In this segment of The Agency Master Class, I've got Spencer Gallagher as my guest. He's talking today about why and how you should select a niche for your agency to find your ideal clients. In 1999, Spencer created one of the UK's top digital agencies leading it to a successful acquisition in 2008.

Afraid To Specialize and Turn Off Potential Clients?

You aren't alone. Most agency owners feel the need to market their services across the board and accept any work thrown at them. They fear the implications of turning down work and worry that having a specialization will result in less consideration by potential clients. They try to model the big guys who seem to be able to do everything.

Truth is, you can't do it all and your ideal clients will respect you for it.

In Spencer's case, he was spending his limited marketing budget casting a wide net. He was pitching many different types of jobs in many different disciplines. (Sound familiar?) Taking a step back, he decided to try a more targeted marketing approach. He directed his attention to sports marketing. Not only did this move give him focus, he became a respected authority in the field and had an edge against the generalists who were pitching the same clients. Declaring a specialization and becoming laser-focused resulted in 300% growth in the first 24 months.

So, How Do You Select A Niche?

You can start by asking yourself: "Who, how, why, and where do I do what I do?" Which one or two of these areas will help you narrow your proposition? Consider a horizontal or vertical niche… choose a service and/or a market area you can dominate. Use marketing intel to be sure it's an area with growing service needs and be certain it's something you are passionate about.

There is a Direct Correlation Between Focus and Winning Large Brands

Big brands attract better talent. As you bring in more talent, you can open to new niches and appoint specialized account teams who are experts in the category. This level of service will position your agency as an authority. Once that's established, your ideal clients will be knocking on your door! And remember, declaring a niche doesn't mean you have to turn down work - it's just a marketing focus and positioning statement.

Need Help Identifying Your Focus Area?

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What Do You Do When You Have Your Ideal Clients?

Are there other areas of your business you want to improve? By evaluating other areas of weakness within your agency, you can create a better business and improve as an agency owner. And the best thing about it is, I can help you get through all of it.

I can give you support and advice on many topics from what to do when you want to speed up sales processes, ways to increase your business profit margins, or how you can build an authority for your agency.

Growing your agency can be a major struggle for any agency owner and I can show you the different phases of growth you will experience, how placing a process for performance-based pricing can be the best pricing strategy for your business, and the three questions you need to ask yourself to sell more!

Learn about my career and different experiences as well as tips, tricks, and insights by checking out my blogs that cover a wide variety of topics.

Find more from my Ask Swenk series and more of my videos on my YouTube channel. There you will find advice from me and other agency experts.