Recession-proof your agency 🌱

Hey hey! This week in Growth By Social we’re going through: 

💰How to create a recession-proof agency

💸 4 factors to consider when pricing your packages

📱Reels best practices

📽️ TikTok updates 

Let’s go!

💰How to Create a Recession-Proof Agency

Should a recession put a halt on your agency plans? 👀

Answer: NO ✋

Recession sounds scary, but don't let it stop you chasing your dreams! 

It might actually be the best time to start or grow your agency... 

Here are 4 reasons why 👇

1) Your competition may be struggling

Well-established agencies can be fairly vulnerable in an economic storm, with large overheads and processes to navigate. This could mean that they let go of staff and bump up their prices. 👇

A boutique agency can adopt a much leaner approach, focusing on lower cost business models so that you can offer more affordable solutions to prospective clients.

2) You have a larger talent pool to recruit quality staff

Redundancies are inevitable in recessions but this leaves talented professionals looking for their next venture. 

If your agency is growing during a recession, it can attract more quality candidates for the role.

3) People need your services more than ever

Most businesses and sectors are likely to take a hit during a recession. More people tightening their belts = fewer sales. But what's the best way to attract more customers? Marketing! 👇

Your agency - as a low cost alternative to competition - is going to be an obvious choice for businesses looking to boost their reach and sales. 

4) You're up against less competition 

If you've had doubts about setting up your agency, the likelihood is others have too. Prospective agencies might be pressing pause on their launch plans, so it's actually a great time to get ahead of the game! 👇

If you decide to go ahead with your launch during this time, you can: 

👉 Grow your market share

👉 Establish your business 

👉 Secure and build relationships with clients

…all before any other competition gets in the way!

Think twice about putting the brakes on your agency!

Disclaimer! It's not going to be the easiest ride, but what is in business? 

But, to give yourself the best shot at being successful in an economic downturn, you need to price your packages effectively… 

So here are:

💸 4 Factors to Consider When Pricing Your Social Media Packages

1️⃣ The number of platforms you will post across 

You'll most likely need to change up your content for different platforms - this makes more work! Make sure to factor this in when you're packaging your services. 

2️⃣ How often will you be posting? 

The number of posts you'll be publishing each week/month is a biggie. From creating the post, to publishing, to analyzing, even just one post can rack up multiple hours! 

3️⃣ Will you be designing/providing content from scratch? 

Will you need to design graphics, search for images, and research articles to use? Or will the client provide this? Always factor in design and research time! 

4️⃣ How much time will you spend engaging? How many hours per day/week/month will you be engaging with your client's audience? 

It’ll also depend on the complexity of the posts too. For example, if you’re posting Instagram Reels, they’re going to take you a lot longer than static posts, so the fee should be bumped up a little higher.

Which brings us to…

📱Reels Best Practices

Want to up your Reels game? 👀 

Meta has revealed 3 key ways to create better Reels: 

🎥 Resize your video to 9:16 

Reels Ads with these dimensions have better scores and engagement rates than non 9:16 Reels. 

⚠️ Use safe zones 

Consider the Reels UI - you don't want your stickers, text, CTAs getting lost. 

Meta suggests keeping the bottom 35% of your Reel clear. 

Working outside of the safe zone can lower your CTR by up to 28%! 

🔊 Build your Reel for sound on 

Note! 80% of Reels are viewed with the sound on! 

Make your Reels entertaining by providing sounds - music, voiceovers, or sound effects!

Or if TikTok’s more of your thing, we’re bringing you some recent TikTok updates!

📽️ What's the latest with TikTok? Let's catch up

🛍️ TikTok Shop launched in the US a few weeks ago - a big step in the platform becoming an ecommerce giant. 

💰 You can scroll through TikTok ad-free… but it'll cost you $4.99 a month 

🔎 TikTok is exploring a partnership with Google to drive search traffic 

🤖 Creative Assistant was introduced on the platform - a new AI tool that will help creators find ideas for content

That’s all for now! 

Here’s what we’re covering next week:

🛼 Barbie marketing

🗑️ 5 social media myths we need to dump

📱Social media ads

See you then! If you want to support my newsletter, please head on over to LinkedIn and…

Thanks so much for reading,

Mai An Tran, Co-founder of MixBloom