Marketing agencies spend a lot of time (blood, sweat and tears) creating proposals for clients that ultimately lead nowhere…they either need to be redone, or they simply fade away into a cloud of inaction. In an increasingly competitive marketplace coupled with the fact that many companies believe the informal and digital nature of marketing today means they can “do it themselves,” a lot of agencies are out of new ideas for generating long-term business.
In a recent post, BlogMutt cultivates the idea that focusing on content marketing is a good strategy for agencies to grow long-term business relationships with clients that result in recurring revenue, something that doesn’t happen with one-time projects such as Web sites. Projects with a start date and an end date aren’t something for a company to ignore, but open-ended projects that allow agencies to better predict and normalize their revenue are better. This is where content marketing comes in.
“Content strategy can be a common thread throughout each client project,” according to BlogMutt. “Ongoing relationships with existing clients
can be the key to success. Across industries, retaining current customers is cheaper and results in higher profits than acquisition. The lifetime value of clients to your agency naturally increases over time. Providing content strategies can help you get to that desirable long-term relationship. Focusing your efforts on providing continuous services for existing clients is significantly more effective than focusing on one-off projects.”
Companies attempting to do content marketing on their own are experiencing hit and miss success. (Generally, more misses than hits.) It’s one thing to come up with the content, but it’s another thing to get the content into the right place at the right time at the right pace. This is where companies should be relying on the expertise of agencies, who have skill sets, analytics tools and experience that most marketing departments lack today. Focusing on content could also raise the profile of agencies that are tired of being treated like production houses.
“Content strategy shifts an agency’s perception from being project-based to strategy-based,” according to BlogMutt. “Unlike an agency that does one project in a vacuum, an agency adopting a content strategy helps maintain a common thread throughout the relationship with the client. By providing content strategy and creation services to your client, you can bring a one-off project full-circle. One-off projects become part of a bigger content marketing picture. You have also created a recurring revenue stream, establishing a lasting relationship with your client that will only grow in the future.”
Getting your customers to understand the importance of professional content and the ongoing nature of this type of marketing will require agencies to engage in some education. A single well executed content marketing campaign will go a long way toward helping clients understand the potential, and the part that an agency has to play in long-term success.