Digital Marketing Agency Customer Profile

Goals

To understand the customer profiles of the digital marketing agency client, including demographics, psychographics, motivations, the biggest pain points or challenges, and where they get their information, as well as a competitive landscape of the digital marketing agency market in the US.

Early Findings

DECISION MAKERS

  • Marketing director and CMOs appear to be the primary decision-makers at mid-sized companies when it comes to selecting a digital marketing agency, though lower-level team members such as marketing managers may do much of the legwork in identifying the agencies to consider.
  • In smaller companies, the owner is likely the decision maker in terms of digital marketing, but the budgets are small and the work is often brought in-house.

CMO DEMOGRAPHICS

  • According to a 2018 Association of National Advertisers (ANA) report, CMOs are split almost evenly between women (45%) and men (55%) and largely white (87%).
  • In the financial sector, based on ANA membership, CMOs are primarily white (82 out of 88) and split between women (47/82) and men (41/82), while the technology sector is similar.
  • CMOs are relatively young with an average age of 52, with many from the millennial generation, and have a shorter average tenure (4.1 years) compared to others int he C-suite (5.3 years).
  • CMOs in the financial sector stay slightly longer at 5.1 years.

DIGITAL MARKETING AGENCY INDUSTRY


PAIN POINTS OR CHALLENGES OF MARKETING EXECUTIVES

  • Some top pain points for CMOs or marketing executives include standing out in the overwhelming content consumers encounter, improving the customer experience, creating personalized campaigns and messaging, privacy and security concerns, and choosing the right marketing technology (martech), including artificial intelligence (AI).
  • According to a survey of marketing professionals, the top seven challenges they encounter are low marketing budgets, engaging with their target market, insufficient staffing, lack of support from the C-suite, lack of time, rapidly-changing technology, and combating mistrust of the marketing role.

Proposed next steps:

You need to be the project owner to select a next step.
As the initial research offers a very broad overview of the digital marketing agency client (decision maker), we would recommend continuing the research to delve more deeply into 1) who the decision-maker is with a more extensive dive into the mid-market client, 2) a demographic profile of CMOs and other marketing executives, 3) a psychographic profiles of CMOs and other marketing executives, 4) an overview of the pain points and challenges faced by CMOs and other marketing executives, especially where it concerns digital marketing, and 5) a competitive landscape of Publicis Groupe SA, The Interpublic Group of Companies Inc., WPP PLC and Omnicom Group Inc. with a specific emphasis on their digital marketing services.
Alternatively, we could focus on 1) a psychographic profile of CMOs and other marketing executives, with a emphasis on those in the financial and technology sectors 2) an overview of the pain points and challenges faced by CMOs and other marketing executives, especially where it concerns digital marketing, and 3) a competitive landscape of Publicis Groupe SA, The Interpublic Group of Companies Inc., WPP PLC and Omnicom Group Inc. with a specific emphasis on their digital marketing services.