January 4, 2018, Wyomissing, PA – New business is a crucial part of running an advertising agency, and through 2016, small to midsize ad agency owners continued to keep new business top of mind.
Second Wind, a national association of smaller and midsize advertising agencies, annually surveys its 700+ agency members across the U.S. to gather data for the annual report.
Approximately 75% of respondents have proactive new business plans in place, an increase of 10% from the previous year. The new business plans are proving successful, with respondents stating they had an average of 25 new business pitches in 2016, gaining 14 accounts from these pitches.
Respondents to the Annual Survey use a variety of methods to seek and acquire new business. The most successful method for new business was referrals with 39% of respondents saying this was their primary method. Almost a third of respondents (28%) said new business from current clients is a great source for new revenue.
While 75% of respondents have new business plans in place, only 36% employ a full-time new business developer at their agencies. The average new business developer compensation in 2016 was $93,760.
“We’re happy to see that our members still consider new business a top priority for their agency. We can’t stress enough the importance of regular new business development, both for the revenue it can bring to the agency, and the protection new account acquisitions provide against client turnover. As our members continue to see the impact of a strong new business commitment, we predict the percentage of agencies hiring new business developers will increase,” said Laurie Mikes, COO of Second Wind.
The Annual Agency Survey Report allows Second Wind members to compare their data with average data from other member agencies. It is the most complete survey of smaller to midsize agencies that exists today.
The Annual Agency Survey Report is published exclusively for Second Wind members. In addition to annual surveys, members of Second Wind benefit from seminars and workshop opportunities as well as daily access to research, professional guidance and online forums. Second Wind also offers a new-business-related POWERpack, available to members and non-members. Please visit https://www.secondwindonline.com/powerpacks for more information. To learn more about Second Wind membership, call 610-374-9093 or visit www.secondwindonline.com/membership.
Founded in 1988, Second Wind is a thought leader and innovator to the advertising and marketing community, dedicated to helping members and users “BE better.” Second Wind serves advertising, graphic design, public relations, interactive and marketing firms across the US, Canada and internationally.
Contact: Laurie Mikes: 610-374-9093 or laurie@secondwindonline.com
