Why PwC’s Media Move Should Be A Wake-Up Call For Agencies

Why PwC’s Media Move Should Be A Wake-Up Call For Agencies
SHARE
THIS



When business management consultant firm PwC snared Channel Ten’s EGM (and media identity) Russel Howcroft (above) as its new CCO in December, many in the industry considered it as little more than a career change for the former marketer and agency man.

However, with news today that PwC has added two new media industry heavies – the AANA’s Sunita Gloster and Foxtel’s Mark Buckman – to a newly created board designed “to add further strength to PwC’s CMO advisory practice” it appears PwC is increasingly keen on playing in the space that’s typically agency territory.

Commenting on Gloster’s and Buckman’s appointments, Howcroft said: “Since announcing our plans in December, we have been overwhelmed by the response from organisations who are looking for trusted, transparent and independent advice across a range of marketing and brand activities.”

According to a statement to media, PwC’s new board has “six key areas of expertise including brand strategy, marketing strategy, market insights, marketing performance and analytics, marketing structure and operations and creative solutions.”

And if that doesn’t sound familiar to agency land, then we’re not sure what does.

Adding to PwC’s move, an article in today’s Australian Financial Review says other consulting firms – including Accenture, Deloitte, EY and KPMG – all have plans to use “their digital and data skills to win customer, marketing and brand strategy work away from incumbents in the advertising industry.”

As the AFR article also notes, consulting firms are even buying media agencies, with Accenture’s recent £50 million acquisition of UK independent Karmarama the most notable. Apparently, Accenture has told anyone who’ll listen it wants to openly play in the media space. Yet, it remains to be seen if consulting firms – who have a staid and conservative reputation – can compete against omni-channel advertising agencies who can offer brands a range of services including creative.

“Clients [say], we need to spend more [on marketing], can you help us construct the arguments, so we can spend more,” Howcroft told The AFR. “We believe there is a need in the market. It is very difficult for CMOs to know where to point their money.

“There is such a thing as return on creativity. There is a commercial return on the basis of doing things in a creative way,” he said.

However, Clemenger BBDO’s Al Crawford said these new potential players would struggle as they may be good at data, but very little else.

“The big question is where will the consultancies stop, in the end?” Crawford told the AFR. “They are good at the automatic side of things, but what about the creative? That is what makes consumers want to buy into a brand, the emotional side of it. Do the consultancies want to go there?

“Our purpose is to provide the most compelling commercial content, no matter what the distribution channel,” Crawford said.

Latest News

Dan Gregory’s Five Tips For Effective Collaboration
  • Opinion

Dan Gregory’s Five Tips For Effective Collaboration

In this guest post, CEO of The Impossible Institute, Dan Gregory (main photo), says if you’re lost for inspiration then two heads – even 100 heads – are always better than one… The implementation of effective collaboration leading the generation of results has been well documented, but there is one example that comes to mind – this […]

Opinion

by B&T Magazine

B&T Magazine
Poll Reveals What Journalists Fear the Most
  • Media

Poll Reveals What Journalists Fear the Most

A global poll of journalists from 52 countries has identified declining ad revenues as the profession’s number one concern. Staff cuts came second and the dreaded “fake news” came in at third. The poll was conducted by German press organisation Impressum and asked respondents the three questions below: In one word, what defines journalism in your […]

by B&T Magazine

B&T Magazine
Aussie Adland’s Brightest Come Together To Crystal-Ball Trends In Creative & Marketing
  • Advertising
  • Marketing

Aussie Adland’s Brightest Come Together To Crystal-Ball Trends In Creative & Marketing

A new Aussie study – based on the views of some of adland’s brightest – has concluded that data and technology is bringing agency creatives and marketers far closer together. The study, titled Joining The Dots: The Future Of Creativity, was conducted by PwC and Google and included the opinions of 15 industry thought leaders […]

by B&T Magazine

B&T Magazine
Aussie Study: Brands With An Excellent Reputation Can Charge Almost 10% More
  • Marketing

Aussie Study: Brands With An Excellent Reputation Can Charge Almost 10% More

Consumers are willing to pay more for products that not only have the features they want but also are delivered by businesses with a good reputation, a new Australian study has found. The study (which you can read in full here) was done by researchers at the University of Technology Sydney (UTS), puts a price on reputation […]

by B&T Magazine

B&T Magazine
P2P Transport Limited Becomes Australia’s Largest Taxi Advertising Network
  • Media

P2P Transport Limited Becomes Australia’s Largest Taxi Advertising Network

The acquisition of Nonstop Media by ASX-listed P2P Transport Limited will create Australia’s largest taxi advertising network. Adflow, P2P Transport’s advertising division, will take control of all acquired media assets to complement its growing fleet of digital rooftop signage, vehicle wraps and in-vehicle entertainment products across Australia. The acquisition grows Adflow’s footprint substantially by adding […]

UNSW Partners With Adobe To Transform Its Digital Ecosystem
  • Marketing
  • Technology

UNSW Partners With Adobe To Transform Its Digital Ecosystem

Computer software giant Adobe has announced a partnership with UNSW Sydney that will see Adobe Experience Cloud implemented across the university’s global digital ecosystem. The partnership with Adobe is part of a five-year overhaul of UNSW’s digital ecosystem designed to boost its reputation as a top 50 global university through improved integrated marketing capabilities and […]