While COVID-19 Initially Disrupted New Business Efforts, Small and Mid-Sized Agencies See Key Advantages over Larger Firms
CINCINNATI, Ohio, Sept. 15, 2020 /PRNewswire/ -- RSW/US, the nation's leading outsourced lead generation & business development firm for marketing agencies, just completed its annual RSW 2020 Agency New Business Report: Perspective On The Agency New Business Environment, 2020 and Beyond.
This is the 10th year of the survey and RSW presents comparable data available across all previous editions, providing insight on trends in key areas over the past decade.
Not surprising that 2020 has proven to be one of the toughest years for agencies to find and win new business. Even the climate, post the 2008 recession, while difficult, did not match the challenges many agencies are facing today.
Smaller agencies have work to do from a new business standpoint: only 16% report creating new case studies on a monthly basis (versus 53% of larger agencies) and 78% of agencies said their website was either "somewhat" or "not at all" fully optimized to help them win new business.
There are, however, positives throughout the report as well. For example, 80% of larger agencies said they are satisfied with their new business program. And there were a few key advantages revealed for small and mid-sized agencies over larger firms.
For example, only 38% of smaller agencies reported the loss of trade shows "somewhat" or "significantly" impacting their prospecting efforts. 58% of larger agencies reported the same impact. While 38% is still a concerning number, small to mid-sized agencies have the advantage of being able to pivot in a nimbler fashion and move more quickly to change new business strategy.
Another example: 58% of larger agencies reported they are in a competitive pitch 1x/month or more often – as compared to only 23% of smaller firms. While this percentage has always been smaller for small to mid-sized firms historically, it has never been starker that in 2020, with less formal pitching during the pandemic.
The RSW 2020 Agency New Business Report will be a valuable new business asset to small and large agencies as they look to trends that provide a better understanding of the remaining 2020 landscape, and into 2021.
About RSW/US
RSW/US helps marketing agencies find meaningful new business opportunities and get them closer to close. To learn more visit www.rswus.com or call Mark Sneider at 513-559-3101.
Contact: Mark Sneider
Phone: 513-559-3101
Email: [email protected]
SOURCE RSW/US
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