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
B&T Magazine
By B&T Magazine
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.

Please login with linkedin to comment

Advertising Standards Bureau bauerworks MasterChef Australia Music Video

Latest News

Eyeota Enhances Reach And Targeting Precision For RDA Research
  • Marketing

Eyeota Enhances Reach And Targeting Precision For RDA Research

Leading Australian market research data brand, RDA Research, provides actionable consumer intelligence to help businesses inform decision making and growth strategies. RDA Research wanted to make its unique consumer data available for addressable digital targeting and required a data onboarding partner to help activate their data in an online environment.

Enthral Strengthens Journalistic DNA By Hiring Channel 7 Reporter Sean Sowerby
  • Media

Enthral Strengthens Journalistic DNA By Hiring Channel 7 Reporter Sean Sowerby

Storytelling agency Enthral has appointed Channel 7 reporter and sports presenter Sean Sowerby as its new senior PR and content manager in Melbourne. Sowerby (pictured) started his award-winning career at 3AW before spending more than 15 years in television. Enthral founder and manager director, Cameron Smith, spoke of the significance of Sowerby joining the agency. […]

Blis Puts Its CEO In The Desert In Clever New “Data Drought” Ad
  • Campaigns
  • Technology

Blis Puts Its CEO In The Desert In Clever New “Data Drought” Ad

Ever since Google first announced it would be getting rid of third-party cookies on Chrome, digital advertising businesses have been actively sharing their plans for life after cookies. And now programmatic advertising company Blis might have come up with the most creative way to get the message across, in a new video which sees company […]

Agency Icon Sweeps The SABRE Awards
  • Marketing
  • Media

Agency Icon Sweeps The SABRE Awards

Integrated Melbourne agency Icon has taken top honours in the 2021 SABRE Awards, winning the coveted Australasian Consultancy of the Year for 2021 along with a host of category and craft awards. Icon led a large field of Australian agencies with a total of three major and seven minor awards, including gold in the cause-related […]

Former Agency Execs Launch Car Service Summon
  • Marketing
  • Media

Former Agency Execs Launch Car Service Summon

Former agency executives Tim O’Neill and Tim Fouhy have launched the auto technology startup Summon. Australia’s first full e-commerce service for prestige cars. O’Neill and Fouhy both founded Reactive, a digital agency, which was bought by Accenture in 2016. Following the deal, O’Neill and Fouhy ended up leading the company’s digital marketing arm, Accenture Interactive before […]