Should Agencies Build or Buy Reporting Products? #amazonagency #short

Name: Should Agencies Build or Buy Reporting Products? #amazonagency #short
Uploaded: 2023-04-07T13:00:32+00:00
Duration: 56 s
Channel: Andrew Hamada
Description: A short dialogue (YouTube Short) where two speakers discuss whether agencies should build proprietary analytics/reporting tools or buy off-the-shelf…

7 Apr 2023 · 1 min

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A short dialogue (YouTube Short) where two speakers discuss whether agencies should build proprietary analytics/reporting tools or buy off-the-shelf platforms. They note buying turnkey products saves customization time but risks commoditizing insights and reducing differentiation, which can make it easier for clients to leave; building proprietary, defensible IP can help agencies differentiate and retain clients.

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We need a lot of agencies and brands who are very focused on building their own analytics.
Tools, whether that means an entire platform.
Or just proprietary reporting.
Dashboards that don't leverage some other tool.
This is super interesting to us. The question that I think all of these folks need to.
Answer first is.
Why should we.
Build our own tools instead of just buying what's available on the market?
There's a lot of appeal in buying a turnkey product that you don't have to spend a bunch of time customizing.
Or building or investing in yourself.
There are a lot of downsides to.
Doing that as well.
One is that it means that your insights and your.
Platform are commoditized.
If you're using.
A super popular platform.
That means any other.
Agency that is also using that.
Platform is potentially using the same data, the.
Same insights to drive their business.
And that means that.
You have less differentiating power. It also makes it easier for your clients to leave you.
I think a lot of agencies recognize this and are really invested in building.
Their own defensible ip.
Makes it easier for them to pitch.
Their uniqueness.
To clients and makes it.
Harder for folks to switch.