Growth is a very subjective word and can mean different things to each digital agency owner. Maybe you need to grow a particular part of your agency, develop as an agency owner, or grow your whole company?
Every time we work with an agency to help them grow, it has never been one case like another because not everything is the same for every business out there. That’s why we have gathered some of the ways you can grow your agency and what steps you can take to get there.
Your agency can set goals in one or all of the following, however never at the same time, so take at least one to two quarters to focus on one at a time.
Growth through revenue
Many HubSpot agencies are purely focused on getting to the next level of Partner tier by concentrating on bringing on new portals. This is a great way to increase the revenue numbers of your agency; however, you need to keep a close eye on the cost of servicing new businesses.
We recommend having an internal list of the services you offer, and how much they cost. It is also crucial to know how many hours it will take for your sales person to create a proposal with these services that will be approved by the delivery and management team.This ensures that new business is both profitable and a good fit for your agency.
Chief Executive Officer of Penguin Strategies, Perry Nalevka, recently said that “Financially, Growit group comes in, rolls up their sleeves and take responsibility for your success.”
Read more about how Growit Group helped Penguin Strategies to where they are today.Growth through people
As you take on more clients, your agency will need more people to deliver services that get results. You have a choice here when you choose the direction you wish to take your agency in. You can hire young inexperienced yet qualified people to grow your team and offer inexpensive retainer packages, or you can hire experienced and qualified experts to your team to charge more for your retainers. By completing the Growit Agency Positioning exercise, you can decide the types of clients and thus the size of agency you wish to have in the future.
Want to check out what you need to improve your agency? Take our agency health check and find out.
Growth through profit
Perhaps you like the number of clients you have in your portfolio and are happy with the size of your team. If you are, then you can decide how can you reduce your cost of doing business and find opportunities to sell more profitable services to them.
Doing an exercise of analysing all the clients you are doing work for, and the cost of delivering services in a matrix will show you where your opportunities lie. You could brainstorm with your whole team on how to sell more services to your existing clients.
Are you doing a yearly workshop review or marketing audit for each of your clients and charging them for it? Big is not always better - there is a great book called Small Giants that talks about this topic in more detail.
Read more about the Growit Group vision and how out building blocks can help you.
There are other ideas for growing your agency your agency - these are just three of the ways we’ve come across. We would love to hear from you - what ways are you focusing on developing your agency? Please tell us in the comments below, or simply book a free consultation if you want to discuss more ways you can grow.
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