Mailchimp & co Benchmark Report summarizes the results of a global survey, with more than 2.000 respondents from 44 different countries; there are actually two reports, one for agencies and one for freelancers, and both can be downloaded here.
I’ve read both the Freelancers and Agencies versions of the report, and I’ve been appalled by the revenue gap between freelancers and agency owners and the low level of average freelancers’ income. Two considerations:
I’ve asked fellow colleagues what’s their one takeaway from the report: what made then go “wow” or has made them revisit something in their own agency, place of work, or freelance business?
The Mailchimp 2021 Benchmark Report includes a ridiculous amount of data, so if you haven’t reviewed it yet, go and download it here. The most surprising stats for me were around 2020 data, and how COVID didn’t lead to negative results for most agencies. 74% made a profit, 17% broke even, and only 9% showed a loss. I’m also surprised to find that 59% of new business comes from some sort of referral and only 2% comes from online advertising, which is less than content marketing, SEO and several social channels.
Adam Q. Holden-Bache
Director of Email Marketing Enventys Partners
Generally, I think the best thing that came away from it, is that despite COVID, agency owners felt positive about the future, and we’re actively looking to grow. 50% saw revenue increase in 2020, with 23% said it was their best year yet, and only 4% saying it was their toughest.
Doug Dennison
More specifically, I found the part around pricing very helpful. As an agency owner it’s sometimes hard to know if you are striking the right balance with your pricing, so to learn what others are charging and how is super useful.
CEO & Co-founder MailNinja
It was reassuring to see that the many agencies have prospered over the last year, despite the changing conditions…. industry growth lifts all ships. The difference between freelances and agencies in terms of compensation was an eye opener… and something many freelancers should be paying attention to.
Robin Adams
Owner and Founder ChimpAnswers
The average price point of a Freelance Mailchimp expert/partner. It’s only $75 US! Why would anyone stress about sending out emails when it’s so reasonable to hire someone to do it for you. Now to get the word out! And that made me a little sad. I save 26 cents of every dollar I earn to pay my quarterly taxes. So that means I only keep $55.50 even though I charge more. I work about 12 hours every day, and I work hard every day. I don’t see how I’ll get ahead and retire when the time comes.
Amy Hall
Email Marketing Strategist and Certified Mailchimp Partner and Consultant Amy Hall
Mailchimp’s 2021 benchmark report really made me feel comfortable in my business today, especially when it came to pricing our work whether project-based or hourly. I often teach my community to really charge what they’re worth vs. what they think people will pay for and this report really showcased that.
Sequoia Mulgrave
CEO and founder DailyMode Studio
The stats on agency owners salaries were really helpful to see. While many can have 6 and 7 figure businesses. the actual take home for the Founder/Co-founder is typically under 100K. Many of us have sub-contractors and a team to pay and of course all the expenses that come with running your own business. While it can be a very lucrative business for some agencies, I don’t think most of us are in this work to be millionaires. However, the benchmark report has been helpul in showing me that I can and should raise our prices!
Emily Ryan
Co-Founder and Email Strategist Westfield Creative
I found the stat for agency owner gender a little surprising. While I’ve always known that more agency owners are male (based on years of attendance at industry events as well as surveys), I was a bit surprised that see Mailchimp’s partners skew 40% female. I think that’s actually a higher percentage than in other areas of our industry, e.g. agencies that focus on on web development or SEO.
MaryAnn Pfeiffer
I’d like think that this is because of the inclusive environment that Mailchimp creates for partners and how they foster female-led agencies, but it’s more probably likely due to the communications-focused business of email, as opposed to the greater tech-focus in other niches. Communications is an area where there is historically a better balance between the genders in our industry.
This makes me want to lean in more to the message about my agency being both women-owned and women-led (all leadership roles in my company are female), and emphasize our technical prowess, as I feel there is a real need for the next generation of women to see that there is ample opportunity for them to succeed and lead in this space.
Digital Marketing Strategist 108 Degrees Digital Marketing
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Alessandra Farabegoli