Every week there are stories of brands retendering, with agencies enthusiastically falling over one another in a race to the bottom on margins. Among the most recent cases, Hilton has set about building its own internal "centers of excellence" dedicated to specific media and marketing areas, which will be reinforced by the right niche and independent agency. One of the unintended consequences of the digital revolution has been to challenge the identity and purpose of the all-encompassing agency.
With each consolidation, acquisition, or PE investment, marketing agencies' vision moves further away from being providers of agnostic services and creators of culture to purveyors of enterprise platforms and orchestrators of strategy and execution. Put simply, your agencies will no longer act solely as your agents but also as owners of products/solutions, resellers of technology partnerships and developers of emerging capabilities.