Marketing Agencies taking a hammering

This is the toughest time I have ever seen to be operating in the Marketing sector. The issues are twofold:

1. Marketing budgets continue to be slashed across all business sectors leading to fewer jobs at lower margins.
2. In the UK we have sent an unbelievable amount of people to media college who now can't find jobs - so what do they do - they seed pod and start up in their own bedrooms. The effect a dramatic undercutting of jobs for traditional agencies who still have to bear the overheads

It just doesn't work like it used to. Agencies must adapt and get their mindset right now. Robust Financial disciplines must be put in place. Understanding cash flow and product profitability are a fundamental. Practicing what you preach is another - what are Marketing agencies typically very bad at - Marketing themselves! It's not as fun for the Artisan you see.

Well it's time for this sector to wake up and smell the coffee. I'm afraid its adapt or die....