Agency vs other...can we compete

Went to hear Michael Farmer the other day - he wrote the book Manslaughter on madison avenue

and made some compelling points on the agency business:

Bain vs JWT

Bain: When someone asks what we do at Bain, it’s tempting to point out our four-decade track record for helping to transform the world’s great companies into sharper, smarter, better versions of themselves. It’s true; our mission is to help management teams create such high levels of economic value that together we redefine our respective

industries.

JWT: . Walter Thompson has been pioneering brands since 1864. We go where others only dare. We pioneer forward, rebelling against convention. We do this with bravery, ambition and just the right amount of swagger. We tap into our 150-plus years of brand-building wisdom to build brands that last as long as we have.What We Do​People. Culture. Commerce. If our work doesn’t move the dial against three metrics, we crumple it up, throw it in the bin and start all over. Our work has got to change the way people think, feel and act. That’s when culture starts to shift. And when culture shifts, it creates room for brands to grow.

Agencies make less money.