One such example is Deloitte LLP, which recently acquired a creative agency called Heat. Since launching their creative consulting unit, Deloitte Digital, in 2012, Deloitte has now acquired 11 digital marketing firms with the recent deal with Heat.
Chief executive of Deloitte Digital, Andy Main, told the Wall Street Journal, “We realized the consulting industry needs a bit of a shake-up and the way you do that is bring creative thinking to the business.”
Other consulting firms are following in Deloitte’s footsteps, including PricewaterhouseCoopers and International Business Machines. Both PwC and IBM have each acquired multiple creative firms in the last couple of years.
With these new acquisitions, consulting firms have become a competitor for some of the large advertising firms on Madison Avenue, according to Vranica. Vranica explains in her article, “Companies like Deloitte, PwC and IBM are expanding the traditional set of companies competing for marketing dollars, in turning challenging advertising giants such as WPP PLC, Publicis Groupe SA and Omnicom Group Inc.”
The author, Bob Ottaway, is President and Founder of Ottaway Digital. Established in 1999, it has been a pioneer in SEO, digital advertising & social media since 2006.