The exponential growth of the internet has created an opportunity for specialist digital marketing agencies. But as it happens normally, there are now many agencies competing for the same clients.
Below we share tips on how to run a digital marketing agency that can thrive in the face of all this competition:
Identify a Niche Market to Specialise in
Targeting every type of client is one of the easiest ways to struggle as a digital marketing agency. Those agencies that thrive, target a specific type of client or industry.
By studying the unique digital marketing challenges of a specific market, like dental clinics, restaurants or legal practices, for instance, you get better at meeting their needs.
Specialise at First, Scale Later
Related to the tip we shared above, being everything to everyone is an easy trap to fall into, especially for new agencies. At first, it may be better to offer only one or at least a limited set of services. Specialise in the beginning and expand your services later.
If you started as an SEO consultant, offer that service at first before adding conversion optimisation and only consider adding paid search to your service package after you are sure you can successfully manage multiple accounts and client relationships.
Get the Right Skills
To be honest, a digital marketing agency isn’t that difficult to start, especially in an age where building a website does not require any coding skills. But like any business, running that agency into growth and profitability requires you to invest in the right skills.
If you are selling yourself as an SEO agency, you better know how to get businesses to rank for their target keywords. If you are starting as a greenhorn, you will have to level up very quickly or get people with the right skills. Otherwise, you will struggle to satisfy and keep customers.
Know the Right KPIs to Focus on for Each Customer
Clients depend on you to simplify their digital marketing goals down to specific KPIs. For example, there are many ways to grow sales for a business. It could be by attracting new leads, converting more of your leads into paying customers or getting your customers to buy more of your product.
Now, there are specific KPIs to focus on after determining which of the above strategies to go with. You could increase website traffic, patch holes on the client’s leaky funnel or you can educate customers on the product’s lesser-known features.
So, you will need to analyse each client’s situation and come up with the right strategies. At the end of the day, you will only grow if your clients are thriving.
Consider Buying a Franchise
Even for a digital marketing agency, learning under an established franchise is a great way to level up on your skills and eventually scale your business. A bigger agency represents a franchise opportunity that can expose you to a library of resources and the chance to draw from the experience of industry leaders.