News / Blog: #employee

The great agency death - Why 80 percent of all agencies will no longer be able to cover their costs in 2023

The great agency death is a problem that will confront many agencies in the coming years. It is expected that by 2023, more than 80 percent of all agencies will be unable to cover their costs.

This is due to a number of factors, including increasing competition, which means many agencies will have to lower their prices to attract business. It's also possible that some clients who turn to large agencies prefer to buy individual services instead of an expensive, full-service offering, which means agencies also receive less money per job.

In addition, increasing technologies are increasing the use of automated processes, which means that much of the work that used to be done by agencies is now done by computer programs. This results in agencies needing fewer employees to do their work, which in turn results in cost savings.

Another factor driving agency death is the increasing competition from new, very low-cost agencies that are often used to replace existing agencies. These new agencies often offer much better value than many established agencies, making them more popular with clients.

Finally, some agencies may also be affected by the impact of the Covid 19 pandemic, as some industries have suffered a severe downturn that has reduced demand for agency services.

All of these factors contribute to the possibility that many agencies will no longer be viable by 2023 because they will not be able to cover their costs. It is therefore important that agencies actively seek new ways to reduce their costs and develop new revenue streams now in order to survive in an increasingly competitive landscape.

How to write a press release?

When writing a press release, there is a lot to consider. This includes both structural and formal as well as legal aspects. For example, it is necessary to provide the contact details of a specific contact person. At the end of the press release it is advisable to insert a short portrait or a short description of the publishing company, in which relevant key figures and information such as number of employees, market position, turnover or year of foundation are mentioned.

Company database: According to which filter criteria or characteristics can the companies be filtered?

The company database can be filtered according to various filter criteria or characteristics. These criteria include industry, size of the company, location, turnover, number of employees, products and services, VAT number and other relevant information. There are also various search options that can be used to search the database specifically according to certain criteria.

When should you send a press release?

A press release should be sent whenever an important news or development in a company needs to be announced. This includes new products, services or promotions, important employee changes, success stories or other important news. A press release can also be useful when launching a new website or blog, gaining new customers or celebrating a special event.