biden cabinet short-list - as board chair, making her the only Black female director among the largest companies in America</a> (Business Insider)</li><li><a href="https://www.axios.com/google-election-ad-ban-lifted-georgia-a22c86e0-eefa-4eb6-a9a8-d63450512d07.html">Scoop: Google to lift post-election political ad ban on Dec. 10 </a>(Axios)</li><li><a href="https://www.adweek.com/programmatic/brian-lesser-ceo-infosum/">Brian Lesser named CEO of InfoSum</a> (Adweek)</li><li><a href="https://www.hollywoodreporter.com/live-feed/meditation-app-headspace-gets-its-own-netflix-show">Meditation app Headspace gets its own Netflix show</a> (Hollywood Reporter)</li></ul><p>Thanks for reading and see you tomorrow! You can reach me in the meantime at <a href="mailto:ljohnson@businessinsider.com">LJohnson@businessinsider.com</a> and <a href="http://newsletter.businessinsider.com/join/4np/advertising-insider">subscribe to this daily email here.</a></p>

Facebook needs to spin off Instagram and WhatsApp, say 2 big new lawsuits

<p>Hello and welcome back to the <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">Advertising</keyword> and <keyword id="6354777" type="COMPANY" weightage="60" keywordseo="Media">Media</keyword> Insider, your weekly industry news roundup. Hope you got to enjoy the long weekend despite the strange reality we're all living in. I'm Tanya Dua, a senior advertising reporter filling in for Lucia this week. If you're new to this email, sign up for your own <a href="http://newsletter.businessinsider.com/join/4np/advertising-media-weekly&amp;hash=f4e91136c13f3c40c496d77bc73475027502">here.</a> </p><p>First, a reminder that the deadline to nominate people for Business Insider's annual list of the most innovative CMOs is end of day on Wednesday, May 27. Submit your nomination <a href="https://www.businessinsider.com/seeking-nominations-for-the-most-innovative-cmos-in-the-world-2020-5">here</a>.</p><h2>Inside WPP-owned Hill + Knowlton's decades-long slide — and reboot</h2><p>Founded in 1927, Hill + Knowlton used to be considered a global PR juggernaut. But over the past decade, a string of big account losses, headcount reductions and frequent restructurings precipitated its slide — and the coronavirus only made things worse.</p><p>But the WPP-owned agency has been trying to plot a comeback by changing how it charges clients, investing in creative and digital work, and shaking up its leadership, as my colleague <a href="https://www.businessinsider.com/hill-knowlton-strategies-struggles-to-turnaround-us-business-2020-5">Sean Czarnecki reported.</a></p><p>Sean also got ahold of documents revealing the new billing rates that Hill + Knowlton hopes will help turn around its US business, which has been fading for years.</p><p><strong>Go deeper: </strong></p><ul><li><strong><a href="https://www.businessinsider.com/hill-knowlton-strategies-struggles-to-turnaround-us-business-2020-5">How constant restructuring crippled Hill + Knowlton's US business and what the WPP PR agency is doing to turn itself around</a></strong></li><li><strong><a href="https://www.businessinsider.com/how-much-hill-knowlton-strategies-charges-clients-based-on-title-2020-5">Leaked documents show what WPP's PR firm Hill + Knowlton Strategies is charging clients for 2020</a></strong></li></ul><h2><strong>The 12 media companies and platforms whose businesses are most likely to change due to the pandemic</strong></h2><p><strong><div type="image" title="Watching TV streaming app smartphone Roku HBO Go" height="1414" width="1885" msid="76017620" hostid="261"></div></strong></p><p>With advertisers cutting spending during the coronavirus pandemic, ad buyers have also started scrutinizing media companies and publishers in greater detail as they decide where to spend their clients' money.</p><p><a href="https://www.businessinsider.com/16-ad-buyers-talk-about-coronavirus-impact-on-media-companies-2020-5">Lauren Johnson spoke with 16 ad buyers</a> who said that the current environment has sped up changes that have been taking place in the ad industry in recent years, including a shift to over-the-top advertising and publisher consolidation.</p><p>Some of the winners? <keyword id="260928" type="COMPANY" weightage="60" keywordseo="Roku">Roku</keyword>, <keyword id="18635" type="CITY" weightage="60" keywordseo="Amazon">Amazon</keyword>, Peacock, and Fox.</p><p><strong>Read more: <a href="https://www.businessinsider.com/16-ad-buyers-talk-about-coronavirus-impact-on-media-companies-2020-5">16 ad buyers tell us which media companies are poised to benefit the most in the pandemic, like Roku and Fox</a></strong></p><h2>Here are other great reads from around media, marketing, and advertising:</h2><ul><li><a href="https://www.businessinsider.com/panera-bread-hires-kraft-heinz-vet-as-chief-brand-officer-2020-5">Panera Bread has hired former Kraft Heinz CMO Eduardo Luz as its chief brand and concept officer</a></li><li><a href="https://www.businessinsider.com/instacart-launches-self-serve-advertising-platform-2020-5">Instacart quietly launched a new advertising tool to compete with Walmart and Amazon as online grocery shopping surges</a></li><li><a href="https://www.businessinsider.com/cmo-and-former-apple-executive-allison-johnson-leaves-paypal-2020-5">PayPal parts ways with CMO and former Apple executive Allison Johnson after 18 months</a></li><li><a href="https://www.businessinsider.com/the-atlantic-cut-20-of-staff-despite-subscriptions-growth-analysis-2020-5">Why The Atlantic cut 17% of staff despite having a subscriptions surge and billionaire backer</a></li><li><a href="https://www.businessinsider.com/1-800-flowers-cmo-on-increasing-ad-spending-during-coronavirus-2020-5">The CMO of 1-800-Flowers reveals how it's adapting its business and advertising as people send more flowers during the pandemic</a></li><li><a href="https://www.businessinsider.com/how-much-money-youtube-creators-influencers-make-a-month-year-2020-5">$220,000 from YouTube last year: How a personal-finance creator went from filming videos in a Walmart parking lot to a lucrative career</a></li><li><a href="https://www.businessinsider.com/how-the-6-top-ad-holding-companies-plan-return-work-2020-5">CEOs of the biggest ad holding companies including Omnicom and Dentsu say offices will reopen slowly and staffers won't be required to come back</a></li><li><a href="https://www.businessinsider.com/spotify-acquires-joe-rogans-podcast-show-analysis-2020-5">Joe Rogan's blockbuster deal with Spotify is the streaming giant's biggest signal that it wants to dominate podcasting. Here's what it means for other show personalities and advertisers.</a></li><li><a href="https://www.businessinsider.com/youtube-talent-managers-share-secrets-details-and-of-their-jobs-2020-5">YouTube managers reveal the secret details of their jobs working with influencers, from dealing with hackers and breakups to locating rare animals</a></li><li><a href="https://www.businessinsider.com/facebook-verified-doctors-share-false-info-on-coronavirus-vaccines-2020-5">Doctors with verified Facebook accounts are sharing COVID-19 misinformation with their hundreds of thousands of followers</a></li></ul><p>Have a great rest of your week.</p><p>— Tanya</p>Read the original article on <a href="https://www.businessinsider.com/media-winners-and-losers-during-the-pandemic-newsletter-2020-5">Business Insider</a>

Inside PR firm Hill + Knowlton's turnaround effort, and which media companies and platforms are poised to benefit from the pandemic

<p class="source"><span>Reuters</span></p><p class="caption">Mark Read, chief executive of WPP, leaves following the AGM in London, 2018.</p><ul class="summary-list"><li>WPP and its holding company rivals faced significant headwinds going into 2019: Clients cut budget and digital ad buys dominated by Google and Facebook overtook traditional channels for the first time.</li><li>To counter these trends, WPP restructured its most valuable property, media-buying network GroupM.</li><li>WPP merged several properties and closed some small agencies in the US.</li><li>It also sold a majority stake in market research firm Kantar to Bain Capital for around $4 billion and sued to recover money lost in a previous acquisition.</li><li>WPP tried to grow new revenue streams with a division that helps clients take their marketing work in-house.</li><li>And while WPP won several pieces of new business this year, it also lost business with longtime clients Johnson &amp; Johnson and Kimberly-Clark. </li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories.</a></li></ul><p>2019 was filled with dramatic changes for the advertising industry. Spending on digital ads overtook traditional media like print and broadcast TV for the first time in the culmination of a yearslong trend as Google, Facebook, and now Amazon command an ever-larger share of big brands' budgets.</p><p>Mergers and acquisitions continued apace. Most prominent were the consulting firm Accenture buying creative agency Droga5 for about $450 million and holding company Publicis Groupe paying $4.4 billion for data management firm Epsilon.</p><p>WPP still dominates the ad world as the biggest holding company, and that scale brings attendant challenges: The company's stock has lost about 45% of its value since its all-time high in 2015.</p><p>CEO Mark Read took a number of significant steps over the past 12 months that offer an overview of the ad industry's ongoing evolution as his three-year plan to streamline the sprawling global network takes shape.</p><p><strong>He restructured the company's most valuable property: </strong><a href="https://www.businessinsider.com/wpp-reshaping-groupm-in-the-image-of-google-agency-essence-2019-11">WPP just announced a big shake-up at its giant ad-buying network, GroupM</a></p><p>Read shook up WPP's most important network, GroupM, in July by promoting Christian Juhl to global CEO; Juhl previously led Essence, which buys digital ads for Google. In early November, Business Insider broke the news that GroupM North American CEO Tim Castree <a href="https://www.businessinsider.com/ceo-of-wpps-groupm-north-america-leaves-after-one-year-2019-11">had left after less than a year</a>, and sources attributed his departure to the company's struggles in its largest market.</p><p>Later that month, Juhl named four new executives and merged GroupM's ad tech and software divisions, mPlatform and 2Sixty, in another attempt to streamline operations. Essence had long outperformed other WPP companies, and <a href="https://www.businessinsider.com/wpp-reshaping-groupm-in-the-image-of-google-agency-essence-2019-11">a source told Business Insider</a> that Juhl aims to remake GroupM in its image. </p><p><strong>More mergers and agency closures in North America</strong>: <a href="https://www.businessinsider.com/wpp-wunderman-thompson-will-absorb-several-additional-agencies-2019-11">Ad holding company WPP is continuing its consolidation spree with the Wunderman Thompson network absorbing 3 more agencies</a></p><p>The most visible element of Read's streamlining strategy has involved hybrid mergers of digital and traditional agencies: In late 2018, VML and Y&amp;R combined to form VMLY&amp;R, and Wunderman and J. Walter Thompson became Wunderman Thompson.</p><p>That trend continued throughout this year. In November, Business Insider broke the news that Wunderman Thompson would absorb three additional agencies. About one month later, WPP <a href="https://www.businessinsider.com/wpp-consolidation-shut-down-istrategylabs-jwt-inside-2019-12">confirmed that it would close</a> one of those agencies, iStrategyLabs, along with a division of Wunderman Thompson called JWT Inside that created recruiting campaigns for the US State Department and T-Mobile. The two organizations employed around 60 people, but their revenues had declined in recent years.</p><p><strong>Shedding "non-core" assets and suing to recoup lost investments: </strong><a href="https://www.businessinsider.com/wpp-lawsuit-claims-former-walmart-agency-inflated-value-120-million-2019-11">A lawsuit over an agency that allegedly inflated its worth by $120 million reveals Walmart's earlier struggle to build an ad business</a></p><p>Most holding companies have spent billions to acquire data capabilities in recent years, but WPP went in the opposite direction in 2019 by aggressively shedding "non-core" assets like sports-focused marketing firms Chime and Two Circles. The most prominent divestiture was Kantar, an assortment of research, insights, and consulting businesses founded in 1992. WPP sold a majority stake in Kantar to Bain Capital Private Equity in a deal that closed this month and valued Kantar at $4 billion.</p><p>In another sign of financial crackdown, WPP <a href="https://www.businessinsider.com/wpp-lawsuit-claims-former-walmart-agency-inflated-value-120-million-2019-11">filed a lawsuit</a> alleging that Triad Retail Media, an agency acquired in 2016, had inflated its own value by more than $120 million.</p><p><strong>Looking for new revenue streams</strong>: <a href="https://www.businessinsider.com/ad-holding-companies-are-developing-onsite-units-to-stay-competitive-2019-11">Ad agency giants WPP and Dentsu are fighting in-housing - by helping brands adopt the trend</a> </p><p>In 2019, WPP made the seemingly counterintuitive decision to more aggressively promote a service called Wunderman Inside that helps clients do more of their marketing work internally. The practice has existed since 2018, but this year WPP joined rival Dentsu in positioning such services as alternate sources of revenue in response to client budget cuts and an increase in short-term contracts.</p><p>The move showed that agencies are looking for money wherever they can get it, but WPP downplayed the overall importance of the in-housing trend, with Wunderman Thompson Inside managing director James Sanderson telling Business Insider, "We're not lying awake at night worrying about in-housing."</p><p><strong>Big spenders moving their budgets elsewhere: </strong><a href="https://www.businessinsider.com/wpp-closes-division-dedicated-to-marketing-johnson-and-johnson-brands-2019-10">WPP just lost a huge chunk of one of its oldest, most valuable accounts, Johnson &amp; Johnson</a></p><p>WPP won several critical pieces of business from Mondelez, eBay, Google, and Electronic Arts toward the end of 2019, and its finances improved in turn.</p><p>But in October, Business Insider reported that the consumer goods division of Johnson &amp; Johnson had restructured its marketing and shifted top brands like Listerine and Tylenol to rival MDC Partners. WPP kept the larger pharmaceutical portion of its J&amp;J account, but closed the division launched to service that company in 2018. Less than one month later, Accenture and Droga5 won Kimberly-Clark's child and baby-care portfolio in the US, Europe, and the Middle East.</p><p>WPP retained the baby business in Canada and Asia, but the loss encapsulates the complexities faced by holding companies in 2019 and beyond.</p>            <h3>NOW WATCH: <a href="https://www.businessinsider.com/bill-gates-warren-buffett-billionaires-donate-money-2017-10">On Giving Tuesday, see how Bill Gates and Warren Buffett are changing the world like no other humans in history</a></h3>

These 5 trends defined a turbulent year for the world's biggest advertising company, WPP

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>YouTube</span></p></div><p></p></div></div></p><ul class="summary-list"><li>WPP CEO Mark Read outlined a turnaround plan Tuesday to simplify the company's organization, revive growth, and further integrate creative, digital, and <keyword id="6354777" type="COMPANY" weightage="60" keywordseo="Media">media</keyword> functions.</li><li>The plan involves cutting about 3,500 jobs, or more than 2.6% of WPP's global workforce over the next three years, and delivering 15% margins by 2021.</li><li>WPP seems to be bracing itself for competition with consulting firms and some of its new client approaches seem to be working.</li></ul><p>WPP is no longer an ad holding company; instead, it's a "creative transformation company."</p><p>That's how CEO Mark Read positioned the ad network giant at the company's investor day Tuesday in London, while outlining a turnaround plan for the company seeking to revive growth.</p><p>Among the key pillars of WPP's plan:</p><ul><li>Cutting about 3,500 jobs, or more than 2.6% of WPP's global workforce over the next three years</li><li>Streamlining its global structure and delivering 15% margins by 2021 </li><li>Spending an additional £15 million ($18.7 million) a year in tech assets and creative talent - especially in the US</li><li>Organizing WPP as a tech platform and consolidating its technical capabilities into WPP Technical Services</li></ul><p>"We describe our approach as 'radical evolution': radical because we are taking decisive action and implementing major change; evolution because we will achieve this while respecting the things that make WPP the great company it is today," Read said in a statement.</p><p>At first glance, the steps may seem to be aimed at simplifying the organization, improving efficiencies and reviving growth, but here are some bigger takeaways: </p><h2>WPP is done consolidating - and that's not necessarily a good thing</h2><p>While speculation was rife about more potential mergers on the heels of <a href="https://www.businessinsider.com/ad-industry-executives-sound-off-on-jwt-and-wunderman-merger-2018-11">Wunderman Thompson</a> and VMLY&amp;R, WPP insisted there were no more mergers in the foreseeable future.</p><p><em><strong>Read More: </strong><a href="https://www.businessinsider.com/ad-industry-executives-sound-off-on-jwt-and-wunderman-merger-2018-11">'There are no sacred cows': Ad industry execs sound off on what WPP's agencies J. Walter Thompson and Wunderman merging means for the future of the industry</a></em></p><p>Read said WPP's biggest changes have already happened in the form of the aforementioned mergers, which he described as tough choices. "We can't be nostalgic about brands that have been around, and we have not been," he said.</p><p>But for some industry analysts, the changes - as well as the broader strategy - while welcome, are not enough.</p><p>"I am surprised and was anticipating more moves like that (VMLY&amp;R and Wunderman Thompson). I don't know that this goes far enough," Forrester analyst Jay Pattisall told Business Insider. "Integrating Essence with a digital creative agency like AKQA, for example, would be a strong move to provide their clients more value through data driven strategy, solutions and activations."</p><p>In a note by investment bank Liberum, analysts said that WPP could have targeted more cost savings. </p><p>"We give a cautious welcome to the new strategy announced this morning but feel it could have been more ambitious and wide-ranging," read the note. "Our view is they could have done more here - we thought £500m [per year] was a reasonable figure (with £500m of restructuring costs) based on a 5% reduction in the staff numbers and property savings."</p><h2>WPP is getting serious about competing with consultancies</h2><p>Giant consulting firms like Accenture and Deloitte have been increasingly encroaching on agencies' turf, with several even <a href="https://www.businessinsider.com/why-you-would-never-see-the-worlds-largest-digital-ad-agency-making-ads-for-olive-garden-according-to-its-head-2018-3"><span>buying their way into advertising through creative acquisitions.</span></a></p><p><span>Consulting firms claim that their expertise in tech and business strategy, data, and logistics helps them meet the needs of modern CEOs and CMOs far better than ad agencies. </span></p><p>WPP seems be well aware of this threat, with Read and WPP CTO Stephan Pretorius underscoring how the company was preparing itself for the competition by prioritizing tech.</p><p>Pretorius said WPP was organizing itself as a data business by investing in an open data platform and AI, and by consolidating its tech stack and creating a network-wide platform to power its agencies.</p><p>"Here's where we compete with the Accentures, Deloittes, and Capgeminis - and can show that we're not laggards, but clear leaders in the area," said Pretorius.</p><p>By taking a page out of consulting firms' playbook, WPP is ensuring that it's better prepared for the future, said analysts.</p><p>"This is absolutely necessary because it's quickly becoming table stakes in the agency category," said Pattisall. "Publicis, Omnicom and Dentsu Aegis have all implemented similar strategies and their platforms appear to have a substantial headstart."</p><p>Meanwhile Pivotal's Brian Wieser said that WPP was "straddling the line between what an agency is and what an IT services firm is" - which is an important sphere for the holding company to be in.</p><h2>Parts of WPP's plan are apparently already working</h2><p>WPP leadership also gave examples of how its new positioning and approaches such as co-locating agency talent inside clients' offices as marketers seek to take more work in-house is working out well, said its chief client officer Lindsay Pattison.</p><p>Such efforts are improving collaboration and helping WPP win new business, said Read, pointing at <a href="https://adage.com/article/agency-news/vw-tk/315719/">WPP winning Volkswagen's creative account in North America</a>. WPP plans to continue to strengthen its offerings in the areas of communications, experience, commerce and technology.</p><p>WPP agencies are also deepening their relationships with clients beyond traditional communications, developing products as well, said Pattison. WPP worked with Unilever, for example, to co-create products like a "Day2" dry-wash spray for clothes - an idea that came out of an insight from WPP's Kantar.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/beards-facial-hair-men-cant-grow-dermatologist-testosterone-2018-11">The reason some men can't grow full beards, according to a dermatologist</a></h3>        <div>                    </div>    </div>

The 3 biggest takeaways from WPP's 'radical evolution' turnaround plan

<p><div class="KonaFilter image-container display-table"><div><div class="image"></div></div></div></p><ul class="summary-list"><li>Amazon is seeking to fill some 190 <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> jobs in New York.</li><li>With ongoing layoffs and restructuring impacting ad-tech, media companies and agencies, Amazon is seen as a big hirer for these roles.</li><li>Amazon is luring talent with compensation packages that favor high base salaries and low commissions.</li><li>Amazon was also reportedly recently interested in moving into New York offices near some of the agency giants.</li><li><a href="https://www.businessinsider.com/prime?module=article&amp;area=summary">Click here for more BI Prime stories.</a></li></ul><p>Amazon has big advertising ambitions, and it's coming after Madison Avenue's talent to realize them.</p><p>Amazon trailed Facebook and Google in rolling out ads for fear of annoying consumers, but it's now hiring in earnest. As of the week of June 17, its site listed about 190 full-time jobs open in New York, the epicenter of the ad industry, ranging from account executives to copywriters to a <a href="https://www.amazon.jobs/en/jobs/864879/head-of-ott-partnerships">head of OTT partnerships.</a></p><p>Last month, Amazon was reportedly looking at <a href="https://gothamist.com/2019/05/28/amazon_manhattan_west.php">new office space</a> at One and Two Manhattan West, nearby to commuter-heavy Penn Station and within a 20-block radius of major holding companies such as Omnicom, Dentsu, and Publicis.</p><p>"They're quietly building up the Manhattan garrison," said Jon Reily, VP and global commerce strategy lead at Publicis Sapient, an agency of the holding company Publicis, and a former Amazon e-commerce exec.</p><h2>Amazon is hiring for big advertising roles</h2><p>A scan of Amazon's advertising job postings shows that it's hiring for roles aimed at brands and agencies, and it comes at a time of <a href="https://www.businessinsider.com/media-agency-strategy-fighting-back-against-model-and-profit-margin-threats-2018-9">a lot of volatility at agencies</a>.</p><p>Out of the 190 open roles, 86 are for Amazon's self-serve performance marketing tool that marketers use to buy search and display ads on Amazon.com. Another 21 positions would focus on IMDb TV, Amazon's recently renamed ad-supported streaming service.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/verizon-toyota-test-ads-on-amazons-freedive-2019-1">Big brands like Verizon and Toyota are backing Amazon's Freedive as the e-commerce giant pushes deeper into OTT advertising</a></em></p><p>People working on the self-serve platform tend to be aimed at brands that sell and promote items on Amazon like retailers and consumer-packaged goods, which requires deep expertise of where brands sell products on and off Amazon. The IMDb TV roles, in contrast, are more technical, akin to those employed at ad-tech companies.</p><p>"While they're both ad products, they represent very different types of people and talent," said Ari Lewine, co-founder and chief strategy officer at ad-tech firm TripleLift.</p><p>Across the board, Amazon is also hiring salespeople focused on specific verticals, including an open position to sell to financial service marketers - mimicking a tactic that big platforms like Facebook have used for years to make inroads with specific types of advertisers.</p><h2>Amazon flips the script on commissions</h2><p>Amazon favors bigger base salaries and less commission for salespeople compared to ad-tech and media companies, say advertising sources and recruiters. Rajeev Goel, CEO of ad-tech firm PubMatic, said senior sales roles at an ad-tech company are typically paid with half their salary coming from base, half from commission. For more junior employees, the mix is 70% base, 30% commission.</p><p>While Amazon's paying bigger base salaries means less pressure to hit incremental sales goals, it rewards employees for consistently delivering sales results.</p><p>"Amazon's compensation is totally different than other other tech company and it's almost customizable," said Richard Lear, managing partner at Vantage Partners, a recruiting firm that has helped fill data science roles at Amazon but has not worked with Amazon's advertising department.</p><p>TripleLift's Lewine said that the de-emphasis on commissions could reflect how Amazon takes its time to build ad products that are built with the user in mind.</p><p>"The sales job is very different working at Amazon than it is at any other company or a smaller, unknown company that isn't sitting on arguably one of the most valuable data sets ever," he said.</p><h2>Amazon could benefit from instability in media and advertising</h2><p>As ad tech, media companies, and agencies face consolidation and layoffs, Amazon could benefit from a glut of unemployed talent, said several ad-tech sources. Amazon's recent acquisition of part of bankrupt ad-tech firm Sizmek already gave it access to ad-tech talent and Sizmek's clients.</p><p>"There's a macro-level question about where are all of these people going to go," Lewine said. "The only clear, large-scale hirer when you counter-balance <a href="https://www.businessinsider.com/vice-media-layoffs-amid-lower-revenue-and-traffic-slump-2018-11"><span>Vice,</span></a> Oath, <a href="https://www.businessinsider.com/refinery29-is-laying-off-10-of-staffers-citing-challenges-with-short-form-videos-2018-10"><span>Refinery29,</span></a> [and] Sizmek is Amazon."</p><p>According to one Amazon Advertising employee who spoke on background because they were not authorized to talk to the press, more creatives are moving to tech firms like Facebook and Amazon as agencies face growing competition from publishers, consultants, and marketers' in-house teams.</p><p>"The ad agency model is being more disrupted from all over the place," the employee said. "That's caused a lot of volatility in the job market of agencies, which has caused many creatives to look for calmer waters."</p><p><span><strong><em>Read more: </em></strong><a href="https://www.businessinsider.com/amazon-acquires-sizmeks-ad-server-to-compete-with-google-2019-5"><em>Amazon is acquiring an ad server from bankrupt ad-tech firm Sizmek, giving it a new tool to compete head-on with Google. Here's what it means for marketers.</em></a></span></p><p>Observers had mixed views on how successful Amazon will be in filling sales and marketing roles, though.</p><p>Goel said that he's not worried about Amazon because he's seen it hiring mostly engineers versus sales and marketing roles. In fact, <span>Goel said PubMatic is growing its headcount by 20% with 100 hires this year. TripleLift also said that it plans to hire more than 200 employees this year across all departments.</span><span></span></p><h2><span>Amazon isn't a fit for everyone, though</span></h2><p>Amazon also has a reputation for having a rigorous hiring process and chaotic management. It uses a <a href="https://www.fastcompany.com/40542717/heres-what-it-takes-to-get-hired-at-amazon">method called Loops,</a> where potential hires meet with a variety of Amazon employees that they may or may not end up working with to suss out if a hire will fit into the culture.</p><p>"They're rigorous," Vantage Partners' Lear said of the cycles. "It's a classic [way] of viewing someone from as many angles as possible who may be coming in."</p><p>Several ad-tech companies referenced a <a href="https://www.nytimes.com/2015/08/16/technology/inside-amazon-wrestling-big-ideas-in-a-bruising-workplace.html">2015 investigation by The New York Times</a> into Amazon's culture and work environment as a selling point in attracting talent.</p><p>"Amazon needs to demonstrate that they can offer what creative people are looking for - a nimble, entrepreneurial environment where they feel like their work serves a purpose, is appreciated, and supports learning," said Louise Peddell, VP of human resources at Undertone.</p><p>On the other hand, Publicis Sapient's Reily called Amazon's culture's "kind of like a religious experience," and one that he feels proud to be a part of even though he doesn't work at Amazon anymore.</p><p>"Amazonians are very proud to be Amazonians and they they feel like they're changing the world," he said. "That spirit moves through the whole company."</p><p class="tagline"><a href="https://www.businessinsider.com/intelligence/40-big-tech-predictions-for-2019?IR=T&amp;itm_source=businessinsider&amp;itm_medium=ctgr_bii&amp;itm_term=ctgr_leadgen&amp;itm_content=amazon&amp;itm_campaign=40-big-tech-predictions-for-2019"></a></p>

Amazon is coming for Madison Avenue's talent, and it could be another blow to embattled agencies and ad-tech companies

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Neil Hall/Reuters</span></p></div><p></p></div></div></p><ul><li><strong>Agencies must transform their business models to meet the needs of modern CMOs, according to a new industry report.</strong></li><li><strong>As they evolve their business models, they must keep clients at the center, scale critical capabilities and execute on creative efficiently.</strong></li></ul><p>As chief marketing officers increasingly must help steer their companies through massive disruption, their needs from their agencies are changing rapidly.</p><p>Agencies today must not only provide communication, creative and media services - but also come armed with broader business and technology strategy as well as data and analytics expertise.</p><p>That requires a whole new business model, according to <a href="https://www.forrester.com/report/Agency+Holding+Companies+Need+A+Brave+New+Business+Model/-/E-RES143351">a new report</a> by market research firm Forrester, based on interviews with 50 CMOs as well as agency and consultancy executives. This new model must put clients at the center, scale critical capabilities and execute on creative efficiently.</p><p>"Clients now require partners who can help in not just marketing, but also business transformation," Rishad Tobaccowala, chief growth officer at Publicis, told Business Insider. "This doesn't necessarily mean doom, it means that for companies that change and adapt, this is a growth opportunity."</p><p>Here's how agency holding companies can embrace a new business model suited to their clients' changing demands:</p><h2>By taking charge and creating agile teams, fast</h2><p>The modern CMO needs agency partners that can tackle a range of marketing problems - and fast, reports Forrester. This means quickly assembling teams on projects, but also not hesitate to swap members out as the needs of the project evolve.</p><p>"There is no question that the <keyword id="35666" type="COMPANY" weightage="100" keywordseo="advertising">advertising</keyword> industry is under a tremendous amount of pressure to adapt, but the biggest shift in the landscape is the need for speed," Rick Eiserman, CEO of the ad firm Engine US, <a href="https://www.businessinsider.com/the-advertising-industry-is-under-tremendous-amount-of-pressure-to-adapt-engine-group-is-the-latest-ad-holding-company-to-go-on-an-agency-diet-2018-7">recently told Business Insider.</a></p><ul><li>One agency CEO in the Forrester report described a future in which client teams would be pared back for account consistency and staffed with the best people depending on the phase of the program.</li><li>Another consulting firm executive described how routine it was for the consultancy to pull together a client team on a Friday to fly around the world to solve a client problem on a Sunday. </li></ul><p>"No one is debating that having a more agile approach is what clients are looking for," Pattisall told Business Insider. "It's how they go about doing it."</p><h2>By chasing service opportunities and scaling them globally</h2><p>Giant consulting firms have been quick to spot new service opportunities they can own, and then devote resources to chase after them. They have the advantage of having huge global presences.</p><p>To be sure, ad companies have also made efforts toward more integrating their services more globally, such as Publicis with its AI platform Marcel and Omnicom with its <a href="https://www.businessinsider.com/omnicom-is-betting-that-the-future-of-agencies-relies-on-building-its-own-data-expertise-2018-7">Omni platform.</a> But they must create global practices in consulting, performance marketing and marketing technology implementation at a faster clip and with greater scale.</p><p>"Agencies can go further than they have already and move even more employees into practices where they can build their discipline and be ready to join an agile client team at a moment's notice," says the report.</p><h2>By crafting a unified and coherent brand identity </h2><p>The days of agency networks with hundreds of agency brands are over. CMOs no longer want to deal with a string of agencies with their own tribal cultures where employee loyalties are tied to individual agency brands - like WPP's "internal fiefdoms," says Forrester. </p><p>Instead, they want to be able to rely on fewer agency partners for more and bigger problems. Agency holding companies can make themselves more attractive to marketers by either adopting a single global brand or consolidating structurally. Publicis' "Power of One" structure is an example of the former, while WPP's restructuring of Kantar is an example of the latter.</p><p>"There can no longer be multiple brands, multiple P&amp;Ls and different leaders," said Pattisall. "There needs to be a reformulation of all that into a more cohesive, singular go-to market entity."</p><h2>By aligning financial incentives</h2><p>On the topic of P&amp;Ls, the compensation structures of today's agency networks limit their opportunity to tackle bigger client problems, according to the report.</p><p>Building new models that foster collaboration is one thing, but the key to collaboration is an incentive structure that measures success in terms of outcomes, and not hours. Agency holding companies must push for performance-based compensation agreements with clients.</p><p>"[We] seek to create performance-driven compensation models with our client partners that reward successful business outcomes as opposed to costing FTEs and overhead rates," says Dentsu Aegis' CEO Nick Brien.</p><p>Scott Kauffman, chairman and CEO of MDC Partners agreed, saying that "tracking the impact of each piece of the equation - whether it was the strategy, the message or the medium of activation that actually drove the result will become more important."</p><h2>By cultivating new, progressive leaders</h2><p>As ad companies make structural adjustments and consolidate brands, they also need progressive leaders to be able to ease the the transitions and preside over the transformation. </p><p>Such leaders must come armed with multidimensional skill sets including business strategy, design as well as  technology chops. These leaders should also have direct access to the client's C-suite, to be able to efficiently lead global capability practices.</p><p>This is what agencies are struggling with the most, according to Pattisall. </p><p>"The holding companies are well aware of the capabilities that are necessary," he said. "But the people and the egos often get in the way."</p><h2>By integrating new service layers</h2><p><span>Consulting firms have been encroaching on agencies' turf by acquiring creative shops for years, but agencies have typically over-relied on media, creative and production revenues, which has prevented them from coming up with more innovative solutions for their clients.</span></p><p><span>That must, and has started to change, with </span><span>agency holding companies starting to respond by making c<a href="https://www.businessinsider.com/huge-consulting-firms-are-coming-after-the-ad-agency-business-heres-how-agencies-are-fighting-back-2018-8">onsulting acquisitions of their own.</a> For example, </span>Omnicom nabbed the Dallas-based consulting firm Credera recently, while Grey launched a new global enterprise practice called Grey Consulting. Others, like R/GA and 360i, have also made inroads into various types of consulting services.</p><p>This is the way forward, as it will not only satisfy the needs of modern CMOs but also create additional sources of revenue for agency partners.</p><p>"Holding companies can be hybrids by marrying the service layer of what we do well with more sophisticated ways to structure data and technology," says Philippe Krakowsky, IPG's chief strategy and talent officer, in the report.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/woke-up-430-am-like-navy-seal-exercise-discipline-2018-7">I woke up at 4:30 a.m. for a week like a Navy SEAL</a></h3>        <div>                    </div>    </div>

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