95% of institutions met or exceeded their 2021 revenue targets with a profitable service offering.
Will 2022 be another great year for agency growth?
We believe it will, especially If your agency matches and surpasses what your competitors may be doing.
In this article, we will share the main findings of CallRail 2022 Outlook for Digital Marketing Agencies Reports will help you grow your agency and stay ahead of competing agency trends.
1. 86% of organizations added new service offerings—and you should too.
To stay competitive, agencies turned to their most profitable service offerings and added new services to meet client needs.
In 2021, the most popular service offerings are:
- Social media marketing (reported by 34% of agencies).
- Full-service figures (29%).
- Website design and development (25%).
Although the popularity of website design and development has declined from 2020 to 2021, it is still the third most popular service in the past two years.
Social media marketing and full-service digital ranked #1 and #2 in 2020’s most popular services, SEM/paid advertising, and SEO.
Why are agencies adding these services?
One possible explanation for the shift in service focus from SEM to social media marketing is the increase in social media users last year.
According to the latest social media statistics, 400000000 In 2021, new users signed up to at least one social networking site.
These insights can help your agency discover what services your competitors are likely to add, allowing you to add them too.
2. 32% of agencies report social media marketing as the most profitable service
If you haven’t added social media marketing, consider adding them to your agency’s service offerings.
In addition to being the most popular service product, social media marketing is also considered the most profitable service product by 32% of agencies.
It was followed by full-service figures (28% of agencies reported the most profitable) and website design and development (24%).
3. Agency spends 20 hours per client per week on marketing strategy
Is your agency spending too little time on client strategy?
Agencies report that each client spends an average of 20 hours per week on marketing strategy and tactics.
What about the other time spent managing clients?
Institutions report average spending:
- 76 hours for account management and communication.
- The reporting time is 56 hours.
- 16 hours for institutional management.
These numbers can serve as a benchmark for your own agency’s productivity and ROI.
Trust your client’s account to perform better? Check your time spend against these benchmarks.
While finding more efficient ways to manage and communicate with clients helps with ROI, time spent reporting can have a positive impact.
4. 86% of institutions list client reporting as an essential service
When it comes to customer growth, reporting is critical.
Institutions that did not meet or exceed client growth targets were 15% less likely to see client reporting as an essential service.
