Over half of agencies surveyed said that obtaining new business was “harder” or “a lot harder” than it was in 2007.
Observation: Traditional methods of obtaining new business has not been effective. The rise in popularity of new media plus the state of the economy has accelerated marketing budgets move to online. According to current research, traditional ad agencies are not digitally prepared.
Michael Gass Consulting recently sponsored the 2008 Advertising Agency New
Business Survey, a national online survey of small to midsize advertising agencies.
The purpose of the survey was to gain insight into the perceptions and trends regarding agency new business in light of the current tumultuous economic climate.
Our sample came from a database of 4,955 U.S. full-service advertising agencies ranging in staff size from 5 to 80 full-time employees. An online link to the survey was also made available. We emailed the survey advertising agency CEOs and new business directors in August and kept the survey open through October 5, 2008 using an online questionnaire. There were 302 agencies that responded.
The survey was developed and results analyzed by Michael Gass Consulting, with greatly appreciated support and input from Dr. Phillip S. Rogers. Special thanks to THE LIST for providing the data sampling.