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2023RSW/US
AgencyNew
BusinessReportPerspective
On
TheAgencyNewBusinessEnvironment,2023
and
BeyondASurveyOfAgenciesConductedByRSW/US
Agency
New
Business
Virtual
ConferenceNew
Year
Outlook:
2024February
5th-9th,
202412pm-1:30pmESTeachdayRegistration
Coming
Soon!New
Year
Outlook:
2024We’reexcitedtoannounceour2024AgencyNewBusinessVirtualConference,from2/5-2/9,2024.ItwillbeanothergreateventfilledwithMarketer,Agency,andRSW/USperspectivesonthewaystohelpyouwinmorein2024!Eachday’sagendawillincludeashortpresentationfollowedbyapanelfeaturingseniorlevelmarketers,agencyprincipals,andourownexpertnewbusinessdirectors.Wehopetoseeyouandyourteamthere!Table
ofContentsContents3Table
ofContents4Introduction6DifficultyofObtainingNewBusinessSuccessAndTenure
OfNewBusinessDirectorsSatisfactionWithNewBusinessProgramDollarVolumes
OfNewBusinessin2023MostEffectiveTools
AtGeneratingNewBusinessImpactOfTheEconomy111518192122
Average
TimeBetweenFirstMeetingTo
Close24
TheImpactofAIandAITools26
Conclusion3IntroductionAbout
UsThisstudywascommissionedbyRSW/US.RSW/USisanoutsourcedleadgeneration/businessdevelopmentfirmthatexclusivelyservicesmarketingservicefirms(ofallsizesandtypes).RSW/USworkswithover50agenciesacrosstheU.S.,operatingastheiroutsourcedsalesandmarketingteam.RSWwasfoundedin2005.In2010,RSWstartedRSW/AgencySearch.To-date,RSW/AgencySearchhasmanagedover40searchesformarketersacrossarangeofdifferentcategories,helpingthemfindbetteragencies.TheRSW/AgencySearchmodelisuniquetotheindustry.TheexposuretotheagencyandthemarketerworldhasarmedRSW/USwithperspectiveunmatchedintheindustry.Thisperspectiveiswoventhroughoutthis,andeverysurveyreport.TolearnmoreaboutRSW/US,visit.TolearnmoreaboutRSW/AgencySearch,visit.4Introduction,cont’dAbout
the
ReportThisistheRSW/US2023AgencyNewBusinessReport:PerspectiveOnTheAgencyNewBusinessEnvironment,2023andBeyond.We’vefieldeditsince2010andpresentcomparabledatathatisavailableacrossallpreviouseditions,providinginsightontrendsinkeyareasoverthepasttenyears.Thisreportistypicallyheavilydownloadedbecausetheanswerscomefromoursurveyofyouragencypeers.Thisyear’ssurveyandtheresultingRSW/US2023AgencyNewBusinessReportseeadagencies,marketingservicesfirms,andPRfirmscontinuingtostrugglewithobtainingnewbusiness,however,2023hasalsobroughtchallengesintheformofslowingreferrals,decreasedbudgets,andlongersalescycles.Over3,000Agencyexecutivesnationwidehadtheopportunitytoparticipate,andinfieldingthesurvey,wewantedtodiscernhowthechallengesanddynamicsofagencynewbusinesseffortshaveevolvedaswefinish2023andheadinto2024.Ourhopeisthekeyfindingsandimplicationsofthestudypresentedinthisreportprovidevaluetoyouasyoudevelopyourplansfortheremainderof2023andinto2024.Ifyouwouldliketoreproduceanyofourfindingsinanyformatwhatsoever,pleasecontacteitherMarkSneiderorLeeMcKnightJr.:Mark
Sneider513-559-3101mark@Lee
McKnight
Jr.513-559-3111lee@5DifficultyofObtainingNewBusinessWe
Asked
Agencies:
How
Difficult
Is
Obtaining
New
Business,Compared
to
Last
Year?Thisyear(2023)58%ofagenciesreportobtainingnewbusinessAlot
harder
(21%)hasbeenharder,oralotharder,comparedtothepreviousyear.Asseeninourgraph,that’screepingcloserto2020levelsat67%,whenwefacedlockdowns,budgetfreezes,andoverallextremeuncertainty.Easier
(7%)Harder
(37%)58%Sincethen,we’veseenasteadyuptickfrom28%in‘21to43%in‘22.Found
obtainingnew
businessmore
difficultin
2023The
same
(35%)“Harder/Much
Harder”
Responses
Over
Time67%58%51%48%43%43%28%35%31%2008
2012
2014
2016
2019
2020
2021
2022
20236DifficultyofObtainingNewBusiness,cont’dImplicationsSowithonly7%ofagenciessayingit’sbeeneasieroraloteasiertoobtainnewbusinessin2023,versus17%in2022(and38%in‘21),what’sbehindtheescalatingtrend?Theanswerstoourfollowupquestionshedsomelight:“Relativetolastyear,haveyouseenthenumberofopportunitiesfornewbusinessdecrease,increase,orremainthesame?”.38%ofagenciessaidthenumberofopportunitiesfornewbusinessdecreasedthisyear,versus26%lastyear.38%reported
a
decreasein
new
businessoppertunitiesFroma4/23AdAgearticle,TheAgencyReviewLogjamHasBroken—HowExpertsSeeTheRestOf2023,“mostcreativeagenciesreportedasluggishnessinoverallnewbusinessopportunities.”7DifficultyofObtainingNewBusiness,cont’dAndinanAxiospiecedated8/23,Signs
Of
Optimism
Shine
Through
The
Bleak
Ad
Market,BrianWieser,atopadvertisinganalyst,argues:“much
of
the
sentiment
around
the
ad
marketslowdown
failed
to
consider
that
the
double-digit
growth
levels
the
industry
saw
during2021
and
early
2022
were
not
sustainable.
Youwere
always
going
to
see
some
deceleration.”Coldcomfortperhaps,butatleastbeginstoexplainhowandwhyagenciesgothere.Wedugdeeperwithaquestionwe’veaskedyearoveryear:“WhyIsItHarderToObtainNewBusiness?”.https://youtu.be/CoEQo8M3s-c?si=KM9Wio1LqRE77baKDifficultyofObtainingNewBusiness,cont’dWe
Asked
Agencies:
Why
Is
It
Harder
To
Obtain
New
Business?Inprevioussurveys,agencieshaveunilaterallygiven“breakingthroughtoprospects”asthemainreasonwhyit’shardertoobtainnewbusiness.
Thisyear,forthefirsttimeever,itcomesinthird.Fewer
opportunitiesOther5%
11%2023202261%47%37%
15%
13%11%55%39%26%31%25%18%4%55%23%59%14%5%36%202132%Youcanseethebreakdownoverthelast3yearsinthegraphsaboveandonthenextpage,andhere’sthetop3in2023:•••Feweropportunitiesoutthere61%Prospectbudgetstoosmall55%Hardertobreakthroughtoprospects47%9DifficultyofObtainingNewBusiness,cont’d71%66%63%61%48%59%23%57%53%55%39%59%42%54%46%45%46%42%2010
2012
2014
2016
2018
2020
2021
2022
2023“Feweropportunitiesoutthere”,at61%isquiteajumpfrom39%lastyear,and“prospectbudgetstoosmall”at55%isanewaddtothequestionthisyear.Oneotherstatofnote:thepercentageofagencieswhosaytheyhavenoprocessinplacedroppedfrom25%lastyearto13%thisyear.Withinthisquestionwasan“other”option,withtheopportunitytoprovideopen-endedresponses.Giventhevarietyofresponses,wewantedtogiveyouasamplefromyouragencypeersastowhyitwasharderforthemtoobtainnewbusiness:•••••••Referralsarewaydown.Wearepickieraboutnewclients.Lessinboundaswell.Economicconcerns.Morecompetitionfrombiggeragencies“playingdown.”Salescycletakingmuchlongertoclosebusiness.Marketdownturn.Notsuccessfullyclosingthesales.10SuccessAndTenure
OfNewBusinessDirectorsWe
Asked
Agencies:
Have
you
hired
a
full-time
new
business
hunter/director/manager
(as
part
of
your
staff)
to
prospect
for
leads
for
youragency
in
the
past
three
years?Oneofthekeystodrivingnewbusinessisofcoursetheindividual,orindividuals,leadingthecharge.
Hiringanewbusinessdirectorisonewaytogo,andthisisaquestionweaskyearlyofagencies.Inthelasttwoyearsofoursurvey(‘21&‘22),hiringforthenewbusinessdirectorpositionatanagencyfelltoitslowestlevelsincewestartedthissurveyin2010,withjust32%ofagencieshiringanewbusinessdirectorinthepast3years.We’reseeingthattrendreversein2023,althoughnotbymuch,with36%ofagencieshiringaninternalnewbusinessdirector.Toaddafurtherlayertothediscussionwealsoaskedagencies,“Howdifficultoreasyhasitbeenforyoutohirequalityemployeesforyouragency/firm?”51%ofagenciessaiditwasverytosomewhatdifficultand39%saidneithereasyordifficult.46%42%40%39%36%32%32%2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
202311SuccessAndTenure
OfNewBusinessDirectors,Cont’dImplicationsAninterestingstatfromaJuly,2023pieceineMarketer,Us
Ad
Agency
Employment
MarksAn
All-Time
High,“Junesawasignificantboostinemploymentacrossadvertising,publicrelations,andrelatedservices,risingby2,200jobs,pernewBureauofLaborStatisticsdatacitedinAdAge.Withthisuptick,employmentinthesesectorshasreacheditshighestsince2001.”However,inregardtothebusinessdevelopmentpositionspecifically,it’sanongoingsagaagencyownersmustcontendwith:85%ofAgencyNewBusinessDirectorslastlessthan2years.Ofcourse,thelastthreeyearshavehadtheirfairshareofuniquestrugglescomingoutofthepandemicwithanuncertaineconomyandhiringdifficulties.Beyondthesestruggles—andthosestrugglesarecertainlyreal—agenciesoftenjustdon’tknowwhattolookforwhentryingtohireforthe
developmentposition.Theprocessisnoteasy,butweseesomekeymistakesupfrontinthehiringprocess:1They
hire
a
person’s
network.Ifthiscandidate’smainmethodofprospectinghasbeennetworkingevents,localhappyhours,etc.,youneedtodigdeeperandaskquestionsaroundtheirinsidesalesexperience.2They
hire
green.
AtRSW,wehirenewbusinessdirectorsthathave10-15yearsofsalesandmarketingexperience.
Itmakestheprocesslongerandtougher,butit’stheexpectationweset.Agencieswillhiregreenandthenthinktheycantrainup.34They
don’t
dig
deep
enough
ontheindividual’splannedprocess.Alwaysaskforatop-lineversionoftheprocessandplanyournewbusinessdirectorwillcarryout.Define
the
new
business
position
clearly
up
front.Isthispersonresponsibleforallfacetsofnewbusiness,fromtopofthefunnelallthewaythroughtopitchingandRFPresponses?Isthatpersonpurchasingprospectinglists,orexpectedtobuildthoseout?12SuccessAndTenure
OfNewBusinessDirectors,Cont’dWe
Asked
Agencies:
How
successful
would
you
say
your
last
newbusiness
hire
was/is?Inregardstohowsuccessful,44%ofagenciesreporttheirlastnewbusinesshirewasunsuccessful.Andaprecipitousdropcontinuesinagenciesreportinghowlongtheirmostrecentnewbusinesshirewasemployedattheagency:Thisyear,23%reported1-2years.
In2022itwas34%,andin2021itwas52%.Sowe’reseeingadownwardtrendherearoundnewbusinesshiresin2023.How
long
has/was
your
mostrecent
New
Business
Directoremployed
at
your
f
irm?52%of
New
BusinessDirectors4
4%of
agencies
reporttheir
last
newbusiness
hire
wasunsuccessful.are
employedless
than
twoyears.13SuccessAndTenure
OfNewBusinessDirectors,Cont’dImplicationsSolidnewbusinessdirectorsarenotunicorns,theydoexist,buttheyarestillsomewhatrare.Theworstthingyoucandoasanagencyownerissettleormakearusheddecision.
Ifyourgoalistohireforthepositioninternally,itwilltaketime.
Andsoyouneedtohaveaplaninplacetogarnernewbusiness.
Makeitsimpleandmakeitmanageable.
Amanageableeffortwillputyouaheadof75%ofyourcompetition.There
are
4
areas
your
newbusiness
plan
should
cover:1Organic
growth—AsDrewMcLellanatAMIposits:65-70%ofyournetnewrevenueshouldcomefromexistingclients.
Lookingatyou,AEs!23ofnewbusinessforagenciesReferrals—Aswe’llsee,they’rethenumberonedriverInbound/content—There’snoexcuseforyourfirmnottohaveamanageablecontentengine.Thatcouldbe2-3postsaweekonLinkedIn,forexample.Andremember,ChatGPTisyourfriend.(Moreonthatlater).4Outbound—Thehardestofthefour,butdonecorrectly/well,isasviableasanyofthefour.Finally,theremustberealisticexpectationsaroundthewholeprocess,andespeciallyaroundclosingbusiness-14SatisfactionWithNewBusinessProgramWe
Asked
Agencies:
Are
you
satisfied
with
the
success
of
your
newbusiness
plan/program?We’veaskedthisquestionofteninoursurvey,andtraditionallyitsfairlyclosetoanevensplitacrossyesorno.Thisyearthat’schanged,with56%reportingnoand44%reportingyes.OurRSWagencyclientsarepredominantlysmallandmid-sizedagencies(aswerepredominantlythetakersofthissurvey),andasthestatshavereflectedsofarinourreport,it’sincrediblyhardtofindanindividualtodrivenewbusiness.
Whichmeansthatprocess,ifthereisone,fallstoapartner,principal,orowner.%
of
agencies
who
said
yes
YOYFor
small
and
mid-sized
firms,
thereoften
is
no
plan
for52%-2021new
business.Visit
our
ebook
pagefor
ways
to
makeyour
list
building,thought
leadership,website,
and
casestudies
strongerand
more
effective,with
specificand
actionableinstructionson
each./ebooks/15SatisfactionWithNewBusinessProgram,cont’dOnenewadditionthisyearwastheopportunitytoprovideopen-endedresponsesastowhya“no”answerwasgiven.Herearesomeofthoseresponsesfromyouragencypeers:•••Notgettinginfrontofenoughqualifiedleads.Feelswaymorereactivethanproactive.Wearebetterdoingleadgenforourclientsthanweareforourselves.•Continuetofinditdifficulttofindanystrategyorcontentthatisgettingthroughinourcurrentenvironment.•••It’sjustnotbringinginsignedcontracts.Wearechasingtoomanyofthewrongopportunities.Needmoreleads,needtogetbetteratprospectingathuntingforleads,needtofindlargeropportunitieswithbiggerbrands/budgets.••Itwashistoricallybasedonreferralswhichhavemostlydriedupandwe’vestruggledtocreateanoutboundprogramduetolackofexperienceandtime.WeusedCOVIDtofocusonourtargetverticalsandwhilethat’sagoodidea,it’stakingawhiletogettraction.Also,ourtwobiggestclients(30%ofannualrevenue)leftusattheendof2022andwe’venotrecoveredthatrevenueasyet.••It’smerunningitandbudgetshaveshrunk.Ouragencyisn’tcurrentlystructuredforclientstoonly“orderoffthedollarmenu”.Weneedtofindawaytomakemarginswithextremelysmallinvoicesrelatedtosocial/digital.••••Welostfocusontarget.Notconnectingwiththerightpeopleordecisionmakers.Iwouldn’tsaywehavemuchofone.Prospectstakingalongtimetoconvertorpausingtheirdecisions.•Itisdifficulttomotivateemployeestodoconsistentfollowupwithprospects.••Smalleropportunities,lowerwinrate.Thereisnoplanhere.Principalsaretoobusywithoverwhelmingexistingworkandmaynotfullyunderstandthevalueofconstantnewbizefforts.16SatisfactionWithNewBusinessProgram,cont’dImplicationsManyofthereasonsbehindincreasedagencydissatisfactionwiththeirnewbusinesseffortscanbeattributedtotheagenciesthemselves,andthey’veadmittedasmuchintheseopenresponses.Ifthereisnorealplancreatedoractedupon,thenyes,youwillbedissatisfied.However,otherfactorsaremuchhardertocontrol,likeshrinkingreferrals,diminishedbudgets,andtheextendedlengthoftimeit’stakingtocloseopportunities.Threewayswe’veseenagencies,includingourownclients,combattheseare:1Asmentionedpreviously,ensuringorganicgrowthisapriority.23Makingnewbusinessanagency-wideendeavor,ensuringeveryemployeeknowstheyhaveahandindrivingit.Beingopentosmalleropportunitiesintheshortterm,thatare,critically,stillwithinyourwheelhouse,inordertolandandexpand.“It
was
historically
based
onreferrals
which
have
mostly
driedup
and
we’ve
struggled
to
createan
outbound
program
due
to
lackof
experience
and
time.”-
Open
ended
response
from
agency
owner17DollarVolumes
OfNewBusinessin2023We
Asked
Agencies:
Relative
to
last
year,
have
you
seen
the
dollarvolume
of
new
business
opportunities
increase,
decrease,
or
remainthe
same?Perthegraph,41%saiddecrease,31%saidremainedthesame,and27%reportedanincrease.Forreference,lastyear37%ofagenciesreportedanincrease.Implications72%With70%ofagenciessayingtheoverallnumberofnewbusinessopportunitiesof
new
businessopportunities
arethe
same
or
lowerdollar
amount.stayedthesameordecreased(perpg.6),and72%ofagenciessayingnewbusinessdollarvolumestayedthesameordecreased,it’smoreimportantthaneverthatagenciesensurethey’regoingaftertherightprospects.
Peroneoftheopen-endedresponsesfromanagencyabove,“wearechasingtoomanyofthewrongopportunities”.Leadinginto2024,nowisthetimetolookatyourcurrentclientbase:123orinatimelymanner?Areyouholdingontoclientswhodon’tpayyouenough,Areyoutargetingright-sizeprospects,intermsofrevenue?Andlastly,areyouchargingenough?Thesecanallbetoughquestionstoanswer,andtoughtoactuponaswellinthecurrentclimate,butyouhavetostartsomewhere,andthefirstplaceisthecurrentprospectsyou’repursuing.18MostEffectiveTools
AtGeneratingNewBusinessInveryunsurprisingnews,continuingthetrendsfrom2021and2022,newbusinessto-datein2023hascomefromreferralsandexistingclients.Bothofthesesourcesshouldbepartofyourbusinessdevelopmentprogram,butmorethaninpreviousyears,we’reseeingagenciesreporttheseaslessreliablein2023.7%14%PaidsearchEmails8%6%18%15%20%6%20%7%13%18%16%16%Organicsearch19%12%28%46%21%19%1%43%37%37%Networking50%64%71%64%69%53%60%60%Referrals202020232022202119MostEffectiveTools
AtGeneratingNewBusinessImplicationsReferralscameinasthenumberonenewbusinessgeneratorat69%,withBusinessfromexistingclientsat50%,andNetworkingat46%.
Forreference,in2022,Referralscomeinat64%,Businessfromexistingclientsat59%,andNetworkingat46%.Sotheactualpercentageonreferralsishigherthisyearby5points,whichisinteresting,givenwhatagencieshavealreadyreportedmorethanonce,someversionofreferralsstartingtodryupin2023versuspastyears.Andasfarasexistingbusiness,quoteslikethefollowingfromapreviousquestionshouldraisesomeconcern:“Itisdifficulttomotivateemployeestodoconsistentfollowupwithprospects.”Quoteslikethese,tobefair,arenotwidespread,butifyoufindyourselfinthissituation,itneedstobeaddressed,andtreatingnewbusinessasagency-wideisthefirststep.Whenitcomestotools,focusisall-important.
Yourfirmdoesn’tneedallthetools,andespeciallyforsmallandmid-sizedfirms,there’snotenoughtimetousethemall.
Typicallyyouhaveagreatmajorityofthecoretoolsalreadyinplace:phone,email,social,forexample.
Beyondthat,anemaildeliverytool,someformoftrackingforthoseemails(andideallyonyoursite)andthenpotentiallyaCRM,whichyouultimatelywillneedforanyseriousbusinessdevelopmenteffort.
ToolslikeChatGPT,whichwe’lldiscusslaterinthisreport,shouldcertainlybeonyourradar,foryouragencyandyourclients,andcouldbeveryhelpfultoyouroveralleffort.Andasasidenote,themajorityofnumbersinthisquestionstayedrelativelythesamecomparedtolastyear’sreportwithoneexception:conferencesasatooltodrivenewbusinesscameinat15%in2022,versusthisyearat28%-quiteajump!
Anecdotally,wecanconveyconversationswithagencies,clientandnon-client,whoreportfindingconferencescomingbackpost-covidinameaningfulway.Thekeyiszeroinginonatightgroup,andhavingaplaninplacepre-conference,andmostimportantly,post-conferenceforprospecting.20ImpactOfTheEconomyWe
Asked
Agencies:
How
has
the
economyaffected
your
business?45%ofagenciessaidbusinessisdownsomewhattosignificantly,and28%saidthebusinessisunchangedtothispoint.Therealityof2023fromabusinessdevelopmentstandpointformanyagencies,especiallythosetryingtohandlenewbusinessinternally:prospectshavebeenhardertobreakthroughtoandslowertorespond,andaredraggingtheirfeetonceit’stimetostartthework.
Ontopofthat,it’sbeentoughertofillthepipeline.How
has
the
economy
affectedyour
business?45%of
agencies
reportbusiness
being
downdue
to
theeconomy.Whileyoucanattributethistothecurrentstateoftheeconomy,anothercontributingfactorinequalmeasureisthelackofanongoingbusinessdevelopmentengine.Thatenginewillnotsolvethetimeittakestostartthework,tobefair,butitwillensureyouhaveaplanandstructureinplacetoconsistentlystayinfrontofyourprospectsinameaningfulway.Andpotentiallygoodnews,theeconomyisshowingsomesignsofbecominghealthier,butnotoverheated,intermsofemploymentandinflation.
Wecanonlywaitthatout,butagencieshavebeenherebeforeandhaveseenthecyclicalsideofthisindustry.21Average
TimeBetweenFirstMeetingTo
CloseWe
Asked
Agencies:
How
long
does
it
take
(on
average)
to
move
f
roma
1st
meeting
to
closing
a
piece
of
business?Nowinourfourthyearofaskingthisquestion,it’sacriticaltouchstoneinsettingexpectationsforyourselfandyouragency’snewbusinessprogram.75%ofagenciestellustheaveragetimeittakestomovefromafirstmeetingtocloseto-datein2023is1-6months.That’sdown10pointsfromlastyear.
And“morethan6months”hasrisenfrom5%to18%.ImplicationsToprovidefullperspective,yearoveryearnumberslooklikethis:Less
than
a
monthA
month
to
six
monthsMore
than
six
months20237%75%85%18%2022
11%5%7%87%73%6%8%2021202019%22Average
TimeBetweenFirstMeetingTo
CloseSoatfirstglance,1-6monthsdroppedfrom85%to75%,whichlookslikeanimprovement,buttheothertimeframesshowitgettingharderforagencies.“Lessthanamonth”droppedfrom11%to7%and“Morethan6monthsrosefrom5%to18%”.Dovetailingfromthepreviousquestion,theprocessfromfirstmeetingtoclose,andclosingbusinessoverall,issimplytakinglongerforalotofthefirmsoutthere.Apartfromconsideringyourlong-termfinancials,inregardtoplanning,we’velaidoutwhatagenciesshouldbedoingfromabusinessdevelopmentstandpoint.Butoneaspectwehaven’ttouchedonareexpectations.Howeveryou’rehandlingbusinessdevelopment,youmustrecognizethatit’saprocess.That’snothingnew,butnowit’stakinglongertogetthere,anditwillpass,butitmeansyouneedtobepreparedforitandnotbeswayedbyyourownconceptionsofhowlongitshouldbetaking,orbythecountlesssalesemailsyougetpromising/guaranteeinglotsofprospectmeetingsperweekwithquickclosesrightbehindthosemeetings.Thoseguaranteescan’tbelegitimatelymadebecauseyoucan’tforceaprospecttogiveyouworkifit’snotthere.Whichiswhyacadenceof8-12touchesover3-6monthsissocritical,asisfollowup.Agenciestendgiveupwhentheprocessgoesbeyond2-3touchesortakesmoretimethantheyhadallottedintheirhead.https://youtu.be/kKFxga4KgLs?si=8LIPxXmwKyA0D_bu23TheImpactofAIandAIToolsWe
Asked
Agencies:
Are
you
incorporating
ChatGPT
and
other
AItools
into
your
business
development
efforts?Inaseriesofnewquestions,wewantedtoexplorewhatimpactAIhashadonbusinessdevelopmentandonclientwork.Wefirstasked,“AreyouincorporatingChatGPTandotherAItoolsintoyourbusinessdevelopmentefforts?”Perthegraphbelow,62%arenotand38%are,so,verymuchintheexploratoryphasesofarin2023.Interestingly,inourfollowupquestion,“AreyouincorporatingChatGPTandotherAItoolsintoyourtoolsetforclientwork?”,70%saidyes,and30%saidno.(Asanaside,aMay2023piecefromPewpointedout,only14%ofUSadultshavetriedChatGPT!)Are
you
incorporating
ChatGPT
and
other
AI
tools
into...your
new
business
efforts?your
toolset
for
client
work?38%of
agencies
areusing
AI
tools
fornew
businessdevelopment.70%of
agencies
areusing
AI
tools
forclient
projects.24TheImpactofAIandAIToolsImplicationsGoodtoseeagenciesexploringthesetools.
Whileit’sstillearlydaysinmanyrespects,clientslooktoyourfirmtobemorethanordertakers.However,stayingontopoftrendsiscritical,butcertainlyitcantiptheotherwayandgetinto“chasingshinyobject”territory.Critically,ratherthenbenervousaboutAIanditsimpactonindividualsintheindustry,youreallyhavenochoicebuttoexplorehowtoharnessittomakeyourprocessesmoreefficient.Toprovidesome
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