Challenges Faced By Small- And Mid Size Agencies Essay
Do you have a plan for how your agency will grow? Do you know what your ideal size and profitability is?
If you don 't know the answer to these questions, you are not alone.
An agency 's growth is usually organic. You win a client. And another client. Then, you lose a client. You bring on a specialist in content marketing or SEO so you add a new service to your offerings.
Eventually, you look around and the agency is much different than what you imagined. And you 've got a lot of things to consider that have nothing to do with creativity or strategy.
Swystun Communications recently released the report "Big Value: A Study of Small & Medium Sized Advertising Agencies," which highlights the advantages, disadvantages, challenges, and opportunities small and mid-size agencies face as reported by 850 agencies in the U.S.
One of the most interesting parts of the report outlines seven main struggles agencies feel they face in the current environment. The list includes:
1. Staying on the cutting edge of technology
2. Investing for growth
3. Balancing new business with service
4. Attracting the attention of agency search consultants
5. Overcoming the “generalist” stigma
6. Competing with larger agencies
7. Client success (If the client grows, then they will go to a bigger agency.)
The challenges identified had nothing to do with being able to produce brilliant ideas. These are about agency branding and marketing and the…