Many agencies could grow overnight if they focused on the
right business strategies. However since the demand for digital services are
increasing by day, many digital agencies are finding it quite difficult to
attract new clients, retain their regular client base, and maintain their
profits. It is because of this same reason that we took time to talk to some
successful digital businesses and compiled these 5 easy tips that will help you
to maximize your digital agency’s profits.
Have Quantifiable Services
Services that can be scaled or quantified will help your
team to grow their focus and eventually increase their efficiency. They will
help you to carry out employee appraisals, define employee responsibilities,
set tangible goals, and provide specific tools for excellence. Alan Refaeli,
the CEO of Digital Bulldogs says, that when using such scalable process you
should focus on key service management areas such as client on-boarding,
invoicing, and business development.
Look For Financial Stability
Depending on your financial equation, you should focus on
measures that allow you to gain stability. For instance if you are struggling
with payrolls and utility bills, the best thing to do would be to downsize, get
an affordable space, or scrap off other services that you don’t need. You could
also plan for short term goals instead of long term options. Working with an
expert data monetization firm will also be a viable process. Your main focus
here is to stay afloat.
Rethink Business Development
Don’t wait until the last minute to realize that the
business development you’ve been pursuing isn’t really viable. Instead come up
with very practical options that could help you to find out if your development
plan is indeed viable. After that come up with ideal ways to streamline quotes,
presentation, and closing activities. Without such a process you’ll spend so
much money on your business development only to hit the rock when it is late. Alan
Refaeli, advices businesses to use ideal programs such as the Marketing Score.
Show A Great Track Record
What is it that you do? How do you do it? Are you able to
provide full client satisfaction? How can you rate your overall performance? Do
you have a practical feedback plan? All these are top questions that every
digital agency should be asking. You want to find out if indeed you’ve been
driving leads and sales to the best of your capacity. If you have a direct and
measurable impact on your clients then selling your services and raking in
profits will be as easy.
Go With Value Based Pricing
Alan Refaeli, the CEO of Digital Bulldogs again says that
often most digital agencies fail to quantify their services and relate them to
their pricing. He says that highly strategic activities such as setting up a
crisis communication plan should be charged equivalently to their perceived
value. And that the agency should use supply and demand laws to their
advantage. This way they can create a formula that is quite reputable and
result oriented.
Outbrain.com emphasizes on
building brand reputation, choosing your jobs well, and getting paid for
planning too. Check them out and see how they work.
0 comments:
Post a Comment