TBC
New Business Market 2021 By Martin Jones and Rebecca Nunneley
Although
we’ll have to wait until later this month to collate full data on the new business market in 2021, we wanted to share a few observations on what we’ve witnessed in the last twelve months with you now, in this edition of Pulse.
❶ The overall new business market After a year of almost total lockdown, it shouldn’t have come as a major surprise to anyone that the new business market kicked back into action in 2021. Many marketers had retrenched in 2020, worrying about their own families, their own businesses and customers rather than their external agency relationships. ‘If it ain’t broke, don’t try and fix it’ was probably the viewpoint of most brand owners in 2020; particularly when they knew that they probably wouldn’t get the opportunity to press the flesh with any new prospective agency partners.
However, as the chimes of Big Ben (if there were any!) closed off the year, it felt as though there was a renewed momentum in the new business market, and January seemed awash with announcements of agency reviews. Whilst this volume never abated in the world of media (see point two), it did calm down somewhat in other disciplines, particularly creative, and we are predicting that by the time that we compile the final figures for 2021, the overall new business market (for any discipline) will have seen a 47% year on year increase and be back to (if not slightly up on) 2019 levels. So please keep your ears and eyes open for our annual new business Pulse report, which will be published later this month.
❷
The explosion in number of media reviews You would have to be living on a different planet (or at least not working in a media agency) to have missed the huge number of ▸ 25
