Agency Doom Loop
Having loyal clients is great for agencies. But there is a downside agencies need to be aware of. Loyal clients are by definition the ones acquired longest ago and who have made a choice not to shop around. This isn't always good.
They are sometimes the least aware of how alternative services have evolved and the most comfortable with legacy approaches (the ones they know and love; yours).
Prioritising the demands of loyalists over those of new customers or even lost prospects can lead agencies to persist with aging approaches that are falling behind the cutting edge. Getting positive feedback (repeat purchase and praise) can mask the need to keep moving your offer forwards.
Meanwhile the base of loyalists and the edges of their wallets are eroded over time by client churn, continual pressure on budgets and new competitors. The audience gets smaller and so does the value of their applause.
Agencies always need to balance the voices they listen to or risk falling into the Agency Doom Loop, where they drift imperceptibly towards failure as their offers become increasingly irrelevant to newer, more progressive buyers.
As the market for services develops towards self-buy and self-service propositions, agency products are a way of transforming your most successful interventions into more buyable options a new type of client can find, see themselves in and buy.
Create Agency Products is here to help agencies avoid the Doom Loop by packaging up what they do best without losing who they are. Agencies can make progress on their product journey on their own or with our help.
Get in touch for your free consultation and find out if creating an agency product is for you and your agency.
Ask “why?” when your most loyal clients say they love you just the way you are.
Having loyal clients is great for agencies. But there is a downside agencies need to be aware of. Loyal clients are by definition the ones acquired longest ago and who have made a choice not to shop around. This isn't always good.
They are sometimes the least aware of how alternative services have evolved and the most comfortable with legacy approaches (the ones they know and love; yours).
Prioritising the demands of loyalists over those of new customers or even lost prospects can lead agencies to persist with aging approaches that are falling behind the cutting edge. Getting positive feedback (repeat purchase and praise) can mask the need to keep moving your offer forwards.
Meanwhile the base of loyalists and the edges of their wallets are eroded over time by client churn, continual pressure on budgets and new competitors. The audience gets smaller and so does the value of their applause. Agencies need to balance the voices they listen to or risk falling into the Agency Doom Loop, where they drift imperceptibly towards failure as their offers become increasingly irrelevant to newer, more progressive buyers. As the market for services develops towards self-buy and self-service propositions, agency products are a way of transforming your most successful interventions into more buyable options a new type of client can find, see themselves in and buy.
Create Agency Products is here to help agencies avoid the Doom Loop by packaging up what they do best without losing who they are. Agencies can make progress on their product journey on their own or with our help. Create Agency Products is a largely self-service solution to a large self-service problem.
Get in touch for your free consultation and find out if creating an agency product if for you and your agency.
