Adding new services can unlock new opportunities, and help you better equip your clients for success. In this article, I go over common hurdles to adding new agency services and how to overcome them. We’ll look at sales, pricing, staffing, and more.
Does your agency sell marketing advice? Or business advice? Clients pay more for business advice. And they pay even more for business results. It’s all about packaging and positioning, to drive higher value… and thus higher prices. But if your packaging doesn’t reflect the value, you’ll have trouble charging a higher price.
Determining your agency pricing can get complicated, especially when you work with a mix of international freelancers and in-house agents. However, it isn’t all about the numbers. Here’s my philosophy when it comes to agency pricing.
If you’ve ever wanted to hire someone better than you could afford, you sought to exploit an arbitrage opportunity. In short, arbitrage is paying a below-market rate… or receiving above-market compensation. Arbitrage opportunities take time to find. Let’s look at how you can benefit from arbitrage at your agency.