🚀 How agencies grow from low 7-figures to high 7-figures

There's one key concept that separates agencies who make low-7-figures from those who hit high-7-figures.

It's not just about working harder or landing more clients.

When scaling to high 7 figures, your customer retention and operational systems need to level up – by a factor of 10x or more.

This refinement concept is called sophistication.

Today, I'm sharing two simple processes that will sharpen your customer understanding and dramatically boost your influence over them.

Let's dive in…

NPS Score

“An NPS score measures customer loyalty by looking at their likelihood of recommending a given business. Your NPS score is measured with a single-question survey and reported with a number ranging from -100 to +100, where a higher score is desirable.” - Qualtrics

In short, an NPS score is a quantitative way to look at how your customers feel and perceive your business.

The process of implementing this is simple:

• Identify the questions you want to ask and understand about your customer monthly

• Put them into a form

• Send the form

• Review data

Here are some questions I would encourage you to ask every month:

• (Month 1) What were your expectations coming into this collaboration?

• Did we meet those expectations (yes, no, somewhat)?

• What would you have liked to see done differently?

• How satisfied are you with our service (highly satisfied, satisfied, dissatisfied, highly dissatisfied)?

• How likely are you to recommend us to your friends or colleagues based on your interaction with our support team?

From here, I recommend implementing a monthly review meeting of the data.

Every datapoint can provide you with an opportunity to adjust your process or systems to increase retention.

Monthly Reporting & The Grass Isn’t Always Greener Campaign

I find that most data-driven businesses understand the need for monthly reporting.

But improving the reporting to reduce the likelihood of churn is something nearly all businesses miss.

There’s one simple process you can leverage to improve this in your business to increase LTV:

During months 3-6, clients often consider leaving to go to another service, even if you’re doing a good job!

It’s your job as an agency to find out:

• What other services/businesses your clients are considering switching to

• What critiques your clients have of your business

These critiques can be VERY small. Here are three examples where this can come up:

• Newsletter Growth Agency: “I think I can grow more by spending $$ on newsletter ads on Sparkloop.”

• Content Creation Agency: “I think I can save money by writing my own content.”

• Ads Agency: “I think I can save money and get the same results with a freelancer.”

There are 1000s of examples where your clients consider other scenarios. 

It’s the brain's nature to compare and consider other services!

When you know what those variables are, you can include comparison metrics in your monthly reporting, like this:

There are dozens of other examples where increasing your level of sophistication will help you grow your business…

At 8-Figure Agency, our process is to:

• Identify those factors that are holding your agency back

• Roll our sleeves up and actually implement the systems that will take you to the next level

• And act as your partner during every stage of scaling 

Want to learn more about where our team might be able to help YOUR agency?

👉 Schedule a strategy call with our team here 👈

We'll help identify your biggest constraints, and start mapping out a plan for explosive growth.

Make sure you keep reading as we share more examples in future newsletters.

(And keep a close eye out for a very special email on Thursday - we’re going to be announcing something BIG)

Until next time…