Most marketing agencies (69%) expect business opportunities to increase in 2014, according to a recent report by RSW/US.
That's up from the 60% that expected increased opportunities in 2013, and nearly at the same level as the 72% that said so in 2012.
Agency optimism is confirmed by the plans of clients: 75% anticipate 2014 will be an investment year for their companies, and 50% expect to increase "somewhat" or "significantly" their marketing spends in 2014 (compared with last year's much lower 38%).
Below, additional key findings from the report, which was based on data from a survey of 150 US-based senior level marketers and 170 marketing agency executives.
Types of Spend
- 74% of marketers surveyed expect to see "somewhat" or "significantly" higher spends on digital marketing/media in 2014.
- 61% expect to see an increase on social media spending.
- Only 28% expect to increase their traditional media budgets.
Competition
- 79% of agencies say finding new business will get much more competitive in 2014.
- 86% of agencies plan to be more aggressive in how they handle their new business efforts.
- 63% say clients are increasing competition by involving more agencies in searches than in years prior.
- 43% of marketers say it's true that they are increasingly considering more agencies for their business.
Political Outlook
- Only 36% of marketers say political inertia in Washington will affect their activities—compared with 44% who said so in 2013.
- Agencies are even more optimistic: Only 34% say political inertia in Washington will affect their activities—compared with 52% who said so in 2013.
About the research: The report was based on data from a survey conducted in December 2013 of 150 US-based senior level marketers and 170 marketing agency executives.
