With the pandemic digging its claws into the society’s epidermis, businesses are shutting down their brick-and-mortar shops, the traffic is dwindling, and fewer people are seen prowling the streets – which means marketing is becoming progressively digital. The need to hire a digital agency has become far more pronounced than ever before.
As more and more businesses come up with digital campaigns to stand out within the oversaturated online atmosphere, the need for digital marketing agencies has grown twofold. The growing demand for high-quality digital marketing campaigns has given way to development and establishment of higher number of agencies, overwhelming the industry in return.
This has made it more challenging for the already existing digital marketing agencies to attract customers that would stay. However, not every digital agency has the plans strategized and set right, hence there are a lot of loopholes to tap into with the right tactics. In case you are willing to learn new marketing strategies, Than it time to hit https://ocd.vn
Challenges face by digital marketing agency (H2)
There are a lot of challenges a digital marketing agency faces when attempting to scale its work premises and increase its customer base. To understand how to minimize that, we will first jot down what the challenges look like.
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Burgeoning customer churn(H3)
According to an article written by Forbes the new Small Businesses Financial Health Survey that was steered by Biz2Credit discovered that the small business owners saw a decrease of 52% in their YoY revenues, whereas the payroll expenses have plummeted by 54% in the second half of 2020.
This is strongly attributed to the effects of the pandemic since a lot of businesses had to terminate a lot of their marketing campaigns to make up for the decreasing global expenditure as people started losing their jobs – full circle. This forced the businesses to reevaluate their marketing platforms and let go of a lot of contracts with several of their clients. When a client suddenly pulls out of their contract the digital agency is left with an overflowing employee head count further burdening the company’s financial reserves.
Diminishing profit margins(H3)
The 2019 Promethean Research survey identified that profit margins for the rest of digital marketing industry currently stands at 18% however several agencies – specifically the small to medium scale ones only garner around 11% – 15%. This is incredibly challenging to agencies that are trying to expand especially since they must retain employees and broaden their payroll budget to ingest new talent.
Digital agencies will have to quickly find new clients to make up for the increasing salary costs, however, this becomes an issue when the existing employees have to handle the incoming pressure of fresh projects as the company scrambles to find the appropriate talent to employ. This leads us to the our final challenge.
Identifying capable talent(H3)
The digital marketing industry has reported to consistently see the highest employee turnover with majority of the individuals citing poor monetary compensation as the reason. Often the employees of a specific company get poached by competing agencies with a promise of better pay, work-life balance, and sky-high career development.
Hiring a new employee and then training them to fit the company’s standards and requirements is one of the biggest challenges a company faces since they have to spare existing talent and copious time to do, losing a lot of profit in the process.
How digital agencies can get clients(H3)
Keeping all of that in mind here are some ways you can set your digital agency up to pursue and receive new clients:
Understand what your clients want(H4)
One of the best ways of obtaining clients is by becoming your own client. Through the lens of your client take a look at whether your business’s process flow is benefiting your clients or not. Go through every step, draw up a brand guide, and create a data driven marketing plan that would show your clients. conduct market research on what other digital agencies are doing and emulate that in your process design. Evaluate the advice and strategies that you give to your audience – utilizing storytelling wherever possible making sure not to immolate quality or pertinent details in the process.
Use social networks to build awareness(H4)
Social media gives us a lot of options on creating awareness that will deliver returns in the long run. If you have completed a client project successfully then make sure to ask for a referral and post it up on your social media “review” section. By adding proof of your past successes with our clients you build a reputation for delivering high quality results within the industry allowing clients to trust you long term. People and companies are often surveying the social media platforms for the best opportunities in terms of products and services. The best part is that you can devise a different social media campaign for different social media pages allowing you to target various ideal buyers al at once.
Revamp your buyer personality(H4)
The industry, especially, the digital industry, is constantly changing and developing. Hence, you will need to consistently re-evaluate your current buyer persona to match the current demands and priorities brewing within the industry. Especially considering the current pandemic there has been a tidal shift in the demands posed by almost every industry’s consumer which various firms are rushing to meet. Doing a swift, yet thorough market research can massively help you perceive and understand current consumer demands and build a buyer persona accordingly. This will aide you in deepening your relationship with your existing clients while also spotting new opportunities that fit this new persona.
Reassess and optimize your workflow(H4)
One of the major ways to boost your scaling plans by acquiring new clients, is through re-evaluation of the current workflow process. This will point out any prevalent bottlenecks that might come up in the process and grant you room for adjustments. This is especially important if you are onboarding fresh talent and adding processes to further streamline the development procedure. Breaking down a specific process into different steps, and assigning the best team member for a specific action will not only guarantee quality but also punctuality in project completion.
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Amp up your SEO, PPC, and Email marketing strategies(H4)
To garner your target market, you need a customer acquisition plan that focuses on putting your digital agency website and other marketing platforms at the forefront of the industry. You need a strategy to rank your website on Google using high-volume keywords. Then your team will run ads that are specifically hyper-focused on your ideal buyers on Facebook, LinkedIn, and Google. Your ads should make an offer your clients cannot refuse or guarantee a process that will improve conversions. Lastly, cold emailing is a tried and tested conventional method to acquire greater customer leads. Writing a custom email that promises solve all of the clients’ digital marketing problems will establish a better impression than a pre-set template.
Procuring clients as a digital agency can be difficult and easy in this day and age, it all depends on how you strategize your customer acquisition activities. Starting off by highlighting the changes you are facing, keeping the current supply and demand climate in perspective, can systemize your process and identify loopholes that were otherwise causing you to lose favor with your target market.
