Many American marketing agencies are finding it harder to obtain new business this year compared with last year, according to recent research from RSW/US.
The report was based on data from a survey conducted in 2023 among 250 executives who work for advertising and marketing agencies in the United States.
Some 37% of respondents say obtaining new business in 2023 has been harder and 21% say it has been a lot harder.
The 58% of agency executives who say they've found it harder to obtain new business in 2023 is a significantly higher share compared with the 43% who said the same in 2022.
Agency executives say obtaining new business has been difficult for a range of reasons, including fewer opportunities, struggling with breaking through, and challenges reaching the right people at target organizations.
Some 41% of agency executives say the dollar amount of new opportunities has decreased this year, 31% say it has remained the same as last year, and 27% say it has increased.
About the research: The report was based on data from a survey conducted in 2023 among 250 executives who work for advertising and marketing agencies in the United States.
