Feast or Famine: Pt 2
Last week, we looked at some of the disadvantages of the Feast or Famine business model, which you can check out HERE. These pitfalls ranged from taking work out of desperation to working on a shortened timeline. As we’re actively pulling ourselves out of this model we thought we’d share some of the things that have worked for us; check out how we’re doing it.
“The longer we work with a client the more fluid the relationship becomes...”
Share the Wealth
One of our points from last week was on how following the feast or famine model often leads to taking on clients that don’t resonate with your agency’s brand or overall vibes. One way we tear down this model is by working with other organizations in the Tampa Bay Area with the goal of building brands up in all aspects. Knowing your strengths helps when pulling in backup to cover your weaknesses. Helping build an online presence is our forte, so an organization in need of interior design would be a perfect opportunity for us to refer them to other people we’ve done business with. When working with other agencies or organizations to build up your clients, finding the right community isn’t as daunting. By collaborating with people in your area, you open up opportunities for referrals; not only do you have your client base to work from, but there is also the possibility that someone else pulls your agency in to cover for some of their weaknesses.
Focusing on long term investment is one of the ways we’re combatting the feast or famine business model. As we’re switching our billing system, we’re setting ourselves up to work with clients who can sign up for a subscription to our services. Doing this ensures long term commitment to building better brands. The longer we work with a client the more fluid the relationship becomes, allowing us to almost take them on as part of the team, rather than working with them short-term and moving on to the next project. Landing subscription based projects helps to force you out of the all-or-nothing mentality, as you’ll consistently have work to do. It’s the difference between helping someone excel right now versus helping someone stay adaptable for a longer period of time.
Make Yourself Known
Marketing and making yourself known is another way to get out of the feast or famine model. Even when you’re busy you should be marketing so you can find those brands that mesh well with you. There are a couple of different ways we maintain our presence even when we’re in the thick of client work, one of which, is through our social channels. We always try to put out branded content that adds value to our audiences, whether it’s through inspiration, blog posts like this one, giveaways, or freebies. Keeping up your social game, even when you’re busy, makes it easy to pull in the right people. We also like to keep up with our former clients because keeping that relationship healthy often leads to good things. Adding more value to your clients, potential future projects, and referrals are all outcomes that we’ve experienced from maintaining our point of contact. By investing in brands that mesh well with your agency, you also open yourself up to building relationships with like-minded people.
Escaping the feast of famine model isn’t easy, but the payoffs outweigh the struggle. Focusing on long-term investments is the direction we’re headed and how we can add value to our own agency, our client base, and to the organizations we choose to work with to build better brands. As always thanks for reading and keeping up with us. Follow us on Facebook, Instagram, Twitter, Linkedin, Dribbble, and now Behance for some of our best practices, free wallpapers, resources and spec work.