Paul Smith: Creatively Designing Customer Relationships?

Source: https://postfunnel.com/paul-smith-creatively-designing-customer-relationships/

Welcome to episode 35 of PostFunnel’s Seven CRM Commandments series, where we get to Paul Smith.

The British fashion designer – mostly famous for its quality of clothes and unique combinations of pattern and color – was made a Royal Designer for the Industry in 1991.

But is Paul Smith making customers feel like royalty? Let’s start checking.

Be Transparent 10/10

AD spoke to the iconic British designer, Paul Smith, on some very real matters as he recently celebrated his 50th anniversary in the fashion industry.

“It’s more important than ever to have a point of view and a point of difference. It’s also important to know your customer well. I still love to go to my flagship shop on Albermarle Street in London on Saturdays and work on the shop floor. It’s the best way to meet my customers and get to know what they want.”

Paul Smith is and always has been open, honest, and authentic with customers and fans. His foundation offers the best advice to help young designers learn how to take their “ambition to the next level.”

And here’s what he has to say on decision making:

“Over the years, some of the decisions I’ve made have been not that wise, and probably some of the staff would think, ‘Oh gosh, I wish he’d not done that.’ I’m not autocratic, and I do try to get opinions, but at some point, you have to make a decision because you can’t keep beating around the bush. You have to say, ‘We’re stopping that for the time being. And let’s think about it.’”

As customers, we usually forgive mistakes if brands behave transparently. And Paul Smith surely is.

Incentives and Perks 10/10

The first banner on the brand’s HP is the following 50% discount offer.

Throughout our customer journey when analyzing the brand, the newsletter signup offer below appeared.

Also, Paul Smith is currently having a Men’s AW20 sale.

Finally, the brand offers customers the ability to shop with gift cards.

That’s enough promotions to get a perfect score here.

Be Relevant 10/10

When searching whether the brand states/acknowledges the COVID-19 pandemic and if/how customers may be affected when shopping – we found the following text written on their Shipping & Returns Policy:

“Due to recent Covid-19 Tier changes, we cannot ship Interior items available in our shops. Once you place an order, a member of Customer Services will be in touch to confirm shipping details as we find out more from Government updates.”

In fact, the brand has updated its FAQ page to add an entire COVID-19 update section.

The brand also acknowledges that customers are likely to make returns after the holiday shopping season and updated their returns page to say:

We also noticed that the brand has Click & Collect shopping options when browsing the site.

Furthermore, Paul smith has altered its product offering to help customers during this challenging year by creating a “Shop now. Pay later with Klarna.” option.

Here’s how it works:

“We’re excited to announce we have partnered with Klarna to bring you new ways to pay at checkout. It’s a safe and simple way to get the stuff you want when you want it.”

Finally, the brand has a virtual personal shopping experience, perfect for customers who are in-and-out of lockdowns due to the pandemic. It’s excellent in that customers can book a virtual appointment with a Paul Smith stylist – all from the comfort of their home! (More detail on this in the UX commandment below)

We don’t think any brand we examined so far checked ALL THE BOXES here as Paul Smith has.

Be Helpful 10/10

The brand is on a “path to sustainability”.

In addition, and what we found unique to this brand, is the following “modern slavery statement” which reads:

At Paul Smith, we are absolutely committed to preventing slavery and human trafficking in our corporate activities, and to ensuring that our supply chains are free from slavery and human trafficking.”

The page goes on to detail how their business, supply chains, policies, and distribution methods ensure there is no modern slavery or human trafficking. Their employees and recruitment practices have no risk of slavery and human trafficking, too, and Paul Smith even provides a full statement confirming their due diligence on the matter.

Finally, in recent news – Paul Smith reflects on his new foundation and legacy after 50 years in fashion. The article details the interview with the fashion designer – which includes info on the Paul Smith foundation that invests in young artists. Paul Smith also funds a scholarship at the Royal Academy of Arts.

“The idea is that [the foundation] will provide advice for creative people, whether you’re a young graphic designer or a chef, even,” Smith said. “Over the years, we’ve had so many people come to this building thinking that they want to be a fashion designer, and I say, ‘It’s lovely to be a fashion designer, but it’s a very oversubscribed job.’ My approach has always been to demystify the job and make it more understandable and, in a way, more accessible.”

Realtime Personalization 2/10

In case you didn’t notice – the brand did not drop a single point in the first four sections of this analysis. This is unprecedented.

Unfortunately, this is where the streak ends – as, in a similar fashion to most of the brands we analyzed, they too are behind the curve when it comes to realtime personalization.

When entering the website, we were able to choose our country/region, as shown below, to get a more personalized shopping experience.

When adding a white dress shirt to our bag, no cross-sell principles or upsell techniques were used by the brand whatsoever – too bad!

Though the following similar item suggestions were suggested when scrolling down the same page, when going back to the brand’s HP, nothing was altered to suit our product of interest –men’s dress shirts and coats.

Finally, when logging off the brand’s website and hopping on to our Facebook and Instagram accounts, no realtime retargeting efforts were made by Paul Smith.

Master UX 10/10

Alright – and we’re back to the perfect tens!

The first impression we got from the brand is that it has a simple, clean, and refined user interface and design. Navigating and browsing through the different categories is easy and fun.

The colors and the look-and-feel are excellent for the brand and reflect the retailer’s unique fashionable offering.

Also, when adding items to our cart, we were presented with an overview of the product including what it’s made of, how to care for it, sizing, shipping, and more – all very convenient for the modern online shopper.

The Paul Smith online shopping experience with a personal stylist, mentioned above – is clearly the cherry on top of a perfect user experience. What can be better than an in-house stylist helping a customer find what they’re looking for – just like a brick and motor shop? Virtual appointments are available Monday to Friday and to book one, customers need to fill in a form and choose an appointment time up to 2 weeks in advance.

Leverage Social Media 7/10

The brand has over 850K likes on Facebook, 150K followers on Twitter, and 425K on Instagram.

They post the same type of content on all three social networks mentioned above –mainly promoting their latest collections and offers.

Here and there, they add a touch of seasonal flavor:

And a bit from Paul Smith, himself:

 

View this post on Instagram

 

A post shared by Paul Smith (@paulsmithdesign)

Seems as if the brand is strictly sticking to fashion on social media – which might be intentional, but perhaps missing on the power of these platforms to push the bigger-picture agendas the brand promotes.

**

Overall, and even with the low score on the personalization section, Paul Smith is getting a 59/70 here (84%), placing them in 6th place. Brilliant work!

Clearly, the brand’s communications are very much aligned with what is expected of brands nowadays. But still, like most of the brands on our list below – Paul Smith is definitely lacking personalization as far as their CRM practices go, and customers deserve better here. With a solid 8/10 on personalization, they would be ranked first!

You can read more on personalization here and here.

Here are the full rankings of all the brands we analyzed to date:

  1. Pets at Home 91%
  2. Lowe’s 90%
  3. Petco 90%
  4. Target 87%
  5. Uniqlo 86%
  6. Paul Smith 84%
  7. Vrbo 83%
  8. N Brown Group 81%
  9. West Elm 81%
  10. The North Face 81%
  11. Holland and Barret 80%
  12. lululemon 80%
  13. Brooks Running 79%
  14. Best Buy 78%
  15. Nando’s 75%
  16. Etsy 76%
  17. The Body Shop 74%
  18. Gymshark 73%
  19. William Hill 73%
  20. Essence 72%
  21. Iceland Foods 71%
  22. Total Wine & More 70%
  23. Tommy Hilfiger 70%
  24. Walgreens 70%
  25. Kohl’s 70%
  26. United Colors of Benetton 69%
  27. Buy Buy Baby 68%
  28. Fiverr 67%
  29. Next 63%
  30. Patagonia 61%
  31. Express 60%
  32. Burberry 60%
  33. Zara 59%
  34. COS 57%
  35. Dream11 53%

We publish a new analysis every week, so watch this space for more brand analyses coming your way!

 

 

The post Paul Smith: Creatively Designing Customer Relationships? appeared first on Post Funnel.

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Agency Stats, Facts, & Trends: What You Must Know for 2021

Source: https://www.autogrow.co/agency-statistics-2021/

This past year we made some significant changes to our service.

The result?…

Our client list has literally erupted like a volcano 🌋—with clients who are mostly agencies like you by the way.

In 2021, none of us know what’s going to happen—the aliens may come to Earth

👽👽, an asteroid may smash into our computer screen ☄, or zombies can come back to life and take over the world 🧟‍♂️🧟‍♂️.

Who knows… 🤷‍♂️

But what I guarantee you is that despite all the chaos that 2021 may or may not bring, you can keep growing your client list, your leads, and your bank account.

It’s exactly what I did in 2020. And to be honest, it was our best year so far.

Now, as an agency owner yourself, you may think you’ve heard it all—all the tricks, hacks, steps, formulas, and secret codes to scale your agency with just that—pure magic and secrets 🔮.

But here’s the thing… You need a lot more than magic to scale your agency…

That’s why in this article, I’m going to tell you:

  • Why to ditch the secrets and magic for real data-driven research, trends, and statistics to start growing your agency 📈.
  • Mind-blowing facts, stats, and trends that you must NOT ignore because if you snooze, you lose 😴.
  • And how you can use all that research to your agency’s advantage to remain competitive 💰.

I’ve curated this data exclusively for agencies who are looking to thrive in 2021. Ready to start seeing how magic and tricks are not the only way to scale?…

In a rush? Want to download this article as a PDF so you can easily take action on it later? Click here to download this article as a PDF guide.

How Exactly Can Research, Statistics, & Trends Help My Agency Grow?

We live in a world where modern technology is constantly changing and evolving.

And because of it, consumer interests and behaviors are hard to predict.

Agency owners like you want to sign up more clients. Want to handle more and more clients’ accounts. And want to outsource when you can’t manage everything by yourself.

And all that comes down to really understanding your target audience.

You see, in order for you to ask for the sale, you need to first know who you’re selling to.

Makes sense?

You need to know what they need so you can sell them the right product.

Still making sense, right?

Customers and clients want great buying experiences and positive customer services that fulfill their needs and expectations.

Because honestly, who doesn’t?

But most of the time, business owners simply don’t know how to meet consumers or clients’ needs.

They don’t know the sales funnel strategies to keep customers flowing in. And as a result, they look for answers in the wrong places (i.e. so-called marketing gurus and crystal balls 🔮).

But the right answers can be easier to find that you think.

And that’s why I told you above that…

You Don’t Need Magic to Scale Your Business—You Need Data-Backed Research

That “magic” is often in numbers, in data, in research, in surveys.

It only takes knowing that according to X survey, “% of people who see a black CTA button on a landing page are more likely to click on it” to understand that you should make your CTAs black to get more people to click.

Not that that’s really the case because actually CTA buttons should NOT be black but bright (those are obvious conversion tactics for your landing pages that you should know).

But that’s a conversation for another day…

The point is, you wouldn’t know what color to use for your CTA buttons if it wasn’t for the data and research that said which is the highest converting color.

Source

So research, statistics, surveys, and trends help you gather the necessary data you need in order to better understand your audience and make better decisions for your company.

Let me put it this way.

You’re no longer wearing those stonewashed or ripped jeans, combat boots, Birkenstocks, and high top sneakers from the 80’s and 90’s, are you?

Nope.

You don’t because they’re no longer the trend. And because research says that people who actually dress like that are less likely to be accepted by society, you actually don’t dress that way.

See what I’m doing there?

The only reason why you’d be wearing those 80’s and 90’s outfits would be if they were trendy right now (which they kind of are right now but I don’t get fashion).

The same thing happens with your agency.

You need to proudly offer to clients whatever is selling out there. Whatever is the trend. Whatever your audience is claiming they want.

And you won’t know that with magic.

Those trends you need to consider are nothing more than a certain marketing strategy or approach that has been proven to work for determined businesses.

And that’s the only way you’ll guarantee you’ll actually establish yourself as an authority with prospects to make the sale.

Another example of this is, years ago, artificial intelligence was an ambitious concept. It seemed way too far off to be seriously considered.

It was more like science fiction than reality.

But in 2020, using AI to businesses’ advantage is among business owners’ top priorities simply to remain competitive.

Now what I’m trying to say is, in order for your business to thrive, you need to keep up with the trends because if you snooze, you know what happens. You lose.

So now that the top marketing trends for thriving in 2020 is in the past, without any further ado, let’s see what are the top statistics, facts, and trends that your agency should consider for 2021.

In turn, you’ll stay at the very top of the game!

Agency Statistics, Facts, & Trends to Consider for 2021:

There are trends for basically anything.

For technology, health, and fitness. For artificial intelligence, social media, and fashion.

There are also holiday shopping trends and statistics to help you spot the importance of online shopping and help you adjust your sales and marketing strategies to it.

And in order to grow your agency, you’ve got to be on top of these trends and statistics.

These are the statistics, facts, and trends that you should consider this year.

Agency Revenue Forecast per Industry in the U.S.

If you’re an agency owner or work for one, the agency industry is expected to be on the rise for years to come.

Here are some revenue predictions per industry…

Industry revenue of advertising agencies in the U.S. will surpass the $53b mark by 2024

The revenue of advertising agencies in the U.S. for 2024 is projected to be approximately $53.5 billion. (Statista)

Source

Industry revenue of travel agencies in the U.S. by 2024 will be almost $23b

The revenue of the travel agencies industry in the U.S. for 2024 is projected to amount approximately $22.9 billion. (Statista)

Source

Industry revenue of insurance agencies and brokerages in the U.S. by 2024 will exceed $157b

The revenue of the insurance agencies and brokerages in the U.S. by 2024 is projected to amount to approximately $157.2 billion. (Statista)

Industry revenue of media buying agencies in the U.S. will surpass the $7m mark by 2024

The revenue of the media buying agencies in the U.S. by 2024 is projected to amount to approximately $7.16 billion. (Statista)

Agencies Post COVID-19

Even though COVID-19 hit most businesses really hard, there were some that were able to actually thrive.

Here’s some data that proves it…

Digital agencies recommended email marketing as the main marketing channel during COVID-19

A survey of 130 digital agencies worldwide shows that 15% recommended their clients email marketing as the most effective marketing channel during the pandemic.

This was followed by web design and development, blog content, and paid social, each recommended by 13% of digital agency professionals (Statista).

There has been an increase in project work during COVID-19

As Chris Ronzio from Trainual told me once, where there’s chaos, there’s opportunity.

And proof of that is that, according to Sprout Social, 28% of agencies have actually seen an increase in project work during the pandemic.

So in case you’re wondering how to market your brand during the coronavirus, taking on more project work is the way to go.

Social media is key in age ncies’ package offers

Over of all agencies surveyed by Sprout Social said social is more integral to their client packages now than before the Corona Age.

And only 4% stated that social is an afterthought.

A minority of agencies had to discount prices during COVID-19

29% of agencies had to discount their pricing due to the pandemic. But 37% of agencies actually said that they didn’t modify their pricing at all. (Sprout Social)

Rural markets were more “immune” to the pandemic compared to urban locations

48% of agencies operating in rural markets say they haven’t modified their pricing process while 31% of agencies in urban locations didn’t either.

Andof agencies in an urban location say the pandemic forced them to offer discounted pricing compared to 18% of rural agencies. (Sprout Social)

Conversion Rate for Agencies

There are plenty of conversion rate case studies for eCommerce and for any business in general.

Let’s just take a look at what agencies are doing to improve their average website conversion rate.

The most common choice for hero images on agencies’ landing pages are people

According to Digital Third Coast, the most common choices for hero images that agencies use are:

  • People
  • Places
  • Things
  • Text/logo
  • Portfolio work

Source

“Think like people” is the most common tagline—Say what?

The most used taglines in agencies websites are:

  • “Think like people”
  • “Time to say what we mean and show results”
  • “Marketing is everywhere”

Source

Huh… can you come up with better headlines?

Remember to always follow the Law of Clarity—one of my favorite Laws of Sales Funnel Physics.

This law says that before people become interested and decide to buy your product, they must first understand what it is.

So better to be clear than clever.

Social Media

Social media keeps being on the rise.

And there are plenty of social media campaigns that you can apply for your agency.

But here are some stats, facts, and trends for your agency to consider regarding social media…

Social media management is the top social media service offered by agencies

The top social media services offered by agencies are social media management by 98%. That’s followed by social media strategy by 95%, content development by 94%, and social media analytics with 94%. (Sprout Social)

Source

Types of social media vary depending on the agency

Nor very surprising. But according to Sprout Social, the types of social media services offered vary depending on the agency type.

For example, when it comes to social analytics, only 86% of PR agencies offered this service compared to 95% of all agency respondents.

For paid social agencies it was 93%. On top of that, community management plays a prominent role in just 80% of agencies’ service offerings.

Top service offered in the Europe, Middle East and Africa region is social media management

For agencies in the Europe, Middle East, and Africa region, the top 3 services they offer are social media management (98%), social media strategy (93%), and social media analytics (91%) according to Sprout Social.

Source

Social media is key to Agencies’ package offers

According to Sprout Social, 70% of agencies say social is integral to their packages.

That’s because social media platforms like Facebook, Pinterest, or Facebook can help you and your clients drive more leads.

More than half of agencies struggle to educate their clients on the value of social media

54% of agencies actually struggle to educate their clients on the huge value and power of social media. This is because some clients don’t see the return on their investment in social, and in turn, they refuse to invest in it. (Sprout Social)

Agencies offer design and creative services second

80% of agencies surveyed said they provide creative and design services. 75% said they offer content marketing and 71% said email marketing. (Sprout Social)

Source

Biggest Pain Points Agencies Struggle With

There are big pain points and common mistakes that digital marketing agencies make.

Not to mention the main challenges growing agencies like you face,

Being an agency owner nowadays is tough. Especially if you don’t have the right tools in your digital marketing agency tool box.

But certainly, you’re not the only agency facing challenges.

Let’s see what other agencies are dealing with so you can find some solutions there…

Agencies’ biggest struggles are measuring and showing ROI

55% of agencies say their biggest challenges are measuring and showing ROI.

And the rest of the pain points they struggle with are growing their business, scope creep, lack of time or bandwidth, client churn, and working with clients who have shrinking budgets. (Sprout Social)

Source

That’s why we’ve made it so easy for agencies like you.

With AutoGrow, you can delegate any work (or your clients’ work) to us through our web app.

We do all the work for you so you don’t have to worry about any of the pain points above.

And best of all?

You get to sit back without having to monitor every single detail of the process because we do it all for you. AND you get 100% credit for the work you do for your clients.

Agencies struggle with their clients’ budgets

63% of agencies surveyed said client budget is their biggest pain point when it comes to pricing followed by educating clients on the value of social media (54%) and client expectations ( 51%).

Source

Creative Agencies also struggle with their clients’ budget

81% of creative agencies struggle to price their services because of their clients’ budgets and 75% struggle due to expectations. (Sprout Social)

Pricing, Margins, & Contracts

Do you prefer your service be based in long-term contracts or do you prefer them be month-to-month?

At AutoGrow, we actually offer our clients the flexibility to sign up for our 7-day $7 trial and cancel at any time.

No long-term contracts.

Well, actually, there are no contracts at all.

Now let’s see how agencies out there are charging their clients…

The majority of agencies offer their service on retainer

88% of agencies say they offer their services on retainer while 67% work on a project-basis and 42% on a campaign basis. (Sprout Social)

Most agencies offer long-term contracts to clients

Most agencies offer 6-12 month contracts to clients followed by a 12+ month contract and a 3-6 month contract. (Sprout Social)

Source

Half of PR agencies offer 12+ month contracts to clients

Half of PR agencies say their average contract lengths are over 12 months while social-first agencies offer month-to-month contracts. (Sprout Social)

Most agencies charge an average of $500-$999 per month

24% of agencies surveyed say they charge an average of $500-$999 per month. And 15% charge within the $1,000-$1,499 range. (Sprout Social)

Source

The minority of agencies don’t charge hourly rates

28% of agencies say they don’t offer hourly rates. And the ones who do charge between $100-$149 per hour for their social media services. (Sprout Social)

More than half of agencies have margins between 10-30%

59% of agencies say that their pricing process includes margins between 10-30%.

And 46% of agencies that built 50% of their margins into their pricing saw an average contract length of over 12 months compared to 20% of agencies with only 10-20% of their margins built in. (Sprout Social)

Almost 50% of agencies don’t pass through the costs of technology that they use for their clients

48% of agencies surveyed say they don’t pass through the costs of technology that they use for their clients. And of those who do, actually 56% say they build those costs into their monthly rates—while 29% add technology costs as a line item. (Sprout Social)

PR agencies charge the most

PR agencies charge the most and 23% of them actually charge over $4,000 per month on average for their social services.

On top of that, they were more likely than other agencies to pass through technology costs to their clients. 59% passed costs through compared to 37% of creative agencies who do the same.

Personalization

Leveraging the information you know about your users and website visitors will let you offer up personalized landing pages that present the most relevant information possible.

The visitors to your landing pages are not one and the same.

They think differently, come from different places, and want different things.

And that’s why you need to introduce personalization to your agency offerings.

Source

Let’s see these 2021 agency stats for personalizing your offers.

Most agencies create custom packages per client

According to Sprout Social, 83% of agencies create custom packages or proposals per client.

And that makes total sense because you can actually use personalization marketing to increase conversions.

Personalization is about taking all the information and data you have for a customer and creating a great user experience—one that compels them to take a desired action.

You can even personalize each of the emails you send.

So although it may seem like a lot of work, a lot of businesses are leaning towards personalization. In fact…

Agencies are offering more service package customization

According to Sprout Social, since the start of the Corona Age, 28% of agencies are offering more service package customization compared to previous years.

In fact, 8 out of 10 agencies provide customized packages per client. And 35% of agencies offer customizable standard pricing.

On top of that, 35% of agencies now offer a la carte pricing. This lets clients choose exactly what they need depending on their budget.

Source

Closing Sales

For closing more sales and signing up more clients to your agency, you need to first take a look at these mind-blowing 2021 agency stats.

These agency facts, stats—however you want to call them, are key to helping you understand your prospects better and to sell better to them too.

Let’s jump into these agency stats in 2021…

The majority of agencies say growing their business is a main pain point

93% of agencies count on referrals to drive new business. And 55% of agencies say growing their business is a top pain point. (Sprout Social)

Half of agencies are full-service agencies

50% of the agencies surveyed describe themselves as full-service agencies while 25% say their agency offerings fall into digital marketing. (Sprout Social)

Source

Conclusion

Download the “Agency Stats, Facts, & Trends: What You Must Know for 2021” so you won’t forget to take action on it later. Click here to download it now.

Hopefully after reading this article you will no longer wonder how to scale your agency in 2021.

These stats, facts, trends, and research points will help you on your way to growing your business, your client list, and your bank account.

All you have to do is pay attention to the numbers. To the surveys. To the research that tells you exactly what your audience wants and needs.

By being well-informed with data-driven research, you’ll be able to make better decisions for your business. And in turn, you’ll see more prospects signing up for your service.

But if you can’t handle your clients’ work by yourself, AutoGrow can help you.

You can delegate/outsource all of your or your clients’ work to AutoGrow through our web app.

Any digital marketing task or project you’d like us to do, we’ll do it while you take care of your business and we take care of your work.

Pretty good deal, huh?

Now tell me something.

Did any of the stats, facts, and trends I shared surprise you at all?

Did you recognize any mistakes you’re making in your own agency?

Do you now have a better understanding of what you can do to fix them?

Let me know in the comments below.

Keep AutoGrowin’, stay focused.

Read more

Agency Stats, Facts, & Trends: What You Must Know for 2021

Source: https://www.autogrow.co/agency-statistics-2021/

This past year we made some significant changes to our service.

The result?…

Our client list has literally erupted like a volcano 🌋—with clients who are mostly agencies like you by the way.

In 2021, none of us know what’s going to happen—the aliens may come to Earth

👽👽, an asteroid may smash into our computer screen ☄, or zombies can come back to life and take over the world 🧟‍♂️🧟‍♂️.

Who knows… 🤷‍♂️

But what I guarantee you is that despite all the chaos that 2021 may or may not bring, you can keep growing your client list, your leads, and your bank account.

It’s exactly what I did in 2020. And to be honest, it was our best year so far.

Now, as an agency owner yourself, you may think you’ve heard it all—all the tricks, hacks, steps, formulas, and secret codes to scale your agency with just that—pure magic and secrets 🔮.

But here’s the thing… You need a lot more than magic to scale your agency…

That’s why in this article, I’m going to tell you:

  • Why to ditch the secrets and magic for real data-driven research, trends, and statistics to start growing your agency 📈.
  • Mind-blowing facts, stats, and trends that you must NOT ignore because if you snooze, you lose 😴.
  • And how you can use all that research to your agency’s advantage to remain competitive 💰.

I’ve curated this data exclusively for agencies who are looking to thrive in 2021. Ready to start seeing how magic and tricks are not the only way to scale?…

In a rush? Want to download this article as a PDF so you can easily take action on it later? Click here to download this article as a PDF guide.

How Exactly Can Research, Statistics, & Trends Help My Agency Grow?

We live in a world where modern technology is constantly changing and evolving.

And because of it, consumer interests and behaviors are hard to predict.

Agency owners like you want to sign up more clients. Want to handle more and more clients’ accounts. And want to outsource when you can’t manage everything by yourself.

And all that comes down to really understanding your target audience.

You see, in order for you to ask for the sale, you need to first know who you’re selling to.

Makes sense?

You need to know what they need so you can sell them the right product.

Still making sense, right?

Customers and clients want great buying experiences and positive customer services that fulfill their needs and expectations.

Because honestly, who doesn’t?

But most of the time, business owners simply don’t know how to meet consumers or clients’ needs.

They don’t know the sales funnel strategies to keep customers flowing in. And as a result, they look for answers in the wrong places (i.e. so-called marketing gurus and crystal balls 🔮).

But the right answers can be easier to find that you think.

And that’s why I told you above that…

You Don’t Need Magic to Scale Your Business—You Need Data-Backed Research

That “magic” is often in numbers, in data, in research, in surveys.

It only takes knowing that according to X survey, “% of people who see a black CTA button on a landing page are more likely to click on it” to understand that you should make your CTAs black to get more people to click.

Not that that’s really the case because actually CTA buttons should NOT be black but bright (those are obvious conversion tactics for your landing pages that you should know).

But that’s a conversation for another day…

The point is, you wouldn’t know what color to use for your CTA buttons if it wasn’t for the data and research that said which is the highest converting color.

Source

So research, statistics, surveys, and trends help you gather the necessary data you need in order to better understand your audience and make better decisions for your company.

Let me put it this way.

You’re no longer wearing those stonewashed or ripped jeans, combat boots, Birkenstocks, and high top sneakers from the 80’s and 90’s, are you?

Nope.

You don’t because they’re no longer the trend. And because research says that people who actually dress like that are less likely to be accepted by society, you actually don’t dress that way.

See what I’m doing there?

The only reason why you’d be wearing those 80’s and 90’s outfits would be if they were trendy right now (which they kind of are right now but I don’t get fashion).

The same thing happens with your agency.

You need to proudly offer to clients whatever is selling out there. Whatever is the trend. Whatever your audience is claiming they want.

And you won’t know that with magic.

Those trends you need to consider are nothing more than a certain marketing strategy or approach that has been proven to work for determined businesses.

And that’s the only way you’ll guarantee you’ll actually establish yourself as an authority with prospects to make the sale.

Another example of this is, years ago, artificial intelligence was an ambitious concept. It seemed way too far off to be seriously considered.

It was more like science fiction than reality.

But in 2020, using AI to businesses’ advantage is among business owners’ top priorities simply to remain competitive.

Now what I’m trying to say is, in order for your business to thrive, you need to keep up with the trends because if you snooze, you know what happens. You lose.

So now that the top marketing trends for thriving in 2020 is in the past, without any further ado, let’s see what are the top statistics, facts, and trends that your agency should consider for 2021.

In turn, you’ll stay at the very top of the game!

Agency Statistics, Facts, & Trends to Consider for 2021:

There are trends for basically anything.

For technology, health, and fitness. For artificial intelligence, social media, and fashion.

There are also holiday shopping trends and statistics to help you spot the importance of online shopping and help you adjust your sales and marketing strategies to it.

And in order to grow your agency, you’ve got to be on top of these trends and statistics.

These are the statistics, facts, and trends that you should consider this year.

Agency Revenue Forecast per Industry in the U.S.

If you’re an agency owner or work for one, the agency industry is expected to be on the rise for years to come.

Here are some revenue predictions per industry…

Industry revenue of advertising agencies in the U.S. will surpass the $53b mark by 2024

The revenue of advertising agencies in the U.S. for 2024 is projected to be approximately $53.5 billion. (Statista)

Source

Industry revenue of travel agencies in the U.S. by 2024 will be almost $23b

The revenue of the travel agencies industry in the U.S. for 2024 is projected to amount approximately $22.9 billion. (Statista)

Source

Industry revenue of insurance agencies and brokerages in the U.S. by 2024 will exceed $157b

The revenue of the insurance agencies and brokerages in the U.S. by 2024 is projected to amount to approximately $157.2 billion. (Statista)

Industry revenue of media buying agencies in the U.S. will surpass the $7m mark by 2024

The revenue of the media buying agencies in the U.S. by 2024 is projected to amount to approximately $7.16 billion. (Statista)

Agencies Post COVID-19

Even though COVID-19 hit most businesses really hard, there were some that were able to actually thrive.

Here’s some data that proves it…

Digital agencies recommended email marketing as the main marketing channel during COVID-19

A survey of 130 digital agencies worldwide shows that 15% recommended their clients email marketing as the most effective marketing channel during the pandemic.

This was followed by web design and development, blog content, and paid social, each recommended by 13% of digital agency professionals (Statista).

There has been an increase in project work during COVID-19

As Chris Ronzio from Trainual told me once, where there’s chaos, there’s opportunity.

And proof of that is that, according to Sprout Social, 28% of agencies have actually seen an increase in project work during the pandemic.

So in case you’re wondering how to market your brand during the coronavirus, taking on more project work is the way to go.

Social media is key in age ncies’ package offers

Over of all agencies surveyed by Sprout Social said social is more integral to their client packages now than before the Corona Age.

And only 4% stated that social is an afterthought.

A minority of agencies had to discount prices during COVID-19

29% of agencies had to discount their pricing due to the pandemic. But 37% of agencies actually said that they didn’t modify their pricing at all. (Sprout Social)

Rural markets were more “immune” to the pandemic compared to urban locations

48% of agencies operating in rural markets say they haven’t modified their pricing process while 31% of agencies in urban locations didn’t either.

Andof agencies in an urban location say the pandemic forced them to offer discounted pricing compared to 18% of rural agencies. (Sprout Social)

Conversion Rate for Agencies

There are plenty of conversion rate case studies for eCommerce and for any business in general.

Let’s just take a look at what agencies are doing to improve their average website conversion rate.

The most common choice for hero images on agencies’ landing pages are people

According to Digital Third Coast, the most common choices for hero images that agencies use are:

  • People
  • Places
  • Things
  • Text/logo
  • Portfolio work

Source

“Think like people” is the most common tagline—Say what?

The most used taglines in agencies websites are:

  • “Think like people”
  • “Time to say what we mean and show results”
  • “Marketing is everywhere”

Source

Huh… can you come up with better headlines?

Remember to always follow the Law of Clarity—one of my favorite Laws of Sales Funnel Physics.

This law says that before people become interested and decide to buy your product, they must first understand what it is.

So better to be clear than clever.

Social Media

Social media keeps being on the rise.

And there are plenty of social media campaigns that you can apply for your agency.

But here are some stats, facts, and trends for your agency to consider regarding social media…

Social media management is the top social media service offered by agencies

The top social media services offered by agencies are social media management by 98%. That’s followed by social media strategy by 95%, content development by 94%, and social media analytics with 94%. (Sprout Social)

Source

Types of social media vary depending on the agency

Nor very surprising. But according to Sprout Social, the types of social media services offered vary depending on the agency type.

For example, when it comes to social analytics, only 86% of PR agencies offered this service compared to 95% of all agency respondents.

For paid social agencies it was 93%. On top of that, community management plays a prominent role in just 80% of agencies’ service offerings.

Top service offered in the Europe, Middle East and Africa region is social media management

For agencies in the Europe, Middle East, and Africa region, the top 3 services they offer are social media management (98%), social media strategy (93%), and social media analytics (91%) according to Sprout Social.

Source

Social media is key to Agencies’ package offers

According to Sprout Social, 70% of agencies say social is integral to their packages.

That’s because social media platforms like Facebook, Pinterest, or Facebook can help you and your clients drive more leads.

More than half of agencies struggle to educate their clients on the value of social media

54% of agencies actually struggle to educate their clients on the huge value and power of social media. This is because some clients don’t see the return on their investment in social, and in turn, they refuse to invest in it. (Sprout Social)

Agencies offer design and creative services second

80% of agencies surveyed said they provide creative and design services. 75% said they offer content marketing and 71% said email marketing. (Sprout Social)

Source

Biggest Pain Points Agencies Struggle With

There are big pain points and common mistakes that digital marketing agencies make.

Not to mention the main challenges growing agencies like you face,

Being an agency owner nowadays is tough. Especially if you don’t have the right tools in your digital marketing agency tool box.

But certainly, you’re not the only agency facing challenges.

Let’s see what other agencies are dealing with so you can find some solutions there…

Agencies’ biggest struggles are measuring and showing ROI

55% of agencies say their biggest challenges are measuring and showing ROI.

And the rest of the pain points they struggle with are growing their business, scope creep, lack of time or bandwidth, client churn, and working with clients who have shrinking budgets. (Sprout Social)

Source

That’s why we’ve made it so easy for agencies like you.

With AutoGrow, you can delegate any work (or your clients’ work) to us through our web app.

We do all the work for you so you don’t have to worry about any of the pain points above.

And best of all?

You get to sit back without having to monitor every single detail of the process because we do it all for you. AND you get 100% credit for the work you do for your clients.

Agencies struggle with their clients’ budgets

63% of agencies surveyed said client budget is their biggest pain point when it comes to pricing followed by educating clients on the value of social media (54%) and client expectations ( 51%).

Source

Creative Agencies also struggle with their clients’ budget

81% of creative agencies struggle to price their services because of their clients’ budgets and 75% struggle due to expectations. (Sprout Social)

Pricing, Margins, & Contracts

Do you prefer your service be based in long-term contracts or do you prefer them be month-to-month?

At AutoGrow, we actually offer our clients the flexibility to sign up for our 7-day $7 trial and cancel at any time.

No long-term contracts.

Well, actually, there are no contracts at all.

Now let’s see how agencies out there are charging their clients…

The majority of agencies offer their service on retainer

88% of agencies say they offer their services on retainer while 67% work on a project-basis and 42% on a campaign basis. (Sprout Social)

Most agencies offer long-term contracts to clients

Most agencies offer 6-12 month contracts to clients followed by a 12+ month contract and a 3-6 month contract. (Sprout Social)

Source

Half of PR agencies offer 12+ month contracts to clients

Half of PR agencies say their average contract lengths are over 12 months while social-first agencies offer month-to-month contracts. (Sprout Social)

Most agencies charge an average of $500-$999 per month

24% of agencies surveyed say they charge an average of $500-$999 per month. And 15% charge within the $1,000-$1,499 range. (Sprout Social)

Source

The minority of agencies don’t charge hourly rates

28% of agencies say they don’t offer hourly rates. And the ones who do charge between $100-$149 per hour for their social media services. (Sprout Social)

More than half of agencies have margins between 10-30%

59% of agencies say that their pricing process includes margins between 10-30%.

And 46% of agencies that built 50% of their margins into their pricing saw an average contract length of over 12 months compared to 20% of agencies with only 10-20% of their margins built in. (Sprout Social)

Almost 50% of agencies don’t pass through the costs of technology that they use for their clients

48% of agencies surveyed say they don’t pass through the costs of technology that they use for their clients. And of those who do, actually 56% say they build those costs into their monthly rates—while 29% add technology costs as a line item. (Sprout Social)

PR agencies charge the most

PR agencies charge the most and 23% of them actually charge over $4,000 per month on average for their social services.

On top of that, they were more likely than other agencies to pass through technology costs to their clients. 59% passed costs through compared to 37% of creative agencies who do the same.

Personalization

Leveraging the information you know about your users and website visitors will let you offer up personalized landing pages that present the most relevant information possible.

The visitors to your landing pages are not one and the same.

They think differently, come from different places, and want different things.

And that’s why you need to introduce personalization to your agency offerings.

Source

Let’s see these 2021 agency stats for personalizing your offers.

Most agencies create custom packages per client

According to Sprout Social, 83% of agencies create custom packages or proposals per client.

And that makes total sense because you can actually use personalization marketing to increase conversions.

Personalization is about taking all the information and data you have for a customer and creating a great user experience—one that compels them to take a desired action.

You can even personalize each of the emails you send.

So although it may seem like a lot of work, a lot of businesses are leaning towards personalization. In fact…

Agencies are offering more service package customization

According to Sprout Social, since the start of the Corona Age, 28% of agencies are offering more service package customization compared to previous years.

In fact, 8 out of 10 agencies provide customized packages per client. And 35% of agencies offer customizable standard pricing.

On top of that, 35% of agencies now offer a la carte pricing. This lets clients choose exactly what they need depending on their budget.

Source

Closing Sales

For closing more sales and signing up more clients to your agency, you need to first take a look at these mind-blowing 2021 agency stats.

These agency facts, stats—however you want to call them, are key to helping you understand your prospects better and to sell better to them too.

Let’s jump into these agency stats in 2021…

The majority of agencies say growing their business is a main pain point

93% of agencies count on referrals to drive new business. And 55% of agencies say growing their business is a top pain point. (Sprout Social)

Half of agencies are full-service agencies

50% of the agencies surveyed describe themselves as full-service agencies while 25% say their agency offerings fall into digital marketing. (Sprout Social)

Source

Conclusion

Download the “Agency Stats, Facts, & Trends: What You Must Know for 2021” so you won’t forget to take action on it later. Click here to download it now.

Hopefully after reading this article you will no longer wonder how to scale your agency in 2021.

These stats, facts, trends, and research points will help you on your way to growing your business, your client list, and your bank account.

All you have to do is pay attention to the numbers. To the surveys. To the research that tells you exactly what your audience wants and needs.

By being well-informed with data-driven research, you’ll be able to make better decisions for your business. And in turn, you’ll see more prospects signing up for your service.

But if you can’t handle your clients’ work by yourself, AutoGrow can help you.

You can delegate/outsource all of your or your clients’ work to AutoGrow through our web app.

Any digital marketing task or project you’d like us to do, we’ll do it while you take care of your business and we take care of your work.

Pretty good deal, huh?

Now tell me something.

Did any of the stats, facts, and trends I shared surprise you at all?

Did you recognize any mistakes you’re making in your own agency?

Do you now have a better understanding of what you can do to fix them?

Let me know in the comments below.

Keep AutoGrowin’, stay focused.

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