A PERFECT STORM OF OPPORTUNITIES IS BREWING FOR NEW-AGE DIGITAL AGENCIES
2020 has unleashed the kind of turbulence that nobody saw coming. Marketing budget cuts have ravaged the advertising sector and that has set in motion an entire domino effect. We are hearing about downsizing, pay cuts and in some cases even shutting down of businesses. In the midst of all this, it’s extremely important to look for the silver lining and there are some. June has already seen a bump in ad spends, May was better than April. We hope this trend continues as the country opens up and pent up demand manifests into sales uptake. There are clearly some shifts taking place, which are actually the making of a perfect storm for new age digital agencies. By this, I mean companies that have capabilities beyond social media management, website/app builds and media buying. While everybody knows that digital marketing spends have been going up and in this trying period will increase share of wallet compared to other mediums, the real impact for new age digital agencies will be far greater than a temporary bump in business. To understand this better let’s go back in time to 2008. The global meltdown accelerated the adoption of digital marketing and made it part of mainstream marketing and we all know how the category exploded post that. Now 12 years later, we might end up witnessing another tectonic shift where new age digital marketing agencies will emerge. This is being fuelled by multiple factors. If you are a new-age digital agency with offerings like influencer marketing, short format content, programmatic media, digital transformation advisory, analytics, e-commerce marketing and more, this right here is your perfect storm building! Established brands need your services as they look to optimize their spends and shift to newer avenues. Family run companies need you for their digital transformation goals. Large agencies due to costs cuttings and hiring freeze will look to outsource. Seize this moment like never before. Remember every major global crisis has created a new crop of wealth creators; do not miss your time in the sun.
Tags : digital marketing opinion Atul Hegde RainMaker Ventures