According to agency executives and pitch consultants, marketers overall appear cautious, cutting budgets and focusing more on project work than official agency pitches. Meanwhile, agency executives and pitch consultants say agencies are struggling to work on smaller businesses and projects they don’t typically do on sunny days. Some shops take advantage of a more experienced or well-known creative to sit on a pitch or pitch, usually with more junior his creatives or executives at the reins.
Greg Paull, co-founder and principal of search consultancy R3, said: “There’s a bunch of his CMOs who are very nervous and are probably trying to push things back into the second half of the year to make the shift. We’re also seeing more project-based pitches than large global pitches. ”
Lisa Colantuono, president of search consultancy AAR Partners, echoed that sentiment, saying that clients dealing not only with a potential recession but also with ongoing supply chain and talent A continuation” is being seen, adding that some clients are lowering their budgets. .
When asked about the impact of the current economic climate on agency clients, Celeste Bell, executive vice president and head of human resources at Deutsch NY, said, “Like we look at our budgets, clients We’re looking at their budgets,” he said. Bell said Deutsch is still hiring and she is not making any layoffs as clients are moving forward with their planned work. Still, agencies are “trying to know what clients know when they know,” Bell said.
Agencies tightening their belts is making some job seekers uneasy. “People are nervous,” said ad recruiter Christy Cordes. “Ad agency CFOs allow hiring but are bearish on capping salaries. There is little latitude in approving an increase in the budget to ensure adoption of the This is not a good sign, especially given the still tight talent market.”
Not all agencies feel the pinch the same way. Shops with specialties such as Web3, influencer marketing, and even sustainability will find it easier to storm than traditional shops, as clients increasingly demand the efficiencies associated with working with specific niche agencies. Some say they can get through it.
3 Questions for Megan Jones, VP of Marketing for January Digital Marketing Agency and Consultancy
What are January Digital’s top priorities as Q4 approaches?
Our current focus continues to be growth. we are growing fast. We have more than doubled her size since the pandemic began. For us, it’s about maintaining a really solid product while continuing to grow, and it’s also about staying true to who we want to be and the culture we want to build. . As you progress in your studies with others, something changes.
What does your company culture look like when your team is in growth mode?
One of the things we’ve really been working on is starting an intern program. If you want to intern with us, you can join as a senior coordinator, an entry level position. But we are also committed to our values in everything we do. A good example is the need for a centralized location for learning and development, especially if you are in a remote location. It should be easily accessible and searchable. Then you get some very good soft skills training. It’s not just about learning what’s taxable. If you can teach someone soft skills, you can bring them into the culture early on.
What are your biggest challenges and lessons learned in that regard?
The biggest challenge is rapid growth combined with this new environment. It was a challenge, but we kept that growth very diverse and inclusive, and were very focused on incorporating different perspectives and backgrounds. the most difficult to do. What we’ve learned is that during change, people only create the minutiae. Even if we feel we are transparent, we sometimes receive feedback that we are not transparent enough. What we’ve learned is that we need to spell it out for people. — kimeko mccoy
see in numbers
TikTok isn’t the only thing keeping shoppers glued to their mobile screens. At least one in three U.S. consumers prefers his mobile shopping app over all other channels, according to new research from software services firm Newstore. Find the research breakdown below.
- 71% Percentage of consumers who are ‘very interested’ or ‘interested’ in mini-apps (i.e. apps that don’t require a download) according to research
- 60% Percentage of surveyed consumers who reported preferring mobile shopping apps over mobile websites due to the improved user experience
- 45% Percentage of consumers who won’t download a brand’s app if they are concerned about security or privacy, according to research — Kimeko McCoy
Quote of the week
“Advertisers are concerned about the ROI they are currently experiencing from walled garden platforms (Snapchat, Twitter, Facebook, Google, etc.). We are looking for more cost-effective sources of digital advertising that are transparent and open in measurement.”
— Mark Walker, CEO of ad tech group Direct Digital Holdings, talks about clients reassessing ad spend and efficiency in the recession.