Advertising is everywhere. Wieden+Kennedy CEO Neal Arthur explains how it works

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Aug 23, 2022

Neal Arthur, CEO of Wieden+Kennedy, one of the most revered independent ad agencies, dives into the intricacies of modern advertising. They explore the essential role of ads in business success and how platforms like TikTok and YouTube are reshaping the landscape. Neal discusses the value of maintaining independence in a consolidating industry, the shift towards authentic engagement, and the humor that often accompanies creative campaigns. Plus, he shares insights on navigating the challenges posed by geopolitical tensions affecting American brands.

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INSIGHT

Modern Advertising

Modern ad agencies still develop creative ideas like in the Mad Men era.
However, today's agencies produce more content across various platforms with much tighter deadlines.

INSIGHT

Agency Revenue Model

Ad agencies now operate on a service model, similar to law firms, receiving retainers or project fees.
They focus on providing labor and time, offering expertise on brand voice and various advertising services.

INSIGHT

W+K's Approach

Wieden+Kennedy prioritizes creative output over meticulously tracking staff hours.
Their focus is on assembling the right team for a client, believing strong teams naturally produce more.

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One thing that strikes me, in all these episodes of Decoder, is how little any of us really pay attention to the advertising industry, and how deeply connected it is to almost other every modern business. After all you can start a company and invent a great product, but you still need to market it: you need to tell people about it, and eventually convince them to buy it. And so you take out an add on a platform and, well, the platform companies we all depend on mostly run on ads. Google’s entire consumer business is ads. Meta’s entire business is ads. And when we talk to creators, they’re even more tied to ads: their distribution platforms like TikTok and YouTube are all ad-supported, and a huge portion of their revenue is ads.

This week I’m talking to Neal Arthur, the CEO of Weiden and Kennedy, one of the few independent major ad agencies in the world, and maybe the coolest one? It’s got a rep. Weiden is the agency that came up with Just Do It for Nike and Bud Light Legends for Bud Light. They’ve done campaigns for Coke, Miller, Microsoft, ESPN – you name it. Coming off our conversation last week with Katie Welch about building a brand from the ground up using influencer marketing and potentially never hiring an ad agency, I wanted to get a view from the other side: how does a big ad agency work? Where does their money come from? So many of the big agencies are merging into what are called holding companies – why is Wieden still independent?

Links:

Bud Light puts creative account up for review after years with Wieden+Kennedy

Mover Over Millennials -- Here Comes Gen Z

How Selena Gomez's Rare Beauty Goes Viral, With CMO Katie Welch

Mad Men (TV Series 2007-2015)

Transcript:

https://www.theverge.com/e/23081723

Credits:

Decoder is a production of The Verge, and part of the Vox Media Podcast Network.

Today’s episode was produced by Creighton DeSimone and Jackie McDermott. It was edited by Callie Wright. And researched by Liz Lian.

The Decoder music is by Breakmaster Cylinder. Our Sr Audio Director is Andrew Marino. Our Editorial Director is Brooke Minters. And our Executive Producer is Eleanor Donovan.

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