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 […]
undefined Frequently Asked Questions How do marketers find new ad agencies? According to RSW/US survey data, the top ways marketers discover new agencies are: past agency relationships, direct agency outreach, networking, and peer referrals. Direct outreach from agencies has grown significantly, moving from 4th place in 2022 to 2nd in 2023, meaning that proactive, personalized […]
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, […]
undefined A reactive approach is part of a larger pattern holding agencies back. For the full picture on what is driving the difficulty, read our breakdown of the top 3 reasons it’s harder for ad agencies to get new business.
undefined Hiring mistakes compound quickly when there is no solid new business foundation to build on. See the six core reasons why agency business development efforts fail and how to address them before bringing on your next hire.
undefined For a broader look at the structural forces making new business harder across the industry, see our analysis of the top 3 reasons it’s harder for ad agencies to get new business.
