5 Secrets to Marketing Agency Longevity & Success
Agency business has a massive demand, but an enormously high agency failure rate keeps jolting the business world.
There can be many culprits behind it, such as increasing competition, difficulty finding the right workforce, lack of tools, lack of proper strategy and processes, and vague goals.
Sometimes agency owners might be shooting in their feet when they don’t have structured processes, robust customer support, and smooth communication. But, these days, external factors such as financial downturns and increasing competition can also spoil the game.
Whatever the case, there is a workaround for it.
This article shares five agency growth secrets for running an agency business successfully.
1. Put Customers First
After the 2008 recession, the worst economic downturn since the Great Depression of the 1930s, approximately 170,000 small businesses went bankrupt. But Ruby Receptionists, the virtual receptionist service, survived it.
It could be possible because Jill Nelson, the company’s founder, focused on providing extraordinary customer service.
He wanted to establish his company as a trusted partner for businesses in their darkest hour. Business owners faced overwhelming challenges during the crisis, but Ruby sparked hope among them and offered its services as a generous and optimistic human voice guiding their customers.
Ruby not only survived but grew by 15%.
Pro Tip: Offer exceptional customer service and put your customer first. It becomes even more important during tough times such as economic downturns. If needed, go the extra mile to help them.
Image Source: Lexer
2. Focus On Your Core Competencies
David Sardinha, the ex-COO of The Marketing Machine (TMM), an agency based in North Carolina, focused on his core competency of creativity and design during the 2020 COVID-19 pandemic. He had to move his office to another location while his team was working from home. He lost many of his clients, but he discovered new opportunities amidst this darkness and chaos.
This time the opportunity came in the form of a restaurant, “Margaux’s,” an ex-customer of TMM.
Some of his previous clients came back to change how they did business in those tough times. The only mantra for businesses to succeed in those tough times was to show their customers that the service providers were still there with them.
Image Source: SuperOffice
Repositioning brands was the best option at the time.
TMM focused on their core competency, i.e., creative designs, to help their client, Margaux’s, to reposition their business as a takeout restaurant during the pandemic.
The transformation was not easy.
But it helped them establish themselves as a brand that stood with its customers in extremely tough times, making many loyal customers for TMM.
3. Offer Helpful Resources and Tailored Guidance
B2B businesses act differently than their B2C counterparts. So customer relationship should be their top priority. The best B2B businesses act as consultants rather than retailers or product sellers. They are available at every step of the way for support and guidance, helping their clients achieve their goals.
It includes offering resources and providing tailored guidance.
So, a sale is not the ultimate objective for an agency business. It is actually the beginning of a long journey; you grow with your customers.
This is a crucial step in client retention.
Ask for their feedback and provide value. Be their savior and help them achieve their objectives. The most memorable companies are those that try to become a part of their clients’ growth stories.
Pro Tip: You can use DashClicks’ project management software to efficiently manage your project. It allows you to track processes and intervene if something goes wrong. It also enables you to finish the project on time and with the right resource allocation.
4. Differentiate Yourself From the Crowd
Every agency claims to be unique, so it sounds more like a cliche. The best agencies successfully differentiate themselves from the competition.
It requires creativity and innovation.
Businesses should have a reason to choose you over others.
Pro Tip: Find your unique selling proposition (USP) and promote it aggressively on the web, including your website and social media. Mention the facts and data to support it.
Image Source: Planium Pro
5. Hire the Best Employees and Put Them First
According to a Marketing Land study, hiring was a big challenge for 44% of the respondents, mostly agency owners.
The ideal employees are the most passionate, not those with the most experience. Agencies are already struggling with a high attrition rate. You won’t find people sticking with one agency for a long time.
Extremely high pressure, burnout, and working with dozens of clients are the prime reasons for it.
So hiring and retaining the best people is always a challenge for agencies.
However, if you have the best processes and put your employees first, you can retain them for a long time.
Pro Tip: You should be transparent during the hiring process and honestly disclose your expectations. This way, you are more likely to find the right people for your agency.
Pro Tip: Allocate work evenly in the team, and don’t overload your employees. Don’t accept a new project if you don’t have the bandwidth. You can hire DashClicks’ white-label fulfillment services to scale your agency if you don’t have sufficient bandwidth and expertise.
Pushing your employees beyond their limits is a sure way to attract attrition. Allow them to use their creativity, and don’t blame them if something goes off course. Instead, try to find the reasons, so it never happens again.
Pro Tip: Avoid micromanagement and give your employees complete ownership of what they do. Be generous with support and guidance and set the right expectations.
Last but not least, empower your staffers and outsource if necessary. Be lean, thin, and agile. Do your best to stay relevant in the dynamic digital landscape. Respect new ideas and use the best tools. For best results, work with a project management software program and other automation tools. It improves efficiency in your agency and saves time.
The key to success is to specialize in some industries and aggressively market your agency as a specialist in that particular vertical. Improve communication within your organization and with your customers, and keep everything transparent. You can also assign a specific team member to communicate with your client.