Michael Farmer of consulting firm Farmer & Company spoke at the 2015 PRWeek Conference to the risks that can arise when a client takes on multiple agencies. According to Farmer, having fewer agencies per client "used to be the model" until two trends hit the industry.
"Clients had agencies of record when media was a lot smaller, and then two things happened: agencies decided to continue to specialize in whatever they were doing so that the marketplace expanded with digital, social, direct marketing," Farmer said. "And clients got the idea that they wanted best-in-class, so they significantly expanded the portfolio.
"It's a mistake."
Hear Farmer's reasoning against taking on multiple agencies in the video above.