COVID-19’s Impact on Digital Agencies’ Revenue and Leads
At this point, you shouldn't be helped to remember how the COVID-19 pandemic is changing the world. The impacts are all over the place, in the manner in which we work, play, and rest.
Who has been affected the most? This depends on the industries and how they were planning to deal with the situation. But, there is no one who hasn't experienced a downfall.
Naturally, digital agencies are among those that are learning to cope with this unprecedented situation. We are uniquely placed to see how this has affected the lives of agencies and businesses at large.
Two-thirds of digital agencies experienced a decrease in overall revenue because of the COVID-19 pandemic, according to recent research.
Some 9% of agencies say total revenue dropped by half or more because of COVID-19, a quarter says revenue dropped between 30% and 50%, and 32% say revenue dropped by less than 30%.
See you on the action-field,
Raksha Sukhia, SMB Growth Expert,
Founder BBR Network. #bbrnetwork
Two-thirds of digital agencies experienced a decrease in overall revenue because of the COVID-19 pandemic, according to recent research from Uplers.
The report was based on data from a survey of more than 130 digital agencies of various sizes from across the globe.
Some 9% of agencies say total revenue dropped by half or more because of COVID-19, a quarter say revenue dropped between 30% and 50%, and 32% say revenue dropped by less than 30%.
COVID-19's Impact on Digital Agencies' Leads
Some 47% of digital agencies say they experienced. a decrease in leads because of COVID-19, and 27% say they experienced an increase.
Steps Agencies Took to Deal With the Situation
To deal with the impact of COVID-19 on their businesses, digital agencies explored new channels for new clients (29%. say they did so), offered new services to existing clients (29%), prospected. in new industries (17%), brought all work in-house (12%), and moved to outsourcing (7%).
Source: Ayaz Nanji,Marketingprofs
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