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Editorial: Change may be difficult but it is vital for industry.(Editorial)
To say that advertising has reached a defining moment in its evolution is a masterpiece of understatement - agencies that once regarded themselves as the undisputed brand guardians now find their duties diluted as new technology has empowered consumers to shape brands' fortunes in an unprecedented way.
Moreover, as media relentlessly fragments, agencies have yet to learn how they can reconfigure for the challenge and, most importantly, how they can be fairly rewarded for their efforts.
As the feature on page 22 points out, the internet's growth has unleashed all sorts of conflicting emotions within the industry. There is excitement about the opportunities the medium could create. But this is tempered by fear of the potential damage it could do, as well as concern about how an agency can possibly make serious money out of it.
There is no question the industry has been slow to plan for the changing environment. Not long ago, a senior figure pointed out that an agency manager from the 70s returning to his desk today would need only to learn how to switch on his Mac. Little else has changed. The problem for most groups is they are ...
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