2024 is moving fast. Here’s what we’re seeing in the agency search world.

Mergers & Consolidations

Agency mergers and consolidations dominated the news in Q1. From mid-sized, independent agencies joining forces to holding companies consolidating their agencies, there was a lot of movement on the agency side.

Our advice to agencies: If you’re involved in a merger or consolidation, communicate the news to your clients and manage the messaging. Clients will wonder, “Will we have the same team? What does this mean for our business?” Better they hear the news from you than through the trade press.

Competition

A hyper-competitive pitch environment has been the norm for the last few years, so it was no surprise to read about large media agencies going after small opportunities this year.

Our advice as you pitch new business: Focus on your strengths and be realistic. If you’re a large media agency, be prepared to prove why a $10M piece of business is right for you. If you’re a small agency, can you handle an account with $200M in billings? A search is a significant investment of time and money. Make sure you’re going after clients that make sense for your agency and resources.

Creative & Cases

Every brand marketer is charged with driving business results. So, every client is looking for agency partners who can do the same.

Our advice to agencies: Make sure your creative and cases demonstrate how you solved a client business challenge and/or drove results. Now more than ever, clients need to see how a breakthrough creative idea or revolutionary media plan not only dazzled, but also delivered real tangible business.