If you are a marketing agency, local businesses will seek your services to find and get found by new customers, expand their online presence, promote their products and increase their overall brand value in the most effective way possible.
In order to grow these businesses, you offer several digital marketing services to businesses, ranging from web development, brand and campaign designs, social media management and copywriting to SEO, PPE, email marketing campaigns, strategy planning and market analysis.
It is your job to help companies scale their business, get more clients and increase revenue.
But how do you do that for yourself?
As a marketing agency, you also need to grow and increase revenue, but as an agency's core business has been established, it becomes difficult to generate new revenue streams.
So then the question comes to you. How do you find new ways to scale your brand and grow more revenue? How do you attract the larger bank accounts of bigger businesses and optimise your business along with theirs? And most importantly, how do you avoid losing your customers to your competition?
Let’s dive deeper to find out!
What is the best way for a business to increase profitability?
Understand your selling points
It is important to understand what sets your marketing agency apart from the competition and to build on those selling points in order to boost sales.
Look at your rivals and the rest of the market. What makes your company unique? Are you offering any unique services? Could it be your pricing? Is it how you deal with and provide for clients? Ask yourself the real questions: Why would you employ your business as a company?
Focus on it; once you've identified what your unique selling points are, you know what to lean on because it may be what's attracting your customers for you.
Leverage data and metrics
Your website and sample work may not always be enough to convince prospects to convert into customers. Sometimes, even your active clients who appreciate your work may not truly understand the extent of the effectiveness of your work.
Therefore it is your responsibility to collect the data and define metrics for your business in order to showcase the results of your work.
Once you have an idea of how your business is performing, you get to focus on your strong suits and build on the not-so-strong ones.
And when you have metrics you can show off, it becomes far easier to attract new customers, increase your prices and boost overall marketing agency revenue.
Do your competitor analysis
Another way to drive revenue and increase profits is to keep track of who you are competing with. Shoppers compare prices and options all the time to understand what exactly to buy and where to buy it from. This makes it crucial for you to analyse your competitors, to find out what your competitors are doing and how they are charging for it.
They could be adding new services to what they are offering or making shifts in their products, they could have gotten a big name in their customers' roster, or maybe they are changing prices for certain reasons.
You need to know what they're doing and understand why they made that decision.
This way, you are always aware of where you stand when your customers are comparing, and you also know when you have to make necessary upgrades. Add services if required, or change your pricing strategies; when it comes to staying on top of your competition, you need to be ready to improve and go that extra mile for your prospects and customers in order to avoid the risk of losing them to competition.
Offer new services
Business is all about profiting from the services you provide, but sometimes you may lose out on prospects or existing customers for the ones you don't. As a B2B agency, you are competing for customers (businesses) who are also competing with their competitors. And everybody wants to win. Therefore the market too grows on to require more new services.
By adding new services to your offerings, you can not only attract new customers but actually upsell services and encourage your current clients to increase their spending.
How? The key is to add services that will complement the existing services that you offer.
If you are a digital marketing or website design agency, you can consider adding branding services, reputation management or even creative design services to your profile. You can even increase your revenue by expanding your client market to different industries and altering your services to cater to them by adding educational material development or segmented strategy marketing to your services. You can also strategise and focus on adding services that your competitors haven't gotten to yet, to gain some upper hand in the market.
As you upgrade and expand your services, you automatically start attracting better clients. Always remember that you want to constantly attract quality clients, the bigger, the better, and the more ambitious they are, the more profits you get to collect.
Partner with tech providers
When it comes to adding new services to generate more revenue, you know you simply cannot ignore technology.
With the current developments in Artificial Intelligence and Machine Learning technology, software automation company is booming. Conversational AI has reached our messaging apps, websites and all our gadgets in general. In fact, automation tools like AI Chatbots have spread across and conquered all industries, helping them ease their workload, get more and better leads, personalise their services and scale. Like really scale.
Businesses are not just investing but indulging in automation, and they are truly happy with the results. Companies invest in marketing automation, sales automation, customer support automation and even workflow and operations automation.
Statistics state that 83% of companies consider using AI in their strategy a high priority.
In fact, according to Statista, revenues from the global artificial intelligence market were set to reach 433 billion US dollars in the last year, with expectations for 2023 reaching about half a trillion US dollars.
With such numbers, ignoring automation services from your roster of offerings wouldn't just be ignorant but blatantly stupid.
Especially when there is so much you can do with automation.
How can you improve your agency business with automation services?
You can do a lot by partnering with a technology solutions company. Here is everything you can automate to build and scale for your customer's business and triple your own revenue.
1. Lead generation
With automation, you can automate and improve lead generation. Find more leads and let AI segment those leads for you to only attract MQLs that have a better conversation rate.
2. Performance marketing
Chatbot can be the most effective alternative to ads, forms and other performance marketing forums that can be easily distracted from. Bots are constantly on your screen and proactively reach users with pop-up welcome messages and personalised interactions where they can seamlessly collect the prospect's contact details and more.
3. Personalised marketing
According to Gartner, more than half of the online advertisements we see will be influenced by AI identity emotions by 2021. By using environmental and behavioural indicators, sensors tracking biometrics and the evolution of artificial emotional intelligence will help more businesses detect consumer emotions, as they enable a deeper level of hyper-personalisation.
Therefore chatbots are not just aware of whether a customer is new or existing, but they are also aware of a variety of their personal data that can help them engage with your customers better and provide you with the right information needed to curate personalised campaigns for the customers your clients are aiming for.
Automation will help your agency and its client companies use factors like gamification as part of your marketing campaigns and strategies. Chatbots run contests, quizzes and much more you can use gamification as a marketing automation tool to engage customers in more than one way.
5. Email and SMS marketing
One of the biggest yet most annoying aspects of digital marketing are email and SMS marketing campaign. They might not have the best click-through rates, but they definitely still bring in a lot of traffic. With automation, you can automate your email and SMS marketing campaigns, with the assurance that all your important emails are being sent and your customers are provided with all kinds of updates, right from discount broadcast offers to booking confirmation, product shipping updates, cart abandonment messages, reach outs and much more.
6. WhatsApp marketing
WhatsApp has a 98% open rate and over 2 billion users. It is a market that has only been recently tapped. As a channel, it allows almost everything, from message marketing to complete conversational commerce. With automation, you can provide your customers with a fully automated WhatsApp marketing channel, get them verified with a green tick and play in the big leagues by covering every marketing channel possible.
7. Social media marketing
Chatbots can be deployed everywhere, and social media is no exception to that. Automate all of your customers' social media marketing channels and help them give that sweet, personalised marketing experience to all their prospective customers.
8. Improve brand experience
Automation technology provides you with Omnichannel marketing support and multilingual chatbots. This lets brands interact with customers in their language and keep track of all conversations with a customer across time and channels in a single inbox. More than that, automation helps brands be consistent with posting, commenting, replying and engaging in general. Chatbots can maintain a pre-determined tone and personality for a brand while interacting with anyone online. Chatbots use NLP(natural language processing) to find negative feedback online and respond accordingly to maintain a brand's image.
Such features in such competitive times are meant to be leveraged. And as a marketing agency, you can benefit from it all simply by partnering with a technology solutions provider.
Benefits of Partnering with a Technology Solutions company
After understanding what you can do with automation and a marketing agency, it might already seem enticing. But then again, why become a partner when you can just opt for some of the services for yourself and scale anyway?
Automation is definitely good for you, but as a marketing agency that isn't bound by just one company, it is way more beneficial to outsource tech services for your customers than simply opting for automation yourself.
Here are a few benefits of investing in automation partners.
1. Upsell to customers
By adding automation solutions as a service, you can easily upsell the product and service to your existing customers. We already spoke about how 83% of companies are considering using AI-based strategies, which is just the tip of its relevance in today's times. Automation as a service is easy to market and upsell to your customers in order to help them scale their business with ease and, in turn, increase your revenue directly.
2. Save time and money
Automation is low investment - high returns, which means that you can partner with a solutions company at a lower price and sell the same service at a higher cost.
As a marketing agency, there is a lot you need to do for every brand you work with. And even though your brand pays for the services you provide, having your team provide so many services for so many brands remains hectic. With chatbot automation, you can have ready-made chatbot solutions, specially personalised for marketing, ready to use for your use and theirs. Chatbots also save you a lot of time by taking over a lot of jobs that you would otherwise manually have to do for your customers and allows you to use that time to improve on your existing services instead.
3. Scale your business (and theirs)
Automation solutions are booming right now; as a service, it is very similar to digital marketing. It is used to improve your brand value and attract more customers. By investing in a partnership or adding chatbots to your services, you can improve the quality of your services and help scale your client's business more easily. And the better you perform, the more results you show, and the more results you show, the more customers you acquire. This helps add to the legitimacy of your brand and helps you pitch and sell more services to all customers.
4. Attract bigger customers
Automation allows you to handle bigger clients. Bigger companies require automation more than anyone else. Medium to large-scale industries have custom problems that require custom solutions. And all their problems, just like their operations, work on a larger scale. With AI technology backed by a digital marketing agency, these companies can be helped.
Once you can help scale your customers' business and be available to market on all channels, you grow to become capable of handling bigger clients. You can offer your clients more tailor-made solutions on top of a chatbot to help them conquer their problems. This way you can target a large range of customers and attract them with your marketing solutions backed by the ultimate AI automation solutions.
5. Focus on what you're good at
Marketing agencies have to look over every minute aspect of the digital marketing and branding processes. From creating a brand persona to maintaining it across channels, campaigns, and much more. Automation solutions ease a lot of this pain by taking over all your repetitive, day-to-day operations like email marketing, sms marketing, posting, replying and notifying etc. Chatbots also use conversational AI technology to collect high-intent leads, customer data, engage a large number of customers and upsell & cross-sell products online. Once a customer opts for automation solutions, the platform and the technical aspects are all handled by your solutions partner. So they handle the automation work, and you get to focus on the bigger picture of marketing and stitch the pieces doing what you're good at—creating high-level campaigns and bringing them to life for your customer brands.
6. Be the center of your offerings
One of the biggest benefits of offering tech solutions as a partner is keeping your brand at the center of all your offerings.
You get to create an ecosystem for all your services and products and promise consistency, synchronisation and higher productivity alongside it. This builds a positive image of your business in your customer's minds and makes it difficult for them to go anywhere else. Plus, once you sell automation with your services, all your services become connected with technology that automatically increases the longevity of your term with a client, as it is not easily replaceable, even in today's time.
How do you partner with a Technology Solutions Business?
Here, we definitely got you covered. Engati offers businesses some fantastic partnership opportunities to choose from.
Engati is a technology solutions provider with its own product and platform, mindfully built to provide customers with a range of AI-programmed automation solutions. These services are either available in a pre-installed industry template or can also be customised based on a business's requirements.
You can partner with Engati in 3 ways.
Our partnership models are:
Agency Partnership - This form of partnership is the simplest of all and works on a referral basis. It is an exchange of data of interested prospects or customers with monetary compensation in return.
Preferred Partnership - With this form of partnership, you can suggest and sell Engati's platform directly to your customers as a partner and make a profit from it.
Whitelabel Partnership – A white-label partnership allows your company to buy Engati's platform and become a chatbot reseller directly. It is the best form of partnership, as you can sell the product completely under your name, charge at your prices and profit without actually having to handle any technical and training aspects of the product. This allows your marketing agency also to become a marketing automation service provider and gain over 3403% ROI and a firsthand advantage over your competitors.
You can click here to learn more about how to invest in automation through Whitelabel partnership with Engati.
Click here to learn more about pricing and become a partner with Engati!