In the short run, yeah. In the long run, the Internet has fundamentally changed the value proposition of ad agencies, and their old core competencies aren't that useful anymore.
I'm reminded of how in high school and early college, every teenager thinks that the way to get your ideas heard is to shout louder. But if you actually look at effective leaders, ones that change the world, the quality they share is that they listen more. That's what the Internet provides us: a way for brands to listen more to their customers. And when you have that, you don't need an industry that grew up around being able to shout louder.
I'm reminded of how in high school and early college, every teenager thinks that the way to get your ideas heard is to shout louder. But if you actually look at effective leaders, ones that change the world, the quality they share is that they listen more. That's what the Internet provides us: a way for brands to listen more to their customers. And when you have that, you don't need an industry that grew up around being able to shout louder.