Once upon a time there was a market where demand was higher than the offer but in a last few year’s market developed in such a way that what was working yesterday is just not good enough for today, and even needed to be re-invented for tomorrow if we would like to be in business. Everyone we talk to tells us similar story: margins are squeezed to the minimum, clients expect new offerings, new fresh ideas and new approach, competitors are better than ever and competition is getting bigger each day. And on the top of that, clients are more educated and more demanded then before. Having all of that in mind, today is much easier than 10 years ago to lose a good client and watch him goes to your biggest competitor. How to stop loosing clients? Yep, even in creative industry like yours it is tough to stay on the top and have satisfied clients. If you would like to keep your renewal lifetime clients happy, a few criteria should be met: #Industry knowledge Today more than ever marketing agencies need to be more than just regular service providers. They need to be strategic partners to their clients and be able to make a positive impact on their business. In order to do that, you as digital marketing agency must know your clients industry inside out. By knowing your clients daily business issues you will be in a position to make proactive ideas that can change their world. #Cutting edge Clients are being asked to deliver more with less and are seeking a “better, faster, cheaper” attitude from agencies all the time. Because we are also in service business as software development company, we are quite familiar that good – cheap – fast principle is just not working (or really rarely). So one of the option is to always be on cutting edge with new technologies, new methodologies and new approach that will give you added value and make you be one step in front of your competitor. #Focusing on outcomes Agencies that focus primarily on deliverables and lack systems to show how those outputs affect on clients business will have a hard time proving they are worth the money for the clients. What you could do is to adapt your strategy to be based on performance (outcomes not outputs), and commit to exceeding ROI that is agreed. # Underpromising, overdelivering One of the most common reason why companies switch their digital marketing agencies is because the agencies tends to overpromise what can be achieved for a client. By doing business that way, expectations can get too high and when delivery lacks, client is forced to move on. Beware of that most reasons why relationships go bad is that people doesn’t manage expectations properly. #No Self-interest There is no free lunch, that is true story and in most cases it doesn’t mean clients don’t want their agencies to make more money, in fact, when a client loves what their agency is doing for them, they will find a way to help the agency grow. But one thing that clients don’t like is when the agency is serving only themselves. For example if you are recommending some specific media buy because it is best for you because of the commission structure and not for your client it is not going to be good for a long run. If you get your client in a position that he is thinking if you are suggesting some creative idea because you think it will drive his sales or win awards you are loosing him. Put your client on first place and they will help you grow on a longer term.

Why digital marketing agencies lose clients?

Once upon a time there was a market where demand was higher than the offer but in last few years market developed in such a way that what was working yesterday is just not good enough today, and even needs to be re-invented for tomorrow if we would like to be in business.

Everyone we talk to tells us a similar story: margins are squeezed to the minimum, clients expect new offerings, new fresh ideas and new approach, competitors are better than ever and competition is getting bigger each day. And on the top of that, clients are more educated and more demanding than before.

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Why do digital marketing agencies need recurring revenue?

Why digital marketing agency need recurring revenue?

 

Running a digital marketing agency is an amazing thing to do. You have the privilege of doing creative, meaningful job while interacting with great brands, making real impact on people`s daily lives while implementing your out- of- the – box thinking into reality.

Amazing, right?

But sometimes, when the end of the month comes and when you need to pay salaries and tax , fun part is gone. And if you didn’t have enough projects that month, it can be a really though period for digital marketing agency.

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