Alright – so today we’ve got the honor of introducing you to Marc Liu. We think you’ll enjoy our conversation, we’ve shared it below.
Marc, thanks for taking the time to share your stories with us today So, let’s start with trends – what are some of the largest or more impactful trends you are seeing in the industry?
The marketing agency world, just like the rest of the world, has been shaken up by the fallout from the pandemic. The overall economic downturn had greatly reduced marketing budgets, leading many brands to downsize their marketing teams and let go of their agencies. This led to a sudden flood of marketing professionals who were found themselves seeking employment.
As the overall economy recovered and brands started reinvesting in marketing teams and agencies, an interesting confluence of trends began to emerge. Many brands were reluctant to bring back large agencies of record, investing instead in multiple smaller specialist agencies that carry lower overhead and could be brought on for more focused, nimble assignments.
At the same time, many of the marketing professionals who lost their jobs due the them pandemic, rather than rejoining large agencies, became freelancers or started agencies themselves. These new agencies often formed partnerships or collaboratives with other complementary agencies in order to service larger accounts.
Both of these trends contributed to the continuation (and possibly acceleration) of a larger trend that started well before the pandemic: the decline of the traditional Agency of Record model. Brands are savvy enough to know that no agency can truly excel at all the disciplines needed for omnichannel marketing and are either hiring for specific needs, or working with lead agencies (with a focus on strategy) who can bring together a team of partner agencies. This is advantageous for clients as they can maximize specialization and performance, reduce unnecessary expenditure. Agencies can focus on excelling at the areas they truly love, without having to pretend they can do it all.
Marc, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
Marc Liu is the founder and Head of Strategy for ELMNTL a marketing and communications agency specializing in travel, hospitality, spirits and lifestyle brands. Born in China, raised in Australia and educated in France. Marc has a passion for blending cross-cultural storytelling with high performance marketing. His clients include the Ultimate Fighting Championship, Anheuser-Busch, The Halal Guys, Tourism Authority of Thailand and Turtle Bay Resort. Outside of the agency, Marc is a lifelong martial artist with a black belt in Brazilian Jiu Jitsu.
Where do you think you get most of your clients from?
The best source of new clients, by far, has been through referrals. Whether it’s through clients, partners, employees, vendors or even competitors, referrals has always been the most reliable source of new business. Having strong referrals speaks to the quality of our work but also our relationships, and because of that, I approach all of my relationships with a greater sense of long-term value.
How do you keep your team’s morale high?
A marketing agency, my team is my greatest, most precious resource, so maintaining morale is one of my highest priorities, especially during trying times like the pandemic. There are entire books on team management, but one of the keys to how I think about morale is to think about the long-term value of my relationship with my team. This means not only investing in their professional and personal growth, but also holding them to the highest standards and making sure they are in a role that truly fits them.