Almost every agency owner I meet will, sooner or later, ask the question “how does this compare with other agencies?” They could be talking about any number of measures; marketing investment, pitch conversion rate, client retention, or new business resourcing to name just a few. And I understand why this question is important. Running an agency is not just hard work, even with the best laid plans, it can be unpredictable. Clients, budgets, the economy, technology, opportunities, skills, services, resources are all shifting all of the time, and amid all that change, it can be hard to measure success without context.
One of the resources I will often reference in response to this question is the Benchpress Report published by The Wow Company. I invited Peter Czapp, co-founder of The Wow Company and The Agency Collective, to join me for this episode of Small Spark Theory to discuss his findings from the current report, and to dig a little deeper into the trends and correlations behind the wealth data collected over 7 years of agency benchmarking.
We’ll be sending one lucky listener a copy of Peter’s recommended read, the ever popular With Without Pitching Manifesto by Blair Enns, simply listen in to find out how to win.
You can find out more about the Benchpress statistics on cash flow, new business, and how agency owners spend their time here and statistics on pricing, profit, and the impact of artificial intelligence on agencies here. You can also access Peter’s webinar sharing the latest benchmarking trends for agencies.