At The Evergreen Agency, we recently made a bold move that has transformed our business: we niched down. In this post, we’ll share our journey, the challenges we faced, and the early results of this strategic pivot.
Before we get into the how, let’s go over some of the reasons why Evergreen decided to niche.
Differentiation in a crowded market:
- With over 7,500 digital agencies in the UK alone, standing out is crucial.
- We realised we couldn’t clearly articulate what made us unique.
Changing client needs:
- Brands increasingly want to bring certain aspects of digital marketing in-house.
- They value high-level strategy and roadmaps but often prefer to handle implementation themselves.
Hitting a growth ceiling:
- Relying solely on referrals and recommendations has its limits.
- Outbound marketing is challenging without a clear point of difference.
So now you know why we niched down, the question is, how did we do it?
Identifying our focus:
- We chose to specialise in the home, garden, and lifestyle sectors.
- Our new mantra: “An inch wide and a mile deep.”
Making tough decisions:
- We let go of all clients outside our new niche.
- This initially reduced our monthly recurring revenue by 40% and wiped out our profit margin.
- We also had to reduce our team size by half.
Shifting our service offering:
- We recognised that the future of SEO lies in digital strategy, not just implementation.
- We now focus on higher-level, strategic work.
Building the right team:
- We’re now hiring more experienced professionals instead of training juniors.
- This means a leaner, smaller team with true experts in their craft.
Despite being only a few months into our new direction, we’re already seeing significant benefits:
- Easier growth: We know exactly who we’re targeting, making our growth more organic and focused.
- Streamlined content creation: Our clear customer avatar allows us to address specific pain points effectively.
- Improved planning: understanding our niche helps us anticipate and solve industry-specific problems.
- Clearer vision: It’s easier to articulate and communicate our agency’s future, both internally and externally.
- Better positioning: We can now truly stand out in our chosen sector.
Niching down was scary, but it’s proving to be the right decision. We’re set to make more progress in the next six months than we did in the previous six years. My advice to other agency owners? Do your research, make a plan, and have the courage to specialise. There are indeed “riches in niches.”
Remember, the key is to start with the end in mind. Envision what your business looks like when it’s “finished,” and let that vision guide your decisions. It’s a game-changer.
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The post We are going to OWN the home, garden, and lifestyle space appeared first on The Evergreen Agency.