“There are three ways to grow a firm in this industry. You can find new clients off the street, growth through mergers and acquisitions, or by developing your current clients into more revenue – organic growth. The term organic growth has become quite popular in the past couple years in agency land as clients demand more strategy in their relationships, which in turn creates the need for more focus on them.” – Joe Olsen, Birdsnest CEO and Co-Founder, 5 Tenets of Accelerated Organic Growth for Agencies
As part of Birdsnest’s ongoing webinar series, each week we share the most recent findings from our Organic Growth Benchmark Assessment. Over one hundred agencies have now taken the Benchmark Assessment and while your answers are entirely private, we share our overall findings for agencies to get a better idea of what others in the industry are doing to compete for shared client dollars.
Here’s our findings to date (plus our analysis and insight) from just one section of the Organic Growth Benchmark Assessment – Targets and Strategy. Tune into our weekly webinar to hear more on our findings, receive additional analysis and learn how instilling a culture with success as your shared deliverable will accelerate current client growth. Also, if you haven’t taken the Organic Growth Benchmark Assessment, there’s still time – click the link, enter your email so we can send you the results and in just 25 questions, you’ll see how your agency stacks up! Now to our findings…
Targets & Strategy Findings:
86% of agencies have a revenue growth target
A revenue growth target is essential to the success of modern agencies – and in creating a profitable growth strategy, which will provide your team with guidance and direction, facilitate planning, motivate and inspire employees and help you evaluate and control performance.
71% have their growth target broken out between organic growth and new clients
Our findings indicate that agencies who aren’t developing, articulating and leveraging an organic growth strategy agency-wide are not realizing the potential of current client opportunities and as a result, failing to optimize current relationships through strategic client development.
43% of agencies are proactively sharing revenue goals agency-wide
Growth targets and goals are great. But in order to keep your team aligned, they need to know what they are, how they play a part and how they’re doing. Build a culture around agency success. Agencies lacking specific goals, KPIs, incentive models and tools to hold their teams accountable are often missing out on opportunity, money and time.
As an agency leader, disseminate your growth goals and a measurable plan for success to the team. Identify and articulate who is responsible for what within their roles, instill accountability and a process to ensure success that includes the necessary resources and tools to accelerate organic growth and reach your agency’s full potential.
Take the Organic Growth Benchmark Assessment
Take our Organic Growth Benchmark Assessment now to discover how your agency is currently positioned for organic growth. Your results will be compiled and contrasted against similar agencies, which we’ve identified as the premiere organic growth organizations today. You’ll receive a custom report with your results and analysis after completing the assessment.