An economic slump and rising inflation in 2022 led to a high client turnover rate and the inability of agencies to demonstrate return on investment.
The negative impacts of the COVID-19 pandemic remain visible in some areas of the marketing landscape. Some agencies were even forced to shut down due to extreme loss of customers and revenue.
This crisis does not only affects business owners’ resilience and commitment to their passion but also changes their perception of how much they should innovate marketing now.
However, others still pushed through. With an average revenue growth of 33%, 89% of agencies said that they reached or surpassed their goals despite these challenges. Now, marketing agencies are optimistic about 2023 more than ever.
2022 saw an economic downturn and high inflation, resulting in high client turnover and the inability to prove ROI for agencies.
However, these obstacles didn’t hinder their growth; 89% of agencies said they met or exceeded their goals, with an average revenue growth of 33%.
With this year’s success, marketing agencies are optimistic about 2023 and have shared their insights in an infographic commissioned by CallRail.
You can download the highlights of the report here
Check the Full infographics below: