1. Digital agencies grow billings by 20%
The top 100 digital agencies have grown billings by 20% year on year to £2.8bn for the year ending August 2017, according to a report by Marketing Week’s sister company Econsultancy.
However, most of that growth has come from the biggest agencies. Over a five-year period, the average net fee income of the top 10 agencies has grown by 168% to £159.6m, while for the rest of the top 100 that growth is just 38%.
Accenture Interactive topped the rankings for the second consecutive year, recording a fee income of £351.4m for the year ending August 2017. It was followed by IBM iX, Atos Digital Services, Cognizant Interactive and Wunderman UK Group,
2. Three-quarters of consumers don’t want to be tied into long-term relationships
Three-quarters (73%) of consumers avoid services that tie them into long-term contracts. Among subscription users, 54% say they opt for the most flexible options even if it costs more.
Flexible subscriptions tend to appeal to those on higher incomes, parents and millennials, with 77% of parents and 83% of those with household incomes over £75,000 saying they use at least one subscription service.
Some 59% of millennials agree subscription-based products or services offer value for money.
3. Marketing salaries reach record high
Salaries for marketing roles across the UK climbed by 33.2% year on year in September, increasing from £32,710 to £43,560, marking a record high.
Growth in salaries in the marketing sector has outpaced the national average of 6.6%, making it top of the list and outranking nine other industries regarding pay growth.
The charity sector second came in second with an average salary of £31,540 (up 33.2%),followed by legal, which was up 10% to £33,280.
4. Retailers warned not to overdo social and smartphone marketing campaigns
Retailers that focus their marketing budgets on social media and smartphone campaigns might be on the wrong track, with just 9% of UK shoppers saying social media forms part of their purchase journey.
Additionally, 54% still use a home computer or laptop when they carry out online research or look for inspiration before making a purchase, compared to 38% who use a smartphone.
Categories where social media has the most influence on shoppers are bathroom (15%) and beauty (11%), compared to just 6% for DIY and garden and 7% for fashion and apparel.
5. Knowledgeable sales reps are still essential for B2B buyers
Knowledgeable sales reps are still essential, with 38% of B2B buyers saying they prefer to interact directly with sales reps rather than doing their own research, while 32% prefer a combination of research and conversations.
More than half of respondents (54%) say they prefer calling and emailing. Another 56% would rather sales reps answers to their questions before purchasing and 40% say they prefer onsite visits.
C-level executives (60%) and vice-presidents (82%) say not understanding sales content slows down their purchase decisions.