The CEO of UGurus, Brent Weaver, instructs digital agencies on how to own their market brand. He began from square one. He built and scaled a business to seven figures. He is currently on a quest to help 10,000 owners of digital agencies prepare for this in their industry in order to help them attain independence in both company and life. His book "Get Rich in the Deep End" demonstrates how to scale your agency and select a niche.
It is possible to overcome referrals and add at least 100K in new business in the next 12 months by following Damien's market-driven approach. This approach focuses on choosing an audience and then becoming a leader of that market. I have personally seen great success when implementing this strategy, resulting in over $20 million dollars in revenue for my businesses. This market-driven strategy allows businesses to own their markets, providing them with an advantage that can help overcome the need for referrals. By researching the competition and understanding your target audience, you can create a unique approach that will set you apart from the rest. Focus on creating relationships with potential clients and building trust to ensure oneself as market leader.
To ensure success in selling your retainers and applications, it's essential to focus on building relationships rather than just convincing or manipulating people. Business success can be achieved by offering value to potential customers and by properly communicating the benefits they can gain from working with you. To ensure you're consistently attracting the right types of leads, create a referral system that rewards potential referrals and prioritizes communication through emails, direct messages, calls, etc. By using these tools, potential customers will more easily understand the value of what you offer and it will be easier for them to trust you. Through careful strategy and thoughtful communication skills, your chances of running a successful business can be significantly increased.
Companies with employees have an average annual revenue of 3.6 million, and yet now there are fewer, down from 23 million to 5 million. But why is this important? The 7% rule suggests that companies should spend 7% of their annual revenue on activities like advertising and marketing for their business; These activities can include referrals, communication and lead creation which will ultimately increase the customer base. Companies in certain industries may not need to spend the entire 7%; for example, restaurants can get by with 2-3%, but may need to spend more on prime locations to attract customers. Overall, understanding these numbers can help businesses maximize efficiency through thoughtful planning.
Business owners are often overwhelmed by the multitude of marketing tips, blogs, platforms, webinars, newsletters, associations, and other websites designed to help you find customers. It is important to remember that it is not necessary to do everything. By focusing on a select few ways to communicate with leads and referrals, it is possible to build our business sustainably. For example, if you spend two hours a week on your marketing strategy and have five target niches, you can focus on creating content for one blog each week, leaving you more time to engage with new customers and nurture existing ones.
Businesses need to make sure that they are highlighting their unique skills and qualities above all else when trying to attract customers or potential customers. References are great, but too often people focus on what others in the industry have achieved without considering their own approach and values. Entrepreneurs who rise to the challenge of creating content and communicating with potential customers directly will have a key advantage over other competitors as they can use their own distinct perspective to offer insights that no one else can provide. By understanding that every journey is different and not comparing themselves to those far ahead of them, companies will be able to truly highlight what makes them different rather than what makes them similar.
Ultimately, if you want to build a sustainable and successful revenue growth engine for your business, focus on a niche. It really is that simple. Identify the hungriest group of people in your market and go serve them. Build an offering they can't refuse, execute with excellence, scale accordingly...and be sure to let us know how you do! We always love hearing from our readers about their successes (or even failures - we learn from them too). Before you start focusing on targeting a specific niche audience, check out this post on finding your target market for some tips and guidance.