It doesn’t matter at what level your business has reached, it is prone to fall, especially if it is a digital agency due to a minor act of negligence. There are many factors that have their own roles in the success and destruction of your business.
Nothing in this world is fixed except change. And, it’s very important for your digital agency to be able to cope with such changes, as it can either help your agency grow or sustain in this digitally competitive market.
Although digital agencies face innumerable problems like expense management, adaptability to new changes and others mentioned below to give you an exact and better idea of these issues faced by digital agencies, but how well you know them will determine how well you can conquer them,
To leave your clients with a positive and long-lasting impression of your digital agency, you can use advanced digital agency billing software that also has features to help you manage your business efficiently. And, the best thing is that these modern digital invoice software symbolize convenience and modernity at the same time.
Apart from being dependent on advanced technologies, you must focus on certain points to better manage your digital agency. Some of the most common digital agency problems are given below for this with an appropriate solution to each of the problems.
10 big problems faced by digital agencies and their solution:
1.Client finding and Retaining
It doesn’t matter what industry your business is a part of, having clients and retaining them are very important for you to survive in this digitally-competitive market.
The skills and talent of your marketing team and employees are futile if you have issues here. You must know that your business is on the verge of closure if don’t have clients, and it may have a shutdown anytime.
These days, clients are getting more and more demanding, thus you must keep in mind your competitors offering the same service at the same price. So, you must know what special you are giving to your clients that sets you apart from others. It’s better to make them feel that they are learning something by providing them webinars and blogs without any price.
Moreover, it’s important for you to know that your clients are aware of the fact that you know your niche. It is because many agencies tend to be generalists rather than pay attention to a specific aspect of the industry.
By tendering something specialized and you will not only grab the attention of your clients, but you will also be able to retain them and make them forget to think of your competitors.
2. Finding Talented Employees and their Retention
It is an estimation that agencies lose one out of three employees every year; although invisible, the negative implications of this make a company pay for a long time. You must take into account that agencies are service businesses banking on the brainpower and know-how the employees, so the value of talented and hard-working employees can’t be underestimated.
The solution to this problem lies in the effort of considering candidates living outside your geographical area, which will give you the possibility of finding innumerable potential employees.
Moreover, you must pay what they truly deserve, don’t ever think of taking advantage of the ignorance of freshers. This will prevent them from looking anywhere else to move.
Moreover, you must keep them pleased with small incremental raises, loan facility, an appropriate number of leave days, and the like to retain them.
3. Lack of Feasible and Innovative Ideas
Nothing is permanent in the digital sphere, as all is developing at lightning speed. Every month, new products and technologies are given a warm welcome in the market. So, it a must for the agency to keep up with the requirements and expectations of the constantly evolving market.
Your agency must keep its pitch fresh and be specially-designed to fulfil the needs of each would-be client. If you provide your potential clients with a generic pitch that they are fed up with hearing innumerable times, then you will lose something valuable.
Your clients must have this attitude towards your digital agency that your employees think outside of the box and are capable of delivering fresh, original thinking and satisfactory products.
Moreover, it’s wise to have an idea of the problems that may knock at your digital agency door due to the constantly evolving climate, as this will allow you to gear up for them and avoid or deal with them with flying colours.
However, if you find your agency in unavoidable circumstances, then you will be able to ward off such problems or conquer them.
4. Challenges in sudden business growth
It generally happens that a business grows at a rapid speed, which makes it face innumerable challenges, and digital agencies are prone to this experience.
Such challenges are hiring employees in bulk, making sure that you are providing consistent and satisfactory delivery, handling finances, and building a new business development team in a short span of time.
Moreover, the faster your agency grows, the better systems you will need to cope with such challenges resulting from the sudden growth. Such advanced systems to be used to monitor sales, finance, service delivery and the HR department. Furthermore, don’t forget to build a healthy and encouraging culture that helps you get as much as possible from your employees.
Mistakes always teach us something, so you must learn from them not only from your ones but also from other ones in the market when their businesses have a sudden and unexpected growth.
5. Unpreparedness in terms of budget
Not only in digital agencies, but the problems also haunt every businessman in the world who is unprepared in terms of the budget. Money is the most important weapon to run your business and sustain it.
Not only you can lose golden opportunities due to lack of money, but if promising and feasible ideas strike your mind suddenly and require you to have a risk, then your budget will help you win the race.
Moreover, you will always feel more secure and confident when you have some financial backup, thus you will be able to think more deeply about your business growth.
The only solution to this problem is to have healthy relationships with financial institutions that can come to you when you are in need. Moreover, you should also have some additional financial backup to sustain your business when getting devoid of clients, projects, and business opportunities.
6. Not asking questions
These days, every businessman has innumerable platforms and tools to reach their clients personally or professionally, but the important thing is how you utilize these advanced mediums to know the inner voice of your customers or clients.
From potential to existing customers, your each and every target should be able to reach to let them and their requirements be known much better. Moreover, their priceless suggestions can add more to your business growth.
Every digital agency must ask questions to their clients, as only communication tools are not sufficient if it’s lacking in the consoling human touch.
In a nutshell, true words, opinions, desires, fears, and personal and specific problems are the things where you can hit well to take your business to its peak.
7. Being unable to determine USP
This problem is widely prevalent because many digital agencies either don’t pay attention to or don’t know a unique selling point. You must remember that this digital era provides customers with more places and mediums to buy from more than before.
You must not ignore this aspect, as only a unique selling point can boost conversion by 33.8%. The unique selling point is not the thing your competitors are not providing, in fact, you can provide the same services, but you must find the one that is your selling point.
It could be something specific you agency excels in. it must set you apart from your business rivals. Think deeply, and you will open your ideas with a USP (unique selling point).
8. Expense Management
We told you above about budget and its preparation that can help your business touch the sky, but having sufficient amount and not know where to spend, how much to spend, and when to spend must be kept different from the former one.
There are innumerable advanced and modern digital agency software systems capable of giving you an exact idea of the proper cash flow in your business due to having an expense management feature coming with them, which makes your invoicing process much more simple.
If you have a healthy cash flow, then there is not that can come up as an obstacle to your business growth. You must remember that cash flow is the indicator of your business condition. The healthier it is, the better your business is being run.
So, move from the financial management done manually to the modern invoice software for a digital agency that can help you manage your finances automatically, with only little manual effort, for a healthy cash flow.
9. Being same on different platforms
It doesn’t matter how many platforms you have to hear your customers properly if you are the same on every one of them. The biggest issues happen when you post the same, as it puts your clients into boredom and makes them look somewhere else with something unique and appealing.
Your clients expect more from your services, which makes them want to have a different and memorable experience every time they come in touch with you on your communication avenues. As per research conducted by Zendesk, 87 of customers think that their brands must invest their more for better customer experience.
You must add some more colours to our communication mediums. The more voices your business has, the more stories it should have to keep your customers engaged. Having innumerable voices will create confusion and interest in your clients, thus they will come to you to fulfil their interest or find answers to their questions, thus you will be able to know them much better.
Pick only those channels that are mandatory for your business and start putting unique and appealing content on them. Furthermore, your business must be ready to customize as per your customers.
10. Being slow in adaptation to digital changes
If you are a digital agency owner, then digital changes should be your best business partner. Although it will not give you enough time to learn all, as it happens at a rapid speed, it will make your business management more convenient.
It’s a must for you to learn fast, adapt at a rapid speed, and execute perfectly to win the battle. Innumerable things like social media marketing, Google marketing, uncountable analytics tools, and many golden opportunities are always available to benefit from if you adapt to sudden digital changes quickly.
Further, you must be more alert, as theft of your business and customer data has become easily doable. However, advanced and modern tools can help you ward off this issue. Furthermore, you must always be ready to know how to overcome the major challenges of digital agencies by being updated with the new ones.
This blog not only introduced you to 10 big problems faced by digital agencies, but it also gave you appropriate solutions. Most of the tasks in the business of digital agencies are dependent on modern technologies.
The finest example of modern technology is the use of digital agency billing software for invoices that will send your clients invoices regularly, thus you will look more punctual and professional.
Many digital agency billing software systems have other features like client management, task management, many payment gateways, expense management, and the like not only to help you manage your business wisely and efficiently, but such advanced billing software will allow your clients to pay by means of different payment gateways.