How much of an agency’s revenue should come from new business?

How do top agency leaders really think about that balancing act? Let’s ask them.

Emma Hillary, head of growth, Verity Relationship Intelligence: “The healthiest agencies see growth and retention as inseparable. Despite retention being five times more cost-efficient than acquisition, many still chase new business while existing clients quietly drift. Our latest data shows that with two rounds of client dissatisfaction, often in less than eight months, an account can go up for pitch. However, a recent study shows agencies that grow their ‘active advocates’ (those in the upper quartile of satisfaction) see organic income increase by 10%. The agencies that thrive next year will treat relationship management of existing clients as their growth engine, not an afterthought. With client satisfaction at 8.0 and team morale slipping to 7.3, many teams are already working at full stretch to keep clients happy; adding relentless pitching to that mix only heightens the risk of churn.”

Nadja Bellan-White, North America CEO, M+C Saatchi: “We’re in the business of building long-term relationships, but not everyone works that way. Currently, we are at about 50% retained clients and 50% net-new. Our goal is to increase that to 70%/30% over the next two years. We want to go on the journey with you, for the long haul, and grow with you.”

Cat Davis, Group CMO, Atomic London: “I go by my own methodology: The Davis Equation. It’s a simple way to keep the agency healthy and growing without constant cardiac arrests. Agency Health = 0.75 RT + 0.25 NT. R represents the revenue we expect to retain year-on-year, N representing the new business needed to fuel growth, replace natural attrition and open up new verticals or services and T our total revenue target. This balance helps us judge everything from cash flow and staffing to margins, cultural stability and our ability to invest in innovation. Based on our client relationships, pipeline and the way we work, we’re taking a positive, growth-minded view that around 75% of next year’s target will be retained, giving us the foundations, focus and confidence to keep pushing forward.”

Jef Loeb, chief creative officer, strategist & writer: “This is a sly dog of a trick question. The balance is entirely situation-dependent, relying on variables ranging from the strength and/or deterioration of existing relationships (they all deteriorate), the billing model(s), profit requirements, staffing and similar crack for the green eyeshade set. There’s also what said new business might be worth, either by way of plugging tears of red ink leaking from the walls or allowing us to up the bubbly to Cristal for the holiday party. Two quick rules of thumb: in an old-school shoot-out between pitch and onboarding costs, the agency can generally plan on hanging fire until year two to see anything more than cash flow. The second, and regardless of economics, the euphoria of a win lasts just long enough for the panic to set in. Always.”

Louis Lunts, partner, Cummins&Partners: “New and retained seems to be going the way of ATL and BTL, phones and cameras or politics and reality TV. While it may have once been right to delineate between the two, they’ve been so smushed together that it’s hard not to see them as one and the same. We’ve seen two examples of this in the past month. First, an entirely new client sailed into the agency without a pitch, thanks to a friend who trusts us. Second, a client we’ve worked with for years launched a hotly contested pitch for next year’s projects. Should both be classed as new business? Either? Neither? You see the problem. Instead of apportioning efforts into new and retained silos, why not tend the garden and watch it grow? Great work begets great work. If you trust in that process, you can’t go far wrong.”

Paul Birks-Hay, president, Park & Battery: “New business is the lifeblood of any agency. No two ways about it. Winning tells you that you have a product that people want to buy today (not yesterday) and keeps energy, morale and momentum running high. Even more importantly, new business provides a diverse stream of new opportunities that excite your talent, grow their experience and broaden your output. But, your ability to retain talent, to innovate and often to do your best work comes from maintaining your existing client base. So, how do you balance the two? By showing equal hunger for both. Hunger is what gets your clients coming back for more (and hitting at least 70% of your numbers) and hunger is what will give you the new business shots on goal you need to blast past your overall revenue goals and build an enviable portfolio year over year.”

Ted Iobst, president, Stellar: “In the old model, many agencies were forced into a trade-off between new and retained business: people didn’t scale, delivery was inconsistent and margins varied wildly client to client. That meant some shops would subtly shift attention toward higher-margin new deals. AI changes the entire equation. With AI + human-in-the-loop, margins become more consistent, retention improves thanks to more predictive and proactive performance and new business wins accelerate due to faster and more sophisticated auditing and strategy. We’re entering a post-trade-off era where leading marketers can grow both new and retained revenues simultaneously.”

Jody Osman, chief growth officer, Propeller Group: “There’s one certainty in agency life: at some point, you’ll lose a client, no matter how strong the relationship or how good the work. It’s a reminder of why a proactive approach to new business is so important, allowing for shifts in client needs, evolving teams and fluctuating budgets, while staying on track for growth. I typically work to a benchmark of around 20% of annual revenue coming directly from new business. The healthiest model is a balance where retained work underpins your business with stability and predictability, ensuring that you’re not overly dependent on winning a conveyor belt of new clients. That will enable you to focus business development on winning the right work and identifying new opportunities for long-term growth.”

Asher Wren, senior vice-president, growth, Dept: “Most agencies target 70–85% of revenue from retained clients: lower acquisition costs, higher margins, more predictability. But, as AOR-shaped reviews dwindle and the prize for net-new pitches shrinks, agencies are doubling down on retained revenue and on growing existing accounts. The industry has a pitching problem. It’s strange to hear that coming from a new-business professional, I know, but agencies staff and organize around pitching and overinvest in new business, instead of focusing on solving problems and inventing new growth drivers for loyal customers. Our growth strategy is intentionally different. We aim for 85–90% of revenue from retained accounts and structure our teams to continually create new value with one new idea every week and quarterly invested sprints. By focusing on our clients’ growth, we fuel our own, and put work into the world that attracts the next client without the resource-draining pitch.”

Jon Tapper, managing director, Saatchi & Saatchi: “At Saatchis, our best work has always been born of client partnership and a shared ambition to transform their business. It’s often said that new business is the lifeblood of the agency. New business brings fresh challenges and energy, but at the heart of a thriving agency is sustainable client business born of great work and client business results. Grow your client’s business and you grow your own. Great work and great results will also always open the doors to new business. It’s a rare win-win.”

Asieya Pine, co-president, Attention Arc: “A healthy agency balances growth with loyalty. For us, the revenue sweet spot is 80/20 in favor of retained clients. Current clients have placed their trust in us. Honoring that trust is non-negotiable. The most sustainable growth comes from continuously strengthening relationships and identifying new opportunities to help them scale. New business remains important, but never at the expense of existing partnerships. When agencies over-rotate to chasing new logos, they risk eroding the foundation that fuels long-term success. Looking ahead to 2026, our focus is on deepening the value we deliver to current clients first, while selectively pursuing new opportunities that align with our expertise and values.”

Chris Rose, executive director of growth, Cylndr Studios: “The industry keeps score on the wrong things: logo piles, AOR titles, headcount theater. The real question isn’t new versus retained business. It’s whether the work is pushing you in the direction you want to build. Our ‘sweet spot’ isn’t a fixed ratio but in maintaining a balance that moves our business forward. Project work lets us prove ourselves in new categories, solve problems fast and stay sharp. Long-term partnerships give us room to build systems, compound results and deepen impact over time. That mix matters for us and clients because it protects institutional knowledge while bringing fresh perspective and keeps brands from getting stuck. For 2026, the priority is selectively choosing work that aligns with where the agency wants to be, grow and drive meaningful outcomes, rather than chasing applause.”

Cari Bucci-Hulings, president, Betty: “Retaining clients may not make industry headlines, but it’s the number one indicator of a high-functioning agency. Clients are under constant pressure to deliver quarterly results. Therefore, so are we. We’re still in a business of relationships. If you’re difficult to work with, you can only retain clients for so long. But becoming a trusted partner to clients often leads to referrals. Being good for business and being good at business is all just good business. So, adding new brands to the roster is also mission-critical: it safeguards an agency from potential ebbs in existing client budgets and it’s a shot in the arm for new streams of revenue and creative opportunities. At Betty, we expect to retain at least 90% of our clients while adding four to six significant brands each year.”

Tamara Alesi, CEO, Mediaplus North America: “There’s no fixed sweet spot, but if I had to put numbers to it, I’d say 80% retained and 20% new. A healthy balance looks like a foundation of retained client partners that reflects trust and long-term partnership, complemented by a steady stream of new business that fuels growth and innovation. That ratio ensures stability while keeping us curious and competitive. Retained business gives us depth and continuity to deliver smarter, more integrated solutions over time. New business brings breadth, fresh challenges, new categories and opportunities to apply what we’ve learned in different ways. As we plan for 2026, we’re focused on deepening relationships with client partners while selectively pursuing new partners aligned with our values and growth ambitions.”

Ali Cox, founder, Noble West: “Our ideal balance of retainer to project work is roughly 75% to 25%. For our long-term retainer clients, we have the opportunity to fully and intentionally support their goals around business and product transformation through branding, creative strategy and ongoing execution. These arrangements create true partnerships that allow us to lean into our values, collaborate deeply and share both the wins and the challenges. Our business has been built on these longstanding client relationships. Still, we’ve had significant success with project-based engagements. Focused remits often create space for creative sparks and faster activation, generating direct and tangible results. These projects often serve as test runs that ultimately evolved into full retainer partnerships.”

Chris Witherspoon, co-founder, DNA&Stone: “Typically, we target 65–70% of revenue from retained or expanded clients and 30–35% from new business – a sign we’re doing the core job well: growing the brands that already know and trust us. But as a newly merged agency with big ambitions, aiming for a 50/50 split next year keeps us sharp. It brings in brands that reinforce our positioning, builds real momentum and avoids turning us into a pitch factory (an expensive place to be and a distraction from great client work). Too little new business and we stagnate. Too much and we lose our center. The right balance gives us a reliable foundation and a healthy stream of new opportunities that push the agency and the work forward.”

Kenny Tomlin, founding partner, CourtAvenue: “Our sweet spot is roughly 70% retained and 30% new business. Retention is essential to outcomes. Driving complex digital transformation requires the deep institutional knowledge that only comes from long-term partnership; it allows us to move past onboarding and straight into momentum. But that 30% new business is vital oxygen. It proves our expertise is still outpacing the market. For next year’s planning, my priority is organic growth. Introducing new capabilities to existing clients offers the best of both worlds: the revenue spike of a new win with the trust of a retained partner.”

Natasha Broady, client services director, Seen Presents: “Our incumbent clients are incredibly important to us; delivering great work that leads to repeat business is critical. My role is to ensure our clients are consistently happy. Staying close to their feedback is fundamental – we’re only as good as our last job. We all know what goes into acquiring new business. As a young agency, our main focus is to nurture existing relationships, maintaining a 70/30 balance of incumbent growth to new business. We know that if we deliver project excellence, consistent processes and high-quality execution, our clients will choose to partner with us time and time again. That said, new business is essential to our long-term growth – driving innovation and ensuring a healthy pipeline. Next year, our focus will be growing our client roster within the tech and entertainment sectors, to help drive continued success.”

Alison Hawkyard, senior vice-president, growth, Apply Digital: “If I had to put a number on it, the perfect mix would be about 70% retained and 30% net-new business. Having a loyal client base that continually comes back signals that we are delivering actual value and woven into their strategy, not just working on one-and-done projects. Too much reliance on existing accounts becomes a risk. It means you’re not creating new footholds, not expanding your portfolio and you risk losing your edge. New clients bring excitement, momentum and opportunities. It allows you to have fresh opportunities across verticals, a diverse and resilient revenue mix and connect with new executive champions. The 70/30 mix allows predictability you can count on for planning, while also keeping things fresh and exciting.”

Amy Budd, client services director, Launch: “Agency growth is about striking the right balance and the ‘new business v retainer’ sweet spot has become harder to define. Failing to prioritize new business is clearly a risk (every retained account has its limits), but it can only fuel growth if it’s net positive. For that reason, focusing on a proactive client happiness agenda built on mutual respect is no longer a nice-to-have; it’s business-critical. Without it, agencies risk slipping into a churn cycle, constantly having to backfill lost clients. Investing in deeper, stronger client relationships just makes good business sense. Being a pleasure to work with goes a long way – it attracts the right kind of clients and then they stay. Happy partnerships last and will remain a central part of our 2026 plans.”

Kate Tancred, CEO, Untold Fable: “I put the sweet spot at around 75% retained and 25% project-based work. That balance gives you the stability to cover overheads and plan with confidence while still protecting the space you need for fresh momentum. The project portion is where new relationships start, where teams get variety and where you can trial ways of working that often convert into longer-term partnerships. Retainers provide the predictability every business needs, but an over-reliance on them can make teams inward-looking. A steady stream of new work introduces new categories, challenges and creative expectations, which ultimately strengthens the thinking and craft you bring back to existing clients. Heading into next year, this feels especially important: enough stability to operate with certainty, enough headroom to grow and enough diversity in the portfolio to keep teams motivated and evolving. This mix keeps the business both resilient and ambitious.”

Alicia Iveson, CEO, Hijinks: “At Hijinks, our growth this year has come largely from existing relationships. We’ve invested in our clients, in their priorities, in our ways of working together. We’ve supported our clients through uncertain times and, in doing so, we’ve grown our scope with each and every one. Since we launched two years ago this month, we have set our sights on growing sustainably and profitably, nurturing existing relationships while converting new ones. Neither one at the expense of the other. Of course, we’d all like to announce new wins every month, but sometimes the best wins come from within.”

Stephanie Tillinghast, vice-president, business development, Battery: “Agencies usually assign a fixed goal for retained clients, but the new business goal is simply however much else is needed to hit your total. It’s fluid, not fixed; new business is always-on. The real difference is whether the new biz chase is to make numbers, or to drive change for the agency by pursuing new industries, fresh exposure and the kinds of briefs that energize your teams. Don’t think of it as a balance between retained and new business. Instead, think of retained client growth as the necessary foundation for the freedom to chase new clients for the sake of newness.”

Jack Miller, CEO, True Independent Holdings: “As we look ahead to next year, our agencies have historically benchmarked at roughly 80% anchored in long-term relationships and 20% driven by new engagements. That mix keeps the coffers steady while ensuring we’re continuously evolving with the market. The sweet spot isn’t about choosing between growth and stability; it’s about building a portfolio that does both, sustainably.”

Gregor Hollerin, founder of Story Shop: “With GEO changing things fast, a lot of brands that’ve relied on SEO and paid will suddenly realize they need earned authority, so there’s a real opportunity on the horizon and I’d expect more project-led work coming through. The balance that works for us is a majority of deep, ongoing relationships, with a steady flow of new brands to challenge us, expand our reference points and to help us evolve.”

Hannah Baker, chief marketing officer, Brave Bison: There’s no magic ‘winning ratio.’ What matters is approaching every client, whether they’ve been with us for eight years or eight weeks, with the same curiosity, energy and drive for innovation. As we move toward 2026, our role as an advisory partner must deepen and broaden growth conversations. Depth means getting under the skin of a client’s marketing challenges and going deep into their business to build truly bespoke solutions to meatier, more complex challenges. Breadth means having the right people, processes, tech and tools to pull in additional specialist capabilities as their needs evolve. It’s the combination of these two modes of growth that allows us to continually capitalize on market complexity for both our clients and our own bottom line.”

Django Weisz Blanchetta, chief executive, Superheroes: “Our mission to ‘Save the World from Boring Advertising’ relies on the balance of retained and new business. Retained partnerships (which we are targeting for 60% of our 2026 revenue) are the foundation, providing the trust and runway needed for long-term earned-first brand building (two to three years). New business and new clients, targeted for 40%, bring the brave clients ready to shake up the industry. This stream ensures our creative output stays fresh, evolutionary and alive. This 60/40 mix ensures growth, financial stability and continuous creative momentum, allowing us to successfully deliver ideas that live in culture and stop the scroll.”

Jo Rigby, head of growth and marketing, Mediahub Worldwide: “We’ve spent the past two years only pitching for new logos. I give thanks daily to my colleague, Yasemin Worrall, for delivering that level of client satisfaction and organic growth. My gift back is that we have a highly filtered decision-making process for pitching that has our people at its heart. We’re a close leadership team and we’ve developed a strong instinct for what we’re capable of winning and what just isn’t right for us. Our people respect that we are choiceful and that creates its own positive energy for the pitches we do go for. We’re going into 2026 with a healthy pipeline to deliver our next level of momentum.”