What Do CMOs Want In An Agency Partner?
Even with expected increases in digital marketing budgets, mounting evidence shows a deterioration in the relationships between marketing agencies and clients.
Research indicates continued growth in marketing spend. In a 2015 survey of 200-plus digital marketing executives, Mondo found that 80% expect to increase their digital marketing budgets in the next 12 to 18 months. Similarly, The CMO Survey predicted an 8.7% increase in marketing budgets this year.
But even with expected increases in spending, mounting evidence shows a deterioration in the relationships between marketing agencies and clients.
A survey conducted by Avidan Strategies, for example, found that 62% of clients view their marketing agencies as a supplier and not as a partner. Moreover, 73% felt their agencies were incapable of generating genuine customer insights, and more than half believed agencies have a poor understanding of the issues that impact their business.
In order for agencies to absorb the expected growth and meet client needs, building stronger, more insightful relationships with clients is imperative. So LEAP conducted its own study to uncover traits and characteristics most valued by marketing executives when choosing an external marketing partner.
Click on the infographic, below, to view in a separate tab. The full study is available here (PDF).