The New Business Environment for Marketing Agencies in 2023

Many American marketing agencies are finding it harder to obtain new business this year compared with last year, according to recent research from RSW/US.

 

The report was based on data from a survey conducted in 2023 among 250 executives who work for advertising and marketing agencies in the United States.

 

Some 37% of respondents say obtaining new business in 2023 has been harder and 21% say it has been a lot harder.

 

The 58% of agency executives who say they’ve found it harder to obtain new business in 2023 is a significantly higher share compared with the 43% who said the same in 2022.

 

Agency executives say obtaining new business has been difficult for a range of reasons, including fewer opportunities, struggling with breaking through, and challenges reaching the right people at target organizations.

 

Some 41% of agency executives say the dollar amount of new opportunities has decreased this year, 31% say it has remained the same as last year, and 27% say it has increased.

 

About the research: The report was based on data from a survey conducted in 2023 among 250 executives who work for advertising and marketing agencies in the United States.

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