AdExchanger Talks: Wendy Clark Says, ‘Do Your Homework’ Release Date: November 14, 2024
Introduction In this enlightening episode of AdExchanger Talks, host Allison Schiff engages in a comprehensive conversation with Wendy Clark, a trailblazer in the advertising and marketing technology industry. Wendy, currently the Partner and President at consulting group Concelo, brings a wealth of experience from her previous roles as the Global CEO of Dentsu and CEO of DDB Worldwide—the first female CEO of a global agency network. The discussion delves into her leadership journey, industry insights, and pivotal trends shaping the future of ad tech.
Personal Background and Early Career The episode kicks off with Allison uncovering some lesser-known facts about Wendy. Wendy shares intriguing personal details, such as being born and raised in England, having heterochromatic eyes (one blue and one green), and her uncle’s notable role as the Queen's press secretary in the 1970s.
Transition to Concelo Wendy elaborates on her transition from leading a massive global agency like Dentsu, which encompassed over 45,000 employees, to joining Concelo—a much smaller, hands-on consulting and advisory firm. She describes Concelo as a "sleeves-up, dirt-under-the-nails, hard-working environment" where former operators like herself collaborate directly with clients to drive impactful outcomes. Wendy emphasizes the fulfillment she finds in being closer to the work and directly influencing strategic decisions.
Principle-Based Media Buying A significant portion of the discussion centers on the controversial topic of principle-based media buying. Wendy addresses the skepticism surrounding agencies purchasing inventory in bulk at discounted rates and reselling it to clients with a markup. She states:
“[19:37] Wendy Clark: [...] At the very core of this has to be a trusted and open dialogue between brands and their agencies. [...] Ensure that the terms of what you expect from that relationship are outlined in your contract.”
Wendy underscores the importance of transparency, rigorous auditing, and detailed contractual agreements to mitigate issues like hidden fees and margin squeezing. She advocates for brands to be engaged clients, actively involved in overseeing media buys to ensure alignment and accountability.
Leadership During the Pandemic Reflecting on her tenure as CEO of Dentsu during the tumultuous pandemic years, Wendy recounts the challenges of leading a global team remotely. She highlights the emotional toll and the critical role of maintaining team morale, saying:
“[17:01] Wendy Clark: [...] I have to say genuinely, after 33 years of working, I love it. I love being at the coal face of business.”
Wendy credits her leadership approach—characterized by open communication and empathetic engagement—as pivotal in restoring revenue growth and profit margins within three quarters of initiating a major consolidation project.
Agency Holding Company Model When discussing the efficacy of the large agency holding company model, Wendy presents a balanced view. She acknowledges that while holding companies can offer extensive resources and a broad range of services, they may not suit every client’s needs. Wendy advises:
“[37:44] Wendy Clark: [...] you have to do the hard work. [...] think about your strategy, I think about your team, I think about your objectives and goals.”
She emphasizes the necessity for brands to diligently assess their strategic needs and select partners—whether large holding companies or independent agencies—that align with their specific goals and foster a transparent, collaborative relationship.
Artificial Intelligence in Ad Tech The conversation shifts to the role of AI in advertising. Wendy expresses cautious optimism, noting:
“[41:23] Wendy Clark: [...] AI is a transversal, right? It's going to impact every facet of our lives somehow.”
She advocates for incremental adoption of AI, encouraging brands to integrate AI technologies gradually to enhance efficiency and outcomes without overreliance. Wendy also discusses the importance of performance-based compensation models in the era of AI, suggesting that agencies and brands collaborate to define clear, outcome-driven metrics.
Women in Leadership Addressing gender diversity, Wendy reflects on her experience as the first female CEO of a global agency network and the broader challenges women face in attaining executive positions. She shares:
“[56:49] Wendy Clark: [...] our institutions were created by men and for men. [...] we have to do the hard work to systematically undo some of these things.”
Wendy emphasizes the need for incremental changes, such as revising outdated policies and fostering inclusive workplace cultures, to create equitable opportunities for women in the industry. She also highlights the importance of representation in shaping perceptions and encouraging future generations of women to aspire to leadership roles.
Ad Tech Vendors and Ecosystem Collaboration Wendy offers a nuanced perspective on ad tech vendors, viewing them as essential components of the advertising ecosystem when chosen thoughtfully. She states:
“[52:06] Wendy Clark: [...] ad tech partners are absolutely important part of the ecosystem and it just becomes which ones you want to work with and how you want to plug them into what you're trying to accomplish.”
Wendy advocates for building partnerships based on mutual trust and collaborative goals, ensuring that ad tech tools and platforms are seamlessly integrated to enhance campaign effectiveness and consumer engagement.
Final Takeaways Allison wraps up the conversation by distilling Wendy’s key message:
“[39:37] Allison Schiff: So, guys, Wendy Clark wants you to get up off your butts. That is my takeaway.”
Wendy concurs, reinforcing the value of diligent effort and thorough research in achieving sustained success:
“[63:01] Wendy Clark: [...] the hard work is worth it. That is my takeaway for a lot of what we talked about today.”
Conclusion Wendy Clark's insights offer a profound understanding of leadership, strategic partnership, and the evolving landscape of advertising technology. Her emphasis on transparency, hard work, and incremental progress provides valuable guidance for brands, agencies, and professionals navigating the complexities of the modern ad tech environment. This episode serves as a compelling resource for anyone interested in the intersections of leadership, technology, and strategic marketing.
Notable Quotes
- Wendy Clark [04:21]: "I have no regrets and I'm very thankful."
- Wendy Clark [19:37]: "At the very core of this has to be a trusted and open dialogue between brands and their agencies."
- Wendy Clark [37:44]: "You have to do the hard work. [...] think about your strategy, I think about your team, I think about your objectives and goals."
- Wendy Clark [56:49]: "Our institutions were created by men and for men. [...] we have to do the hard work to systematically undo some of these things."
- Allison Schiff [39:37]: "Wendy Clark wants you to get up off your butts."
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