Advertising

Agency Growth Secrets Every Entrepreneur Should Know

CEO of WBB GmbH, a consulting firm that helps people learn how to manage ad campaigns for businesses and earn their first or next $1,000.

Starting a social media agency is one thing, and growing it is another. The latter happens when you have acquired sufficient clients and a certain level of expertise in managing the business. As such, growing an agency results in a significant revenue increase and opens up access to larger projects.

However, as I discovered when trying to grow my own agency, We Build Brands, the process is not as straightforward as you might think. While there are several methods you can use to grow your agency, not all of them ensure long-term success. Fortunately, over the years I’ve spent working in the industry, I’ve managed to unearth a few secrets that can help make things easier.

These are the techniques I’ve relied on myself for growing my agency and which have helped me achieve success. Now I’m living the life I’ve always wanted, mentoring others interested in building their social media agencies without it ever feeling like work.

Scaling Your Social Media Marketing Agency

Today, I’ll be sharing some of these secrets that can help you grow your agency while avoiding the obstacles and challenges I’ve faced. After all, with the number of social media users predicted to reach 6 billion by 2027, it is time to take advantage of the rapidly booming industry!

And that is what you could do by mastering these social media agency growth secrets.

1. Identify And Specialize In A Niche

There is no dearth of social media agencies in today’s world, which means businesses have a ton of options to choose from. This can be a major challenge when planning to grow your agency, as there is plenty of competition offering various social media marketing services. To stand out and attract businesses in such a scenario, you need to build your own brand.

And the most effective way of doing that is to become the best at one thing. Instead of trying to offer multiple services like the rest of the agencies out there, you should focus on a particular niche and strive to specialize in it. This can be content marketing, paid advertising or any other social media marketing service, but your agency should be able to do it better than anyone else.

2. Find The Right Clients

When expanding your agency, you may feel like getting more clients is the right way to go about things. However, accepting all types of clients can be counterproductive since different clients require different services. This means you won’t be able to specialize in your chosen niche and have to stick to what others are doing.

It took me quite some time to figure out, but in the end, I was able to determine an effective way of finding the right clients. And that is by creating a persona of the clients whom you want to serve. Doing so can also make managing your clients easier and help create lasting relationships. Remember, it is always better to focus on quality over quantity.

Pro Tip: Consider getting rid of clients that require mediocre quality work and generate little revenue.

3. Avoid Offering Freebies

From what I’ve learned about this industry over the years, most businesses rely on a lot of freebies to bring in more clients. Such freebies generally include sample products, test runs, free trials, etc., aimed at enticing clients. This is especially true for full-service agencies, who often spend precious resources on free guides, audits, strategy calls, etc.

But as my mentors pointed out, businesses specializing in a particular niche do better by avoiding such tactics. The reason is that designing and coming up with a product or service requires countless hours of work and a lot of effort and resources. And this is more true for a niche business whose very existence depends on offering unmatched quality, which requires even more skill.

Giving away free stuff tends to result in the costs adding up, as you will still need to pay your content creators to develop the offerings.

4. Hire At The Right Time

Scaling your agency means hiring more employees to manage the increased workload efficiently. While you may be able to handle everything independently at the beginning, managing a growing business is impossible without additional help. Believe me, I’ve tried it out when building my own agency.

You may prefer to hire full-time employees or work with freelancers, but knowing when to hire them is important. For extremely complicated or large-scale projects, you will more than likely need more workers, and taking up such jobs may require you to hire more people. But consider how long such projects will be available and how much you are willing to pay when opening up such positions.

5. Build Your Brand

Specializing in a niche is just one aspect of building your brand. But there are many other things you need to do to make your agency recognizable in the minds of potential customers, clients and partners. These include crafting your unique selling proposition (USP), developing consistent brand messaging, building a strong online presence and delivering exceptional service.

One of the best ways of building a brand is through case studies, which can effectively highlight what your agency has to offer. For instance, you can showcase how your agency helped a client increase their social media reach and engagement, as Buffer did in this case study.

Conclusion

Now that I’ve shared these agency growth secrets with you, it is time to get started on scaling your business. Just remember that every business is different and requires a customized approach to getting results. So when choosing a niche and selecting the right clients, consider the requirements of your agency before making a decision.

Similarly, utilize brand-building techniques that highlight the strengths of the agency and its USP, and focus on promotional strategies that do not involve giving away freebies. With these things in mind, you are ready to start growing your business.


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