Digital Agencies: 30% of your clients are looking for a new agency!

This statistic could cause some serious eye-brow raising…according to a new research study by the Association of Advertising Agencies (USA) on average, 30% of all clients are open to approaches by competitor agencies. But who could blame them? If they aren’t getting the best in terms of end product and service, their money is being poured down the proverbial drain.

“A competitive world offers two possibilities. You can lose. Or, if you want to win, you can change.”

Too many times I’ve harped on about the need for constant innovation in digital agencies and the fact that satisfactory work just won’t cut the mustard in these tough times. I’ve even preached about improving the client service relationship as a key factor in retaining clients in the long term. These latest statistics are the living proof that (across the pond at least) clients aren’t standing for it. It’s time we rolled up our sleeves…

But hang on a minute…it’s not all doom and gloom. Don’t book those complimentary VIP tickets for your clients just yet. Spin this statistic on it’s head. This means we can approach a big number of potential clients and pitch them on our services without having to worry which agencies they’re currently working with at the moment. If new business is your focus – this research study is nothing but good news.

To focus solely on new business is a dangerous game. The balance between keeping your current client base more than happy and having an eye on new business coming through the door is a juggling act only the best can master.

In the words of Clive Maclean (Advertising Agency Guru), If you can minimize the churn of your current clients you can then focus on organic (new business) growth; A critical pillar on which to grow a profitable and successful agency.

The magic 30%

The magic 30%

Advertisements

Tags: , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: