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2024 U.S. Industry Statistics & Market Forecast - Marketing Consulting Services
Market Size & Industry Statistics
The total U.S. industry market size for Marketing Consulting Services:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Marketing Consulting Services industry is evolving rapidly, driven by technological advancements, changes in consumer behavior, and the increasing focus on sustainable and socially responsible marketing practices. Some key trends shaping the industry are:1. The shift towards digital marketing: The growing importance of digital channels such as social media, search engines, and email in reaching and engaging customers has led to a greater emphasis on digital marketing strategies. Marketing consultants are helping businesses leverage the power of data analytics, artificial intelligence, and automation to optimize their digital marketing efforts.
2. Personalization and customer experience: In today's highly competitive marketplace, businesses are realizing the importance of providing a personalized customer experience that meets individual needs and preferences. Marketing consultants are helping companies leverage customer data and insights to develop effective, personalized marketing strategies that build brand loyalty.
3. Sustainability and social responsibility: Consumers are increasingly conscious of environmental and social issues, and expect brands to demonstrate a commitment to sustainability and social responsibility. Marketing consultants are helping businesses develop and implement marketing strategies that communicate their values and positive impact to customers.
4. Collaboration and partnerships: Marketing consultants are collaborating with other agencies and service providers to offer more integrated and holistic marketing solutions to clients. This includes partnerships with data analytics firms, social media managers, and creative agencies to provide comprehensive marketing services.
Overall, the Marketing Consulting Services industry is moving towards a more data-driven, customer-centric, and socially responsible approach to marketing, driven by advances in technology and changing consumer expectations.
Product & Services Breakdown
Research products and services in the Marketing Consulting Services industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Strategic Management Consulting And Implementation Services |
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Business Strategy And Planning Consulting And Implementation Services |
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Other Strategic Management Consulting And Implementation Services |
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Financial Management Consulting And Implementation Services |
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Marketing Management Consulting And Implementation Services |
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Marketing Strategy And Market Development Consulting And Implementation Services |
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Sales Management And Development Consulting And Implementation Services |
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Other Marketing Management Consulting And Implementation Services |
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Human Resources Management Consulting And Implementation Services |
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Operations And Supply Chain Management Consulting And Implementation Services |
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Other Management Services |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Marketing Consulting Services company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Marketing Consulting Services industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Marketing Consulting Services measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 16% | Order at top of page |
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| Top Executives | 7% | |||
| Chief Executives | 0% | |||
| General and Operations Managers | 7% | |||
| General and Operations Managers | 7% | |||
| Business and Financial Operations Occupations | 34% | |||
| Business Operations Specialists | 30% | |||
| Management Analysts | 12% | |||
| Management Analysts | 12% | |||
| Market Research Analysts and Marketing Specialists | 5% | |||
| Market Research Analysts and Marketing Specialists | 5% | |||
| Computer and Mathematical Occupations | 10% | |||
| Computer Occupations | 9% | |||
| Sales and Related Occupations | 7% | |||
| Office and Administrative Support Occupations | 15% | |||
Marketing Consulting Services Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Marketing Consulting Services industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Marketing Consulting Services industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Marketing Consulting Services industry. |
Source:
Innovation News
- Jan 31, 2024: Orion Security LSP trademarks "ORION FLEET INTELLIGENCE" - Vehicle fleet monitoring services for safety purposes
- Jan 23, 2024: Optibrand trademarks "DECIDEIQ" - Analyzing and compiling business data; Business assistance, management and information services; Business consulting, management, and planning services in the field of health and cosnumer goods; Business management and organization consultancy; Marketing research services in the field of health and cosnumer goods; Marketing services
- Jan 03, 2024: 100X Marketing Group trademarks "100X" - Advertising and marketing
- Oct 31, 2023: 83Bar raises $4 million in funding.
- Mar 16, 2023: Vibenomics patents Audio-out-of-home Streaming At A Retail Location
- Jan 12, 2023: TOMIS Holdings raises $1 million in funding.
- Jul 12, 2022: TOMIS Holdings raises $1 million in funding.
- Jan 28, 2021: Immersyve patents System And Method For Customized User Content
- Jul 16, 2020: Hip Innovation Technology patents Surgical Trays, Instruments And Methods For Implanting A Hip Replacement Prosthesis
Recent Federal Contracts for Marketing Consulting Services- Apr 02, 2024: POWELL STRATEGIES, LLC (Annapolis, MD) awarded $355,895
- Apr 02, 2024: ENSEMBLE GOVERNMENT SERVICES, LLC (Hyattsville, MD) awarded $577,450
- Apr 01, 2024: RED CARROT INC (Miami, FL) awarded $5,032,685
- Apr 01, 2024: APTIVE RESOURCES LLC (Alexandria, VA) awarded $2,249,941
- Mar 30, 2024: BANYAN COMMUNICATIONS, INC. (Saint Charles, MO) awarded $791,546
- Mar 30, 2024: OGILVY PUBLIC RELATIONS WORLDWIDE INC. (Washington, DC) awarded $28,581
- Apr 02, 2024: POWELL STRATEGIES, LLC (Annapolis, MD) awarded $355,895
- Apr 02, 2024: ENSEMBLE GOVERNMENT SERVICES, LLC (Hyattsville, MD) awarded $577,450
- Apr 01, 2024: RED CARROT INC (Miami, FL) awarded $5,032,685
- Apr 01, 2024: APTIVE RESOURCES LLC (Alexandria, VA) awarded $2,249,941
- Mar 30, 2024: BANYAN COMMUNICATIONS, INC. (Saint Charles, MO) awarded $791,546
- Mar 30, 2024: OGILVY PUBLIC RELATIONS WORLDWIDE INC. (Washington, DC) awarded $28,581
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