Watch out, agencies. As if you didn’t face enough challenges in this business environment, now venture capitalists are out to get you. Well, one firm at least. Ian Sigalow, a principal at Greycroft Partners, said at a conference that the firm is looking into “agency replacement software” as one of its key investment areas, reports MediaPost.
“Companies have agencies for public relations, buying media and planning marketing campaigns,” said Sigalow. “We’re looking at companies that let them do these agency services in-house.”
No word yet as to whether or not this kind of software will be able to replace key agency functions such as “wining and dining clients” and coming up with top notch creative ideas. We kid, we kid.