I run a dev agency and until recently my source of income was just from personal network and referrals. Then I hit dead-end. I could not increase my rates since the referrals also wanted me to do the job for same rates as previous clients. I really did not have much options to say no because I had no sales guys to acquire new clients.
So month after month I ran my agency with very little margins after all expenses, I am sure many agency owners can relate to this!
Referrals are wonderful, but are they enough for you to scale your business?
So then I decided and started investing on digital marketing and sales, and I can see the difference now. I have already landed with 2 new projects with higher rates than before through my marketing efforts!
I know this is basics, but according to hubspot reports 47% of agencies are stuck with same problem! something to really think about :)
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