How To Grow Your Digital Marketing Agency (…My Top 7 Strategies)

How To Grow Your Digital Marketing Agency (…My Top 7 Strategies)


– As a digital marketing agency owner, I know all about the
pains and frustrations of wanting to grow your agency but just not knowing
the best way to do it, which is why in this video, I want to cover my top seven strategies that I’ve used over the
years to massively grow my revenue, my profit, my customer base and build the agency of my dreams so you can do the same. Alright, let’s get to it. (lively music) Hey there, my name is Adam Erhart, modern marketing strategist, and welcome to The Modern Marketing Show where we help you make
marketing that matters. So, if you’re interested in learning about the latest and greatest
marketing strategies, tools, tips, tricks, and tactics, well, you may want to consider subscribing and hitting that notification bell. Alright, so, if you’re here now, it’s because you want to grow
your digital marketing agency which I first have to commend you on because wanting to grow your
agency is a very noble pursuit. The more you grow, the more people you’re
going to be able to serve, and the more people you serve well, the more they’re going to
be able to serve in turn. And thus, we fuel the business, we fuel capitalism, and we make the world a better place. Now before we dive into the tips, real quick on my history
just so you know who I am and why I’m qualified to talk about this, I’ve had a digital
marketing agency for years, I started way back in the
day by offering things like web design and social media. Over the years, that evolved into SEO and a
lot of search engine marketing and then that evolved even
further to where we are now which really focuses on online advertising like Facebook ads,
Instagram ads, YouTube ads, and Google ads. And that essentially
is where we’re at now. Now, when I first started
the business years ago it was a very, very sketchy start, as I’m sure you can remember when you first started your agency. In fact, for the first few months, I was making almost no revenue and it was only when I
put my foot in the ground? Flag in the ground? Foot in the sand? Drew a line in the sand? Whatever. It was only when I drew a line in the sand and said this is the point
where I’m going to make it or I’m essentially going to quit, give up, and go back and get a job again, well that’s when things really took off because I was willing to do the things that I’d been previously unwilling to do and that’s really what we’re
really gonna be focusing on here is essentially
leveraging the things that most of your competitors
aren’t willing to do, which is gonna give you a leg up and allow you to really just
blast them out of the water. So with that said, this first tip is gonna sound
a little counterintuitive. After all, if your goal is to
grow and scale your agency, why would you want to do the unscalable? Well, essentially the unscalable
things are often the ones that have the most traction, especially when you’re trying to grow and really hit that next level. After all, there’s no substitute for face to face conversation. Now, this is a mistake that
I made a few years ago. As my agency started to explode, I started to move further and further away from those personal relationships and those face to face conversations. In turn, the business kind
of ended up plateauing, and it was only when I
started to recommit myself as the agency owner to doing
those unscalable things like meeting clients in
person, following up, doing a lot of really
personal interaction. Well, that’s when things took off again because my clients started
to really understand that I truly, genuinely cared about them and about their success and I
was willing to do the things that others were not. This next tip, I’m sure
you’ve heard before, but it’s the 80/20 rule
or Pareto principle, and we need to apply the 80/20 principle to your entire business. Now, if you’re not familiar
with the Pareto principle, really quick, it
essentially states that 80% of your results are gonna
come from 20% of your efforts. And again, 80% of your revenue, probably gonna come from
around 20% of your clients. If you offer multiple services, 80% of those are gonna account
for only 20% of your revenue and 20% of those services
are gonna account for 80% of your overall revenue. So, again, looking at things holistically, when you map everything out, let’s say you’re offering
five different services, odds are pretty good
it’s gonna be one or two that are providing the
most bang for your buck. Again, when you line
out all of your clients, it’s probably going to be
those top 20%, top 30%, that are going to account
for most of your revenue. So what does this mean? Well, when you look at all these things, it’s going to allow you
to identify those services that are actually profitable and really driving your business forward and the ones that you
can probably let go of. Same things with your clients. When you really look at them, it’s going to allow you
to pinpoint the ones that are providing the most revenue, so you can not only do
a better job for them, but you can find the
traits that are similar between them all and go out and get more clients just like them. This next tip is one I’ve fallen victim to countless times before and essentially what you want to do here is give them what they
want, not what you want. Even though you are the
digital marketing expert, you know the business inside and out, you know what’s probably best for them, they may come to you looking for something completely different. Now, it is obviously going to be wise and ethical and honorable and authentic to end up giving them
what they need in the end, but at the beginning, if they say they need just
social media management, you’re best to approach that
conversation and the client that way and then pitch
them on the other things that they really should
be doing after that. So, it’s really hard to
sell someone something that they don’t want or
don’t think they need. It’s a lot easier to
give them what they want and then convince them
afterwards by showing them what you’ve done for them but
how it could be so much better and really that’s the way that you want to approach this direction. When it comes to running a
digital marketing agency, there’s a number of different
things that go into it. There’s obviously the sales,
there’s the marketing, there’s the fulfillment or the operations of the client work, there’s the finance side, and then there’s all of the
other areas that go into it like the mindset and the team building and the leadership and the management, all that other stuff. Well, you as the digital
marketing agency owner, you’ve got a very unique skillset and essentially you want to stay operating in your zone of genius. Maybe this is actually doing
fulfillment for clients or maybe it’s getting on the
phone and signing up clients or maybe it’s just
designing all the marketing behind the scenes and letting someone else handle the sales and
operations of the business. Whatever it is, the better
that you’re able to identify and really articulate what you do best, the better you’re gonna be
able to get everything else off your plate which means
you’re gonna have less stress, you’re gonna have more time, and your client results
are gonna skyrocket because you’re gonna be
doing what you’re doing best and other people are
going to be able to focus on doing what they do best. Win-win, all around. The next tip that we
have to cover if you want to grow your digital
marketing agency is that you do in fact need to niche down. I know you’ve heard this before, so before you skip the video
and completely write it off, there is some merit to this, but I want to put in a few caveats. I know you’ve heard that
you need to niche down and niche down again and niche down again. Well, this can in fact work and if you’re just getting
started, it’s great advice, but as you scale up, it’s
harder and harder to do because eventually you’re
going to run out of market cap of a super micro niche, so you’re gonna need to
expand a little more. So what does this mean? Well, when it comes to going out there and acquiring new clients, you do want to be niche-specific
but there’s no reason that you can’t target
multiple niches at a time or subsequently or one after
another or whatever it is. When I’m talking about niches, I’m talking about not only the
industry of, say, dentists, or chiropractors, or legal firms, or financial investment
advisors or whatever it is, but also the services that you offer, whether it’s web design
or SEO or online ads or whatever it is. Essentially, you can
choose either the industry or the service that you’re offering and really focus on
that for the time being. Once you’ve built that up
to the level that you want, then you can move on to the next one. So, yes, you do need to niche down, but you are able to have
multiple different niches that you’re targeting
with multiple different marketing campaigns in your own business. The next tip is one of
my absolute favorites and is largely responsible
for massive growth in the very early years of my business and this is the willingness
to outspend your competition. So what do I mean by that? Well, if you’re operating
in say, a local area, all you have to do is take a look at what other local advertising
agencies or marketing agencies are doing in your area,
and then do more of that. Fortunately, in most cases, it’s not too hard to run
a few more Facebook ads or allocate a few more
dollars towards your SEO or put out a little more
content than the competition. All you really need to do
is continue to outspend them and eventually, over time,
that gap becomes so large that they really will
never be able to catch you and never be able to take
over the market share that you’ve established. Now, the easiest way to kind
of ease your way into this is really to start small and
just allocate an extra five or 10% of your revenue to your
internal marketing budget. Over time, as your revenue grows, that budget is going to grow along with it and it becomes a lot easier to essentially take over the market with
content and value and more ads and staying top of mind
among your target market. You know, basically all the
things you’re trying to do for your clients. Alright, so this final tip
should come as no surprise, but if you want to grow your agency, you’re going to need to get more clients. Fortunately, I’ve got a video I’ll link up right down below here
you’ll want to check out which is all about how
to get more clients. Alright so thanks so much for watching, and I hope you enjoyed the episode. Make sure you check out
that video down below on how to get more clients. If you enjoyed the video, make sure to give it a thumbs up, subscribe to the channel, and say hello in the
comments section below. Alright so thanks so much for watching and I’ll catch you next time
on The Modern Marketing Show.

3 comments

Leave a Reply

Your email address will not be published. Required fields are marked *