Agency refers to a small group of people or a business which provides certain services to another set of people or another business. Some of the examples of an agency may include Digital Marketing agencies, Advertising agencies, Media & PR agencies, etc.
The biggest challenge an agency faces is customer attrition. A low customer retention results in continuous loss of clients overtime. This means they will have to spend a significant amount of their creative time for new customer acquisition activities which is usually 10 times more challenging than retaining an existing client.
The root cause of these challenges lies in the lesser than adequate customer relationship management setup at the agency.
Here are some of the instances:
Creative agencies have to interact a lot with their clients. While it all depends on the quality of work your creative team delivers, an ever lasting customer relationship management system in place can do wonders for your agency business by putting you on a growth track.
Agencies would need a CRM for a number of uses:
Track your opportunities from stage of initial contact to deal closure.
Organize your contacts from deal decision makers to customers and keep track of conversations.
Get Reports from your CRM data and actionable insights to take critical sales decision.