|Almost Half of Advertising Agencies Plan to Hire More Staff in 2017
By: The Drum
Almost half (43%) of agencies report that their business will increase in the first quarter of 2017, while only 11% expect a decrease, according to a fourth quarter survey of advertising agencies conducted by STRATA. With 42% of respondents anticipating the need for additional staff next year, and not a single agency reports plans to reduce staff sizes. This comes in contrast to Q2 this year, which found that the rate of hires was decreasing, and concerns over needing to reduce staff sizes were increasing rapidly.
When asked what the biggest challenges ahead were, 51% stated that their biggest concern was expanding their client roster, followed by determining the right media mix (22%). Only 13% of agencies felt that client retention was their chief concern, reflecting confidence in existing relationships.
The fourth quarter survey found video advertising remains the dominant focus, with 34% of agencies noting their clients' primary focus was local TV & cable. For the first time the survey's history, digital video claimed the second spot, with 27% of agencies responding that it was their primary focus, a 79% increase over the previous year. Display advertising, previously in the second spot, fell to third with 15% reporting it as their clients' main focus.
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This article was published by The Drum. A link to the original appears at the end of this post.
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