2X Exits | Helping Agency Founders 2X Revenue + Exit the Day-to-Day | National Speaker | Business With A Mission | Husband & Dad
3 must-have ingredients of Digital Agencies that are scaling in 2024 One might be obvious, one might surprise you, and one might shock you. #1 ROI (Return On Investment) This might seem obvious, but getting an ROI for your clients is the foundation of any agency. It is the primary reason a brand hires an agency in the first place. The brand is willing to spend money on marketing if they will get a return on their investment in the future. Gone are the days when brands were patient with bumps in awareness, increases in engagement, and a big cloud of dust created by your agency's marketing activity. Remember, your clients don't want to buy your marketing; they want to buy what your marketing can do for them! If you're going to scale your agency in 2024, you must deliver an ROI. #2 Be A Specialist This one might surprise you. The days of agencies trying to be everything to everybody (aka a generalist) are over. We are in an era where specialists eat first (and often) and generalists starve. Why is this true? As consumers, when we have a problem, we are used to pulling out our smartphones, researching options online, and finding the best solution for our situation (aka Google it). Here's an example. If you blow out your knee while playing softball over the weekend, do you call your family physician or look up the best sports medicine doctor specializing in knee injuries and call them first? Most everyone will call the specialist. Specialists in any field are in much higher demand and make a lot more money than generalists (including digital marketing agencies). This effect is magnified even more during economic downturns and times of market disruption. Generalist agencies suffer, and specialist agencies scale. #3 Have An Irresistible Offer This one may shock you. If you're going to scale your agency in 2024, your initial offer must be so irresistible that your prospect would be foolish to say no! You might say, "Come on, this may be true in eComm or info product marketing, but does it really apply to services like digital agencies?" My one-word answer: YES Especially if you want to grow behind referrals. To everyone else, your premium-priced, 12-month retainer will likely be perceived as too risky (even with a track record of getting excellent results). It may be great for you, but it may seem risky for them. In this case, give them an offer that will get them a quick win in 30 days or less. It's an easy YES, and after you deliver a quick win, they'll likely upgrade to your 12-month retainer. Do these 4 things well, and you’ll have a great life (at least a great agency life:) Trust me Share this if this is helpful for you:)
