Sharing some of our past
The views of whether an ad agency should remain independent or sell out are variant and come with their own set of pros and cons. Independent agencies are mostly culturally driven. They do justice to a creative product. Although money is important it is not the centre of how a business is to be conducted. Staying independent has a host of advantages. They get to choose who their clients are according to similar ideologies, passions and interests. They can choose to give their 100 percent to those clients according to what they have chosen. They can make the right choices on what they think is the right way for their own agencies like where to reinvest profits etc. It allows for free change in strategic direction. These ad agencies can focus on their own clients and creative people. Independent agencies can take their own risks with their clients. According to Amber Williams, “It’s not so much that an agency is independent, its that all people working there have chosen an independent agency. These types are often more novel thinkers, thrive on risk and generally produce more transformative ideas.” An independent agency can make quick decisions. They are not slaves that have to meet quarterly numbers. On the other hand choosing to sell out has its advantages too. Belonging to networks bring in support. Belonging to a network ensures more expertise, better marketing, research, as well as technology. Mahesh Chauhan co-founder of Salt Brand Solutions, says, “ Most businesses cant be ‘IPO-ed’. But agencies cant. So how does an agency go public, raise money for growth and expand? If you are not IPO-able on your own the only way to move forward is to sell out to a global buyer.” Agencies can choose to sell out, even if they don’t really have a succession plan of their own and owners would want to ensure, their baby projects being well taken care of at the hands of bigger agencies and an agency could reach its full potential only after joining a larger network.