According to research carried out by the SINAPRO/FENAPRO Ecosystem, 80% of agencies reported stability or growth in revenue in 2023
The VanPro survey, carried out by the SINAPRO/FENAPRO Ecosystem with 309 agencies from 20 States and the Federal District, showed that agencies’ expectations for business and the advertising sector remain positive for 2024.
The study also pointed out that the majority of agencies showed growth in 2023.
“The new survey confirms the growth trend of agencies in relation to revenue and the perception of stability and a better future for the sector. The survey also shows a good business environment, and that a good number of companies managed to identify or create opportunities to take advantage of them successfully”, said Daniel Queiroz, president of Fenapro (National Federation of Advertising Agencies).
In the current survey, the research revealed that 80% of agencies reported stability or growth in revenue and, among those that grew, 30% had an increase in revenue above 30% in 2023, compared to 2022.
From a financial point of view, the research showed that there is a scenario of continuity in the evolution of companies’ revenue. Of the agencies interviewed, 53.4% indicated that revenue is on the rise and, of these, 51.5% (equivalent to 27.5% of the total) indicate growth of more than 30%.
On the other hand, 20.4% of companies indicated a loss of revenue, and in 10% of them, the loss was greater than 30% in 2023. Those that indicated stability, in the comparison of 2023 with 2022, represent 26.2% of the interviewees.
Regarding the future, 70% of companies have good prospects for their businesses and 23% expect to remain stable. On the other hand, 4% were pessimistic and 3% indicated that they cannot predict.
“The scenario remains positive in terms of the future for the sector, as 93% indicate that the scenario is stable or points to good prospects, and 70% consider the scenario to be favorable in 2024. This demonstrates that business and sector growth today depends more on take advantage of opportunities and create possibilities for increasing revenue than external conditions”, analyzed Roberto Tourinho, president of Sinapro-SP and member of the Fenapro Working Group.
Regarding the main challenges for 2024, almost 43% pointed to attracting customers and converting proposals, while 21% cited people management and 19% the definition and management of processes. The remaining 17% pointed to other challenges in areas such as financial management, customer retention and increasing margins.
