Failure is an inevitable part of owning and operating a business, and digital marketing agencies are no exception to the rule. In fact, digital marketing is an industry where we often face setbacks and failure, from less than stellar results from SEO campaigns to underperforming paid advertising results.
But despite how you feel, failure isn’t always outside of your control. There are steps you can take to prevent failure from occuring in the first place, and lessons you can learn to prevent it from happening again.
The first step to analysing failure is to understand where it all went wrong. And while we understand that failure is the last thing you want to dwell on, it is important to understand how your business strategy, project, or campaigns weren’t as successful as they should have been.
Some of the most common reasons for failure in the digital marketing agency landscape include:
Setbacks like these can be disheartening. And sometimes despite your best efforts and knowing that the pitfalls are there, you can make the mistakes anyway. Which means the best thing you can do is learn from them. So that next time around, you’ll be resilient and adaptable.
Sometimes failure can be truly and completely out of your hands. But as we’ve said, most of these above causes for failure can be avoided. Which entails some analysis of your business, strategy, and creating a structured plan. Something like this:
Setting goals is an essential part of being a digital agency owner. But setting yourself unreasonable goals can also be setting yourself up for failure: Which means you need to be realistic with expectations and understand the state of the current digital marketing industry.
Of course when you do experience failure with your digital agency, how you respond to it is just as important as the problem itself. Facing the problem head on and leading by example, is crucial to overcoming it. Steps you can take include:
And don’t forget how important it is to analyse and learn from your failure. Because while it’s the first time you face this issue (whatever it is), it probably won’t be the last. So learning how to proactively solve the problem or how to better manage it when it occurs again is essential to the future of your agency.
Every business has encountered failure. From start-ups that are now titans of industry, to huge corporations that have struggled in recent years: The common theme was experiencing failure, and overcoming it. For example:
And of these success stories, none of them require wild rebranding or reinvention. All they needed was flexibility in their approach, and perseverance that their business and idea was solid.
As any digital agency owner (or any business leader) worth their salt will tell you, it’s your failures not your successes where you learn the most. And there’s a few simple steps you can take to learn from your failures:
Of course, you’re only one person. Hiring the right people for your agency is essential to its success. Which is where we can help.
When the stakes are so high, it’s worth making sure you get the digital marketer who is right for your individual business needs. Which is where we come in. Here at Herd, we work hard to support the growth and development of agencies of all sizes. Have a look here, to see what we can do for your agency.
And don’t forget, it’s completely free until we find you the right person, and you’re happy!
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