If you had to guess… What are top reasons why new digital agencies fail?

likehelpful
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Not specializing down to one specific niche and service. It’s the best way to cut through the noise.

Example 1: We help small businesses scale with digital marketing.

Vs.

Example 2: We help private dental practices add 5-10 new clients per month and 20k in new revenue with Facebook advertising.

The second example is more specific, and thus it will resonate more with your market 💡

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Yeah I think it depends I suppose! But, for example, if you are starting FRESH with no network at all and cold clients (no referrals), option 2 is the only way you will succeed tbh.

Option 1 can work, but there will prob be other factors at play. And you prob have to hire talent to fulfill a number of different roles since you’ll be a “one-stop” shop. This makes it harder.

like

1. Annoying regurgitated content instead of “delightful” content when promoting themselves 😬

2. Failure to show the value they provide that is unique as opposed to an agency that would cost less. Aka “finding your niche”

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Hubspot speak for content that is engaging to your audience. From the brand experience side , I’m trying to figure out how to communicate the difference between positive engagement and engaging the algorithms for engagement’s sake (growth marketing). I know this is why we have dropped agencies. Open to ideas for better ways to phrase it!

likehelpful

Trying to follow large agency models without having the budget/talent/capabilities/clients.

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Unless a new digital agency has some proprietary intellectual property or expertise in a niche that no one else serves, as they grow they need to add people and charge more, and there’s always someone cheaper in this particular kind of agency scenario. When your expertise is interchangeable with the expertise of others, you tend to lose when it comes to price. Unless you are actually the cheapest. Then it’s just a race to the bottom.

like

For me, they think that their market is filled with persons who know what they want, so the communication is geared towards the "intellectual" or even "knowledgeable" forgetting that the "layman" can start a business and be clueless.

So how would a layman know if they need the full spectrum of digital marketing for example? Start by educating the potentials through your marketing mediums (website, social media, forums...), this will show your knowledge about the area and in turn you will be appreciated for being open and honest.

This is not a cookie cutter solution though, so it needs discernment and lotssss of patience. 😊

Hope this helps

like

Most times it's because executive officers sit back and rely on the larger clients to keep them afloat with the revenue they bring in. When they leave, there's no new biz to fill the gap and it results in people being laid off, salaries reduced, or the business to implode from the inside.

Agencies only fail because they need new clients and aren't getting them.

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