1. Digital agencies grow billings by 20%
The top 100 digital agencies have grown billings by 20% year on year to £2.8bn for the year ending August 2017, according to a report by Marketing Week’s sister company Econsultancy.
However, most of that growth has come from the biggest agencies. Over a five-year period, the average net fee income of the top 10 agencies has grown by 168% to £159.6m, while for the rest of the top 100 that growth is just 38%.
Accenture Interactive topped the rankings for the second consecutive year, recording a fee income of £351.4m for the year ending August 2017. It was followed by IBM iX, Atos Digital Services, Cognizant Interactive and Wunderman UK Group,
2. Three-quarters of consumers don’t want to be tied into long-term relationships
Three-quarters (73%) of consumers avoid services that tie them into long-term contracts. Among subscription users, 54% say they opt for the most flexible options even if it costs more.
Flexible subscriptions tend to appeal to those on higher incomes, parents and millennials, with 77% of parents and 83% of those with household incomes over £75,000 saying they use at least one subscription service.
Some 59% of millennials agree subscription-based products or services offer value for money.
3. Marketing salaries reach record high
Salaries for marketing roles across the UK climbed by 33.2% year on year in September, increasing from £32,710 to £43,560, marking a record high.
Growth in salaries in the marketing sector has outpaced the national average of 6.6%, making it top of the list and outranking nine other industries regarding pay growth.
The charity sector second came in second with an average salary of £31,540 (up 33.2%),followed by legal, which was up 10% to £33,280.
4. Retailers warned not to overdo social and smartphone marketing campaigns
Retailers that focus their marketing budgets on social media and smartphone campaigns might be on the wrong track, with just 9% of UK shoppers saying social media forms part of their purchase journey.
Additionally, 54% still use a home computer or laptop when they carry out online research or look for inspiration before making a purchase, compared to 38% who use a smartphone.
Categories where social media has the most influence on shoppers are bathroom (15%) and beauty (11%), compared to just 6% for DIY and garden and 7% for fashion and apparel.
5. Knowledgeable sales reps are still essential for B2B buyers
Knowledgeable sales reps are still essential, with 38% of B2B buyers saying they prefer to interact directly with sales reps rather than doing their own research, while 32% prefer a combination of research and conversations.
More than half of respondents (54%) say they prefer calling and emailing. Another 56% would rather sales reps answers to their questions before purchasing and 40% say they prefer onsite visits.
C-level executives (60%) and vice-presidents (82%) say not understanding sales content slows down their purchase decisions.
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Phvntom, Inc. is a digital marketing company located in Boise, Idaho that creates websites, apps, and full-scale promotions/campaigns for other businesses. The views and opinions expressed in this article are strictly those of its authors and were not written by Phvntom. This article was originally published by Marketing Week.