New business is the lifeblood of any agency, and acquiring those new accounts has become increasingly complex in recent years. Clients have become more demanding, competition is fierce and diverse, and agencies of all stripes have been forced to evolve and adapt to a rapidly shifting marketplace.
One area in particular has become a fierce battleground — social media. Traditional advertising agencies, PR agencies, and boutique social/digital shops all can be battling for a brand’s social media business. BIA/Kelsey projects that U.S. social media advertising revenue will reach $15 billion by 2018, and with budgets on the rise, landing a piece of social media business has great appeal.
