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2020 And Beyond – How to Survive and Flourish as a Digital Agency

man standing in front of people sitting beside table with laptop computers

The digital agency space is now more competitive than ever before, primarily due to the increasing demand for digital services. Although the unprecedented rise in the demand following this global pandemic has presented digital agencies with new challenges, it has indeed opened a wide range of opportunities. To ensure survival in this critical condition, digital agencies are required to renew their strategy and product offering to meet the ever-changing demands of clients. 

The uncertainty of these times has heightened the sense of insecurity, causing businesses to be circumspect in their business relationships. This situation has made it expedient for agencies to foster robust relationships with local businesses. The crisis has enabled agencies to not only create a dependable client base but also improve their trust and credibility score. By changing strategy and targeting more prospective clients, agencies are now at an advantage over their competitors.

Define Your Identity

At the time of significant change, it is crucial to take your time to craft a robust and recognisable brand identity, because such an endeavour will pay off in the long run. The unprecedented competition and rapid improvement in tools and technological devices have made it difficult for many digital agencies to adapt to new techniques of doing business. However, agencies that successfully identify their offering and position themselves appropriately in the industry are performing better than others. 

Are you an expert in a particular area or a one-stop-shop business for all? Being able to answer this question will enable your agency to position itself appropriately to the clients in need of your services. Positioning oneself also enhances transparency between digital agencies and their respective clients, setting realistic expectations for both parties. 

Identify Opportunities for Growth

Though the first contact between a digital agency and a client might occur primarily to offer a solution to a particular need, this initial discussion can introduce numerous opportunities for both parties.

To ensure compliance with the growing business trend that enables a business to integrate all its platforms and marketing channels, agencies must make sure that they are capable of delivering an integrated suite of professional services. A 2018 survey conducted by Wix stated that high-end design (49%) and additional marketing services (34%) are the two services that drive the most profit for digital agencies. Hence, your ability to offer these additional services not only improves your agency’s margin but also saves clients the cost of shopping around. 

Tailoring your product offering to the needs and priorities of your clients portrays good business sense. The survey also added that demand for services like SEO and website design is expected to rise as against email marketing that would experience a drastic fall in its demand.  Therefore, agencies must keep themselves abreast of the needs and expectations of their clients.

Take It to the Next Level

The rate at which the digital agency space is growing is, to a large extent, a result of rapid development in new technologies and constant release of new offerings into the market. Businesses are now determined to stay ahead of others by adopting these new marketing strategies. Thus, agencies that are smart enough to utilise these opportunities will surely reap the benefits. Services expected to stimulate business growth for agencies include voice-activated systems and VAR (both 21%), AI (14%), and zero-code web development (36%).