Consultancies have proven themselves to be perfectly capable of managing the course of a brand. Curating every business step their fosterlings make, will they have guts to get into the advertising rival with savvy agencies?

 

The rise of consultancies

There have been several major consultancies that basically have been ruling the business world for some time now. Being the guides in twists and turns of the company’s life or occasional emergency service, such moguls as Deloitte, Accenture and so on have earned a tremendous expertise and reputation. However, recently they have decided to broaden the services and engage into advertising. Why the hell do PwC or Deloitte need in-house ad agencies? Apparently, to be able to earn $750 million and $1.5 billion respectively. To cut story short, here are some examples and other reasons to persuade the reader of importance of such “departments”.

Accenture has invested into 10 000 square-foot space in New York to host 5000 employees. As you can already guess this space is dedicated to content creation exclusively. However, it wasn’t a risky shot to see whether the clients would be tempted to try their new enterprise. They have already though it through. The advantages of an ad studio are obvious.

Accenture Advertising

First of all, the clients that are already there may find it convenient to work complexly on their current problems or prospective challenges. When one department suggest innovations or workforce optimization, it is easier to refer to someone for appropriate content creation without looking for so long.

Another perk is saving time. Not only the clients may benefit from the all-in-one approach, but employees as well. It’s easier to refer to an in-house sustainability or development manager for a quick catch up, than to find a third-party professional. Thus, the advertising practice based on the consultancy resources can turn into the definition of work efficiency. For example, in our post on agencies we have written that advertisers have to refer to the data analysts to measure the campaign response. Doing so they lose their time and self-confidence points as a company.

 

Are there any pitfalls then?

Everything seems perfect from the first sight, but surely there should be something to chill everyone’s enthusiasm. And of course there is. As consultancies are only entering this business, they can be overexcited about their capabilities in the new field. When the advantageous approach discussed above is clear, there can be a creativity trap. Agencies, working on pitching and sweeping away the ideas forever now, have sharpened their skills already. When someone may object saying that their successful ideas are the game of chance, they are still able to take a great shot. Creativity is also one of the soundest revenue generators, as it brings €535.9 billion to the European Union pockets. Consultancies, on the other hand, need to work extra hard to fetch up regardless how many new gadgets and human assets they may have in stock.

MadMenMotto Advertising

Another concern can occur around internal relations in the transformed business. For example, the process of consultancy-creativity merger can be accompanied by the irreconcilable conflicts. As everyone knows, the creative culture is a bit sassier. Thus, the cultural shock inside the company may arise. When Accenture has decided to embrace it, other companies may try to tamper the free spirit of creativity. There is no right answer to how to integrate one into another. There is only a major worry about possible negative outcomes that can be got over only after multiple positive experiences.

It is still unclear whether this new trend is going to stay forever. Regardless of the efforts consultancies make to adopt new service, the last word is clients’. Will they decide to stick to one company for all sorts of advice or turn to the field expert? Let’s wait and see.

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