This is post #5 in our series around our 2024 New Year Outlook Report, and we’re talking ad agency plans to leverage AI for business development growth. In a new question for our report, we asked agencies, “Are you planning on adjusting your overall business strategy to incorporate some form of AI in 2024?” And […]
This is post #4 in our series around our 2024 New Year Outlook Report, and we’re exploring the reasons why marketers decide to review new agencies. We see some changes here from last year’s report, and an initially surprising one. We’ll begin by breaking down the top 5, in order of 2023 data: Lack of […]
Are we at the dawn of a new golden RFP age where they fade to dust? 65% of marketers said the RFI/RFP is still effective, versus 82% last year. Has the worm finally turned? Undoubtedly not, but perhaps we’re finally seeing some cracks in the foundation. A 17-point drop is significant. It’s been a process […]
This is post #2 in our series around our 2024 New Year Outlook Report, and we’re talking how marketers discover new ad agencies. This is a question we asked marketers in our survey, and for initial comparison purposes, here are the top 4 ways marketers found new agencies in 2022 and 2023, in order: 2022: […]
Welcome to Part 1 of our blog series, “Overall Business Performance Expectations for 2024”, written around our 2024 New Year Outlook Report. (Download it here at no cost.) 2023 was a wild ride, perhaps a bit too wild, as we found in our report. Close to 50% of agencies and almost 40% of marketers said […]
Continuing content around your agency’s business development efforts, and coming off last week’s post on four consecutive months of growth in the U.S. ad market (Brands, Agencies, and The Currency Of Resiliency), more good news this week: In November, employment in US advertising, public relations, and related services reached an all-time high for the […]
Three articles caught my eye over the last few weeks, and collectively they embody several critically important business development guideposts for ad agencies leading into 2024, ultimately focusing on the concept of the currency of resiliency. Two of those articles are, Ad Market Expands For Fourth Consecutive, October Climbs 3.2%, and Brian Wieser Boosts Ad […]
In our 2023 Agency New Business Report, we asked agencies what they considered to be the most effective tools at generating new business. Continuing the trends from 2021 and 2022, new business to date in 2023 has come from referrals and existing clients. Both of these sources should be part of your business development program, […]
Business Development-More Reactive Than Proactive In our 2023 Agency New Business Report, we asked agencies: Are you satisfied with the success of your new business plan/program? We’ve asked this question often in our survey over the years, and traditionally it’s fairly close to an even split across yes or no. This year that’s changed, with […]
In this post, we’re discussing 4 mistakes ad agencies should avoid when hiring for new business. One of the keys to driving new business is of course the individual, or individuals, leading the charge. Hiring an internal new business director is one way to go, and in our 2023 Agency New Business Survey, we asked […]
