B2B COMPANIES DISSATISFIED WITH AGENCY PERFORMANCE, RESEARCH SHOWS
Research reveals dissatisfaction with PR and marketing agency performance as B2B organisations plan their post-Covid-19 and Brexit recovery. The research finds that only 11% of B2B organisations are satisfied with their existing agencies, while 40% of marketing managers admit they find it difficult to measure agency contribution to the overall business.
The research by B2B marketing communications consultancy IBA International the confidence of B2B organisations in their marketing and communications agency structures at a time when the majority plan to change their product and geographical road maps post-COVID-19 and Brexit. The study analysed responses from over 1,000 B2B marketers with an average spend of between £5k and £20k a month covering the UK, U.S., Australia and New Zealand.
Of those surveyed, 30% suggest that the cost outstrips the return and 21% agree that they tend to go with well-known agencies that are too expensive and not a good fit for their business. Common complaints were receiving support from only junior staff (23%), false starts on projects (20%), and high agency staff churn (19%).
“The pressures of COVID-19 and Brexit have thrown into focus the inadequacies of the traditional 'bricks and mortar' agency model. It’s broken. At a time when marketers are having to produce relevant and quality coverage on limited budgets, communications agencies need to exploit the digital technologies that are helping so many businesses survive the disruption of the pandemic and the uncertainly around Brexit trade deals,” said Judith Ingleton-Beer, CEO at IBA International.
Data for the study was collected through Cint, the market research technology company that operates the world’s largest sample exchange