Last week we learned that KBSP co-founder John Bond, who left the agency earlier this year, has become an investor and strategic partner at crowdshop Victors & Spoils. Bond and V&S co-founder (and former journalist) John Winsor have (naturally) been discussing the business, and Winsor wrote up a bit of his new partner’s thoughts. Here’s a snippet. Warning, it may make you lower-end people throw up a little.
Question: How will increasing client demand for higher quality at a fair price impact the current size and scope of agencies?
Bond: In the current model the top talent are underpaid and the bottom people are overpaid. That is true commoditization. FTEs are commoditizers because they reward hours versus results and talent, which isn’t advertising — it’s the post office! If we want to regain the top talent we’ve lost, we need to take a tip from Hollywood and make the rewards of stardom spectacular.
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I know what you’re thinking, but what Bond is saying is that advertising should be a meritocracy. This idea has been discussed for years — some stating that the entire industry should be merit based. Would it work? Who knows. Click here to read the rest.