Croatian Q Agency Enjoys 840% Growth in Five Year Period

By 2 February 2023

February the 2nd, 2023 - The Croatian Q agency can rightfully boast of its success, having enjoyed very impressive growth of 840 percent in just five years. Things aren't going to slow down there, however, with further plans in the works.

As Poslovni Dnevnik/Josipa Ban writes, the Croatian Q agency, one of the largest domestic digital agencies currently present on the market, achieved some extremely impressive business results last year.

Their revenues grew by 44 percent to around 19 million euros (144 million kuna). Such average growth has been achieved by the Zagreb agency for the last five years now, more precisely since 2017, when they were founded, and when they amounted to ''only'' 15 million kuna. As such, the Croatian Q agency grew by 840 percent in just five years.

BBC, Nestle, Pfizer...

Next year, Filip Ljubic, the co-founder and executive director at Q revealed more at the company's first gathering with journalists. He announced that they're expecting revenue growth of 40 percent, but that will all depend on the state of the market, which is currently very turbulent and whose tremors the company is already feeling.

"We feel that it's now much more difficult. Just the other day, completely unexpectedly, a client from London cancelled their cooperation with us. We now have the same situation we had at the time of the outbreak of the coronavirus pandemic, when we had to work a lot more, have a lot more meetings and travel more in order to be able to arrange a job. Now we're in such a situation again, and we had to hire three new people for sales,'' explained Ljubic.

Despite the extra work involved, it's certainly not difficult for the Croatian Q agency to roll up their sleeves, because if it was difficult for them, they simply wouldn't have been able to create a list of clients like The Times, Coca Cola, BBC, Manpower, Vodafone, Novartis, Nestle and Pfizer in just five years. Those are just some of the 40 or so clients who use the services of this Zagreb-based agency for the development and design of their various mobile and web applications (apps).

Some other interesting names also joined in the last year, and the Croatian Q agency also entered the Middle Eastern market. "When the war in Ukraine broke out and the energy crisis began, we thought about which markets we'd be safest on. The decision fell on the Middle East because there certainly won't be an energy crisis there. On top of that, they operate with a strong dollar, and these are potent markets that are growing strongly," revealed the executive director of the company, which has two clients there - Takamol and Al Salam.

On that market, said Goran Kovacevic, Q's finance director, their monthly income is around 300 thousand euros, and in addition to conquering new markets, last year Q acquired the agency Flipkod, thus increasing their number of employees to more than 350.

Along with the satisfaction of their long list of clients, the satisfaction of their employees is the most important thing for the agency, which, in addition to Zagreb, has four other offices - in Belgrade, London, Zurich and the Philippines. "Our philosophy is that when employees and clients are satisfied, no matter what crisis comes, everything somehow works out," said the co-founder of Q, an agency that has been awarded the best employer for three years in a row now.

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