This week we are going to look at the number of digital marketing agencies that people deal with, and why that might not be a great thing.
Digital marketing has become an essential aspect of any modern business’s growth and success. As a result, the demand for digital marketing agencies has increased tremendously over the years. Let’s see how that has changed over the last five years.
According to a survey conducted by Clutch, a B2B ratings, and reviews platform, 51% of UK businesses work with one digital marketing agency, while 34% work with two agencies. The survey included 300 UK-based small and medium-sized businesses (SMEs) and was conducted in 2018. The study also found that 8% of businesses work with three agencies, while 7% work with more than three.
In 2019, another survey was conducted by Digital Marketing Institute, which revealed that 45% of UK businesses work with one agency, while 35% work with two agencies. The survey included 450 UK-based businesses and also found that 10% of businesses work with three agencies, while 10% work with more than three.
In 2020, a study by HubSpot, a leading inbound marketing, and sales platform, found that 59% of UK businesses work with one agency, while 25% work with two agencies. The survey included 800 UK-based businesses and also revealed that 10% of businesses work with three agencies, while 6% work with more than three.
The trend over the years indicates that UK businesses prefer to work with one digital marketing agency. The percentage of businesses working with one agency has increased, while the percentage of businesses working with more than one agency has decreased.
Overall, the number of digital marketing agencies UK businesses deal with over a five-year period has remained relatively stable. The percentage of businesses working with one agency has remained consistent, while the percentage of businesses working with more than one agency has fluctuated but has not seen a significant increase.
These are the numbers. But, here is the issue. Have you ever heard if the saying “Don’t put all your eggs in one basket”? I’m sure you have. The digital marketing agency choice has been driven a lot by convenience and sometimes with a little tinge of “better the devil you know”.
That rarely leads the business to be making the best decision for their business. But, because of the skills gap between owner/manager businesses and digital marketing, this tends to be the norm.
Every business owner needs to understand these channels more, how agencies work and how to hold them more accountable. The need for a digital marketing agency should be growing year on year. But, the number of agencies a business deals with year on year should grow as well.
If you want more help and advice on managing these relationships, then feel free to get in touch.