Much like newspapers, conventional advertising agencies are becoming irrelevant. When one person with a wireless connection can be an agency, a media company, or even a manufacturer, traditional advertising organizations have to change their culture, processes, structure, talent policies, resources, and even their business and revenue models in order to embrace the power of open systems being fueled by digital connectivity. The old agency businesses may still have time to correct their course, but they must start now.
The End of Traditional Ad Agencies
Open innovation is changing the economics of advertising.
May 09, 2013
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New!
HBR Learning
Marketing Essentials Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Marketing Essentials. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
Learn how to communicate with your customers—strategically.