What Did the Proposed Omnicom-Publicis Merger Have to Do with It? – Mike Drexler

Much is being written spoken and even just thought about why the OmnicomPublicis proposed merger failed to materialize Iamp8217d like to add my voice to the commentary In my opinion it seemed to be a huge ego trip for both parties What a thrill to create the biggest advertising holding company in the world Imagine for one party to make it happen before retirement and for another to run it with all the power it engenders in a multibillion dollar worldwide industryThese were two culturally different agencies and coleadership rarely works let alone with such different operating styles There was no compelling financial reason to do it So was it talent Media leverage Resources Operating efficiency Geographic expansion Tax inversion Probably not really any of these Neither party desperately needed the other so it came down to unresolved power and control These are two very smart strong willed guys who thought they could figure it out as it progressed Itamp8217s also interesting that the reason behind the proposed merger was never convincingly conveyed at least not in the press Whether it was internally explained effectively either I donamp8217t know But according to public opinion and even public statements made by some advertisers it was never an altogether positive occurrence What could really be in it for clients or potential clients that they already couldnamp8217t provideSo I ask the question amp8220What did the proposed OmnicomPublicis merger have to do with client businessamp8221 One of the big problems for marketers and agencies today continues to be infrastructure A merger like this only exacerbates the situation holding companies trying to put assets together so everyone can work harmoniously and bring real integration and incremental value to clients Advertisers keep telling me they need to have their agencies coordinate and manage activities more effectively Some advertisers say there are already too many agency units to deal with that the industry is plagued with too many chefs and they donamp8217t all work harmoniously They want proper integration and accountabilityThe principles of advertising are the same as they always were The goal is still building client business and profitable ROI But the business is infinitely more complex With expanded marketing communication tools and hundreds of traditional media outlets thousands of websites including digital search video social networks and smart phones tablets desktops and laptops not to mention emerging new mobile devices how do advertisers get their arms around the most effective way to solve their marketing requirements Itamp8217s not about being the biggest Itamp8217s about managing specific client business with the resources they need and developing a genuine relationship with cost controls in place to manage compensationAs this dizzying world unfolds letamp8217s worry more about the best way to keep pace with change by understanding how to cohesively develop the building blocks for each client to achieve the profitable return they expect and pay forMike Drexler is cofounder and Managing Partner of DrexlerFajen ampamp Partners a media consulting and agency review firm that works with advertisers to evaluate their agenciesamp8217 performance He can be reached at mikedrexlerfajencomCheck us out on Facebook at MediaBizBloggerscomFollow our Twitter updates at MediaBizBloggerThe opinions and points of view expressed in this commentary are exclusively the views of the author and do not necessarily represent the views of MediaBizBloggerscom management or associated bloggers MediaBizBloggers is an open thought leadership platform and readers may share their comments and opinions in response to all commentaries

Become a Thought Leader. Share your thought leadership article with industry professionals & have them archived in Thought Leadership

What Did the Proposed Omnicom-Publicis Merger Have to Do with It? – Mike Drexler

Author

Publish date

Channel

Mike Drexler

Hispanic Leadership Roundtable: Inclusion, Mentorship, and Building the Next Generation (Video) - By Juan Ayala

More Videos:

Become a Thought Leader. Share your thought leadership article with industry professionals & have them archived in Thought Leadership

What Did the Proposed Omnicom-Publicis Merger Have to Do with It? – Mike Drexler

Enjoying This Commentary? There's More to Love

Mike Drexler

Hispanic Leadership Roundtable: Inclusion, Mentorship, and Building the Next Generation (Video) - By Juan Ayala

The payment was successful

Cookies