Master Sales Secrets To Grow Your Marketing Agency
Do you want to grow your marketing agency while avoiding the biggest mistakes?
In this post you will learn 2 major mistakes agency owners make when they hit a revenue growth ceiling in their business. We’ll share how to avoid both mistakes and a whole lot more. Discussing net profit, proven revenue growth strategies for agencies and our master sales secrets. So if you want to grow your social media marketing agency, digital agency, advertising agency or email marketing agency then this post is for you.
Yasmin asked Sean at FlowChat, “Sean, I continue to struggle with breaking a sales plateau in my agency. Can you help me?”
At FlowChat we sure can help you grow your business past that plateau.
The #1 Mistake That Agency Owners Make Is:
They’re Focused on Revenue, Not Profit. And, this is not the way to go.
Growing Your Marketing Agency With Net Profits & LTV In Mind
Begin with raising your prices, focus on LTV (Customer Lifetime Value) and equally focus on the net profits in your business. Net profits measured after expenses are far more important than gross profit numbers.
Building your business with the right sized profit margin will provide the business with an increase in operating capital. That way the more customers you retain overtime, the higher your customer lifetime value becomes. Focusing in on your net profits and sales to the right customers will grow your business.
More profits begins allowing your agency to hire more key people or vendors to work in the business serving your clients. So you can spend more time working on developing the business, building systems, and developing a sales team to close more higher ticket clients.
How To Properly Charge For Your Services To Grow Your Agency
Start by determining what you will charge going forward. Outline what it costs in time and fulfillment for you and your team. As you bring on a mostly full roster of clients raise your prices by 15%, because naturally your time becomes more valuable. Consider that the market may be willing to pay 2x to 10x what you are currently charging. Evaluate the pricing for your services as an agency.
FlowChat Sales Tip: Understanding you can charge more on your next set of “future” clients that you sign up. And, if you sign 2-3 at double your existing rate that is very quickly a wonderful way to break your sales plateau.
As a professional do the market research. Find out what prospects are willing to pay. Test the market. If the ask warrants a higher price it is worth testing to see how your services sell at the higher rate.
As long as, service and delivery can exceed that new price charged by 10x in value to the customer then a price increase should be evaluated and implemented in your business.
Breaking Through Your Revenue Ceiling In Business
This alone will certainly help you breakthrough your sales plateau and grow your business or marketing agency.
Additionally selling your agency services in 4-month, 6-month, or annual pre-paid blocks can exponentially increase your revenue. Think about that if you have some great clients that love your services and are coming up on a renewal in the near future. Perhaps exploring a great renewal conversation can open the door to selling a higher priced package or more duration in the contract.
Again, this extends the LTV for a longer period of time if the client goes from monthly to paid in full annually. One great way to present that is by offering 2 months free if they pay for all 12 months in full. AND, if you want to learn the perfect 4 Must Ask Questions for these types of Client Renewal Conversations then we have just the solution for you here on the blog in a recent post.
The second way to breakthrough the glass ceiling that your agency may be found in terms of what you are earning as a business vs what you see that your earning potential can actually be for your digital marketing agency, social agency, advertising agency, or email marketing agency.
FlowChat Sales Tip: Marketing Agency Sales Prospecting Secrets To Grow Your Business
This can be done 2 ways:
- Increase the number of appointments that you set to close new sales in your business daily with FlowChat as your social media sales prospecting tool.
- Decrease your CAC.
- Always refer back to Rule #1 😉
For Marketing Agencies that simply want more leads and appointments. SUPERCHARGE Your Agency Growth with FlowChat.
Does Your Marketing Agency have a CAC Problem?
CAC or Customer Acquisition Cost is a key metric in your business profitability when compared to your costs for servicing the client account. Monitoring and measuring your CAC lets your business or agency know what it costs for your business to acquire a customer. It’s a common term in the software industry or SaaS business. CAC let’s you know if your initial offer has a payback period or if it is a self liquidating offer.
Marketing Agency Sales Secrets – Bonus Q&A Sales Training
Here are some questions and talking points that you can answer on a notepad by yourself or with your team:
- Is our cost to acquire a customer more or less than what the customer is worth to the business on the initial purchase?
- What is the initial purchase amount or price point that we sell our agency services for?
- Is the service offered paid annually or paid monthly by the client?
- What does it cost for the business to completely fulfill the services sold to the customer each month or year for the price point?
- How much is each customer that the agency has now worth to the business each month?
- How much is it costing the agency in resources to acquire and retain each of the customers that you currently serve in the agency?
- And, what are we currently charging each one of them on an annual or monthly basis?
- Going forward the next 5 customers we sign need to be at what new price (if any)?
- Going forward those next 5 customers need to resemble these characteristics as a business and have these needs, wants and desires that our agency solves.
- Make a list of prospects to have a conversation with that are a fit and meet the criteria for new high ticket clients and renewal customers.
Supercharge Your Agency Growth – Sales Tips Recap
Congratulations! Now you have the full agency sales tips blueprint to breakthrough your glass ceiling! We want to hear about you earning new business revenue and leveling up from your sales plateau.
In business and in sales we need the right tools that work. The ones that get us back our time and can make it super easy for us. And make it even easier to train a VA to do most of, if not all of: our sales prospecting, messaging and appointment setting for us. That’s where FlowChat comes in.
Once you have FlowChat you and your team can easily fill your sales pipeline. Get plenty of highly qualified-targeted leads from any social media account that you have already.
The best part is you don’t need a big audience or following for FlowChat to work for you. Let us show you how in a live demo with a member of our FlowChat team.
Grab your preferred time on the calendar to speak with a FlowChat expert! Book a Call Now
