Life in an agency It's something I've been doing for over 25 years. I've been through many ups and downs, including the emergence of the internet bubble and the 2008 Great Recession. It no longer surprises me.
Having said that, the industry trends I've seen for 2022 have been extremely varied. They show how big the shockwaves were after the pandemic, which marketers have been riding since 2020, and how big the possibilities and potential are. Here's a rundown of what's happened this year:
1. Agency owners are getting more involved.
Being the owner of an agency may be exciting, particularly when you have to handle difficulties on the go. However, maintaining such a high degree of awareness for an extended period of time is not possible. You've been on high alert for the last two years. You're sick of responding now.
Everyone is sick of the unexpected. The good news is that many agency owners are getting off the emotional rollercoaster. Things are calming down and becoming more normal. Leaders are discovering a better way to strike a balance. What is the end result? More success. Your team will benefit from you getting back on your feet, recommitting to your job, and taking charge again. They're proactive, which is excellent for business.
2. Clients want agencies to assist them in demonstrating ROI
in Marketing Clients know they want to collaborate with agencies, but they must first convince their senior teams. As a result, customers are asking agencies to help them connect the links.
This is a significant opportunity for you to demonstrate your value. Agencies that can utilize data and reports to quantify ROI will be able to differentiate themselves from the competition. They will win contracts. They will be referred, and they'll meet their targets.
Of course, this demands that you be innovative, not just with the assets you develop but also with how you demonstrate the value of your organization. Technological tools are critical in affecting the thoughts of C-suite personnel.
3. The Work-from-Home Option The debate is winding down.
During the epidemic, several agencies never returned home. Some people had already tried working from home and decided not to go back to the office. But most companies were in the middle, which let the telecommuting pendulum swing freely. As a result, the hybrid work model has gained popularity.
The agencies that benefit the most from this strategy are those that preserve calendar regularity. When workers aren't there on different days of the week, it's hard to run a business. When everyone works on a defined schedule, it's much easier to cooperate and contribute to the general culture. To thrive with a hybrid model, you must know when and where your employees will be on any given day, except in emergencies.
4. Employees Make Unusual Demands
One tendency that has startled many agencies is the transfer of authority; workers are taking the wheel. They're asking for large increases, for example. Many agencies have told me that they are going to great lengths to keep their best performers from leaving.
However, increasing pay is not the main desire of workers. Flexible schedules, extra benefits, and other perks are now available. One agency owner told me about an employee who strolled in and stated that they would be moving across the nation the next week. The employee just thought that the change would have no effect.
Of course, you don't want to deal with turnover. So, for the time being, make some sacrifices. Workers seem to be gradually shifting away from an "I want it all or I'm gone" mentality, indicating labor market stability.
5. The Power of Micro-Influencers and Walled Gardens
Want to impress a client? Create a walled garden or provide a micro-influencer program.
To be clear, micro-influencers do not just earn a career through influencing professionally. A micro-influencer is a subject matter expert with a large but small social media following. This could be a doctor or professor. Make no mistake: their supporters are passionate and engaged. You may help your clients expand their reach by negotiating sponsorships and endorsements with micro-influencers.
Private member habitats are walled gardens. Private member environments might include a private Facebook group or an invite-only proprietary forum. Even though it costs money to keep a community active and running, walled gardens may be well worth the cost if they help grow new and old customers.
The marketing business is gearing itself for a successful 2023. Although agency owners are still recovering from the epidemic, they are set to do great things. Learn from the best and capitalize on these trends as the year comes to a close.