Mon, 9 November 2020
Do you struggle with client retention? Are you worried you aren't providing what your client needs? Client retention is a problem many agencies deal with. But think about it, how well do you really know your digital agency clients? For most agencies, they just need to get back to the basics.
In today's episode, we'll cover:
Today I sat down for a really informative chat with John Florey, president of Sama Labs, a digital marketing agency based out of Boca Raton, Florida. John comes in with a little bit of a different experience than many of the other guests on our show. While he runs a successful digital agency, he also has several brands of his own. He's here to share what he has learned about what it means to run a successful agency, from the perspective of an executive, as well as a client.
#1 Mistake New Agencies Make
When you're running an agency, it can be difficult to recognize what you're doing wrong. So I asked John where he saw agencies failing from the client perspective. John says the number one thing agencies fail to do is understand the infrastructure.
What does this mean? Too many agencies don't take the time to understand the basics of the brand they are working with. How does the business run? Does a particular type of marketing make sense? Why are you doing what you are doing?
This is one of the main reasons I tell my clients you need to niche down. If you understand the market better than your client, only then can you provide the right type of guidance. If you go after everyone, you might be able to get a few shiny retainers, but how long will those clients stick around?
2 Simple Tips to Increase Client Retention
When I talk about client retention, I always think about the words of Joey Coleman — What you do in the first 100 days can increase client retention. Think about it, if your client isn't happy in the first 100 days, chances are slim you're going to successfully turn things around. John says there are 2 things he does to focus on clients during this time.
How to Better Understand Your Client's Needs
We often look at the big picture and skip over the more granular things. This is a mistake. If you don't know what makes a brand tick or where they are spending their money, you're going to have a hard time finding success.
Take expenses for example. If your client's expenses are really high and their ad budget is really low, chances of profitability are probably going to be really low as well.
Ask a lot of questions. The more insight you have, the better chance both you and your client will have at success.
Client retention is all about relationships and relationships are built on getting to know each other. The more effort you put in and the more time you take to learn what your client needs, the better off you both will be.
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Direct download: How_Well_Do_You_Know_Your_Digital_Agency_Clients_.mp3
Category:general -- posted at: 5:00am EDT