A new breed of technology driven, agile and digital savvy agencies will emerge and change the landscape of marketing as we know it, and soon, traditional marketing agencies will need to adapt to stay afloat. How can marketers evolve in this new marketplace? By taking a chapter out of Hubspot’s book of success.
Emergence of Growing Agency Market
In the beginning 2015, Hubspot became a publicly traded company. Currently, it has over 15,000 customers from around the world with a market capital of more than $1.8 billion. Recently, an Inbound Conference organized by the company attracted more than 13,000 attendees. As Hubspot grows, the market potential for most agencies will also continue to expand.
According to Hubspot, a business organization spending $1 on advanced marketing software often spends around $10 on marketing agency services. Many agencies consider this an opportunity to capitalize by joining the growing inbound marketing movement. This has allowed marketing agencies to create a competitive advantage over peers.
Rate of Change Accelerates
In the last few years, innovation in technology has picked up pace. This has created a major change in the industry. Moreover, the matrix of digital marketing technology has also expanded. Due to this, opportunities continue to emerge for agencies focusing on the future of digital marketing.
Numerous marketing agencies in different parts of the world have been looking to focus on technology and transform businesses accordingly. Technology immersion and integration are two key aspects to make the most of these opportunities.
Technology Immersion – According to marketing experts, hybrid agencies focusing on technology would soon become a dominant force in the marketing world. These companies apply advances and shifts in technology to strengthen business practices, deliver value for money and evolve services to clients.
For most marketing agency businesses, being technology immersed means having a desire to gain knowledge about marketing technology and constantly tinker with high quality products and services. Marketing businesses should form lab divisions to research and integrate new technologies. Employees should also be given appropriate training to advance and explore.
Technology Integration – Though being immersed in technology is the starting point, it’s also important to integrate technology in your day to day practices. Technologies should be integrated with services, pricing models, infrastructure and processes. When you want to achieve success, you should focus on commitment towards money and time. Sometimes, the return on your investment may not be immediate. Thus, you need to experiment and take some calculated risks.
Tech Savvy – New Breed of Digital Marketing Agencies
In the last few years, traditional marketing agencies have been slowed down by conservative cultures and legacy systems. On the other hand, some companies have been immersing their teams in digital marketing technology and take chances regarding integrations, which lead to reduced operating costs, increased client performance and increased productivity.
For the future, these marketing agencies are focusing on building more valuable and scalable business models. These agencies are disrupting the status quo, and integrating new technologies with traditional marketing practices. This will allow agencies to grow for years to come and achieve success.