Hasta La Creative!

Advertising agencies’ annual industry meeting is called “Transformation,” but most fundamentals of the business remain the same as ever, American Express CMO John Hayes said in the meeting’s first presentation Monday.

Agencies are still about creating demand, he said. “Nothing more, nothing less.” Clients continue to be demanding, unappreciative and nomadic. And inspiring growth still depends on creativity and interpreting societal trends.

But in that last area, the value of interpretation, Mr. Hayes said there has been one important change: Agencies and brands have lost sight of it.

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