Over the past couple of months, over 300 agencies across the UK have been taking part in Wow’s annual Agency Survey. We are delighted to be able to share the report with you, which has been finalised and published this morning.
Here is a taster of some of the findings:
Of the 347 agencies who took part in the survey, the majority (35%) are expecting to grow by around 11-25% this year, while a further 24% are expecting growth of between 26 and 50%. It was also found that 33% of agencies are more than doubling their turnover every 3 years, which is equivalent to an annual growth rate of 26%. These statistics highlight the growing confidence within the sector and indicate that the future is positive!
This year, the hot topic questions for the survey were based pitching. Do you pitch? What do you charge for pitching? What’s your conversion success rate?
Another interesting section in the report focuses on projects. When asked what their minimum value of a project is, 52% responded to reveal that they would not work on projects that are less than £5,000. The majority (26%) would stick to a minimum of between £5,001 and £10,000, while just 2% only consider those above the £75,000 mark.
As well as this, the report looks into how you can utilise technology to improve cash flow in an ever-growing digitally-connected world, and how you can create your own personalised dashboard. To download the full report, click here.
If you’re looking for further information, co-founder of The Wow Company, Peter Czapp, will be hosting a webinar on Friday 20th May for the inside track on the results from the survey, including additional benchmark data not yet published. You can book your place here.