The BenchPress 2018 survey of UK independent agencies is now open to online responses.
Launched six years ago by specialist accounting firm The Wow Company, BenchPress has grown to become the largest annual poll of independent agency owners in the UK.
Peter Czapp, co-founder of The Wow Company, urged agencies of all shapes, sizes, locations and sectors to participate, saying: “Those who complete the survey will be the first to receive the results and the final report, so it’s an excellent opportunity for agency owners to benchmark their performance and experiences against those their peers.
“It’s fantastic to see how much BenchPress has grown over the last six years. It started with the aim of being able to take an accurate snapshot of agency life in the UK and to share insight and analysis with ambitious agency owners. With the previous six years worth of data to draw on, we’re now able to analyse trends, make predictions and share what the UK’s top-performing agencies are doing differently to the rest.”
Last year saw one of the highest levels of confidence among agencies since the survey began. Over half of agencies planned to increase prices in 2017. The average hourly rate was £86 per hour, and there was a reduction in agencies charging £50 per hour or less. In twelve months, the figure had dropped from 11% of agencies to just 3%.
Brexit was also a key theme of last year’s survey, with 84% of agency owners admitting to opposing the UK’s departure from the European Union. At the time, more than half (52%) were yet to notice any knock-on effect on their businesses. This year’s survey will explore in more detail what the impact has been on agencies since the divisive result.
This year’s survey will also lift the lid on agencies’ pricing strategies and uncover the split between retainers and projects, including the average size of each. Agencies’ current and future use of Artificial Intelligence will also be in the spotlight.
Agency owners can take the survey here.