10 Ways Corona Changed the Marketing Agency – RedPeg marketing
The world is full of new challenges and opportunities that present themselves everyday. These opportunities can either offer a new opportunity to grow your business, or can end up being a bad decision that leads to total disaster. One such opportunity presented itself in 2004 when the Coronavirus was discovered. The virus sparked an uproar in Atlanta and caused great fear among businesses. The outbreak resulted in changes to the marketing and advertising industry that are still felt today.
1) Better coordination among agencies
Before the coronavirus, most marketing agency work was done individually. Agencies would produce individual ideas for their clients campaigns and then present them as a group. While this method worked, it caused problems when different agencies produced different campaign ideas. If a client liked an idea from one agency, but needed to go with something different due to budget or timing reasons, the first agency’s idea would be scrapped and another presented in its place.
2) Agencies now have a more global outlook
Prior to the coronavirus, many agencies had no idea how their clients were doing outside of the U.S. This led to some communication issues throughout companies. When an agency was working hard to expand their reach internationally their primary clients wouldn’t know about this work or support it in any way even though they were benefiting from it. Now most agencies are aware of a wide range of business happenings outside of just their client base, which has helped build better relationships between these businesses and the agencies that represent them.
3) Agencies are more risk averse
Prior to 2004, marketing and advertising budgets were usually very large for most companies. If a client let an agency know that they really wanted to try out some new ideas and were willing to take a gamble on them, the agency was usually more than happy to oblige. This led to several agencies being in debt due to clients being unhappy with their advertising budgets. Since the coronavirus outbreak, most agencies are now much more risk averse when working with clients. This has helped many businesses prevent their marketing budgets from spiraling out of control and becoming too risky for their operations.
4) Agencies have stronger project management abilities
Prior to the coronavirus outbreak, most agencies really only handled one project at a time. With larger budgets and more projects, this meant that some agencies would get overwhelmed. If an agency spent a lot of time on one project and worked very hard on it, the client would change their mind or the production deadline could be extended. Since the coronavirus outbreak, most agencies are capable of handling multiple projects at once now. This helps make all of the projects much faster and more efficient which results in more loyal clients and more satisfied employees who feel like they’re contributing to something bigger than themselves.
5) Agency staff are better prepared for emergencies
Prior to 2004, most agency staff had no idea what to do in case of a potential coronavirus outbreak during production for a client. Many employees weren’t sure how to deal with the crisis and weren’t even sure if it was a real outbreak. Since the coronavirus outbreak, almost all agencies’ staff has been trained in how to handle a crisis like this. This is especially important when working with high risk clients.
6) Better client security for more companies
Prior to 2004, many companies’ boards would rarely take chances and take on new clients that seemed too risky for their operations. Since the coronavirus outbreak, most companies are much more willing to work with new companies that pose an unusual risk to their businesses. This has led to more innovation in business practices and growth for many companies.
7) Agencies are willing to experiment with new types of clients
Prior to the coronavirus, some agencies really only worked with companies that produced a good amount of revenue or were established in their industry. The outbreak changed the way that many agencies viewed the potential for new clients and led to many businesses gaining access to services previously only available for larger companies. This has led to smaller more innovative ideas being developed, which ultimately helps improve business operations worldwide.
8) Fewer agencies are willing to risk working with new clients
Since the coronavirus, several agencies have been affected by the tragedy and have less desire to take on new clients that they aren’t familiar with. These companies would present ideas and campaigns that were either too risky or too difficult to produce. Since the outbreak many agencies are much more careful when deciding whether or not they should represent a new client. This has helped most businesses avoid some large budget blunders in campaigns for their operations.
9) Agencies are more skeptical of innovative ideas
Prior to 2004, advertising and marketing campaigns were usually received with open arms from clients who wanted to grow their business. The outbreak changed the way that agencies viewed new ideas and these clients no longer wanted to take chances by trying them. Since the outbreak, many agencies have become much more cautious when entering a new client’s business. This has helped many companies become safer and more effective with their operations.
10) Agencies are more likely to do service work for smaller clients too
Prior to the coronavirus outbreak, most agencies did not consider technically difficult projects that only required one or two employees. The outbreak changed this reality and led to plenty of small companies in need of some help acquiring marketing services from a new agency.
