Most businesses, no matter their size, are always looking to grow and expand. Digital agencies are no different. Whether the agency is just starting out or has been around for a decade, growth is often among the digital agency’s top goals. Growth can mean different things to different people. To some, growth could mean getting new clients. To others, it could be opening a second location. As digital marketing resellers, here are some key ways we see digital agencies grow.
Headcount Growth
Sometimes, digital agencies dream of growing to include more staff members who can perform more services for their clients. Headcount growth refers to employing new people to fill new positions in a business, thereby increasing the total number of employees (or headcount) working at a business. It’s important to note that headcount growth is not simply creating new positions to fill for the sake of having more employees. New staff should be brought in with purpose and add value to the digital agency.
New Products And Services
When a digital agency excels at providing its current offering, it may be presented with the opportunity to do even more. Offering new products and services is a type of growth that may go hand-in-hand with headcount growth, bringing in new talent that brings new skills and knowledge to the table. The more high-quality services a digital agency offers, the more appealing they are likely to be to new clients.
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Revenue Growth
Many digital agencies’ growth goals focus on increasing the amount of money coming in. Some agencies aim to increase the amount of revenue they bring in at the end of each month, quarter, year or any other time period. Revenue growth refers to increasing the total amount of income generated by the agency’s operations. It does not take into account the company’s expenses and is therefore different from profit growth.
Profit Growth
No digital agency should be a stranger to the concept of profit. There are different kinds of profit that are used to analyse different kinds of company performance, including gross profit, net profit and operating profit. Wanting to increase the amount of profit the business brings in is a relatively common goal for businesses, digital agencies included. There is more than one way to increase profit, including bringing in more revenue, increasing markup and reducing expenses.
Customer Base Growth
Another common goal for digital agencies is to bring in more clients. Growing a business’s customer base typically leads to other kinds of growth. For instance, bringing in new clients will result in increased revenue and (hopefully) increased profit. More clients often require more hands on deck, resulting in headcount growth.
Interested in finding out more about how to grow your digital agency? Head on over to our YouTube channel, Globital TV, to learn more. Looking for a white label SEO reseller to help your digital agency with client work? The team at Globital UK are expert digital marketing resellers who are more than able to help out. Contact us at support@globitalmarketing.com to find out more.
