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One-third of brands considering switching agencies within six months: survey

One-third of brands considering switching agencies within six months: survey
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Perhaps contributing to the instability of some relations between the agency and the brand is the lack of transparency and communication; Both parties agree that clarity with each other is critical, according to the survey, which found that 65% of brand-side and 56% of agency-side marketers want better communication in their professional relationships.

The Setup report also found that identifying error and measuring expectations can be a tell-it-say, with 13% of brands saying they’d like to see “more value” from their agencies for less money, while 12% of agencies say brand requests. Businesses often exceed established budgets.

“It’s essential to form real partnerships with clients,” says David Mullen, president of award-winning small agency The Variable. This means building a strong foundation based on mutual understanding, goodwill and open lines of communication. Our agency remains successful because we prioritize transparency to ensure that expectations are exceeded and great results are achieved for our clients.”

Mutual chemistry is the basis for any strong agency-client deal, according to a Setup survey, with 90% of agencies and 92% of brands rated it as the most important factor in building a creative relationship. Chemistry has overtaken other high-level considerations including industry understanding, professionalism, and overall creativity to take center stage — significantly as of 2020, when the Marketing Relationship Survey found chemistry to be the fourth most important overall.

Secondary considerations such as agency size, location, and staff seniority were reported as among the least important factors by survey participants.

The setup report also found that brand marketers plan to increase their ad spend by at least 50% across five categories: content marketing, video, digital media, websites, user experiences, influencers, and social media. The survey notes the digital advertising boom that has seen amid the COVID-19 pandemic and suggests that creative stores emphasizing their digital capabilities may have a role in the post-virus recovery.

“Agencies that specialize or provide digital services are poised to be in a higher position to survive and thrive after COVID than those who do not operate in the digital space,” the report read.

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