The Only 3 Ways To Grow A Digital Marketing Agency
If you study business growth you've likely heard of Jay Abraham.
He's an OG of consulting and online marketing.
He's helped clients in thousands of niches and businesses of all sizes.
Well, per Jay...(and I'd agree) there are really only 3 ways to actually grow your agency.
These 3 ways will lead to potential strategies and tactics that you can deploy.
Depending on where you're at in your growth curve you should probably just focus on ONE for right now.
Which one will it be for you?
Transcript / MP3
If you want to grow your agency, there are really only three things that you should be focused on, and we're going to break them down in this video. Let's get it. Hey guys, Greg here with all agency at all, agency.com. And in this video, I want to just share three ways that you can actually grow your business. And in fact, if you look up how to grow your business..., if you listen to any sort of business growth podcast, you'll come across these three pretty commonly. Now the first time I heard these were by Jay Abraham, the O G of consulting, and as you know, massively successful online business has written tons and tons of books. And I want to kind of apply these three principles, these three ways or strategies to grow your business and apply them to your agency right now.
No. Can I jump in if you are not already subscribed, but we release a new video each and every Thursday. So we'd love to see you click that subscribe button, click the notification bell. So you don't miss another episode. All right. So way number one is to increase the average order value. So inside of your agency, right now, you probably sell a retainer or a couple of different projects. If you're one of our clients, you have one core solution that you really have been focusing on until you hit seven figures. So whatever your solution is, you probably have a price point. That is the average order value. So a client comes in and you sell a $10,000 marketing campaign or marketing funnel implementation package. The average order value would be 10,000. Maybe you also sell courses, or maybe you also sell an audit or things like that.
Looking at across your product, suite, your service suite, you have an average order value. So one way the first way is to actually increase that average order value. You can do this a few ways. You could do this by one, just raising your price. So if you raise the price on all of your services, by say 10, 20%, your average order value will inherently increase. But another thing you could do is look at your packages and add on an upsell or a cross sell. So if a client comes in and say, they want to buy a marketing funnel, implementation package, say, that's what you sell. It's something we use to sell. And if they jump in and normally it's 10,000, you could say, Hey, if you want 30 days of support for once this funnel goes live, we can add on an additional support plan for an additional 5k.
And here's what that looks like. So you can add on a cross sell, you could add on upsells to your existing service packages that either maybe extend the lifetime value, but really what they're doing is increasing that average order value. All right, now, the second thing that Jay says to grow your business is to get people to buy more frequently, think about this as repeat customers. So if someone comes in and buys a project with you, maybe they only do one project with you a year. If you can get them to come back and invest with you again, in a workshop or another program or another service that compliments something that you already did for them and or piggybacks off of something, you've already started with them. You can get them to make another transaction with you. So this is all about repeat customers, this keeping clients for the long-term not necessarily through retainers, but through getting them to buy with you again.
So for a lot of our clients who have that core service, they will eventually have a backend offer. So after you get the core service, you're likely going to want some sort of ongoing advisory or training or consulting coaching package that compliments the system and the solution that we installed with you in the beginning, that would be a way to get one of your existing clients to buy more frequently is having more upsells and cross-sells inside of your business. And the third way is just to get more clients and or more customers, most agency owners. I know right now they are manually hunting. They're manually prospecting. And that means that there's kind of a lower trickle of sales conversations that they're having each and every week. But if you can implement a content creation and publishing schedule, if you can learn how to use paid traffic, and you can start getting more people coming to you, more leads in your system each and every month and have a nurture engine acquisition engine and a sales engine.
That's repeatable. You're actually going to position yourself to have more sales conversations. So if you can only have five conversations a week right now, based on your lead flow and your opportunity volume, well, what if you could increase lead gen increase ad spend or increase your partnership opportunities so that you're having 10 calls a week. If you just keep your same close rate at say 20%, and you go from five sales calls a week to 10 sales calls a week maintaining the same close rate, you've effectively doubled your business. So you're getting more clients. Now, another alternative that you see a lot of folks doing is adding products that are more DIY. Maybe you have some templates or resources that you could sell to your clients that can't afford you. Well, if there's no hands on relationship in regards to that transaction, they're more likely going to be classified as customers.
So think about, you know, selling your byproducts. Maybe you have a framework that you constantly use inside of a client relationship. Imagine you record a video and you sell that framework for a smaller fee where people can consume it on their own time. Now you've added customers. So really there's only three ways to grow your business is to increase the average order value to get people, to buy more frequently and to get more clients. That's it. So if you found this video helpful, if you haven't really thought about how simple it can be to grow your business, then hop on over into our free Facebook group, all agency.com/group. We do free training every single week, breaking down systems, strategies, tips, and tools you can be using to grow and systematize your business and make it more profitable and more predictable. And of these three increase, average order value, get people to buy more frequently and get more clients or customers, which one is the next logical step for you to grow your business. Go ahead and put that in the comments and I'll see you there. [inaudible].