Scaling up a marketing agency is tough, as it takes a considerable amount of time, money, and effort. Initially, you may have to wear different hats to deal with a variety of departments. This may involve having sound knowledge of corporate compliance, awareness of taxes, customer interaction, and much more. At the end of the day, all it takes to toll on you.
Similar to essential things in businesses, you need to put effort into getting the fruit later. It is better to not to focus short term results, look for a long term approach. Go for providing a solution to customers and build real value to show you genuinely care. This will make a strong foundation of taking actions and putting your work on scale.
The most important one is to rank your business on google. For the purpose you should be aware of SEO, PPC and different content techniques. Look for best seo tools to help you out for this. Apart from this there are more things to consider. Below are 15 useful entrepreneurial tips to help grow your marketing agency.
1. Build sales funnel
The fastest way to grow a business is to make a sales funnel. If you don’t have it yet, you are making a colossal gaffe. Building a sales funnel can help you to automate your processes so you can scale up easily and quickly. Also, you need to conceptualize your sales funnel before incorporating it. Despite a high ticket coaching model or a free plus shipping offer, consider variations first, and then build your automated selling machine to scale up and grow your business.
2. Utilize customer management system
It is always hard to track every manual transaction with the growth of your business. Thus, it is better to use the customer management system to scale up quickly. There are many software available in the market to choose from depending upon your line of work. For example, Infusion Soft can help you with sales and marketing, and SalesForce is viable for cloud-based monitoring, and Quick Books is the best option for accounting. Hence, there is plenty of CMS to integrate cloud-based services. It all depends on how you utilize the most out of them.
3. Research competition
If you are looking to get your offers to bulk audiences, then you need to do competition and research. Most of the successful marketing campaigns are the result of adequate study and authentic strategies. It provides you with competitive intelligence. You can be a scanner to analyze ad copy, landing pages, and every stage of the process. Find the most viral content and uncover strategies to emulate. That’s the quickest way to scale up your agency. Hence, if it is the proven way working for your competitors, then it will surely be going to work for you.
4. Create a customer loyalty program
Customer loyalty programs are an ideal way to increase sales. According to Ian Kingwill, it may cost up to three times more to get a new customer into the pool then selling something to an existing customer. Thus, acquiring a new customer is always expensive. Creating a customer loyalty program can help businesses retain potential prospects and attract new ones as well. You can take it up as an incentive to spend money to pay off in the long run. Therefore try to make it accessible for everyone and see your sales skyrocket over time.
5. Identify opportunities
Just like guerilla marketing, a good understanding of your demographics can lead you to analyze and utilize new opportunities. A sound data of direct competitors, distribution channels, potential niche markets, and foreign gateways can facilitate better possibilities. There are hundreds of new way outs you can pursue with adequate analysis and authentic outsourcing.
6. Build an email list
The most effective and smart way to grow a marketing agency is to build an email list. There is a better way to be a lead magnet with lots of effort and creativity. Offer newsletters; create engaging content, and deliver outstanding content to generate leads. You can take up necessary outsourcings to go through sales funnel for managing your email lists.
7. Form strategic partnerships
To make a world of difference, form a strategic alliance with the right companies. It will enable you to reach a wide swath of prospects. Identifying partnerships can be easier said than to establish. However, looking out for businesses that compliment your own can propose superior opportunities for collaboration.
8. Leverage global platforms
Find a global platform to reach the saturated market and use the open-source ocean to grow businesses quickly. There are several business selling services, including Amazon, Upwork, Airbnb, and much more, to leverage you for long term growth while generating profitable revenues. Try to get into the right one as per your industry and showcase your brand to the world.
9. Licensing deals
Licensing deals are an ideal way for business growth without incorporating many efforts. Thus, if your company manufactures a product that can be permitted to others with a share of revenue, then merge with them to grow your marketing agency quickly. Also, taking up a successfully famous brand and bringing it to a giant corporation can facilitate manufacturers and distributors market saturation at a rapid pace.
10. Consider the franchise model
If you have a successful business, consider franchising it for instant growth. However, franchising may need high investment, and moving to the model is complicated, which takes a lot of marketing knowledge. In the end, it will be going to make a significant difference if you are prone to quick growth.
11. Diversify offer lineup
One way to grow businesses is to diversify current offers with add-ons. Brainstorm on what complementary products and services you can offer to your customers. Think about expansion by identifying new opportunities in your niche market. Try to explore the client’s pain points and bridge the gap with your offerings. Make an objective of adding value in exchange for them.
12. Build passive income streams
If you are among those who are dealing with a razor-thin margin, then consider getting into passive income streams. Growing a business takes a considerable amount of effort; hence, you may not need to keep every goal into the spotlight. Having a passive income can give you an opportunity to afford your mistakes without losing your shirt. The approach will keep your business and provide a cushion to expand in the market and scale up by offering ample resources to you.
13. Acquire businesses
Not in every case, but most of the time, acquiring other companies is a proven way to grow your own business quickly. If you have companies or competitors that can complement your own agency from different industries, it is better to use those platforms to scale up. Hence, a close look within and outside the industry can be beneficial to find the potential for possible opportunities.
14. International expansion
Before working out on this trip, ask yourself, can I expand internationally? Can I take my existing deals and scale them up globally? If the answer is a YES, then have a converting offer for international expansion to make it a quick way to grow. In doing so, you may need some costs for sure. However, profitable potentials could be huge.
15. Create a webinar
Lastly, webinars are the best and state of the art way to promote and expand. It helps marketing agencies grow relatively fast and smooth. They offer an automated lead generation and sales converting tool to reach a wide range of audiences instantly. Also, webinars are great for engaging customers to an automatic clinch of sales after-sales.
Author: Stella Lincoln
I am Stella Lincoln having a master degree from the University of California, Los Angeles in the subject of marketing. I love to spread the knowledge and wisdom. My focus is to enhance my skills and reduce the gap. You can check my write-ups at my blog; Educator House. Nowadays, I am working in HarperCollins Publishers as a Writing Consultant.