Does Your Agency Need to Boost Client Retention?
Are you looking for a way to keep your clients around longer? Are you ready to focus more on agency client retention? Do you struggle for clients to see the value of your work? Client retention is one of the most important parts of finding success, but it’s often one of the things agencies struggle with the most.
In today’s episode, we’ll cover:
- 2 ways to boost client retention.
- Why it’s important to benchmark client progress.
- Does your team understand agency pricing and value?
Today I sat down for an informative chat with John Horn, CEO of Stub Group Advertising, a digital advertising agency out of Fort Worth, Texas. John was one of the agency’s first hires, and as such has really seen what works and what doesn’t when it comes to growing a pay-per-click agency. He’s here to talk about why it’s so critical for your clients to understand exactly what they are getting.
2 Ways to Drive Up Agency Client Retention
It’s no secret — in the agency realm, there is a lot of client turnover. And while you may be able to bring in new clients to replace some of the ones you’ve lost, if you constantly have a revolving door of clients, you’re going to experience excess costs and a lot of instability. One of the best ways to grow an agency is to not just bring on new clients but to maintain a strong level of agency client retention by keeping the ones you already have. How?
- Start out with realistic expectations: Every client will come in with a list of what they want for their company. It’s your job to help them understand what is attainable and what just isn’t. Sit down with your client and discuss what they want and compare it to market realities. When you do this from the start, your client is less likely to be disappointed.
- Help your client measure success: What should your client see when a campaign is working? Will there be more traffic? Higher revenue? Less spend? Understand how the client will measure the success and be able to report on what you are delivering.
Why It’s Important to Benchmark Client Progress
Clients are fickle. And there will always be other agencies trying to lure your clients away. So how do you make sure your clients are happy with the services you provide? Benchmarks.
Clients will always forget what you did for them yesterday. That’s why it’s important to regularly sit down and say, “This is where you were then and this is where you are now.” This helps your client understand the value of your services and will help them justify a continued relationship.
This is also a good time to look at what’s working and what’s not. Look at the data. Are things getting better or worse? Benchmarks can help you and your client decide when it may be time to mix things up.
Does Your Team Understand Agency Pricing and Value?
Stub Group Advertising has gone through a lot of different pricing models to figure out what works. But one thing that remains the same is the need to understand value and worth. If you don’t understand why you’re pricing your services at a certain point, your clients won’t either. If you are an expert in the field, don’t be afraid to charge those premium prices. Sure, you’ll attract new clients with lower pricing, but generally, it won’t be the type of clients that will help you build your agency. Use pricing as a qualifier for the type of client you want to bring in.
Keeping clients happy isn’t rocket science, but it does take work. The more your clients understand what they are actually getting and the value of your services, the more likely they are to stick around.
Struggling to maintain consistent project work and revenue streams?
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Also, be sure you check out SharpSpring’s FREE Agency Acceleration Series featuring presentations by some of today’s best marketers — including the one and only Seth Godin.
What’s Next After Maintaining Good Agency Client Retention?
Building authority for your agency is key and agency client retention is a main aspect of this. To also build your agency, you need to be prepared for other challenges that either arise during the scaling or are created because of it. Don’t worry as this is where I can step in.
As well as scaling faster agency obstacles, I can help you deal with bad agency clients, how to build authority for your agency and more.If it’s challenges growing your business that you are experiencing, I have agency growth hacks, the best ways to improve management of your business as well as why building a remote team can be beneficial in the long run.