a his & hers weblog of worlds apart
If 1) unremarkable and irresponsible products eventually falter, and 2) the product is the best marketing, then why aren’t more agencies aggressively seeking out great new products for future clients. New Biz is always on the radar, and a couple innovative agencies are playing venture capitalist, but I’m talking aggressive, strategic product scouting here – like a pro sports team or a record label’s A&R department goes after fresh talent.
The way I see it, the big agencies should be setting up a farm system collecting a roster of emerging products that they want to develop into household brands. Sure these new clients won’t have cash up front, but they would be long-term partners, investments set-up to protect the company from current declining markets.
– the Agency Farm Team
How It Works:
– For their long-term security, agencies create a group (perhaps made up of up-and-coming talent) that recruits a roster of up-and-coming products they believe in, invests in them, and grows them into household brands.
Why It Works:
– The product is the best marketing in this age. Good products with good marketing will succeed in the New Marketing era. Partnering with emerging young brands will allow agencies to learn and showcase learnings in this space.
-The farm agency holds a yearly open call for young companies requiring marketing dollars and services. Emerging businesses pitch their products and winning client partners are selected. Good press for everyone.
Update: here is a PR agency experimenting with the idea – and getting props for it.