Chair of TrinityP3 USA, Michael Farmer, first published his award-winning book, Madison Avenue Manslaughter
Today, the book is in the third edition, updated with insights into the media agency landscape and the continuing challenges that the advertising industry faces with fee-cutting clients, profit-hungry owners and shareholders and declining ad agencies. But in 2020, he identified a change, driven by a decade of underperforming companies which had responded to low or negative growth by cost-cutting their way to profit.
The focus on marketing as a growth driver of brands and businesses has created an opportunity for ad agencies (creative and media) to transform themselves as the vehicles to help their marketing clients respond to this challenge. Since last year Michael has been writing and sharing his opinions and recommendations on how agencies need to transform. Central to this transformation is the often-maligned account management team – in particular the account heads who he has identified as essential to the process. We hope you enjoy his insights below.