MIAMI--What keeps owners of independent marketing communications businesses up at night?
Sustaining growth came out as No. 1 in an informal survey of members of the ICOM network. At the recent ICOM Annual International Management Conference, this year held here, principals of the independent agencies representing all regions of the world were asked to name their top two business concerns. Growth beat out every other issue hands down from technology to personnel issues to financial issues.
However, while “sustaining growth” came out on top in every geographic region, the agency principals differed by region when it came to their next pressing concerns. In North America, recruitment and transfer of ownership of the agency were other major concerns. In Europe and Latin America, cash flow and profitability were important, and in Asia/Pacific, loss of a major client and personnel retention, kept business owners awake at night.
Here is how the responses broke down by geographic region:
|
North America |
Europe |
|
Growth 12 Recruitment 7 Transfer of ownership 6 |
Growth 16 Agency positioning 3 Cash flow 3 Profitability 3 |
|
Latin America |
Asia Pacific |
|
Growth 10 Cash Flow 3 Profitability 3 |
Growth 10 Loss of major client 3 Personnel retention 3 |
About ICOM: Rollinsville, Colo. (USA)-based ICOM is one of the world's leading global networks of independent marketing communications agencies, with US$2+ billion in billings and US$300 million in gross income annually from more than 75 members in 55+ countries. ICOM offers a full range of integrated marketing and media communications services and is an alternative to the huge and increasingly similar agency groups.
Members are available to elaborate on concerns in their respective regions.
Contacts:
Nancy Giges, nancy@icomagencies.com 1-914-683-5108
Gary Burandt, burandt@icomagencies.com 1-303-258-9511.
ICOM, P.O. Box 490, 1649 Lump Gulch Road, Rollinsville, CO 80474 USA, 1-303-258-9511, www.icomagencies.com