Branding Q&A
-
What are the biggest challenges facing agencies handling brands on behalf of pharmaceutical clients that either merge or become acquired? Is there fair warning to adjust to changes? Is it business as usual?Answered July 21st, 2009 by Expert:The biggest challenge is to survive the merger or acquisition and often it is just not possible. In the case of a merger, don’t try to predict the winner in the inevitable power struggle that follows. That will make it look like you are choosing sides. Whether it is a merger or an acquisition do try immediately to get in front of the new players as quickly as possible with a well-thought-out and thoroughly documented review of who you are, what you have done on the brand, and what real contribution you have made. Include a summary of why the history you bring on the brand and the market is valuable. Include examples of work you have done for brands that the new team might be familiar with. Often agencies get fired by the new team just because they have not made the effort to resell why they should keep the business. Make sure that the current client team, if any are still there, know that you are reaching out so they don’t feel like you are going behind their back.
Despite your best efforts, the chances of getting fired are still pretty high. Protect yourself in the future by broadening your client base and keep in mind that in the long run you’ll be on the winning side of these mergers about as often as you’ll be on the losing side. And stay in close touch with the folks leaving the newly merged or acquired company. If your work for them was good, you should be able to follow them to their next jobs.
Leave a reply



