Most (85%) independent media agencies expect business to grow in 2022, according to the latest Pulse Survey from the Independent Media Agencies of Australia (IMAA).
The fourth survey shows almost nine in ten ndependent media agencies anticipate "considerable" or "slight" growth in their business in the new year.]
Most (89%) expecting to recruit more staff in the next 12 months.
Despite the COVID-19 pandemic’s impact on advertiser spend over the past 12 months, 60% of independent agencies still recorded an increase in revenue from 2020 to 2021.
“The IMAA Pulse Survey results demonstrate that our members have been able to snap back quickly from lockdowns and the economic effects of the pandemic to achieve growth and great successes for their clients,” says IMAA general manager Sam Buchanan.
“It’s a sign of good things to come in 2022 – we know many agencies are planning on investing in additional staff and expect media spend to increase so I’m excited for the year ahead and what it’s going to bring for independent media agencies across the country.”
Many indies are planning on investing heavily in multi-channel digital buying in 2022, with 67% of survey respondents indicating it would become a major part of their digital media strategy, while the three biggest media channels in terms of growth are expected to be CTV/BVOD, video and social.
The “great resignation” facing many industries across the country as a result of the pandemic and a shifting mind-set towards work/life balance, is not set to affect indies, with 87% of staff planning on staying with their current agency.
However, the talent shortage is having an impact, with 59% saying the talent pool is "poor" or "very poor".
More than half (58%) of indies have a work from home model or a mixed office and work from home model.
The Pulse Survey was conducted among the IMAA’s members in November to gain insight into the mindsets of agencies on current market conditions and views towards media owners. The survey is conducted twice a year among members.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.