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Is The World’s Fastest Agency About to Give The World’s Slowest Agencies a Run for their Money?

Tortoise and the hare color

We exist in the era of the here and now. Living life in real-time and creating media to meet this demand is unchartered territory that confuses and causes fear as much as it inspires and produces incredible opportunities.  Anyone that can’t adapt to and accommodate this growing demand for immediacy (for content and strategy to feed the real-time beast) will undoubtedly be left behind. This is far less an ominous prediction than a bare-knuckle fact.

Enter the recently-launched World’s Fastest Agency — the new kid on the block in digital advertising making waves right out of the gate. On their refreshingly minimalist, one-page website they describe their vision pointedly:

World’s Fastest Agency is a new kind of marketing and communications agency. From briefing to a creative solution within 24 hours, WFA helps time-pressured clients keep pace with the lightning fast 24/7 global media and social culture.

Pow! If that doesn’t grab you, stay tuned…

Unlike a traditional agency, World’s Fastest Agency claims to not only be fast, but CHEAP — $999 gets you an entire creative strategy campaign in 24 hours.  It goes a little something like this:

1.  Deposit $999* fee via PayPal2.
2.  Send a 140 character brief via Twitter Direct Message to: ​@FastestAgency
3.  Within 24 hours you will receive your 140 character creative pitch from World’s Fastest Agency via Twitter Direct Message.

It’s the fast food of advertising. It’s also a compelling concept that hints at the future of advertising while big ad agencies struggle to innovate and keep up with client demand for real-time strategies with bloated staff and slow-as-molasses turnaround times. At their core, World’s Fastest Agency seems to understand this industry quandary.  The last line of text on their website (a footnote, at that) speaks directly to the clients who are frustrated by agencies operating with old business models that can’t create and execute in near-real-time:

“*ever notice ad agencies never place the price of their service online? This is because it’s 10x this amount in order to pay for all that waffling on in endless meetings…”

Could The World’s Fastest Agency win the day by simply positioning itself as the “anti-agency”? Hardly, but it’s a bold enough stance that (1) gives the startup a large platform to stand on all by itself and (2) through it’s “take no prisoners, go hard or go home” unapologetic attitude, puts agencies, clients and industry talent on notice that a new day really is coming (whether The World’s Fastest Agency is the one to usher it in or not). Be ready, play ball, or get left behind. If you’re going to try to change the game, tip-toeing onto the field isn’t the way to do it. The World’s Fastest Agency definitely isn’t tip-toeing.

In his Ad Age article on the agency’s launch, author Rupal Parekh (@rupalparekh) noted that the concept sounds “gimmicky.” It does. But the question shouldn’t be “Is this a stunt?” but rather, “Can they truly deliver quality campaign strategies quickly, effectively and consistently .” Fast and cheap is one thing — fast, cheap and consistently good is another (just ask any fast food manager).

Floyd Hayes (founder of World’s Fastest Agency, Floyd Hayes (@floyd_hayes)) isn’t worried. Quite the contrary, he’s supremely confident. He tells Parekh: “I’m 100% serious. WFA will provide dedication, expertise, respect and passion to each and every brief it receives… Clients increasingly need quick responses and I can provide this.” And while it  may sound like he’s selling a field of dreams, Hayes also reminds us that he has 15 years of experience in advertising working with big brands. Translation: “I know my shit.”

But not everyone is convinced or impressed:

Advertising services is about getting to the right strategic ideasWhile speed to market is certainly important to clients, rushing to the marketplace with an idea isn’t good for anybody… The truth of the matter is that this approach isn’t close to credible and won’t have any impact on the agencies because it’s not legitimate. ” — Tom Finneran, EVP-Agency Management Services, the 4A‘s:

Oreo Super Bowl tweetRushing to marketplace with an idea isn’t good for anybody? Tell that to the creative team at 360i who catapulted Oreo to social media stardom by capitalizing in real-time on the blackout that occurred during the Super Bowl with one clever tweet that trended immediately.

Just the same, I wonder how digital marketing executives at Evian would feel about Finnerman’s comment. Evian notoriously botched a golden opportunity to capitalize on Mark Rubio’s embarrassing water bottle moment that went viral immediately.  By the time the Evian’s digital media team responded in social media, the rest of the country had moved on to the next thing (maybe Evian should give The World Fastest Agency a call, or rather, a Twitter DM).

Ultimately, legitimacy of TWFA’s model will be decided by the clients who invest in it and judge their results against their expectations (not by other agencies). If it works well for The World’s Fastest Agency’s clients, it’s legitimate. And if it’s legitimate, it will most certainly have an impact on the large agencies (either a ripple effect or an outright tsunami).

But who are the clients for this model? With a relatively cheap price tag of $999 that even cash-strapped startups can afford, it will be just as interesting to see who signs up for The World’s Fastest Agency as it will be to see if and how they succeed or fail.

Parekh offers a hopeful turn of events that will benefit everyone (including large agencies):

Where Mr. Hayes could potentially succeed — and this is only if he has the right agency contacts — is partnering with agencies. He claims he’s happy to work with agencies “running in the background” while the typical RFP process unfolds, or when a sudden opportunity arises on a short time frame.

Things could certainly unfold this way, but I’m not so convinced that they will. Agencies (huge corporations protecting massive interests) are not likely to offset real-time creativity (the golden egg of marketing right now) to a startup outside shop it perceives to be a threat.

I think a likely scenario will be that Agencies will watch Mr. Hayes and The World’s Fastest Agency with a hawk’s eye to see if he attains a respectable level of success and legitimacy. If the model succeeds, they will copy it… quickly. And if Hayes is successful, you can bet your ass The World’s Fastest Agency will be acquired by a large agency quicker than the 24-hour turn around time they guarantee clients.

Will The World’s Fastest Agency give the world’s slowest agencies a run for their money? That remains to be seen, but this will this will be one startup to watch in the coming year.

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NEW BOOKS: Innovative Africa: The new face of Africa (Technology & Startups)

I’m all about emerging markets. Innovation in technology in parts of the world that have historically been on the losing-end of tech-booms excites me. Here’s one book I’m looking forward to reading that was just published this month:  Innovative Africa: The new face of Africa by Will Mutua, Mbwana Alliy

We live in an age of increasing innovation taking place throughout the world. Easy access to cheap or free technology, social media networks and oceans of investors looking to seep their funds into the next game-changing idea has leveled the playing field and created fertile ground for entrepreneurs and would-be entrepreneurs around the world to launch tech startups. It really is a new day.

Silicon Alley-based VC Eghosa Omoiguui is investing $30 million in African startups this year.

Africa (like many other parts of the world) is experiencing an “innovation rebirth” that is holding its own compared to other parts of the world. Particularly with regards to mobile technology (where African nations need and use technological innovations the most), it’s clear Africa is making strides in tech. MobileActive.org (@MobileActive) documents research being done on the numerous mobile technological advances being done in third world countries and many poorer nations in Africa and the results are both surprising and hopeful. While Forbes recently did a post on Africa’s hottest tech startups which you can read here. And since we’re on the subject and I’m sharing, here are tweets from last week’s Open Innovation Africa Summit (#OIAS) http://ow.ly/bl3nw  #innovation

Innovative Africa: The New Face of Africa is a compilation of essays discussing Africa’s current and potential future tech  startup economy. Can’t wait to get my hands on this one. Here are a few of the chapters that should make any entrepreneur, investor, marketer or techie want to grab this book and delve in:

  • Doing Tech Business in Africa: A Few Lessons from Twitter‘s Rise in Africa
  • Which African Country is Best To Do a Tech Startup?
  • The Road Ahead: Blueprint for Building Africa’s Tech Ecosystem
  • Disruptive Innovation in the African Tech Context
  • 7 Stepts to Raising Seed Investment for Africa-focused Tech Startups
  • Mending Africa’s Tech Skills Gap & Tapping into its Youthful Population to Power Innovation in Tech
  • The Making of Silicon Valleys in Africa
  • Looking East: Observations and Lessons for Africa from China’s Startup Ecosystem and Special Economic Zones

Below is more about the book from the publisher. You can also download a preview of the first few chapters here. It’s available on Amazon here.

ABOUT INNOVATIVE AFRICA

Technology and Innovation are playing a vital role in shaping Africa’s future and will continue to do so. This collection of essays on the ‘New face of Africa’ posits an African continent where technology, innovation and entrepreneurship create new opportunities for even further growth on the continent.

We look at a wide array of issues that affect the creation, growth and sustainability of startup and innovation ecosystems around the continent. The book does not seek to address issues at the level of a specific country or locality, but instead looks at things from a broad and high level, with the intention of highlighting issues that are pertinent across borders and cultures. Indeed, some aspects may apply more within some country or culture than others (“Africa is not a country”).

The book is divided into two parts: The first, “Investigating Technology Innovation and Entrepreneurship in Africa”, takes a look at the current state of things and makes observations of what progress has been made, existing challenges and opportunities as well as providing specific recommendations that startups, investors and government can use to further technology innovation and entrepreneurship on the continent.

The second part “In Search of a Model for Technology Innovation and Entrepreneurship Ecosystems that fits the African Context” takes a close up view of three innovative economies: Silicon Valley, China and Israel, from which we try to glean a few lessons about startup ecosystems that could be applied within the African context in order to come up with a (perhaps hybrid) model that works best for the continent and specific nations within the continent.

 

 

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