5 Big Mistakes Agency Owners Often Make!
Running an agency successfully is not an easy task. Not everyone knows what it takes to master the art of running an agency. There are many factors that you must keep in mind, but the most important thing that you can do is to learn from mistakes that others have made. If you know what the common mistakes that agency owners make are, you can avoid making them. Without much ado, let’s check out the list of mistakes you should avoid as an agency owner.
Lacking a Speciality
Most of the agencies generalize their services and ignore focusing in on a specialty. They offer multiple services to any or all clients hiring them. This generalization restricts their working area. Thus, they only work with local clients or with those clients who have a pre-existing relationship with the agency. Specializing your agency is very important. Industry experts suggest that to be successful as an agency you should be proactive rather than being reactive. You should draw your roadmap and go after those of whom you think will make your perfect clients, rather than cater to all those who appear at your doorstep.
Agencies are often afraid to focus on a specialty due to three main reasons. They are as follows:
- Agencies think that they will not be able to find their perfect clients as they don’t know the desired characteristics of their perfect client.
- Most agencies do not want to turn away the clients who show up at their door offering them work.
- Many agencies operate from a fear that they will end up choosing the wrong specialization.
One common trait of most successful agencies is that they all have a clear roadmap of what they want and where they are going. This clear map helps them to establish authority and credibility in the industry they choose.
If you are willing to leave your fear behind and choose perfect clients for your business, all you have to do is analyze your past and existing projects. You make note of the projects that were profitable, easy to work on and that delivered great results. These are the projects you must target for the future. When you and your team are satisfied with a project, productivity will increase.
If you are not willing to choose certain projects and, therefore, leave some behind, you can choose a narrower scope of service or technology instead.
Relying Too Much on Word-of-Mouth Referrals
While word-of-mouth leads are considered to be the lifeblood of most agencies, relying only on such referrals is a mistake that you will regret later. As discussed in the previous point, agencies should adopt a more proactive approach rather than being reactive. Relying on word-of-mouth for leads is problematic as you are reliant on something that is not directly in your control. You can never be assured of lead generation. It might happen or it might not happen. The fate of your agency should never be in the hands of other people. You have to adopt a proper system to generate new business.
Internet marketing can help you generate leads and to place control into your own hands. Inbound marketing is a great way to drive traffic to your website. Attracting targeted traffic to the landing page and capturing the leads by nurturing them through good content is no longer a secret. Content will help you to find your perfect clients. This leads us to another common mistake that agency owners make.
Wrong Content Marketing Strategy
Having the wrong content marketing strategy is so common that almost every agency has done it. Many agency owners spotlight their portfolio, testimonials or case studies thinking that they would get an overwhelming response from their clients, but they fail to develop their agency blog in a proper manner which, in the case of most agencies, has more appealing content.
If you constantly write about yourself instead of content that the user finds useful, you will turn the reader away instead of converting them into clients. The content should be such that it helps readers to solve a problem. Using generic calls-to-action is another mistake that most agency owners make on their website. You should pay close attention to the calls-to-action and your content marketing strategies if you want to succeed.
Not Interacting with Other Agency Owners
When it comes to being an agency owner, “No man is an island,” as John Donne said. This is an excellent adage to follow. Agencies are one of the toughest businesses to run and it becomes more difficult if you adopt a strategy to go alone. If you think no one else knows how to run a successful agency, this is a wrong attitude.
Instead of bearing the entire burden on your shoulders alone you must learn to delegate. Talking to other agency owners can prove to be therapeutic for you. You can learn about the things they are doing right, and gain a sense of community.
Avoiding the Learning Process
Learning is an ongoing process which most agency owners avoid. This could spell disaster for your agency business, especially digital agencies. Clients expect digital agencies to constantly stay involved in the learning process so that they have knowledge of the latest market trends. You should never stop your learning process as an agency owner.
These are some of the most common mistakes that agency owners make that can hinder the success of their business. Make sure that you avoid these mistakes to ensure your ability to be a successful agency owner.