08 Jun Top 10 takeouts from 2016 SoDA Digital Outlook Study
SoDA – The Digital Society – has published its annual Digital Outlook Study in the 2016 Vol.1 SoDA Report. It’s a global study conducted in association with Forrester Research, which polled 629 marketers who are collectively responsible for more than $6 billion in global annual spend.
Despite a disconnect between clients and agencies on expectations and satisfaction, the agency model will thrive in the next 12 months as the number of clients who plan to take digital in-house has more than halved year on year (13% for 2016, 27% in 2015). Contrary to reports of client-agency consolidation, the number of clients with three or more digital shops on their roster also grew 42% year on year.
Honey’s top 10 takeouts:
- The number of clients who plan to take digital in-house has more than halved year on year (13% for 2016, 27% in 2015)
- Market or marketing research was the number one most valued skill in clients’ relationship with their agencies — an option that was at the very bottom of the list last year
- One third of agencies are providing education and training services to clients
- More than half (55%) of respondents plan to increase digital budgets overall
- 82% of clients plan to increase budgets for digital experiences (e.g. websites, mobile web)
- Only 48% of agencies believe specialisation is the route to growth
- More than one in five respondents believed they had a talent gap in delivering user experience
- Between 2015 and 2016, the percentage of agencies that do not provide any training to their staff almost tripled, growing from 5% to 14%
- Agency inexperience as a reason for termination more than tripled from 6% to 21% in 2016
- Nearly half (47%) of agencies report to have an innovation lab or product incubator within the business. These have led to a number of direct impacts that include: significant revenue growth for the company (20%), talent retention (53%) contributed to new business wins (54%)
Mark Terry-Lush, partner and managing director of The Honey Partnership, commented: “The SoDA Report is a must read for any brand or brand builder that invests in digital because it measures the state of the industry from both client and agency perspectives, publishes thought leadership viewpoints from c-level marketers and curates some of the world’s best case studies.”
Visit www.sodareport.com for more.