We are restructuring our global business model and aim to integrate our current specialist service units into four new global groups.
MindShare today announced a global re-engineering of its business structure that streamlines the company's operations by fully integrating all services. Services including ROI modeling, communications strategy, sports sponsorship and content creation are being drawn together in a simplified framework to deliver a new, comprehensive marketing services offering.
The restructuring - the first since MindShare was founded in 1997 - was announced simultaneously in New York and at the agency's worldwide headquarters in London by Chief Executive Officer Dominic Proctor, Chief Strategy Officer Nick Emery, the principal architect of the plan, and North American CEO Scott Neslund.
The goal of the restructuring is to create a new breed of marketing services agency dedicated to developing fully integrated, media-neutral business solutions for clients. The core idea is to move beyond the realm of media solutions to fully integrate content creation and related areas to realise the optimum value of exchange between brands, consumers and corporations to create competitive advantage for MindShare's clients.
"Brands are no longer driven by simple ideas or ideals but by a series of exchanges between the brand and the consumer" said Proctor. We are re-inventing our form, our thinking and our process, underpinning all that we do with digital expertise, to be our clients lead business partner in meeting the challenges this new landscape creates for them."
There is now a pressing need for media agencies to concentrate on the invention of intellectual property and the integration of all marketing services, particularly in the area of digital communications.
"Content and integration are more important than ever and, in fact, MindShare has been heading in that direction over the past several years by focusing the bulk of our hiring in the area of research and production rather than traditional media planning and buying," said Neslund. "In many aspects these moves codify what we've already been doing."
The comprehensive restructuring integrates almost a dozen separate agency units and disciplines into four new groups that will span all MindShare services creating an agency framework which is focused on collaboration. The four newly established groups are Client Leadership, Business Planning, Invention, and The Exchange.
Briefly, here is what each group will cover:
Emery said the reorganisation was in large part sparked by the expressed needs of the agency's client base.
"There is a significant need right now among clients for agency leadership," he said. "They want agencies to take the lead in learning about and applying digital marketing from retail to creating new revenue streams. They want agencies to take the lead in the integration of diverse marketing services. And they want agencies to take the lead in being more creative with marketing ideas; fusing context with contact in real-time. We intend to be the ones leading in all those areas in a structure focused on client needs not the usual self-serving tokenism. Simply put, MindShare's role is to maximise the value of the exchange between brands, consumers, and corporations to unfair create competitive advantage for our clients."
While the four new groups represent the practical core of the new agency model, MindShare is also introducing a new philosophy dubbed "The Value Exchange" that represents the conceptual core of the restructuring.
Neslund and Emery described The Value Exchange as a revolutionary philosophy based on the agency's belief that a brand's valuation is driven by the sum total of exchanges between consumers and the brand, and that these exchanges can be mapped and monitored in real-time; MindShare thereby assimilating a NASDAQ for brands.
"Understanding this value exchange yields diagnostic information to drive the formation of effective business strategies for driving growth," Neslund said. "These strategies are, in turn, activated into powerful marketing ideas and exciting communications programs that deliver tangible, measurable results."
The restructuring is a global undertaking impacting all of MindShare's 97 offices in 67 countries. Implementation will begin in specified areas of each office immediately and be phased into the overall operations of each one over time. The full reorganisation is expected to be completed by year end.
Crain's New York Business.com
Campaign article by Claire Beale
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