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This year has been better than last year for marketing agencies, with most finding more new business opportunities in 2021 compared with 2020, according to recent research from RSW/US.

The annual report was based on data from a survey conducted in September and October 2021 among 120 executives who work for marketing, advertising, and PR agencies.

Some 51% of marketing agency executives say the number of new business opportunities has increased relative to last year and 37% say it has stayed the same. Only 12% of marketing agency executives say the number of new business opportunities has decreased relative to last year.

Change in business opportunities for marketing agencies

Some 38% of marketing agency executives say obtaining new business in 2021 has been easier compared with last year and 35% say it has stayed the same.

In 2020, more than two-thirds (67%) of marketing agency executives said obtaining new business had become more difficult compared with the previous year.

Difficulty of marketing agencies' obtaining new business

Marketing agency executives say the most effective tools/approaches for generating new business over the past year have been gaining business from existing clients and referrals.

Tools effective in generating new business for marketing agencies

About the research: The report was based on data from a survey conducted in September and October 2021 among 120 executives who work for marketing, advertising, and PR agencies.

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ABOUT THE AUTHOR

image of Ayaz Nanji

Ayaz Nanji is a digital strategist and a co-founder of ICW Media, a marketing agency specializing in content and social media services for tech firms. He is also a research writer for MarketingProfs. He has worked for Google/YouTube, the Travel Channel, AOL, and the New York Times.

LinkedIn: Ayaz Nanji

Twitter: @ayaznanji