The merger of Publicis and Omnicom has ramped up the conversation around holding company models and agency services.
Here at JUICE, it has certainly sparked some questions. We wonder, what will the impact of such a massive advertising behemoth have on its agencies’ ability to deliver behavior changing, heart-stopping creativity that’s in such high demand in our complicated world of pharma marketing?
What about the agency teams and their clients? How do they feel about a merger of these two holding companies? Are they excited about it? Did anyone ask?
Believe it or not, we did. Well, not about this new holding company per se, but about the veracity of the holding company model as an answer to clients’ needs for efficiencies, integrated disciplines, and superb creativity. We endeavored to understand the myths and realities of holding company consolidation models—so that we could provide a truly relevant, independent network alternative for those clients who were eager to explore a different kind of solution.
Prior to forming the JUICE Global Network, we conducted a forensic study among director-level clients working with holding company models, as well as brand navigators from their respective agencies. We learned about the pluses and minuses, and created a network model shaped around best practices, so that we could ensure our clients have the best possible experience as they satisfy their consolidation goals. And with each passing year, we review and continue to hone our processes to make this independent offering a true benefit, both to our clients and to the talented and passionate people that make up the JUICE Global Network.
We will continue to sort through the sentiment around this mega merger. In the meantime, here is a POV from our indie colleagues at Worldwide Partners, Inc., the largest network of independent agencies in the world. They cite the cyclic nature of mega mergers, which historically give rise to a new generation of creative independents.
Also, check out NPR’s Bob Garfield, who provides his perspective on this ‘duopoly’.
What do you think? Let me know.