Media Buying Briefing: How will independent agencies fare this year?
A month into 2023, the picture for how this year will shape up for independent agencies is starting to come into focus. But that picture looks different from agency to agency, with some shops predicting a strong return to revenue growth after an embattled 2022, and others hoping they can even get back to growing — largely because clients are spending their marketing dollars more conservatively due to lack of clarity on economic conditions ahead.
If there’s one distinct advantage independent agencies have and will continue to enjoy, it’s agility and nimbleness, said Jay Pattisall, vp and senior agency analyst at Forrester. “I’m very bullish on independent media agencies, because of their capacity to combine elements of the marketing mix that were pulled apart for financial reasons in the 80s,” said Pattisall. “Their ability to strategically combine a precision or performance marketing approach to other elements of of the marketing mix [means] they are able to answer for clients with a level of integration that the large holding companies are slower to respond to. [It’s a] collision of precision and persuasion in a very chaotic and non-linear marketing funnel that demands an integrated approach.”