Starting and running your own agency is a wonderful endeavor, but it’s by no means an automatic success. Even if you have all the right start-up resources, a great office location, and a strong initial team, profits and growth are not guaranteed. In fact, only a small percentage of young businesses make it passed the start-up phase no matter how good their launch may or may not have been. In order to truly succeed, you need excellent management, marketing, service, and customer satisfaction. Growth requires profits, referrals, and a stellar reputation. So how do you build a successful agency in the face of these challenges? We have ten expert tips that will set you on the right path.
1) Hire Talented People
Your employees are the heart of your company. This is especially true with agencies. Your clients projects will only be as successful as your team can make it. Therefore, the quality of people you hire is directly correlated with your client’s success.
Selecting each new hire is one of the most important decisions any business can make. Hone your hiring process to ensure you get the most talented, eager, and compatible people available to join your team.
2) Embrace Being the Face of the Brand
As the leader of your company, you should also be the face of the brand. Let’s face it, your clients are hiring the executive team first and since you can’t stop social media from permanently associating you with your company, why not embrace it? When you enthusiastically represent your company and act as a positive figurehead for your brand it inspires trust in your customers.
3) Be Focused
Always remember what your central purpose is. Whatever your service or product is, don’t get distracted on side projects or new proposals. While you will eventually have the time and resources to branch out, your first and foremost priority should be perfecting your current business plan. Streamline your process, reduce overhead, and stay focused on your primary goals.
4) Create Killer Content
Inbound marketing is an amazing way to get the word out about your work by appealing to people on topics they care about. When you understand your clients and write absolutely killer content to interest and engage them, you create the opportunity to introduce responsive leads to your service with a strong call to action.
5) Produce Game Changing Work
When it comes to your company, never settle for ‘average’ quality. Strive to be the best in the in the business and then exceed that. When you’ve reached the top possibilities of quality, find a new way to improve and don’t be afraid to completely transform your industry in the process.
6) Over-Share Your Work
Update the public on your work constantly, on every form of media you can find. From social media to industry forums, share your work every time you do something impressive or at least once a week, which ever is more frequent. Once you’ve shared, keep on sharing because the more people hear about you, the better.
7) Build Partnerships
Your business goals can work in excellent symbiosis with other businesses, especially vendors, distributors, or service providers that you work with. If for instance, you design awesome apps, an agency that markets apps needs the best brands possible to be successful. Their most likely having design conversations with their clients and a partnership can be mutually beneficial in revenue growth and the success of your projects.
8) Sell, Sell, Sell!
Never stop selling. The sole purpose of your business is to sell your product, which means this need to be at the forefront of your mind with every action your business takes. Whatever is going on inside the company, selling more of whatever you produce is the absolute best way create profits that can be used for improvements and expansion
9) Get Your Rates Right
Your rates will have a huge influence on your final results and bottom line. When they are too low for your demand, you lose money on every transaction. However, if you charge too much customers will go find another service rather than pay inflated fees. The key is to charge rates that cover your overhead, make a profit, and satisfy your customer’s need for both quality and value.
10) Always Over-Deliver
Whenever you get the chance, give your customers more than they asked for. The quality of your goods or services should surpass expectations every time. Always be improving your techniques, adding more value to your services, and do your best to impress your clients with absolutely every action you take.
Following these ten steps will help you lead your agency to success and boost yourself to the top of your industry. When you eat, sleep, and breathe dedication to the quality of your product and the happiness of your clients, your employees will be inspired to follow suit and the entire company will prosper.
I ran Space Chimp for roughly 6 years and generated over $100 Million for my clients and generated over $10 million in revenue for the company. We did a lot of things right and learned from our share of mistakes. Either way, we always have more to learn.
What are some other key tips you would suggest when running a successful agency?