According to a study of more than 300 marketers conducted by SetUp, a company that matches brands with marketing agencies, 38% of U.S. advertisers say they are likely to sever ties with their current ad agency within the next six months. That’s up from the 30% of clients considering firing their main agency within the coming six-month period in the company’s spring 2021 survey, reports Inside Radio.
According to Inside Radio, “SetUp’s fourth such study, with respondents leaning towards those on the client side with a director-level-or-higher position, and those on the agency side identifying as a member of their agency’s executive leadership team, included brands such as Delta Air Lines, Warner Bros., Discovery, Coca-Cola and AbbVie, and employees of agencies such as Luckie, Bounteous, Dalton and Goods & Services.
“According to SetUp’s report, while both clients and agencies cite many of the same reasons for termination, the order of importance differs. From the agency side, cuts to the client-side marketing budget, shakeups in the client’s leadership team and dissatisfaction with the agency’s delivery rank 1-2-3, while for clients, a lack of strategic approach is the largest factor, followed by leadership changes, an agency’s misunderstanding of client business and dissatisfaction with delivery.”