This month we launched our new research survey. Every month we will ask the leaders of our Member agencies and business Partners up to three questions, covering a range of different topics. The aim of these surveys is to share intelligence with our audience and to turn the findings into thought leadership pieces. We hope you will gain some valuable insights from the findings.
We kicked-off this initiative last week and the findings are in! Leaders from our Members and Partners around the world answered our survey.
We asked our Members and Partners to identify how their new business performance is today. The chart below shows that 42% of respondent’s new business performance is better than 2019. 35% are starting to see new business growth again, and 15% of agencies and businesses are at pre-pandemic levels.
Whilst these results are encouraging, for almost a quarter of our Members and Partners new business is still a real challenge.
The second question we asked our Members and Partners was “Where is your new revenue growth coming from?”. Respondents were able to select up to three answers. Referrals/recommendations came in top with 58%, followed closely by organic growth at 54%. 42% of respondents told us that their new revenue growth comes from new services and skill-sets offering. 35% generated revenue growth from tenders and RFP’s, while 27% gained new revenue from proactive pitching.
The importance of referrals came through loud and clear, and previous research which said people were concentrating on organic growth was confirmed once again.
Lastly, we asked our Members and Partners to identify the biggest threat to their businesses right now. Unsurprisingly, reduced client budgets came in top with 39% of respondents identifying this as their main threat. Covid-19 followed closely with 35%. In third place, almost 27% said that making sure their agency business model is future fit. Interestingly, growing number of competitors and Brexit were only mentioned by 4% of people.
If you would like to discuss the findings or find out more about Tribe Global, please email Elaine Miller at: firstname.lastname@example.org .
Tune in for next month’s Tribe Intelligence research!