December 11, 2023
Quantifying the environment around us is a fundamental human tendency. Additionally, it seems appropriate to contribute now, considering the impending U.S. Census in 2023.
Our team recently accomplished precisely that: we peered forth and started counting, much like our astronomical forebears did beneath ancient skies. How did we tally?
Each and every American marketing agency. Sort of.
To be honest, it would be silly to announce a precise count. We used internet listings as our source, so there is a lot of room for mistake. Two weeks after you count them, several agencies are acquired by rivals. Some fade away offline but persevere online. Some, however, never existed at all; they were only shells, constructed by hustlers using UpWork to announce their team as prepared for your next major undertaking.
All we know is that there are thousands, if not more, of marketing agencies in America. In order to include as many fields as possible, we searched through 4,000 ads and examined 900 websites and LinkedIn corporate profiles. Advertising, branding, content marketing, design, public relations, SEO/SMM, web design and development, social media, and so forth are some of these.
In this blog, we will discuss our four main conclusions concerning the state of marketing agencies in the United States in 2023. We invite both leaders and contributors to take a seat back, take a deep breath, and consider your career path within the agency industry.
1.Preserve Your Uniqueness as You Develop
According to our data, 18% of agencies have between 40 and 200 workers, while 77% of agencies employ between 10 and 40 people. We wonder how many small businesses want to grow and how many large organizations want to shrink back to their original size. Do agencies end up sprawled over a shrimp platter backstage, yearning for their gritty, leaner club days, like to rock bands when they go from playing arenas? It poses the important query, What do we lose as we grow? - It is important for small organizations to be aware of the challenges ahead and to publicly uphold certain ideals that may be compromised as they grow. Large organizations have to take stock. Which things have been lost: community, agility, and focus? Choose an aspect of your past identity that you wish to regain. Make it a goal for 2024.
2.Prepare for Longevity and Legacy
Dogs live between 10 and 13 years on average. With regard to a marketing firm? Not much more time. There is a sharp decline in the number of marketing agencies in America beyond the age of 19—61 percent of them are above that age. What causes that to be the case? Consider what affects the lifecycle of an agency. The ratio of internal to exterior is what? Due to the fact that markets and technology tend to advance past their initial state of mastery, are agencies virtually outliving dogs? Or is it because ambitious entrepreneurs find it difficult to see their companies through to the end of their lives, and 20 years is about the ideal length for a human career? At different stages of an agency\'s existence, there are a number of things to consider and take action on.
Keep in mind that your agency\'s heart is its core of energy. If it originates from a lone charismatic founder, steer clear. Many individuals should be involved in maintaining an organization\'s heartbeat. Examine how markets and technology have changed around you without flinching since the beginning. It does not follow that you are ready to master what is coming up next just because you mastered something that was novel five years ago. Many plans are necessary for a long existence.
3.Enable women to lead instead than just hiring them
This is a huge issue that deserves far more discussion than I can provide here. However, I would like to be open about the way our agency was established and the implications for gender parity in agency leadership. Like so many other economic sectors, the agency industry has appalling figures. However, female leaders do not just appear, and advancements will not bring about equality on their own. These figures would hardly change even if we were to flip a switch and all 250+ marketing agencies throughout the nation had all female C-suites.
This is not a corporate issue; rather, it is a small company issue. In order for young women to feel inspired to launch their own enterprises, like our owners did, we need to create an industry, economy, and culture. Agency executives are faced with the following challenge: at this very moment, are there women working and developing meaningfully with other women in your company who could feel confident enough to go out on their own in the future? It ought to exist.
4.Create a Genuine Initial Impression
Let\\\'s talk about something more positive: is it possible to eradicate the horror that is stock model photography? Kindly. Agencies should not be using sterile stock photos to represent themselves in a world where user-generated content and social media\\\'s unparalleled intimacy and accessibility rule the day. There is a huge possibility with the homepage hero image. It is used in a variety of ways by American marketing agencies. Most display people, things, or locations. A lightbulb, a group of people gathered around a table, or the skyline of a city may be seen.
Naturally, the chance is not just to appear fashionable or well-groomed, but also to exhibit professionalism, knowledge, and moral principles. Agency heads ought to ask themselves: is my homepage hero everything it can be, or is it just what we have seen other people do?
An adequate depth of concentration occupies a large portion of our daily grind; we manage the job at hand, our people, our quarterly and annual goals, and our business vision. Every now and then we go a step farther and think about our markets and competition. Occasionally, we are also challenged to think more deeply and contemplate existential issues pertaining to equality, longevity, and our relationship to the past. We hope that this information is useful to you.