If you are the owner of a digital marketing agency, the question you find yourself facing most often is “How can I grow my business?” The best ways to answer this question are ones that have proven effective time and time again.
Here are five ways to grow your business:
1. Start by fully mastering one niche and Outsource the grunting part
Starting a startup digital marketing agency can be difficult, but it’s definitely not impossible. If you’re just starting out, it might be a good idea to focus on one specific niche and become an expert in that area.
Picking a niche opens up other opportunities, such as speaking at industry-specific conferences. You can also think outside the box and pick a niche that is not on this list! For example, you can market yourself to a specific vertical like marketing for Shopify stores. Or, you can target any niche within the industry that has potential for growth.
Once you’ve mastered that niche, you can start branching out into other areas.
Digital marketing is all done online, so it’s perfect for outsourcing grunt work. Even if your employees don’t have to waste their time on menial tasks, you can still outsource them with freelancers or virtual assistants. Remember that digital marketing is a skill set that takes years to master and there are tons of individuals who would love the opportunity to help you out in this area of your business.
You can also use marketing automation tools designed for digital marketing agencies to improve the professionalism of your team’s work. All-in-one management systems, such as digital marketing software for agencies, will boost your company’s productivity and help it grow while saving lots of resources.
2. Improving your internal marketing & sales
Create a lead magnet for your agency site
Offering visitors a lead magnet of value can be one way to improve conversion rates. A lead magnet is anything you can offer website visitors in exchange for their contact information, such as an eBook or free PPC analysis tool.
Using creative lead magnets can help you collect business information and move visitors along the path to becoming leads. For example, an agency could offer a white paper on improving internal marketing and sales. The agency should offer a lead magnet to start the journey with prospects.
The lead magnet needs to be valuable and can take many forms, such as an eBook or free PPC analysis tool. Use the lead magnet well by providing value and initiating nurturing activities until leads are ready to commit. You may even want to consider developing different types of magnets for different stages of the buying process!
Walk the walk when it comes to web design
When it comes to web design, having a website that looks great is important, but it’s not the only thing that matters. You also need to make sure your website functions well and provides a good user experience. This means paying attention to things like page load times, how easy it is to find what you’re looking for, and whether or not the site is responsive on different devices.
Fortunately, there are some simple things you can do to improve your website’s usability. For example:
Use WordPress themes. They’re cheap and easy to use, and there are lots of them available online.
Make sure you have the right people in place to help scale your agency. This includes designers, developers, copywriters, and other professionals who can help take your business to the next level.
Reduce your lead response time
Leads are the lifeblood of any business, so it’s important to respond to them as quickly as possible. Studies have shown that companies which respond within 30 days are almost twice as likely to get a lead.
This is especially important for agencies, which often receive numerous leads each day. It’s essential to engage with potential clients and turn them into paying customers.
There are numerous ways in which you can reduce your response time, including:
Engaging with leads on social media platforms such as Twitter and LinkedIn;
Following up with leads via email or telephone;
Make sure you have a process in place for responding to leads quickly;
Automating lead responses where possible.
Set up outbound sales and fill the pipeline with leads
Sales is all about building relationships. However, in order to build those relationships, you need to have a steady stream of leads coming in. That’s where outbound sales funnels come in.
An outbound sales funnel allows your agency to produce a steady stream of leads for prospects. It’s not just for large agencies, but also small ones that don’t have any referrals yet.
There are four steps to setting up an outbound sales funnel:
1) Identify your target market
2) Research the companies within that market
3) Vet the leads before reaching out
4) Reach out and start building relationships
Build case studies from successful clients
When you’re looking to improve your internal marketing and sales, it’s important to showcase past successes. One way to do this is by having a library of case studies from happy clients. Case studies are detailed descriptions of your agency’s work with a client, highlighting the challenges faced and overcome, as well as the results achieved.
The objective of a case study is not simply to show how you helped someone succeed – it’s also vitally important to back up your claims with data. This will make your case studies more credible in the eyes of buyers, who are likely to be skeptical about any self-promotion.
Make sure you provide case studies in multiple formats depending on buyer personas; for example, if you know that decision-makers prefer infographics over long-form text, then be sure to produce them accordingly. And finally, don’t forget that one of the best ways to promote your case studies is by featuring them prominently on your website!
3. Build out recurring revenues over campaigns
Digital agencies have to constantly be on the lookout for new business opportunities. The answer, however, is not to focus on one-time campaigns but rather build recurring revenues. This allows you to bill clients monthly for a fixed set of services – for example, X number of blog posts per week, Y Facebook posts per day, etc.
Recurring revenue is the key to the success of SaaS businesses and it’s something that digital agencies should emulate if they want to remain profitable in the long term. It also allows an agency to be paid every month and lets them focus on other tasks like pitching new campaigns or building a thriving digital agency.
4. Enhancing your service offerings
Partner with other agencies
Partnerships with other companies can be rewarding for smaller projects. For example, you may not have the manpower or resources to take on a large project, but partnering with another agency can help split the work and get it done more efficiently. In addition, partnerships can help you access expertise without the risk of taking on a lot of work, or risk exposure to clients due to your lack of knowledge in that area.
When entering into a partnership arrangement, always make sure to put everything in writing first–including expectations and compensation terms. This will help avoid any misunderstandings down the road.
Another thing to consider when partnering with another agency is whether or not they are reputable and have a good track record. You don’t want your company’s name associated with any negative press or reports.
Think about alternative marketing channels
Digital agencies have a lot of options when it comes to marketing their clients’ services. As technology changes, new channels open up and others become more popular. It’s important for the agency to stay up to date on these trends and be prepared to offer them as part of their service offerings.
Some of the most popular alternative marketing channels include:
Snapchat advertising – This platform is growing in popularity, as it helps businesses reach consumers who are on the go or in specific markets that would otherwise be difficult to reach through other media channels.
Native advertising using StackAdapt or Outbrain – These platforms allow businesses to connect with audiences outside of their own social networks without sacrificing authenticity and value for the customer.
Influencer marketing – This type of marketing involves partnering with individuals who have a large following online and leveraging their influence to promote your product or service.
Offer corporate training
Many companies today are choosing to keep their marketing and design work in-house. This means that your company can offer corporate training to employees so they can better market your services on their own.
5. Find strategic partners to increase your growth
This can be a company that offers complementary services or it could be another digital marketing agency. You should never partner with an agency that directly competes with you, but this is a great way to expand your reach. You can also partner with a white-label service provider and grow your business by leveraging their skills.
Find a mentor who can help you grow your business. This is someone that has been in the digital marketing industry for a number of years and has experience with many facets of running a successful agency. They can offer you advice on how to make your business more profitable and give you tips for getting new clients.
6. Build relationships with clients and focus on referrals
Many businesses focus on acquiring new customers but don’t always think about the value of maintaining relationships with past clients. Here’s a tip – Try a reduced advertising service offering and focus on what they enjoyed most. They knew that if the offer didn’t work out, they could always revert back to previous services; but by focusing on what they do best, they were able to provide better service to their clients and increase referrals.
When it comes to getting new clients, agencies have two main sources: referrals and direct leads.
Referrals are the best source of new business for an agency. The reason is simple: people trust their friends more than they trust advertising.
Get referrals from clients by having a good relationship with them. If you focus on building strong relationships with your clients, they’ll be more likely to refer you to their friends – and even write about you on social media!
“At the end of the day, focus on the client. Everything else is noise.”
It’s important to remember that, at the end of the day, an agency exists to help its clients make more money. Everything else is noise. This means that agencies should focus on building relationships with their clients and providing a service that leads to referrals. It’s also important to remember that vanity metrics are useless if they don’t lead to a profit for the client. An agency can incentivize results by giving staff a commission on every appointment booked. Finally, agencies should focus on training their client employees to handle calls. This will result in happier clients and better service overall.
7. Don’t make yourself indispensable
When you’re the sole founder of your agency, there’s no one to share responsibilities with. This can be a good and bad thing – it’s good because you have more control over what happens in your business; however, it can also be bad because you may wear too many hats and not have enough time for everything.
High-quality candidates will help grow your agency effectively. They’ll come in with new ideas and strategies that can help push your business to the next level. And if they’re freelancers, they can take care of small tasks while in-house teams do the more important work.
Teams must work well together to make sure things run smoothly and efficiently with minimal mistakes or downtime.
These are the strategies that all businesses should consider when scaling up. By focusing on your clients and relationships, you’ll be able to delegate responsibilities and eventually step back from day-to-day operations.
Read Also: Essential Tools to Manage Your Digital Marketing Agency