Why 2023 Is The Year for Small Agencies to Thrive. Tiny U.S. agencies are now included in Adweek’s “Agency of the Year” program, in addition to the number of small agencies who made their “Fastest Growing Agencies 2022” list (of 20 agencies, 14 have 50 or fewer people).
Small agencies will succeed despite the difficulties of the last three years, which included the pandemic, inflation, the changing nature of the workplace, and now even a possible recession.
Small agencies are certain they are prepared for success, regardless of what 2023 brings, according to conversations I’ve had with hundreds of agency directors over the past several years. Due to the global pandemic alone, prominent brands switched from working with established huge agencies to newer, smaller ones, creating a “new wave of tiny agencies.” this is a testament to their strength.
Here are a few reasons why this year small agencies are poised to win big:
More flexibility
This is the superpower that allowed numerous tiny organizations to step up during the pandemic. They are adept at maximizing resources and possess quick reactions. Consider a tiny public relations or advertising firm. They frequently lack sizable finances to squander expensive paid media campaigns or sizable teams to execute. They are creative and accustomed to working with small teams, restricted resources, and earned methods to achieve extraordinary results.
Small firms won’t bat an eye if a customer suddenly needs to cut costs and work with a tighter budget because they can still get results. Think of them as up to the task.
Small agencies frequently concentrate on projects as opposed to huge retainers, and because they have far lower overhead costs (such as office space and employee pay alone), they can also provide reasonable pricing. Additionally, they may change methods more readily and, more significantly, adopt them much more quickly than larger agencies, which are sometimes noted for their difficulty in cutting through red tape.
Personalized service
Anyone who has worked in a small agency understands that you develop a tight relationship with your clients, frequently on a personal level. You have a strong desire for their success. Effortlessly, this comes much more naturally when working with five clients as opposed to, say, 15 or more! During your weekly or biweekly calls, the client often addresses the account’s personnel directly delivering the work, versus an account lead who simply shares the information with the rest of the team.
When things are rough, one of the biggest worries is clients quitting or delaying projects. Clients are more likely to succeed when working with a small firm that they can get to know personally and that can quickly change course and scale back to accommodate their demands. Even more, being able to rely on a smaller agency team that is more approachable will make them a significant advantage when the heat is on for brands to achieve results in difficult times.
Tapped-in to technology
Compared to their larger rivals, smaller agencies simply cannot afford to not be their most structured, efficient selves. They frequently have procedures and systems in place to ensure that as well. This will provide them an advantage, particularly in a year filled with economic uncertainty. Delivering client work on schedule and under budget is a small agency’s top responsibility since it helps them build their reputation. Small agencies are frequently still creating the groundwork for success.
The most effective small businesses employ project management software to make their operations as efficient as possible and position themselves for expansion. With the appropriate technologies, they can differentiate themselves from the “big guys” and, more crucially, foster client confidence during a period of uncertainty. This is particularly true when projects and tasks are accessible to clients via software. More openness and communication are present, and technologies like integrated time monitoring and budgeting make sure that no time is unaccounted for and no money is lost.
Results-driven experts
There are unquestionably advantages to working with a big agency that provides all services in one place and is a “one-stop shop.” Goals and objectives must, however, become more narrowly focused when client finances may become more constrained. This is when working with a company that focuses on one or a few items and is proficient in them can be more advantageous.
Anyone who has worked in a small agency will tell you that you can’t hide the same way you would in a large firm if you aren’t at the top of your game. You are more likely to succeed and avoid burning out when you take a more simplified approach supported by a small team of professionals through a whole lot of budget in the process. Not to add, since you are one of the few important clients they are serving, tiny companies are eager to make sure you achieve your objectives.
Don’t be hasty to dismiss boutique agencies and the benefits they can offer, especially in the face of impending economic instability, whether you’re thinking about working with a tiny agency for the first time or are worried about sticking with your existing larger agency. There is no shortage of what they can offer organizations, from their swift adaptability to their incredibly personalized service, effective tech-driven processes, and specialized expertise.
No matter what, keep in mind that the objective should not be to reduce expenses, but rather to spend wisely and prioritize certain operations to achieve the best results ROI.
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