Digital marketing has never been a bed full of red roses. And that’s because so much effort goes into generating leads for your agency and retaining them for a higher customer lifetime value.
If you’re not careful enough, everything could crash back to the first square when trying to please over-demanding clients who want the world from you.
Of course, a crash is the last thing any marketer wants to see.
Therefore, growth is imperative for every industry – including digital marketing agencies. You must explore every possible tip to put your business ahead of others.
Enough of pep talks – let’s dive into the 5 proven and tested growth hacks that will help you scale your digital marketing agency and quadruple your ROI.
1.Build An Online Presence
As a digital marketing agency, you and your team are often tasked with handling multiple client campaigns using social media platforms, email marketing, and the internet.
But you have to understand that it is not only your clients that need an online presence – whether for campaign awareness or conversion.
You need one too!
According to 2021 statistics, 28% of small businesses do not own a website. If your marketing agency is among this little percentage, then you need to start working on it immediately.
Hire a good developer or a web development agency to spice things up and build a professional-looking site for your marketing brand.
Things don’t end there: You need to optimize your website for visibility, and that’s where SEO comes in. Use your in-house SEO experts if available, or outsource to capable teams.
Search engine optimization is crucial to generating quality leads and clients for your company.
Note that the internet is only the second most used digital marketing channel. Social media ranks first, and Facebook tops the list globally with almost 3 billion active users.
That’s a lot of audiences to go around for every digital marketing agency.
Create active social accounts representing your brand and follow up with valuable, engaging content. The more presence you have, the more credible you look to clients.
Moreso, you can easily direct leads from social platforms to your website or CRM software.
2. Get Found For The Right Keywords
Remember we talked about optimizing your website for SEO?
Most digital marketing agencies make the mistake of building a website and leaving it as a static landing page. Avoid using your website to receive leads from social media platforms and other lead sources.
Introduce content marketing tools like blog posts and share them in different ways, like adding a link to your latest blog in your email signature to let your recipients conveniently access these resources.
Research keywords related to your digital marketing agency and insert them into your website content for improved SEO. If you manage to publish compelling content, you will be able to get good quality backlinks for your blog with the help of link-building tools for SEO.
Your agency will have more positive results if you focus on one area of digital marketing instead of becoming a jack-of-all-trades. You should also work with a particular type of industry client – B2B, B2C, etc. – for more efficiency.
3. Leverage Referrals And Recommendations
Do you know that 67% of deals or business agreements come from referrals? Meet with previous clients and encourage them to refer you to their business partners.
Moreover, people are more likely to trust a brand through family and friends’ recommendations.
This growth hack places much importance on building a good relationship with your clients. If the services you provide are underdelivered, you have lost the chance of getting good referrals.
Measure the performance of each agency member and note their relationship with individual clients. At all costs, ensure you meet up to the reasonable demands of your clients and avoid negative reviews wherever possible.
4. Cut Down Customer Churn Rate
Customer churn rate is a crucial metric that measures the percentage of customers or clients leaving your digital marketing services or switching up to another competitor.
The best way to calculate this rate is to divide the number of clients who left by the total number of clients you initially had (within a given period).
As previously explained, your relationship with clients has a lot of impact on their retention. The better the rapport between customers and your marketing agency, the less likely they will leave.
Don’t just build relationships. Compel your existing clients to invest more in their marketing strategy. This might sound selfish, but note that clients who have spent more money with you have less churn rate.
The logic is simple: between someone who has spent millions of dollars to market his brand through you and another person who has only invested less than a thousand dollars, which is more likely to leave or switch over to another competitor?
Easy pick, right?
5. Network With Industry Leaders In Relevant Niches
The power of networking is highly underrated in the digital marketing industry. And now that the digital world has experienced many post-pandemic changes, you need to take advantage of this hack.
Visit professional platforms like LinkedIn and search for industry leaders in your preferred niche. Send a connection request and converse with them on relevant topics. Let them know what you do but don’t sound so pitchy or sale-sy.
Don’t limit networking to LinkedIn alone. You can also cold-pitch some contacts and let them know what you do. Express your willingness to form valuable connections even if they have no work to give you.
Networking is important because a percentage of the people you connect with will one day refer or recommend you to their business partners.
Yes, the possibility might be little – but don’t forget a single client connection can lead to a lifelong partnership that will take your brand to another level.
Other places to build valuable connections are Reddit and Quora. Create an account on these platforms with your agency name and become a problem solver.
Receive upvotes from the community and let people know what your brand does. Indirectly, you can generate potential leads for your business.
The digital world is experiencing a revolution, and many marketing agencies might have to leave the game. Avoid a dropout by implementing the five proven growth hacks above.
Of course, there is no one-size-fits-all solution, but with the combination of two or more approaches, your digital marketing agency will scale all the hurdles. Be consistent with networking, and market your brand just as you market clients’ brands.