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From KitKats and Coke cans to targeted, contextual advertising – who doesn’t want something custom-made that fits perfectly with their personal need?
It's happening in agency world too. The news emerged this week that GroupM is forming a bespoke agency to serve Westpac that will tap into capability from across the group.
On the surface the move marks another huge loss for MediaCom. Speculation as to the fate of MediaCom if Westpac, its biggest client, did exit the building has hung over the agency for the last 12 months. It's easy to see this as another damning blow for MediaCom and there's many in the market that still believe it is. but looking a little under the surface, it makes more sense than that.
One rival agency boss (who'd perhaps enjoy a slice of Westpac) was quick to describe the move as a tin of broken biscuits to add a disjointed taste to the client, others have suggested it’s the move of a very smart cookie.
Giving a cash cow client access to a wealth of expertise across the group offering a perfectly tailored set of skills and tools is exactly the kind of custom-made experience that a client like Westpac would want.
It's also been suggested that far from being a dismissal of MediaCom by Westpac, the strategy was pitched to the client by the agency itself. Some might scoff at that, but there is form.
Similar bespoke offerings have been launched for banks by GroupM before. In the UK it formed Greenhouse for UK bank Lloyds and globally it has formed Blue Hive for Ford which taps into WPP shops JWT, Mindshare and Wunderman under a dedicated unit for the client. Omnicom launched a new global agency unit called Nissan United to serve the car maker across creative and media and Hyundai has its own dedicated shop in the form of Innocean. Last year STW Communications set up a bespoke offering to service Westfield – so the move isn't that out of sync.
Details are still thin on the ground with a no doubt weary MediaCom keeping shtum and Westpac not adding much. Either way, it raises questions not only about the reasons behind this move, but what this new structure may say about the future of the industry's agency model in general, and how it will work in reality.
Is this the new way and is full steam ahead for Westpac or just a detour?