BenchPress 2022 Live ??
Pete Heslop
MD @ Steadfast Collective // Bespoke Community Platforms for Growth // BIMA 100 // Speaker
On Thursday, I headed to London with a coffee, a book and my Laptop.
The reason for my visit? To meet with other agency owners to hear about the statistics in the latest BenchPress report.
BenchPress is a yearly report, now in its 10th year, which takes data from agencies across the UK to help take the temperature of the landscape.
I tweeted the event here;?https://twitter.com/Pwheslop/status/1507079391230189581?but here's what stuck out.
1) Agency confidence is higher than ever.
This one stood out to me. When asked how confident you feel about the year ahead out 100, the average score was 74. Aligned with this, 70% of agencies under ￡1m turnover grew their fee income in 2021, up from 49% in 2020.
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2) Agencies that measure more often are higher performing.
Statistically, those who measure statistics around their growth and profitability are higher performing. This makes sense, right? You can't build a business on last year's data.
3) What do agency owners think is most important...
Out of money, time, creating an asset and purpose, only 18% of owners listed money as the most important, with 29% giving purpose the top spot.
What I like about this is that during the report, it was noted that agencies 'who do good' get better results, and their owners earn more money than those who don't.
We changed our priorities recently, and we're in a better place because of it?https://pwheslop.com/it-s-time-to-reorder-our-business-goals
Peter Drucker - Profit for a company is like oxygen for a person. You're out of the game if you don't have enough of it. But if you think your life is about breathing, you're really missing something.
A big thank you to Wow for putting together?BenchPress. As an agency owner, it's a super important report and every year gives us something to think about.
Business benchmarking expert. Co-Founder at The Wow Company, The Agency Collective, The Consultancy Growth Network. On the board at Ecologi. Having a lot of fun.
2 年Thanks for sharing, Pete. That stat about measuring more is significant. The data shows that there's a 10% increase in operating profit available for those agencies that are good at this vs those that don't measure their key performance indicators very often. It's definitely worth putting the effort in to get this right.
I help agencies sell more. Plus, I'm quite funny...
2 年I think I ate three of those just while I was sat next to you