Well, it’s nearly over, this mixed bag of a year. Sitting where we do, in the middle of agencies and clients, we get to see and hear a lot of different views of this economic climate.
We know personally of several agencies who have had to shut their doors this year, never good news, particularly when staff have been laid off.
Interestingly, most of the agencies we know who’ve gone under have blamed themselves rather than ‘the market’. They attribute their demise to leaving it too late to respond to the changing needs of clients and their marketing budgets. Examples include:
- not developing a serious digital offer whether through acquisition or partnership
- not having a clear offer and/or targeting strategy for business development
- a lack of investment in proactively looking for new clients and/or markets
On the other side of the coin, we’ve added over 600 new agencies to our already extensive agency database and more of our clients have won business this year than for the last 5 years.
Out of interest, here is a breakdown of client wins by discipline:
- Research: 19%
- Digital: 17%
- Full service/integrated: 17%
- Design/branding/packaging/corporate com: 17%
- BTL, PR and media planning &buying: 30%
As a glass half full kind of person, I always look forward to the forthcoming year with the hope of more and better! I wish this to all my readers!