Exploring the Insights from the 2023 New Business Barometer: Key Takeaways for UK Agencies In a dynamic and ever-evolving industry, staying ahead of the curve is crucial for agencies seeking to thrive. The 2023 New Business Barometer, a collaborative effort between jfdi, the UK’s leading specialist new business consultancy, and Opinium, an award-winning strategic insight agency, offers a comprehensive analysis of the UK advertising and marketing landscape. The sixth annual survey, conducted among 205 new business professionals in UK agencies, sheds light on new business performance trends in 2022 and insightful projections for 2023. Diverse Agency Landscape The survey encompassed a range of agency sizes, with 16 disciplines across 205 small, medium, and large agencies within the Marketing Communications sector. Ambitious Revenue Goals Medium-sized agencies emerged as the most ambitious in terms of new business revenue targets, witnessing a significant 47% increase from 2021 to £3,143 million. In contrast, small agency targets faced a dip of 14% to £719,000, continuing a downward trend over three years. Large agencies experienced a slight 2% uptick from 2021 to £6,509 million in revenue targets. Strategic Investment in Marketing Interestingly, the study highlighted diverse investment trends in marketing across different agency…
