The Drum Network has launched its latest industry research project which aims to identify how ambitious the UK’s independent agencies are being in their forecasts and projections for the year ahead.
Independent research consultancy Wild Heather Research is leading the project and is inviting independent agency owners across the UK to take part in the online research in order to give a picture of how the independent agency sector expects to grow during 2016, based on what has been achieved during 2015.
The survey will delve into all areas of agency growth and examine things such as typical rates of turnover and profit growth, how agencies plan to expand be it by increasing services or geographical locations, how active agencies are in recruiting new talent, how active agencies have been in generating new business through pitches and referrals, the ratio of retained work to project-based work and much more.
The Drum Network commissions regular research projects from Wild Heather Research to give members opportunities to benchmark themselves against similar businesses to themselves across salaries, fee structures and growth models.
Speaking of this latest research project Richard Draycott, managing director of The Drum Network, said: “This is the time of year that all agency management teams start to put plans in place for the year ahead, often based on what has been achieved so far this year. We always encourage our agency members to be as ambitious as possible during this process and believe that by giving agencies insights into how ambitious other agencies are being can help guide them and even give them to confidence to aim higher and plan bigger in the year ahead.
“The more people who take part in this research process the more robust and useful the findings will be for all agencies, so I would encourage all independent agency owners to set 15 minutes aside in the next day or so to respond to our questions and help us to give them a broad overview of the confidence that exists in the independent agency sector for the year ahead. In return, everyone who does contribute to this research will receive a copy of the findings, which they can use to inform their own plans for 2016.”
To take part in this research project simply click here.