Spotlight: Mitigating risk - inflation, agency talent shortfall, etc.
Inflation is back. Agencies are being more selective about who they want to work for. What’s happening in the agency world, and how can clients better collaborate with agencies to mitigate risk on their account.
Share this post
Facilitated by WFA, our panellists in this session included:
- Lucinda Peniston-Baines, Founder & Managing Partner, The Observatory International
- Graham Brown, CEO, MediaSense
- Nick Waters, CEO, Ebiquity
You can view a recording of the session below:
Panellists were asked a series of questions collected from WFA members before the session:
Agency talent shortfall
3:27 Is there a talent shortfall on the agency side? How does the agency talent shortfall fall into the wider resources shortage we have globally?
15:30 We often hear ‘it’s a situation that clients can’t control. Is it true? How can clients protect the agency talent working on their account?
30:04 Do you see clients working more with freelancers’ companies as a result of the agency talent shortfall?
36:12 Is there currently an inflation on media prices? If yes – do we have some rough figures (or a recommended source of data) for top advertising markets?
42:19 Do agencies increase their price because of an increase of new suppliers in the agency landscape (more competition for them) and reduced budgets on the client side?
52:28 How best mitigate inflation without impacting quality in markets?
59:14 What period (of time) would you (the panel) advise clients to request guarantees for media price inflation?
1:02:32 Are agencies expecting to pass on ALL increased costs to their advertising clients? What is the % of increase is logical to accept according to a market wage increase?
1:08:34 Is there a % or fee difference clients can expect between talent based in big cities v smaller cities?
1:11:47 In what ways can clients work with their agencies to streamline processes, remove non-value-add tasks, automate or out-source to reduce costs for both sides?