As a new marketing agency, it is essential to strategically determine the products and services you offer to ensure successful revenue and client satisfaction. You want to be sure that you are providing the most value to your clients as possible while also maximizing your profits and bringing in new business consistently.
You may find yourself struggling to nail down your offerings, or maybe you don’t know where to begin. Maybe you have an idea of what you’d like to offer, but you’re unsure of how to deliver. The Agency’s Agency is here to help you scale without running yourself ragged.
Step 1: Understanding Your Agency & Target Audience
The first step in deciding what to offer is identifying your agency’s core competencies and areas of expertise. Consider your (and your team’s) strengths and experiences, and evaluate which industries and niches you are most knowledgeable in. Do you specialize in social media marketing, content creation, branding, or market research? Answering these questions will help you narrow down your service offerings and target your ideal clients effectively.
Once you’ve identified your agency’s strengths, research your target market’s needs and demands carefully. Analyze industry trends, conduct market research, and engage in conversations with potential clients to better understand their pain points and what they’re looking for in a marketing agency.
Additionally, it is crucial to keep in mind that the products and services your new marketing agency offers should complement one another. For example, if you specialize in social media marketing, your services might include creating social media strategies, content creation, and social media management. This cohesive package of services ensures clients receive a comprehensive approach to their marketing needs.
Step 2: Building Your Product Library
Now that you have direction, it’s time to decide on your products and services. It’s crucial to consider diversifying your services to offer more extensive solutions to your clients. Offering packages that include a combination of services that complement each other, including branding, web design, market research, SEO, email marketing, and content creation, allows you to provide an all-inclusive service to your clients.
Ultimately, the key to deciding which products and services your new marketing agency offers is careful consideration of your team’s expertise, industry trends, and client needs. This approach will ensure that your agency is positioned to offer services that help your clients succeed while also generating revenue for your business.
While it is important to focus on providing personalized solutions to your clients, it is equally essential to consider the scalability of the products and services you offer. This will enable your agency to cater to a larger customer base and grow your business over time.
Step 3: Pricing Your Agency Competitively
The marketing industry is highly competitive, with countless established players and new entrants constantly emerging. It is crucial to price your products and services competitively, taking into consideration the prevailing market rates and the value you are providing to your customers. After all, the last thing you want to do is undervalue your agency!
Budgeting is absolutely necessary to determine pricing for your marketing services. You should take into account all the necessary expenses, including overhead, salaries, and the cost of acquiring new clients. Consider the prices charged by your competitors for similar products and services, and ensure your pricing strategies reflect your unique value proposition. One approach that new marketing agencies may consider effective is offering pricing tiers for different levels of service. This may include basic packages at lower prices and premium packages at higher prices, providing clients with the ability to choose what best suits their needs and budget.
Step 4: Delivery & Maintenance
New marketing agencies often face challenges in delivering high-quality services to their clients. This is compounded by the fact that they may lack the experience, expertise, and resources necessary to manage client workloads efficiently. However, it is crucial for new marketing agencies to find ways to streamline their operations and manage workloads if they are to succeed in the competitive marketing landscape. Here are some tips on how your new marketing agency can achieve this:
Develop a Project Management System
A project management system is essential for managing client workloads effortlessly. Your project management system should include features such as task assignments, collaborative workspaces, document sharing, and/or progress tracking. These systems ensure that your agency team can work together efficiently and effectively while keeping track of project timelines.
Prioritize Transparency & Communication
Both transparency and communication are key to building trust with clients, which can lead to long-term, successful partnerships. Regularly update clients on the status of their projects and provide them with access to project management tools so they can oversee project progress. This approach ensures that clients are kept in the loop and are aware of any challenges or obstacles.
Invest in Automation Tools
Automation tools can help your new marketing agency streamline its client delivery process. For instance, social media content creation and scheduling tools, like Cloud Campaign, can help your agency better manage its social media campaigns. These tools can save time and increase productivity while also ensuring consistent delivery of high-quality content.
Create a Dedicated Onboarding Process
A dedicated onboarding process guarantees that clients are well-informed about your agency’s services and processes. It also helps to set clear expectations from the very beginning, ensuring that everyone is aligned on project goals and objectives. This step minimizes errors and maximizes service efficiency, enabling the agency to deliver on time and within budget.
At The Agency’s Agency, we offer custom-designed forms to streamline your client intake process. Our personalized questionnaires allow you to collect vital information from clients in an organized manner. Learn more by visiting our agency shop!
Step 5: Positioning Yourself in The Market
As with determining your services, you can position yourself as a player in the market by honing in on your niche. By focusing on a particular niche, your agency can develop its expertise and build a reputation for itself. This will also help you to target your ideal customers more effectively and differentiate your agency from generic marketing agencies.
With consumers increasingly turning to online channels for research and engagement, your online presence can make or break your agency. New marketing agencies should have a visually appealing and user-friendly website, active social media accounts, and a well-designed portfolio that showcases their capabilities. This can increase visibility and attract more potential clients!
Another way to put your agency on the map is by creating and sharing valuable content on your blog and social media platforms. By offering insights, tips and industry updates, you can establish your new marketing agency as a knowledgeable expert in your niche. This can attract more traffic to your website and social media channels, increase engagement, and ultimately generate leads.
As you plan to introduce new products and services, it is essential to consider if they align with your agency’s long-term vision and growth strategy. This will eliminate the need for frequent changes in direction and rebranding.
Trust The Agency’s Agency to Help Get Your New Marketing Agency Off The Ground & Rake in Revenue!
As a new marketing agency owner, you can determine what products and services to offer by identifying your agency’s core competencies, researching market trends and client needs, offering complementary services, and diversifying relevant solutions in a transparent and clear manner.
At The Agency’s Agency, we offer comprehensive solutions for up-and-coming marketing agencies that are struggling to scale their growth and position themselves as a competitor in the market. We offer a wide range of services, including agency consultations, templates and resources, marketing and advertising, and sales training, all of which are tailored to meet the specific needs and goals of each agency we work with.
Our approach is not a one-size-fits-all approach but a customized solution that ensures each agency we work with reaches its full potential. With over 30 years of experience in the industry, our founder Janice Christopher has learned from the greats and has hands-on experience in operating a thriving marketing agency.
With our proven systems and templates, marketing agencies can provide excellent customer service, streamline their processes, and protect themselves from before the first prospect meeting to client onboarding and beyond. Join us for a journey towards success- we’ll be your trusted guide as we uncover the ultimate strategies and solutions, leaving you free to devote your energy to what truly matters – expanding your new marketing agency! Book a consultation today.
