Globally, advertising holding companies like WPP ,IPG & OMNICOM have always prided themselves as to having a better understanding of customer insights and rules of brand building. With the advent of new technologies - internet, mobile and other new media forms, there seems to be an immediate need for them to relook at their own model, provide new service offerings & solutions and undergo a mindset change to remain as leaders.
At a summit earlier this month sponsored by WPP Group search firm Outrider, WPP CEO Sir Martin Sorrell rattled off a downbeat, side-by-side comparison of his holding company and Google. With $6 billion in revenue and 5,700 employees, Google had a market cap, even after some recent declines, of about $100 billion, he estimated. “Poor little WPP,” he said, with its 17,000 employees and its $9.8 billion in revenue, having a market cap of $15 billion. “The market is saying something about our model, and it’s a little bit depressing,” he concluded.
thro' scottkarp