Digital marketing continues to explode in 2019. While many proclaim that “SEO is dead,” the data indicate that agencies are increasingly moving into search engine optimization. Others have noticed that Per-Per-Clikc (PPC) costs are rising at an alarming rate as Cost-Per-Click (CPC) has increased dramatically. Facebook has offered some relief to Google, but has also hit significant headwinds as politicians have cashed-in on the advertising channel.
For smaller entrepreneurs, SEO offers an excellent way to enter the digital marketing space as an agency - with a digital focus. In particular, with the rise in white label solutions, more agencies have been able to grow revenues from SEO with very low risk. How does this work really.
As several media outlets have covered, a white label SEO reseller organization allows other agencies to brand a product that is provided by a third party. The white labeled organization actually completes the fulfillment while the agency remains client-facing.
There are many documented cases where agencies have been able to grow revenues in excess of $1 million annually exclusively using white label SEO. Here are the keys to success in such a scenario:
- Source of Leads
To make this approach work, an agency has to have a strong source of leads. In the early days, it is highly advantageous to sell to friends and family, as this lead source is free. After friends and family, leads can usually be developed from business networking - especially from local events. Finally, as the business grows there will be free cash flow available for advertising and other channels of marketing. Or course, one of the wisest moves is to use the white label SEO product yourself. This will make you much more capable in sales, having used the product personally.
- Ability to Close Deals
Many agency owners boast of amazing closing skills only to realize they are not achieving the flow of leads they need to grow revenues to an adequate level. Closing skills are require a high level of discipline. Metrics need to be gathered and reviewed regularly to ensure each step in the funnel is moving well. Lean Startup recommends heavy use of Cohorts in determining sales effectiveness. Agencies that don’t currently use cohorts in their sales metrics need to read-up on this approach.
- Strong Account Management
Finally, Agencies need to have excellent account management to retain the deals after they come in. Gaining customer revenue will not build a solid business without appropriate retention. Strong customer satisfaction is tied to several constructs: Expectations and Service. A great approach to expectation setting will ensure clients are well educated on what they are buying. Regular reviews of deliverables and KPI’s are critical. And when things go wrong, rapid response with strong ownership and accountability will save the day. This is as true for SEO products as any other business-to-business offering.
Following these three strategy points, agencies can grow from $0 to over $1 million in annual revenues in 24 months. Using a white label SEO product will cut down on the product development time and allow agency owners to focus on finding leads, closing deals, and servicing account. If this strategy is applied with discipline, the result will be a thriving digital marketing agency.
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