Social media platforms are the most commonly-used new business tools by agencies, finds a new surveyfrom RSW/US and Mirren
Mirren and RSW/US Join Forces to Identify the Most Effective and the Most Over-Rated Agency New Business Tools. While social media is an extremely popular tool for agency new business (used by 87% of agencies), only 18% of agencies think it’s effective!
Lee McKnight Jr., director of business development at RSW/US, agrees: “In my experience at least, it’s pure networking. You’ll have the added awareness that the handful of crowdsourcing agencies have created in certain cities for freelancers, but otherwise, it’s all networking as far as I know.”
With digital marketing poised to take a larger part of the ad budget at most firms, it’s worth asking whether ad agencies that specialize in digital will own the future. A new report from RSW/US suggests that the best strategy for an agency in these competitive times may be to specialize in 2-3 industries and offer integrated, both digital and traditional, marketing services.
Marketers rank strategic insights as their most important criterion when reviewing new agencies, according to results from an RSW/US survey, placing more emphasis on an agency’s strategic capabilities than on its creative ideas, chemistry, and cost. The RSW/US survey is one of several to share that result (see here and here for examples). It also finds that marketers’ top criteria line up with how agencies believe they should be evaluated.
Less than half of marketers say agency specialization is gaining in importance