The New Business Environment for Marketing Agencies in 2023

According to recent research, 37% of American marketing agencies say obtaining new business in 2023 has been harder than last year. 58% of agency executives found it harder to obtain new business in 2023 compared to 43% in 2022.

Agency executives cite fewer opportunities, challenges breaking through, and difficulty reaching the right people as reasons for this. 41% say the dollar amount of new opportunities has decreased this year.

The report was based on a 2023 survey of 250 US advertising and marketing agency executives.