The COVID-19 pandemic has certainly had an impact on digital marketing agencies large and small. But the reality of business models is that small Photo Background Removing and large agencies feel the impact very differently. Large agencies often have to worry about multiple employees and expensive office rentals, which can lead to limited pricing flexibility. With more overhead, there can be more financial risk. That's why many big agencies are cutting internal costs to stay afloat while dealing with the fact that they're losing clients right now. graph of decline in store visits With so Photo Background Removing many businesses closed, agencies large and small are struggling to stay afloat (COVID-19 Business Trends) For small agencies and individual entrepreneurs, the loss of clients can be even more detrimental to the business.
However, with limited overhead, smaller agencies often have more flexibility to change tactics or shift focus to continue during this economic down town. In this article, I'll go over six strategies that can help you and your small paid media agency operate: Understand Photo Background Removing the impact for each customer Be as flexible as possible Offer more value where you can Consider different types of customers Prioritize strategic planning Configure client accounts for recovery 1. Understand the impact for each customer No matter how many customers you have, you'll want to assess the impact of COVID-19 on each one individually. If you specialize in a particular industry, chances are that all of your customers have been affected equally. However, if they span multiple industries, Photo Background Removing you'll want to understand each company's unique impact. Enlarge image Covid-Benchmarks-Big-CTR Auditing the performance of your client portfolio is important for assessing what needs to be done, from damage control to strategic change.
You'll want to identify which customers are most at risk of churn and what needs to be done (or can be done) to retain their business. It will also benefit your Photo Background Removing business by allowing you to identify less impacted customers. It can also give you the opportunity to double your budget, offer Photo Background Removing more services, and suggest creative solutions to branch out into other paid channels. Understanding the environment and where to put your time and effort is a useful skill for any digital marketer, but it's essential right now. Auditing your customer portfolios is also important when it comes to your customer relationships . You will want to understand their situation Photo Background Removing and identify ways Photo Background Removing to maximize your current value to them. Losing customers in certain situations is unavoidable as many businesses are directly affected by the economic lockdown.