Demand for digital marketing services will continue to rise for businesses of all industries in the coming years. It will be the go-to solution to enhance important areas like customer engagement, visibility, search engine optimisation, and more. As an agency, you will have to be prepared for the upcoming challenges and stay ahead of the competition in order to be the first to grab opportunities as they come. Not only will it make managing your digital marketing agency easier, but it will also be more beneficial in the long run. Here are the main challenges for agency owners today.
1. Acquiring Leads
Acquiring marketing qualified leads (MQL) or sales qualified leads (SQL) can be a real challenge for agencies especially with the competition. Remaining visible in the market will give you the edge you need. Sure you need to be able to provide quality services and deliver promises, however before you reach the point of talking to clients, clients must first be made aware that your business exists. People should know about you. There are a number of tips to keep your business visible during tough economic times, here are some of them:
– Know and define your target audience
– Understand their buyer’s journey
– Get their attention by publishing relevant content
– Know which platform works best for your agency
2. Converting Leads to Clients
Once you’ve overcome the hurdle of maintaining your visibility, it’s now time to inform the client why you’re the best option and get them to convert. However, having leads that don’t convert is one of the most challenging aspects of running a successful agency. In order to convert leads to sales, an agency should have a well-informed marketing strategy.
3. Finding the Right Team
A winning agency needs a winning team. However, with the amount of competition, hiring the best can be tough. Most are already working for other agencies or can come at a really high price.
One solution to this is having an in-house training program and training people yourself. This is great if you have time and resources to spare. Another option is to hire a remote digital marketing team or a virtual team to provide the services for you. Partnering with a third-party digital process outsourcing company will give you access to a talent pool who are best at what they do at a price suited to your budget.
4. Scaling Operations
Scaling operations will always be a challenge as your agency continues to grow. However, this coming year will come in tougher as businesses have to adapt to a new paradigm that will influence plans for growth.
As a business owner, you have to define how you want to scale your business and operations. Do you want your agency to run in different cities or countries? Whatever your vision is, you have to note that each department in your agency has to be ready to scale along with the services.
Acquiring new clients means that you have to make sure you deliver quality services at all times. You have to ensure that you have the manpower to manage the demand from your clients. On top of that, all your systems need to be up-to-date in order to monitor key areas of operations such as sales, operations, finance, and HR.
To address the challenge of scaling operations, digital agencies partner with third-party vendors to provide them with the services they need. One scenario would be is if you had five web design projects for different clients who prefer different platforms and you don’t have the manpower to execute these orders.
One way to provide the service without putting in additional time and cost of hiring in-house is to have a third-party digital marketing agency offering web design and development services handle the tasks for you. All you have to do is tell the team what you need and they will deliver according to the specifications you require. This is the same with SEO services, content marketing services, and PPC.
5. Client Retention
Retaining an existing client will ultimately result to a greater ROI, not to mention it costs up to 25x less than acquiring new customers. Simply put, client retention increases profit. However, the unforeseen challenges that most have experienced the past year have caused problems increasing client retention rate.
For digital marketing agencies, one of the main causes of poor customer retention is being unable to manage existing clients. Effectively managing relationships with existing clients is key to a long-lasting relationship.
There are two key factors that you should consider in boosting client retention:
– Customer satisfaction
– Delivering quality services
If you run an agency that delivers multiple services, it’s important that your clients not only get what they pay for but they are getting the quality service and support they require.
Your main responsibility as an agency owner is to create new relationships and manage existing relationships with clients. Delivery shouldn’t be a problem since you can hire talents or outsource digital marketing services if you need to address operational issues.
One way to ensure that your clients are happy is to be hands-on with weekly or monthly reporting and calls. You have to oversee that account managers are communicating with your clients and are addressing all their requests properly.
6. Staying Up-To-Date with Technology and Trends
The digital marketing world will be constantly developing, and in order to stay on top, you have to adapt to these changes as well. It’s not just the trends but also the technology which is the primary driving force of digitised marketing.
Most agencies find it difficult to keep up with technologies and trends. Why is this so? Owning an agency can be stressful and digital marketing updates flooding the web everyday can be overwhelming. No matter how good you are at time management, there will be important updates or trends you can miss out on.
Here are ways to ensure you’re on top of technology and trends in the digital marketing landscape.
Sign Up for Newsletters. Subscribing to influencer blogs and newsletters will keep you on track with what’s happening in the industry. It’s also an excellent way to get insight and have an idea of what can work for you or what you would prefer to pass upon.
Connect with Like-Minded People. There’s getting news from the newsstand and then there’s getting first-hand information from savvy marketers like yourself. You can meet like-minded individuals at events or through professional social networking sites like LinkedIn.
Once you have formed meaningful connections, make sure to catch up periodically and learn what they’re doing in terms of digital marketing for their brands. This is a great way to see how trends are working out for them as well.
Invest in Upskilling. Help your team gain new knowledge and keep up with the changes in digital marketing by upgrading their skills. When employees learn new things about their craft, they become more committed to their job and more engaged as they are driven to step up their game. Upskilling is also a great way to increase the employee retention rate.
Outsource Services. Outsourcing tasked to a specialised digital process outsourcing agency is another way to stay on top of emerging technology trends. Digital agencies tend to always be updated in terms of software, hardware, and digital trends. Make it easier for your agency by knowing what tasks should be done in-house and which ones can be assigned to a third-party source.
Digital marketing has become a key component of a business’ overall strategy. On top of this, businesses are always looking to partner with an agency that can give them the latest services. Regular benchmarking against competitors and make sure that your team members are doing the same thing.
Wrapping It Up
These are the top challenges digital marketing agencies are facing today and can face in the future. There’s no easy road to success but you can always be prepared for the hurdles to come. Knowing how to rise above these challenges will make managing your digital marketing agency much more pleasurable and rewarding. Remember, you’re not in it alone.
If you deem it necessary, you can always get in touch with a digital marketing consultant outside your firm. Getting fresh insights from another professional’s perspective can help you find missing answers to some of your questions – and that might just be your key to a successful strategy.
Succeeding in digital marketing requires an open mind, openness to learning, and trying new ideas, tools, or strategies. Always be ready to experiment and test this way, you’re sure to keep up with the trends and stay ahead of your competitors.