Editorial: Digital agencies spend big for new briefs

Any new-business director will testify to the amount of hard work and money that gets ploughed into winning new accounts.

But the AAR's new study, showing the biggest ad agencies are investing £500,000 a year in chasing new business, is higher than most would expect, given the amount of new accounts up for grabs across the course of the year. Now, despite the seeming bonanza in digital new business, digital agencies are catching up with these levels of spend. The really interesting thing about the statistics, however, is that they show a growing maturation in the way digital agencies are now driving their businesses and marketing their own brands.