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Agency Hackers and Wix Studio Unveil Agency Forecast Report

News Provided by PR Newswire2024-10-02

Agency Hackers and Wix Studio Unveil Agency Forecast Report

[02-October-2024]

The inaugural report reveals key trends and challenges in the evolving agency landscape

LONDON, Oct. 2, 2024 /PRNewswire/ -- Wix.com Ltd. (NASDAQ: WIX), the leading SaaS website builder platform globally¹, in collaboration with Agency Hackers, one of the world's largest communities for independent agencies, today releases the Agency Forecast Report. This report dives into the current state of the agency world, spotlighting key trends, emerging challenges, and new opportunities shaping the marketing industry.

Drawing on Agency Hackers' vast network and Wix Studio's expertise in cutting-edge digital solutions, the report features insights from over 80 agency leaders worldwide. Among those surveyed, confidence levels averaged a solid 6.6 out of 10, reflecting resilience and a positive outlook in today's dynamic business environment. The report also provides actionable tips and highlights the key strategies agencies are identifying to navigate a rapidly evolving market. Other key findings from the Agency Forecast Report include:

72% cite talent acquisition and retention as a significant challenge, particularly in tech roles.
62% are exploring new market opportunities or niche offerings.
55% report a rise in client demand for shorter contracts or project-based work.
75% plan to increase investment in their own marketing efforts.
55% are focused on strengthening existing client relationships as a primary growth strategy.
42% of agencies saw revenue growth in the last six months.

"Agencies today are navigating a landscape that demands adaptability, creativity, and strategic foresight, and this report explores how leaders are finding their footing in this fast-paced, ever-changing landscape," said Kobi Gamliel, Head of Agency Growth at Wix Studio. "Identifying future trends is vital for an agency's success, and at Wix Studio we're helping them to stay ahead of the curve by innovating new products that not only help agencies keep pace with industry changes, but also elevate the quality and efficiency of their output. We're proud to partner on this report with Agency Hackers and to continue supporting agency leaders as they chart their path forward."

Agency Hackers, founded in 2017, connects a diverse mix of marketing agencies specialising in digital, web development, branding and design, business transformation, communications, and more.

Agency Hackers Founder, Ian Harris said: "The agency world is facing real challenges, but it is, as always, remaining resilient in a turbulent marketplace. What especially stands out in our inaugural Agency Forecast Report is how independent agencies, especially within the Agency Hackers community, are adapting.

"From navigating client demands to exploring new markets and embracing AI, agencies are finding practical ways to stay competitive and future proof their businesses. While the uncertainty isn't going away, what's clear is that agencies are evolving to meet it head-on."

The Agency Forecast Report is available for download here.

About Wix.com Ltd.
Wix is the leading SaaS website builder platform globally¹ to create, manage and grow a digital presence. What began as a website builder in 2006 is now a complete platform providing users with enterprise-grade performance, security and a reliable infrastructure. Offering a wide range of commerce and business solutions, advanced SEO and marketing tools, Wix enables users to take full ownership of their brand, their data and their relationships with their customers. With a focus on continuous innovation and delivery of new features and products, anyone can build a powerful digital presence to fulfill their dreams on Wix.

For more about Wix, please visit our Press Room
Media Relations Contact: PR@wix.com

About Agency Hackers
Agency Hackers is one of the world's largest communities for independent agencies. Founded in 2017, we bring together a diverse mix of marketing agencies specialising in digital, web development, branding and design, business transformation, communications, and more. Our members are typically independent agencies with revenues between £1m-£6m and headcounts of 20-60 employees. Agency Hackers is 100% independent and committed to supporting the growth and success of all independent agencies across the UK. For more information on Agency Hackers visit www.agencyhackers.com

For media enquiries about Agency Hackers please contact Sarah Jackson, sarah@sundazepr.com +44 (0)7306 256 148

¹ Based on number of active live sites as reported by competitors' figures, independent third-party data and internal data as of H1 2024.