How are you feeling right now about your agency?
A little nervous about what’s to come?
I never watch the news, but it’s impossible to ignore the hysteria and panic surrounding the Coronavirus.
And whether you like it or not, your agency is going to be impacted.
Here are “5 Tips to Survive the Coronavirus as a Digital Agency”
#1) Reduce Your Costs of Goods Sold:
Figure out how to reduce the cost that it takes to get your projects out the door. If your COGS are above 30%, reduce it as soon as you can. If you don’t know what that number is, then figure it out asap.
#2) Incentivize Clients to Pay in Advance
Run specials to get your clients to pay you in advance if possible. You don’t want to be stressing out because one day all your clients decide to cancel. Running a pay for 3 months and get 1 free special is a good idea right now.
#3) Create SOPs for Working Remote
Most likely, your teams are going to have to work remote if they haven’t already. The key to working remote is COMMUNICATION and if you don’t have great SOPs for communication you are going to have a lot of problems.
#4) Cancel and Get Refunds for All Conventions You’re Sponsoring
Most people are not going to travel so if you are planning on sponsoring any conventions, cancel and get your money back. You won’t get the ROI and you’ll just waste your money.
#5) Avoid Clients Who Require Foot Traffic.
Any business that requires people to come into a store is going to really struggle. From restaurants to gyms to mechanics, you can expect the majority of them to see massive drops in their sales. If your clients can operate over phone, email, and video calls (like Lawyers, CPAs, etc) then those clients can thrive and you thrive with them.
So those are my 5 tips to help your digital agency survive the Coronavirus.
If you have any questions or want to talk and see how DUDE can help you with these things, feel free to email me.
Ps. Here is an Ebook you can download “37 Things You Can Outsource to DUDE”. Click Here to download it.