A Growth Plan For Agencies In Q1 of 2024
The holidays are over, and we have entered into a fresh new year and need to implement fresh strategies to grow our agencies.
I’ve been growing agencies for 13 years, so the growth plan that I’m about to present to you for your agency is full of strategies that I use a lot and are really effective.
If you’re able to implement these tactics in Q1, then your agency will find itself on a very solid foundation to make 2024 the most profitable year yet.
We are all spread a little thin, so in order to save time, let’s dive into exactly what you should be doing in Q1 of this year.
Audit Your Agency
Before implementing new strategies, you need to get a pulse on your current efforts. This will allow you to apply data-driven insights pertaining to your target audience.
To audit your agency, ask yourself and your team the following questions, and for clarity, I’m linking to blog posts I’ve written about these questions you need to ask when auditing your agency.
Have I embraced a niche for my agency? Read more
Which services are the most profitable and which services are the least popular? Read more
What is your client retention rate? Read more
How many qualified leads are you generating per month? Read more
Do you nurture your leads at least once a week? Read more
Have you implemented a referral program? Read more
Try a More Organic Approach to Lead Gen
Cold outreach and PPC just don’t work as well as they used to, and I’m sure you’ve noticed that. To generate a healthy amount of leads in Q1, I can’t recommend a lead magnet in the form of an industry report enough.
For an industry report, I survey 300 members of a target audience so that I can gather my own data on my agency clients’ behalf and publish it in a comprehensive report. The report lives on the agency’s website and is gated with a lead capture form.
The landing page for your lead magnet should be your “hub” for 3 months of lead gen. So, I recommend doing one lead magnet per quarter and starting with the industry report. Future lead magnets can be things like eBooks, webinars, white papers, worksheets, etc.
I think this approach to lead gen is so effective because potential customers like new data and look at the agency that provides the data as a thought leader, which builds credibility and lands new business.
Earn and Leverage Social Proof
Social proof gives your target audience the third-party endorsement of your agency that they crave. With brands tending to want to be more self-sufficient, they’re going to seek out social proof before hiring your agency, so you need to earn social proof and make it easy to find.
Social proof is normally in the form of:
Social media shout-outs
Testimonials
Case Studies
Client interviews
Sometimes, it takes a little incentive to earn social proof. So what I do is offer gift cards to gain social proof. It’s so worth it.
Once you’ve earned your social proof, be sure to leverage it on your website, on social, in your email marketing, etc.
Nurture, Nurture, Nurture
I’m still surprised at the number of agencies that implement a great lead gen program, but they think brands will become clients on their own, and they don’t nurture their leads.
The reality is that nurturing is more important than gaining a lead. Through your nurture program, you should drip thought leadership content to them to keep your agency top-of-mind.
You don’t want to annoy your leads, so don’t send a sales pitch. Aim for things like weekly blog posts, industry data, quick tips, etc., to establish credibility.
While your emails will be thought leadership, you should still have a CTA at the end of your emails to book a call with your agency.
Demonstrate Your Expertise
A few months ago, I surveyed 300 brands who hired an agency within the last year, and you can read the report here.
The statistic that surprised me the most was that 79% of brands are willing to pay more for an agency that is an expert in their industry. This means a few things. First, you need to pick 1-3 industries to embrace. Second, you need to get your expertise known.
To convey expertise in the different niches that your target clients fall under, here are a few things to try:
Guest post on a high-profile publication twice per month
Be a guest on webinars, conferences, and virtual events
Post on social often
Run a dedicated blog that pertains to a specific industry
Final Thoughts: I Want to Implement Some of These Strategies!
I hope you trust me and implement some of these strategies to grow your agency in Q1 of this year and build a great foundation for a successful year ahead.
However, I find that many agency owners spend a lot of time doing awesome client work but don’t have time to grow their own agencies. That’s exactly why I started The Campfire Circle, an agency that grows agencies. I can implement one or some or all of these strategies for your agency, so contact me here if you could use my help.
Which of the strategies I listed do you think will benefit your agency the most? I’d love to read your thoughts in the comments below!
