Demystifying Small Agency Success
Why I'm on a Mission to Crack the Code For Small Marketing Agencies
Small marketing agencies are the lifeblood of small businesses. They are the perfect partner for countless businesses by providing specific marketing expertise or comprehensive services at a price point that bookshops to biotech firms can afford. These agencies are nimble, innovative, and passionate – but they also face unique challenges that can make sustainable growth feel like an uphill battle.
The market looks good for marketing services: for a $900B industry, the U.S. sector is fragmented with the top 50 ad agencies comprising less than 50% of revenue. It’s a growing industry with a relatively low barrier to entry and thousands of niches.
For Learn to Scale, this is a place where we can make an impact. Lots of small disruptive businesses that need training and support to survive in a competitive environment that’s been growing and projected to grow more?
Hell yes, we’re here for it.
As a seasoned learning professional and business coach, I've always been fascinated by the dynamics of small agency success. What makes some thrive while others struggle? Why do some agencies consistently attract top talent and high-profile clients, while others seem perpetually stuck in the feast-or-famine cycle?
These questions sparked my latest research project: a deep dive into the world of small agencies. Through interviews, surveys, and data analysis, I've been exploring the common pain points, leadership styles, and success factors that shape the small agency landscape.
Snapshot of our research notes during the Summer of 2024
Key Insights:
Here's a sneak peek at some of the insights that have emerged so far:
Leadership Styles: Small agency leaders come from diverse backgrounds but tend to group into three buckets, each with its own strengths and blind spots.
"Solopreneurs with a Network" bring deep expertise and a lifestyle-first approach.
"Challenger Firms" are often driven by a desire for greater creative freedom and client intimacy.
"Big-Small Agencies" have achieved a degree of scale but may struggle with maintaining their entrepreneurial spirit.
Common Challenges:
Feast-or-Famine Growth: The constant struggle to balance client work with new business development.
"Winging It" Syndrome: A lack of formal business training and strategic planning leaves success up to chance.
Communication & Culture Issues: The importance of open communication and a people-first culture is strongly correlated with business success…and failure.
What Success Looks Like:
People-First Culture: Prioritizing employee well-being and creating a sense of belonging.
Streamlined Operations: Efficient processes and systems that free up time for creativity and client focus.
Financial Stability: Achieving a level of recurring revenue that enables long-term planning and investment.
We’ll be diving into these insights through a blog series and through the Learn to Scale newsletter, the TL;DR (make sure to subscribe!).
At Learn to Scale, everyone learns: we want all agencies to have the opportunity to get a little bit better. We’ve always been driven to enable others to learn, to set a mindset that everyone can learn, and help teams set the expectations that everyone should learn.
Agencies- get ready to learn.
Introducing the Small Agency Assessment
Armed with these insights, I've developed a Small Agency Assessment designed to help agency leaders gain a clearer picture of their strengths, weaknesses, and opportunities for growth.
This assessment is not a one-size-fits-all solution. It's a personalized roadmap, tailored to your unique agency context and leadership style. By identifying your blind spots and highlighting areas for improvement, the assessment empowers you to make informed decisions that drive sustainable growth.
Not only that, but I’ll be dropping hot tips of ways to grow your agency, whether it’s moving to a simpler project management tool, trimming extraneous offerings, enhancing team meeting structure, or even avoiding a shiny distraction that’s misaligned with your core business.
We’re a solutions-oriented kind of team here at Learn to Scale.
Why Take the Assessment?
Gain Clarity: Understand your agency's current position and identify areas for improvement.
Make Informed Decisions: Develop a strategic roadmap for growth based on data-driven insights. An outside perspective is often a catalyst leaders need to make the decisions that have been postponed for a while.
Unlock Your Potential: Break through barriers - subconscious or otherwise- and achieve your agency's full potential.
Stay Tuned!
I'll be sharing more insights and findings from my research in the coming weeks. In the meantime, if you're ready to take the first step toward transforming your agency, consider taking the Small Agency Assessment.
We’ve cracked the code- let us share the cheat code to success.
