In this week’s issue, I’ll cover the reasons you’ll want to avoid offering exclusivity to clients (yes, even in highly competitive niches) PLUS invite you to our live training at the end of the month.
🤖 Agency Offer Tip: Should You Offer Exclusivity to Clients?
Exclusivity can offer a sense of security and a guaranteed stream of business. But what you get in security, you lose in your ability to grow your agency.
Limited Growth Potential: By tying yourself exclusively to one client, you will limit your ability to grow. Period. End of sentence.
There are so many businesses that need marketing help, and you’ve closed off your chance to work with any of them. If that’s not a growth restriction, I don’t know what is!
Kills Scalability: The best agencies have processes in place to better guarantee success for their client base. The only way to prove these systems is to use them for multiple clients in the same (or very similar) niches.
When you work exclusively with clients, you can’t build meaningful systems you’ll be confident with for future customers. This means you’ll always be storming to get the job done versus following a repeatable implementation process.
Dependency on a single client/small group of clients: Relying heavily on one client for your revenue is risky. If that client decides to end the partnership or faces financial difficulties, it could have a significant impact on your agency’s stability.
Nobody wants their agency to rely on a single client; that’s way too much risk. A diversified portfolio of clients gives your agency stability, and exclusive deals make it much harder to build that stable bench of clients.
Lack of negotiating power: Exclusivity deals may put you in a position of reduced negotiating power.
If the client KNOWS they’re your biggest client…or worse…only client. They can make some serious demands when the initial contract term expires.
Potential conflicts of interest: If you have multiple clients in the same industry, entering into an exclusivity deal with one client may lead to conflicts of interest. Balancing the interests of all parties involved can become challenging and may strain your agency’s reputation.
While exclusivity deals can offer stability and focus, it’s crucial to carefully evaluate the long-term implications they may have on your agency’s growth, flexibility, and overall business strategy.
If you plan to offer these types of deals (which you shouldn’t), make sure to do it with some serious guardrails, e.g., only direct competition in a given region and charge a ridiculous premium!
📺 May’s Live Training: Use the PPC Competitive Landscape to Win More Clients
Whether you’re running exclusivity to clients or not, one of the best ways to get their attention (and close them) is to show them exactly what their competition is doing to generate business.
This month’s training is designed to show you how to effectively harness the competition’s PPC data to help you close more business.
Make sure to sign up even if you can’t make it. The training will be available for all registrants!