I analyzed 100 digital agencies by looking only at their testimonials and here’s what I found

I went down a rabbit hole this week.

Instead of reading what agencies say, I looked at what they show:

• testimonials

• client logos

• case studies

All public data.
So I manually analyzed ~100 digital agencies and mapped who they’ve worked with.

Here are a few things that surprised me:

1. The same companies show up everywhere

I expected each agency to have totally different clients.

Not true.

The same companies appear across multiple agencies.

Which probably means:

• they switch providers

• or they work with multiple at the same time

→ If a company is already hiring agencies, they’re very likely to hire again.

2. Testimonials are basically qualified leads

Most testimonials include:

• company name

• job title

• what problem was solved

That’s more context than most cold outreach lists.

3. Niches are smaller than they look

In SaaS, fintech, e-commerce…

You start seeing the same 30–50 companies over and over again.

It’s almost like each niche has its own “client pool”.

4. This data is hiding in plain sight

Every agency publishes it.

But it’s:

• not structured

• not searchable

• not really used for anything beyond marketing