Largest Advertising Agencies
The largest advertising agencies today are considered to be the major players in the world of marketing. The merger of these giants has catapulted the advertising industry into a totally new era, with even more possibilities for growth in the near future. A recent article by Financial Times Magazine on the merging of the US marketing agencies White & Case and Wieden+ Becker had touched upon the five major agency networks. It was then suggested that by pooling the various resources of these firms, they would be able to build up one giant media conglomerate to challenge the already established brands.
This is exactly what is happening. These largest advertising agencies, which are also known as the BGA, have made a strategic alliance with the leading global digital marketing agency, SharePoint, in order to pool their client base. The combined agencies will be able to provide unmatched client services to their clientele across all sectors, including e-commerce, consumer and B2B. The largest advertising agencies now hold a strong position in the global business scenario and are becoming the most preferred choice for all types of businesses. They are not only capable of offering effective solutions to all kind of advertising needs but are also able to leverage their vast pool of professionals with an increased degree of efficiency.
Apart from this, the largest advertising agencies are also known to generate revenue at a higher margin. The merger has resulted in a lot of revenue for the largest advertising company with the highest annual revenue. This means that the amount of revenue which can be generated from this firm depends completely on the amount of revenue generated by the other three advertising companies. These companies in turn are dependent on revenue generated within the United Kingdom, so any decline in revenue earned in the UK would affect the revenues of the other companies, mainly due to the gateway through which the companies enter the country. The overall revenue of the largest advertising agency is equivalent to around $14 billion a year.
Understanding the Terms Used by the Largest Advertising Agencies
In fact, the revenue generated by the largest agency could possibly be even greater considering that a great portion of the revenue comes directly from the largest clients. There are times when the smaller or even medium-sized firms take up the advertising tasks while the larger ones take up the big projects. The larger firm is in a better position to manage and monitor the entire project from start to finish, while the small and medium sized firm may have to hire more external public relations experts to make sure that the client’s requirements are being fulfilled, and to get an overview of the current status of the project. In case of the medium-sized firm, it may need to make use of other agencies like Ketchum to help them out with the execution of the public relations activities.
CRM: This is another important term in the world of public relations and marketing. This is used primarily for managing the customer base. It means that the customer relations department of the advertising agency manages the CRM activities of both the client and the sales and marketing departments. The client gets to benefit from the consistent and efficient communications between the marketing team and the customer relations department. The customer relations department would also ensure that all the feedback and questions raised by the clients are handled properly, and that there is an improvement in the way marketing processes are executed. In short, the CRM activities to make sure that the company performs well in all its customer-related activities, as well as managing the overall customer satisfaction rate.
Media Sales: These are the activities which bring in the revenue for the advertising agencies. However, these revenues come through different forms such as magazine advertisements, television commercials, radio ads, etc. While magazine and television advertisements are used widely for advertising purposes, radio ads are used only on certain hours and during radio programs. Direct marketing services bring in the revenue through direct marketing services, and this is done by hiring professional sales people who would go around selling the products or services available at the organization’s disposal.