Strata Finds Ad Agencies Expect Business To Grow This Quarter
September 25, 2014 at 3:58 AM (PT)
In a blog on the company website, STRATA Pres. JOY BAER writes, "Ad agencies responded very positively when asked about the health of their businesses in the most recent STRATA Agency Survey. The second quarter survey found that 62% of agencies see their business increasing this quarter compared to the same time last year, which is tied for the highest level in the history of the survey and represents a 37% increase over the end of 2014. The survey also saw the third lowest level of agencies that say their businesses were shrinking in 23 quarters."
The positive vibes continue, as she notes, "In addition to a strong first half of 2014, agencies are optimistic about the second half of the year, which will be bolstered by the holiday advertising season and political ads for Congressional elections in NOVEMBER. Over half (51%) of agencies expect their future for the remainder of 2014 to be better than the first half of the year."
What's driving this good news? BAER points to"
- A key component of this growth, comes from the clients. Thirty-four percent say their customers are increasing their budgets from last year, which is a big jump of 43% over a year ago, and half are keeping their budgets the same as last year.
- The growth and optimism is also supporting personnel expansion, as 34% of agencies plan to hire staff in the remainder of the year, which is 44% higher from a year ago.