Cincinnati, September 15, 2022 /PRNewswire/ – RSW/US, the nation’s leading external business development organization for marketing agencies, has completed its annual RSW/US 2022 Agency New Business Report.
Over the past two years, this RSW survey and results report has shown that many small and medium-sized agencies have increased or regained growth lost from the previous year. This year he found agencies with a more challenging landscape. For example, agencies report that organic growth is down 11 percent in 2022 as an effective way to generate ad agency new business. Also, only 32% of agencies increased the number of new business opportunities in 2022, compared to 51% in 2021.
Another indicator of a more challenging new business landscape: in 2021, only 28% of agencies said that acquiring new business (compared to last year) was difficult or very difficult. By 2022, it will grow to 43 percent.
This year, a source of trouble to drive new business and agencies are not invested in the development of “new” new business.
This is done in a low percentage (all under 15 percent) due to phone calls, social media, inbound and traditional messaging.
A few other key statistics that explain this increased problem and show the lack of strategic planning around “new” business:
- 55% of agencies say it’s more difficult to onboard prospects compared to last year.
- Somewhat less successful agencies reported their latest new business, down from 60 percent in 2021 to 41 percent in 2022.
- In the year In 2021, agency hiring for a new business director fell to the lowest level since 2010, with only 32 percent of agencies hiring a new business director in the past 3 years. By 2022, the number is 32 percent.
In the year Growth for many organizations should be celebrated in 2021 and 2022, but change is constant in our industry, and growth seems to be slowing down. Going into 2023, it’s critical that agencies have a regulatory framework for “new” new business.
About RSW/US
RSW/US is the nation’s leading foreign business development group, helping marketing agencies find and close meaningful new business opportunities. Visit www.rswus.com or call to learn more Lee McKnight Jr. at 513-559-3111.
Contact: Lee McKnight Jr.
Phone: 513-559-3111
Email: [email protected]
Source RSW/US
