by Admin, June 30 2021
Starting a digital marketing agency is one thing, but growing it is a whole different ball game. Marketing agencies that have reached an all-time high did so by following strategic success mantras. This is born from making smart decisions and sheer hard work.
So, how can you grow your marketing agency and increase its profit? First you need to carefully plan and always lookout for modern trends of doing business.
If the number of network connections you have made until today only fit your hands, it is time to double the effort you have been putting in. Connecting with people is one of the most important and easiest ways to grow your agency. When you have many connections, they eventually refer you to their connections and this could eventually convert to a handshake with a new client. When growing your network, start local. This is because you and the local businesses have common ground and will thus be easy for you to introduce your business to them.
A common mistake among marketing agencies is failing to market themselves. It is nearly impossible to grow a brand when potential clients don’t even know you exist. This is why setting time and finances aside for outbound and inbound marketing is important. This will generate leads for your agency.
Giving the correct value for your time and services is always a sure-bet. Some agencies aren't succeeding because they aren't charging enough while others charge too high. The best way to know the right price is to find out what the main competitors are charging. If their average rate can cover your agency's expenses and still leave some profit for you, then its implementation is worth considering.
If your digital marketing agency is a startup, theirs is a likelihood that you take care of everything yourself. While it is your job to give great results, there is no need to carry the burden solo. Outsource for skills and services that especially require experts from companies like trulink.io who provide copywriting for websites. Keep outsourcing skills until you are financially capable of getting in-house talents for those same jobs.
Building your agency's network is not just for getting new clients. It is also a great way to reach different influencers and partner with them. You can do this by hosting Facebook live and webinars, request they be affiliate partners, and be a guest writer on their sites.
Upselling clients who have bought projects from you once is as important as getting new ones. When you upsell, you get access to other revenue streams and at the same time, give additional value to your clients.
Growing your marketing agency does not come with a one-size-fits-all manual. It is possible to get to that seven-digit revenue. How you get there is solely up to you and the time and resources you put in.