The following is part of a series from our recent roundtable discussion, Finding Success in our New Data Reality, in collaboration with other leaders in the data and privacy space. Keep an eye on our blog in the coming weeks for additional learnings from this event.
As laws and attitudes around data privacy emerge, the role of the agency must evolve as well. Agencies can no longer be mere brokers between their clients, vendors, and customers. With several changes hitting companies quickly, clients are looking for consultative experts to turn to, especially in the regulated space. This is why agencies must find their inner guru and find it now.
In the always-changing ecosystem of marketing in regulated industries, often the only constant for a brand is the agency partnership itself. This means agencies are being relied upon to a greater degree to not only be on top of the latest in data, compliance, and regulation, but to have a deep understanding of best practices and optimization strategies. Gurus can’t necessarily predict the future, but agencies who stay ahead of the curve by constantly evolving their capabilities, can help future-proof themselves and their clients.
“Agencies that will be primed for success in this area will be ones that understand the need to invest in technology, talent, and process. While those that continue with business as usual will not work in this future ecosystem. By internalizing and adopting this shift, agencies will do more to mitigate risk for all parties involved, allowing for a greater focus on what they’re hired to do–drive business outcomes.” – Amanda DeVito, VP, Marketing & Growth
In the end, agencies have transformed from simply being stewards of media to being stewards of trust. They must help ensure their clients’ customers trust that their data is being used safely and collected securely. They must earn their clients’ trust that they’re up to speed on the latest regulatory changes and will always be ready with innovative solutions. No one ever said being a guru wasn’t hard work because, in order to be a successful one, you have to make it look easy.
Special thanks to our collaborators LiveRamp, Neustar, MediaMath, UserZoom, ImpactProduct, Flashtalking, MediaMonks, Microsoft, the 4A’s, Wunderman Thompson, 3Radical, and SAS.