Digiday+ Research: Agencies anticipate clients’ ad spend will grow in 2023, despite headwinds
Ivy Liu
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Agencies had a good year in 2022.
Nearly 80% of the more than 70 agency professionals surveyed by Digiday+ Research in December said their companies’ revenues increased in 2022, and more than two-thirds said they think their revenues will increase again this year.
Digiday also found that this optimism extends to agencies’ ad spending on behalf of their clients.
Digiday’s survey found that after a strong year of client spending in 2022, agency pros expect more of the same in 2023 — even as the economy remains on uneven ground. Last year, 55% of agencies said their companies’ ad spending on behalf of clients increased. And this year, 59% expect clients’ ad spend to increase further. It is important to note the extent to which ad spending increased. Most of the respondents to Digiday’s survey (45%) who said their clients’ ad spend increased in 2022 said that spend increased somewhat. Meanwhile, only 11% of respondents said their clients’ ad spend increased significantly.