The secret to a robust sales pipeline? Diversifying your client list.
Someone recently told me (proudly, I must say) that they'd started three conversations with new prospects in the last seven days.
My response? “Dude, you need to do that before breakfast on Monday.”
When you’re running a digital marketing agency, you know that sales are the lifeblood of your company. It’s a given: no sales, no revenue, no moolah.
So you might be thinking, “I know that, Troy. That’s why I’ve worked hard to keep a couple of excellent clients. I rely on them to “keep the lights on”, and they haven’t failed me yet.
Yet. That’s a scary three-letter word, isn’t it?
While it’s great to have a few reliable clients, what happens when one or two of them drop? What if you didn’t have 15% of the monthly sales you rely on? Will you be able to meet the budget at month’s end?
It’s nerve-wracking to think about. But if you’re investing time in diversifying and filling your sales pipeline, you don’t have to worry at the end of the month.
So how do you get there? Well, first let me ask you this . . .
Do you spend enough time on sales? Be honest.
When I’ve asked other freelancers and agency owners this question, the answer is usually, “uhhhh, maybe?”
So, really. How many hours would you say you spent on sales this week? How about last week?
Building your pipeline takes time. As Johnny, a fellow coach and the owner of Johnny Flash Production puts it:
“If I spent a lot of time last month on sales, the numbers are usually pretty good this month.”
Johnny recently landed a client with a monthly retainer of 9K. Not only that. He currently has about 115 recurring monthly clients, and he is still investing about an hour a day in sales.
Overcoming fears around sales
Before I jump into the nitty-gritty, I’ve got to address why it’s critical to overcome two common fears.
- The fear of rejection
Rejection is normal. I repeat. Rejection is normal.
There isn’t a single salesperson who hasn’t experienced rejection. However, rejection is also the reason to build a healthy sales pipeline. For example, let’s say you want 20 new clients this quarter. You’ve got to reach more than 20 clients to make it happen. You need more people in your sales pipeline to account for the “no’s.”
The 10X Rule book by Grant Cardone explains this really well. It basically says that you should set targets for yourself that are 10X greater than what you believe you can achieve. And you should take actions that are 10X greater than what you believe is necessary to achieve your goals. The biggest mistake most people make in life is not setting goals high enough. Taking massive action is the only way to fulfil your true potential.
- The fear of being hired
Yes, this is a real fear.
Clients hire you to deliver (and do it well!). This isn’t intimidating when it’s a referral client or even a repeat one because you’ve already set expectations.
But when it’s new clients from different channels, imposter syndrome may set in. You may have set higher expectations to differentiate yourself from the competition. So the pressure is on, and it can be scary. But if you learn to overcome this fear (and manage expectations), you’ll open yourself up to a new list of possible clients.
Why go wide AND go deep methodology
But it also applies in building your sales pipeline.
The idea is to build a healthy client roster that includes a combination of big whale clients and a lot of smaller clients. There are a couple of benefits to diversifying:
- Peace of mind even if one or two of your clients slow down or go away.
- A solid foundation of clients so you don’t have to sell 24/7 while you build.
Ready to fill your pipeline?
Different channels to find clients
Using different channels is key to building a diverse client list. Instead of relying on a couple of successful channels to get clients, create new streams or sources of clients.
Start by going through this list to see how many channels you’re successfully using:
- Referrals from other clients
- Adjacent partners (businesses providing different services and can refer you, clients)
- SEO traffic
- Digital Ads
- Networking (Facebook Groups and Linkedin)
- Creating content
On our site, we’ve written numerous posts that can help you including:
- “20 Creative Ways to Find WordPress Web Design Clients”
- “How to Attract Qualified Leads With SEO”
- “How to Generate Leads Using Personalised Marketing”
We’ve even built our The Client Acquisition Formula for the agency owner who wants more clients (know anyone?). But as you can see, the opportunities are endless. You’ve just got to put in the work.
Never stop selling, never stop recruiting
Building your sales pipeline is intimidating. But if you’re committed (and I’m sure you are since you’re still reading), you’re going to have a lot of work coming. And this will allow you to hire the talent to do the work you’re promising. See how that goes?
So whether you’re just getting started in building your agency. Or you’ve scaled up but want to grow more (and work less). Filling up your sales pipeline and diversifying your client base is the way.
So you ready to fill up? Set up a time to chat with our team, and let’s make it happen.