Wix Studio & Agency Hackers Unveil Agency Forecast Report
Website building platform Wix and one of the largest communities for independent agencies worldwide, Agency Hackers, surveyed over 80 agency leaders worldwide. The Agency Forecast Report covers key trends, challenges, and opportunities in the agency landscape and offers actionable tips and strategies to navigate this dynamic market.
Respondents reported an average confidence level of 6.6 out of 10. More than a third of the agencies rated their confidence score as 7 or higher, while 15% rated it as 5 or lower.
Key negative trends include clients wanting more for less, taking longer to commit to a contract, and preferring shorter engagements. Even after committing, client behavior is more unpredictable than ever, contributing to client loss as another hurdle for agencies.
Agencies also struggle to keep up with the rapidly evolving technological advancements amid the AI revolution. “It’s a never-ending battle,” one respondent said. Most agree that integrating new technologies has been more complex, time-consuming, and costly than initially anticipated.
Based on Wix’s expertise in cutting-edge digital solutions and experience working with agencies, the company offered solutions to the agencies’ most pressing issues.
These include “choosing a platform that supports integrations and has seamless workflows built into every step.” Additionally, Wix suggests hiring “curious people with foundational skills in multiple areas.” It also suggests working with freelancers to fill skill gaps and better manage unpredictable demand.
Wix Studio aids frictionless AI adoption with “AI tools that transform how teams work,” including an AI text and image creator, AI Code Assistant, AI SEO toolkit, and more. Wix suggests utilizing AI tools to help “scale the output and quality of entire teams” and “drive more revenue without further increasing headcount.”
Regarding positive trends, agencies report stronger client relationships, increased adaptation and innovation, improved contractual terms, and more growth opportunities thanks to AI.
Despite the economic challenges, 42% reported revenue growth in the past six months. Interestingly, diversifying has been the pathway for growth for some agencies, while others have found stability in niching into specific industries or services. Overall, 62% of the respondents are exploring new markets or niche offerings.
Based on the results, Wix Studio expects to see the following trends in the agency industry in the coming months: an increased openness to adopting new software tools, outsourcing talent for smoother scaling, a greater focus on employee well-being, and creating passive income by selling design assets.
