How Can Your Agency Become Focused and Win Your Ideal Clients?
In this segment of The Agency Master Class I’ve got Spencer Gallagher as my guest. He’s talking today about why and how you should select a niche for your agency. In 1999, Spencer created one of the UK’s top digital agencies leading it to a successful acquisition in 2008.
Afraid To Specialize and Turn Off Potential Clients?
You aren’t alone. Most agency owners feel the need to market their services across the board and accept any work thrown at them. They fear the implications of turning down work and worry that having a specialization will result in less consideration by potential clients. They try to model the big guys who seem to be able to do everything.
Truth is, you can’t do it all and your ideal clients will respect you for it.
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In Spencer’s case, he was spending his limited marketing budget casting a wide net. He was pitching many different types of jobs in many different disciplines. (Sound familiar?) Taking a step back, he decided to try a more targeted marketing approach. He directed his attention to sports marketing. Not only did this move give him focus, he became a respected authority in the field and had an edge against the generalists who were pitching the same clients. Declaring a specialization and becoming laser-focused resulted in 300% growth in the first 24 months.
So, How Do You Select A Niche?
You can start by asking yourself: “Who, how, why, and where do I do what I do?” Which one or two of these areas will help you narrow your proposition? Consider a horizontal or vertical niche… choose a service and/or a market area you can dominate. Use marketing intel to be sure it’s an area with growing service needs and be certain it’s something you are passionate about.
There is a Direct Correlation Between Focus and Winning Large Brands
Big brands attract better talent. As you bring in more talent, you can open to new niches and appoint specialized account teams who are experts in the category. This level of service will position your agency as an authority. Once that’s established, your ideal clients will be knocking on your door! And remember, declaring a niche doesn’t mean you have to turn down work – it’s just a marketing focus and positioning statement.
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