We’re thrilled to once again feature in Econsultancy’s highly anticipated Top 100 Digital Agencies Report. Somo ranked in the top 10 for fastest-growing independent digital agencies in the UK and 32nd in the top 100 (by fee income). The full report features in-depth analysis and expert commentary on the state of our industry; worth £320 billion, according to the UK digital fee income data submitted.
The data captured by Econsultancy is illuminating: although it’s been a turbulent year for some of the UK’s digital agencies – with competition from in-housing and consultancies, and with political and economic uncertainties – the good news is that, not only is the digital market strong, it is also confident. The report shows 90 per cent of participating agencies are expecting to grow over the next 12 months – especially amongst the independents!
Most of the digital agencies in the UK earn the majority of revenue from clients in the financial services sector (69 per cent); clients from the retail sector is the second most popular:
“It’s no surprise that UK digital agencies are earning most of their work from these sectors, particularly financial services, which has witnessed significant disruption”, says Rebecca Crook. “The change in financial services is no longer driven by banks, but by customers. The rise of neobanks and their outstanding adoption rate shows that customers want to see change. And this threat from disruptors has positively encouraged those in financial services to consult digital agencies on how to compete”.
So, what’s next? Industry experts agree that personalisation and connectivity have become the new growth space for digital; the partnership of brand identity and customer experience being key. Our high position in the ranking shows that Somo’s approach is leading the game when it comes to collaborative and effective product design and development – accelerating the impact of digital products, processes and culture amongst its clients.
Somo’s Digital Assistant application for ŠKODA is a winning example of how we deliver a seamless, valuable interaction between business, customers and technology. The brief was to create an iOS application for use on iPads in showrooms across the ŠKODA UK retailer network to re-engage customers in a new connected experience. The app needed to support the sales team to sell new cars and aid in the upsell of higher specification models, trims and optional extras. This is whilst also giving the customer a premium experience in the showroom to improve their understanding of the ŠKODA range. The Digital Assistant app led to an increase in customer satisfaction scores to 4.94 out of 5. All 123 UK retailer showrooms are now using the app, with great results. Since the national rollout in January, the app has had 30,000 hours of usage, with extremely positive responses from staff and customers alike.
You can read the Econsultancy report in full, here.
Author: Deryck Chester