Second Wind Releases New 2007 Annual Agency Survey Report
Submitted by: Second Wind
2007-12-22 00:14:58
Second Wind recently released their new 2007 Annual Agency Survey Report. Each year, Second Wind surveys its members on a wide range of topics from sales figures and growth income, to operating expenses and salaries. The Second Wind Annual Agency Survey is based on responses from 199 Second Wind member agencies in October 2007.
Wyomissing,PA (OPENPRESS) December 22, 2007 -- This year's survey shows positive incremental changes from the previous year's survey results. On the up side, smaller and midsize agencies and design firms continue to wring more dollars from accounts by cutting direct costs. Second Wind COO, Laurie Mikes states: "Agency billings are up slightly this year from last years survey, and total agency gross income (AGI) increased by over 4%." These firms are also offering slight increases in salaries and bonuses. The down side, however, is that financial growth remains modest at best, mirroring the rest of the economy.
Total agency direct costs showed a marked decrease from the 2006 survey year. Mikes continues "The agencies we surveyed are doing a wonderful job of cost containment in this near-inflationary environment." With the exception of account service, internet, photography and PR, costs decreased across the board. We also saw improved margins on costs in most categories— most of them incremental, but some outstanding—especially with regard to internet and printing margins.
A large number of surveyed agencies increased staff, and over 60% of agencies are planning to hire more employees in 2007-2008. Creative and account service personnel are in high demand, and an increasing number of agencies will seek interactive/internet staff. In contrast, fewer agencies are planning to hire public relations personnel.
The survey also revealed some interesting salary trends. Although national average base salaries were slightly higher overall for most full-time positions, salaries for a few positions rose more dramatically. Creative director salaries rose over 7% on average, and web developer/ programmer salaries rose almost 15% on average. We also saw upward adjustments in human resources, accounting and finance, and account management.
The 2007 survey covers some new ground, now listing hourly rates for newer job functions including Strategic Planning and Mar-Com Planning. For all agency functions except estimating, proofreading and administrative/clerical, hourly rates continue to average $100 or higher. Only two areas showed a slight decline in hourly rate: public relations and media planning/buying.
Client need for new media/internet services continues to grow rapidly, and in response, agencies are growing their own in-house new media groups. These departments primarily provided website development and website management services. In addition, some of the fastest growing new media areas are now SEO/SEM, blogs, podcasting/vodcasting, and viral marketing. "New media is one area that continues to grow and expand, and smart agencies will to continue to focus on this key area in the future."
Second Wind is a powerful information resource designed with one thing in mind - helping smaller and midsize advertising agencies, design firms and related businesses to "be better." Second Wind is a member-based organization, with over 800 member agencies across the USA, Canada and several other nations. Second Wind surveys its members annually on topics including financial/accounting, payroll/employee benefits, operations, technology, new business and planning.
In addition to annual surveys, seminar and workshop opportunities, members of Second Wind benefit from daily access to critically needed business research and creative information programs. Second Wind is one of the world's leading trainers of advertising professionals and sells training materials and publications through its online store at www.secondwindonline.com. A major resource is Second Wind Online, with its high-powered, data-rich Knowledge Base, and a popular members-only Forum.
For more details on Second Wind's 2007 Annual Agency Survey Report or other Second Wind offerings, call 610-374-9093, email to info@secondwindonline.com; or visit the website at www.secondwindonline.com.
Second Wind Contact: Laurie Mikes
laurie@secondwindonline.com
Second Wind Ltd.
P.O. Box 6284, 1424 Penn Avenue
Wyomissing, PA 19610-0284 www.secondwindonline.com
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