New research from collaborative advertising platform Tiger Pistol explores a growing trend across the marketing landscape—a significant shift towards in-house agencies, offering insights into how external agencies can navigate this challenge by leveraging local social advertising to unlock new revenue streams, expand their client base, and drive new business.
The firm’s new playbook, The Ultimate Local Social Advertising Playbook for Agencies: A Guide to Building a Local Social Ads Offering That’s Profitable for Agencies and Their Clients, takes a fresh look at some transformative strategies to help turn the rise of in-house agencies into ripe opportunities—aiming to provide a clear path for external entities to evolve, diversify, and thrive in this dynamic landscape.
Highlights of the report:
The in-house agency takeover
A recent ANA survey highlighted a significant majority (82 percent) of brands now possess an in-house agency, signaling the power and influence they hold in the current marketing world.
Tapping collaborative efforts
Despite the rise, 92 percent of brands still collaborate with external agencies, presenting a vast opportunity for partnership and growth.
The local social advertising goldmine
As brands ramp up their investments in social advertising, there’s a missed opportunity in the area of locally executed Facebook and Instagram advertising.
The power of AdTech
For agencies looking to tap into this potential, investing in AdTech can be a game-changer, streamlining the cumbersome process of creating, publishing, and monitoring social ads for numerous local business partners.
The report offers guidance for agencies seeking to harness the potential of partnering with brands for local activation at scale, emphasizing the agency-side benefits with a sales talk-track of client-side benefits. These include driving local advocacy, building local business partner loyalty, and increasing revenue through targeted strategies.
“Our playbook is designed to empower agencies with the tools, insights, and strategies they need to navigate the rise of in-house agencies and continue to deliver unparalleled value to their clients.” said Sarah Cucchiara, VP of business development at Tiger Pistol, in a news release. “By employing AdTech, agencies drive operational efficiency through automation enabling them to exponentially expand their services without increasing headcount.”
In addition, the research details strategies for success, providing agencies with tips and tactics to help them diversify their portfolios, entice new clientele, and remain at the forefront of industry innovations.
