Study: ad agencies optimistic about new business opportunities in 2013
It hasn’t been an easy year for ad agency professionals, but that doesn’t mean they’re pessimistic about 2013.
According to a survey from RSW/US, the majority of ad agencies surveyed (62%) believe that new business opportunities will increase next year compared to 2012. The survey polled 168 agency executives and more than 100 marketing professionals.
About 45% of agencies surveyed believe that opportunities to pick up new business in 2012 exceeded those in 2011. While that may not seem like a huge percentage, it more than doubles the 21% who believe that new business opportunities decreased. About 34% said that the opportunities were about the same. According to the RSW report:
“We suspect that as the economy continues to move ever so slightly forward, and as the elections finally come to a close, we'll experience a higher degree of certainty in the market, which should give marketers more confidence in how and where they spend their dollars.”
Similarly, data from our October Kantar Media SRDS Consumer Magazine Media Planner/Buyer Research showed promising signs from an ad spend perspective.
We surveyed 114 professionals from advertising and marketing agencies, media planning and buying companies and in-house agencies. They estimate 5% growth in what they will spend on consumer magazine media in the next twelve months. Their average budget in the last twelve months was $3.9 million and they expect it to be $4.1 million in the next twelve months.
More than half of the respondents (59%) said their ad spend will be the same, while 27% said they would increase spending and 14% said decrease.
One more piece of insight from? the RSW/US survey: Agencies believe digital (76%) and social (53%) to be the two biggest business drivers relative to other marketing/media platforms.
While we don’t know what the next year will bring, it’s good to know that there’s a positive feel coming from agency folks and that many of them will increase their spending as a result.
What do you think? Will 2013 will be a better year for the advertising industry?