New in Campaign U.S. GB Managing Director, Shane Wolfsmith, writes about where to make compromises and where to not — an especially challenging line when agency business slows down.
In the article he shares how in 2020, select industries may have thrived, but many were devastated by the effects of the pandemic. Agencies? They felt the brunt through lost client work. When work dwindles and new business opportunities dissolve, the market becomes more competitive. Agencies in turn struggle with how to protect their value while keeping their doors open. To not only survive these times of financial hardship, but to also maintain their values, standards of work and overall reputation on the other side, agencies must decide which things are worth compromising and which are not.
Providing 3 suggestions on each side of that question, Shane also answers the ever-important question of how do we make it out of this, still us?