Digiday+ Research: Marketers said revenue grew in the last year, with more growth expected ahead
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After a tumultuous 12 months, marketers are getting a clear picture of how they really did during a time of true uncertainty. And, as it turns out, it wasn’t all that bad.
This is according to a Digiday+ Research survey of just under 100 agency, brand and retailer professionals.
Digiday’s survey found an overall sense of optimism among agency pros over the last year, despite all of the uncertainty within the industry (and well beyond). Fifty-nine percent of agency pros said their companies’ overall revenue increased somewhat or significantly in the last 12 months.
It’s a similar story for brand and retail marketers, if not even a bit better. Sixty-two percent of brand and retailer pros said their overall revenue increased at least somewhat in the last 12 months.
And these reported increases in revenue were reflected in staffing at agencies, as well as at brands and retailers. Eighty-five percent of agency pros told Digiday that their companies invested at least a small amount in overall staffing over the last 12 months. And 77% of brand and retailer pros said the same.
It is worth noting that looking into the data a bit further shows that even this optimism didn’t go untouched by the economic climate of the last year, though. Forty-eight percent of agencies said their revenue increased only somewhat in the last 12 months, compared with just 11% who said it increased significantly. Meanwhile, 43% of brand and retailer pros said their revenue increased somewhat, with a much lower 18% saying it increased significantly.
And while agencies, brands and retailers did invest in staffing over the last year, most kept their investments on the lower end. Thirty-eight percent of agency pros told Digiday that their companies invested a medium amount in overall staffing in the last 12 months and 25% said they invested a small amount, compared with 23% who said they invested a large amount. And 39% of brand and retailer pros said they invested a medium amount in staffing, 18% said they invested a small amount and 21% said they invested a large amount.
While agencies, brands and retailers turned out to be fairly aligned on their optimism toward the last 12 months, Digiday’s survey found the story to be different for the next 12.
There is optimism for both groups when it comes to revenue expectations for the coming year, but to different degrees. More than two-thirds of agency pros (69%) said they expect overall revenue to increase the most in the next 12 months. Exactly half of brand and retailer pros said the same.
But fewer agency pros expect their companies to invest in staffing in the coming year. Forty-four percent of agencies said they expect their companies to invest the most in overall staffing in the next 12 months. And brands and retailers are significantly less optimistic about staffing. Slightly more than a quarter of brand and retailer pros (27%) told Digiday they expect their companies to invest the most in staffing in the next 12 months.
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