16 Agency Business Development Tools You Need to Thrive in 2019
And as Mark Kelly points out on Smart Insights, the ultra-competitive nature of the modern agency landscape means that you can’t ignore new business development. When you’re competing against not just your local agencies but shops sitting halfway across the world (who can undercut you on price), you have to be proactive in your search for new business.
To make new business easier, you need agency business development tools. There has been a steady rise in the number of agencies using such tools. For instance, an RSW/US survey found that the percentage of agency execs using list building software increased from 45% in 2015 to 69% in 2018.
More than half (52%) of both marketers and marketing agencies are expecting to see marketing spend increase somewhat or significantly in 2019. But for marketers, this percentage is lower than last year’s 60%, according to recent survey data [download page] from RSW/US.
It may be due to this slight decrease in marketers’ confidence regarding spending – among other factors – that agencies increasingly believe that winning new business will become more difficult. More than half (56%) of the 115 US and Canadian agencies executive surveyed said they believe that generating new business will be either somewhat or a lot harder in 2019 than it was in 2018. This is the lowest confidence in winning new business agencies this decade (looking at bi-annual reports).
Meanwhile, LinkedIn ranks as the top social media platform used by U.S. ad agencies for marketing purposes, as it’s used by 89% of 300 marketing and advertising agency executives surveyed earlier this year for the RSW/US-Mirren New Business Tools Report 2018. Facebook and Twitter will be used by 78% and 75%, respectively.
How Many Marketers Use Snapchat and Instagram in the US?
Another factor driving strong marketer usage of Instagram is its close ties with Facebook, particularly when it comes to advertising. When making an ad buy on Facebook, marketers can simply check a box to add Instagram feed ads or Stories ads as additional placements.
In a March 2018 survey of 300 US senior agency executives by RSW/US and Mirren, 66% of those polled said they use Instagram, and 36% said they use Snapchat.
With Procter & Gamble, Unilever and United Airlines joining the growing list of companies leaving agencies to fold marketing functions in-house, voices all across the agency world have wondered aloud: What gives?
3 Ways to Steer the Right Creative Talent Toward Your Business
In fact, a 2017 survey conducted by RSW/US revealed that traditional agencies are seeing fewer client referrals than ever before, which Adweek attributes to an increase in brands forming their own in-house teams. For highly qualified creatives, this transition in agency structure provides an abundance of opportunities.
Agencies see change ahead as clients take more marketing in-house
As brands continue to bring marketing capabilities in-house, agencies have no choice but to adjust.
Brands like Procter & Gamble, Unilever and United Airlines are bulking up their in-house capabilities, and others are following suit. “We are now seizing back control,” P&G marketing chief Marc Pritchard declared recently. The outcome of the move could be disastrous to agencies’ bottom lines. WPP Group’s share price, for instance, is down 14 percent from the start of the year.