Last Updated on: 21st November 2023, 08:57 pm
London-based technology company Studiospace is preparing to open offices in the United States just 12 months after it began trading.
The digital matchmaking service, which connects chief marketing officers (CMOs) and brand owners with independent creative agencies, already has offices in London and Sydney.
Last year, Studiospace gained £1.5m of investment from Fuel Ventures to expand and market the business.
Studiospace CEO Pete Sayburn says the US market is crucial to his business’s plans to disrupt the way marketing agencies are hired.
“The US advertising and marketing sector is the biggest in the world and is crucial to our global plans. We have already signed up an amazing roster of agencies and are talking to some big brands in the US,” Sayburn says.
“The response has so far been very positive. All across the world, CMOs are being asked to do more with less budget and to innovate more. Connecting these brands with the hottest agencies is the way to do that.”
A number of US-based agencies including Unit-9, Akcelo, Reed Words and MKG have already signed up to Studiospace’s digital platform.
The platform enables brand owners to share a brief and then receive three agency proposals within five days. Once the winning agency is selected, Studiospace takes care of the contracts, invoicing and payments, enabling the agency and client to focus on the work.
Sayburn believes this new approach will be well received in the US marketing industry which, he says, is ripe for disruption.
“A growing number of UK tech businesses have achieved success in the US in recent years and Studiospace aims to join that list.
“We feel that too much of the ad agency world is old fashioned. It’s too Don Draper and Mad Men, so it’ll be great to set up shop in Madison Avenue and cause some trouble.”
Studiospace has recruited David Cowser, previously of Deloitte-owned innovation agency Market Gravity, to run its New York office.
Sayburn adds: “We know David well from his days working at Market Gravity and with his knowledge skills and contact base was the obvious choice.”
Cowser says he believes the Studiospace concept will work in the US, just as it has in the UK and Australia.
“Clients in the US are seeking creative solutions and I’m excited to bring this new model forward to help them meet their goals,” says Cowser.
“In a year, the model has been proven in the UK and Australia with 80 projects delivered, 180 agencies enrolled and a 90% conversion from brief to project.
“Studiospace offers a single shop window to 100’s of independent digital, marketing and innovation agencies, all accessible under a single contract. It helps brands find the right agency and take care of the account management, contracting and invoicing – allowing unlimited creative choice with no complexity. I believe this is something brands in the US will love.”
