WPP’s GroupM, the largest media agency empire in the advertising industry, has been facing challenges recently and is taking steps to address them with the creation of a new „global growth and marketing team.“ This move comes as a surprise, considering that media agency Wavemaker has emerged as a top performer within the GroupM network. Wavemaker was formed through the merger of MEC and Maxus, two agencies with a history of success and innovation. Despite initial skepticism, Wavemaker has proven itself to be a formidable player in the industry, surpassing MediaCom and Mindshare in terms of performance.
Under the leadership of WPP CEO Mark Read, tech specialist Essence has been positioned above MediaCom in the new EssenceMediacom venture. However, this strategic move has yet to yield significant results. Meanwhile, Mindshare continues to operate independently, focusing on its own strategies and objectives. Wavemaker, on the other hand, has demonstrated strong performance under the leadership of global CEO Toby Jenner, who now also serves as the global president of GroupM clients. Jenner is supported by Wavemaker’s chief growth and marketing officer Hamish Davies and head of growth operations Emma Maple, along with key personnel from EssenceMediacom.
The formation of the new global growth and marketing team signals GroupM’s renewed focus on new business development, an area where the agency has experienced some setbacks in recent times. In the past, GroupM’s size and influence allowed it to secure favorable deals and expand into new territories. However, with the increasing emphasis on digital advertising and data-driven strategies, the landscape has shifted, requiring agencies to adapt and evolve. WPP, in particular, faces stiff competition from rivals like Publicis, who have invested heavily in data and technology resources.
To address these challenges, WPP has brought back industry veteran Brian Lesser to lead GroupM’s data initiatives, replacing Essence founder Christian Juhl. Jenner, along with his team from Wavemaker, is spearheading the agency’s efforts to win new clients and drive growth. While some may question the decision to restructure the agency network, Wavemaker has been entrusted with the task of revitalizing GroupM’s position in the market.
In hindsight, it is possible that WPP could have retained Maxus, a strong performer with a solid track record in new business development, instead of merging it with other agencies. MediaCom, another successful entity within the GroupM network, could have been left untouched, while Essence could have been positioned in a more tech-focused environment. Nevertheless, Wavemaker has been given the opportunity to lead the charge and rescue GroupM from its current challenges.
Overall, the formation of the new global growth and marketing team represents a strategic shift for GroupM as it seeks to regain its competitive edge in the rapidly evolving advertising landscape. With a focus on data-driven strategies and new business development, GroupM is positioning itself for success in the future.