There is no business owner that doesn’t want to grow their business nowadays. When it comes to recruitment, expanding your recruitment agency can be a tough pill to swallow, especially if you don’t know how to make the most of your existence – or how to find new clients.
The end of the year is approaching, and if your balance sheet is recording no change than your previous years (or months), it is time to do things differently. Today, we are listing four amazing strategies that will help you grow your recruitment agency in the UK and win more clients in the long run.
So, let’s begin.
1. Win more clients of the type you want
If you have been dealing with all kinds of clients, chances are that you made one generalization of them and divided them into two groups – ones that you enjoy working with and ones that are a real struggle to maintain (but bring some cash flow to your business).
The truth is, winning new clients is equally important as keeping your existing ones in place. However, that is not true when it comes to clients that are really not your type – or the ones that make your business tough.
So, rather than looking for clients in all forms and sizes, you should be focusing on searching for clients of the type that you already like. Now, how do you start doing that?
The best practices in marketing say that you begin by defining your ideal client profile and focusing on finding more like that. Whatever industry or level you are positioned at, you can portray your ideal client by filters like company life cycle, size, location or needs – and start from there.
This starting point will let you focus on the clients in the way you want to see them – and ones who value your industry knowledge and service offering. At the same time, it will make doing what you do best a breeze.
2. Increase the number of times your clients come back to buy
The second strategy is related to making most of your existing clients – or in other words attracting them to buy more from your services.
There is one statistic that says that the cost of winning a new customer is 6 times greater than having an existing one buy again. Knowing that, it definitely pays off to know how to consistently offer outstanding value in your service and encourage repeat business with your existing effort.
A lot of recruitment and search professionals miss out on repeat business just by not knowing where to start when it comes to this. What you can do to skip that is think about how you can delight your clients at different points throughout the year and add value to their business.
Whether it’s by accenting the value that you bring or by reshaping/remodeling your service, starting a recruitment business demands changing your viewpoint and consistently working to impress your clients. After all, you are working to become the ‘recruitment partner’ that your clients need – not a regular agency they can call anytime they want.
3. Increase the average value of each sale
The third way you can grow your recruitment agency is by growing your invested significant time and resources. That way, you can increase the average value of your client spend and earn greater profits.
Basically, it all begins by upselling your services to your clients. However, in order to do so, you must bring a greater value of each sale. For example, if you previously offered 100 targeted job seekers for a flat fee, now you can offer 150 targeted job seekers with extended demographics like age, previous experience etc. for double the price.
Obviously, the value here is the additional information that you are willing to provide and make it easy to your clients to search through your job seeker base and find the best candidates for their needs. The value will help them save time and use your services in a better way.
Some of the additional ideas include helping your clients solve more senior talent challenges, add multiple people to a department, Leadership Team Audits or Executive Coaching – all tailored to their needs and growth plan.
4. Improve the processes within your business
Last but not the least when starting your recruitment agency is to know how to improve it step by step. The first challenges start with the processes within your business that will underpin and tie everything together.
One of these processes is your rigorous search process – which is actually what your client is buying. By asking yourself and researching on the ways you can improve it or bring a greater value to it, you will be improving (and growing) your recruitment business as well.
It’s simple – every time you refine your search or any other process, you are refining the effectiveness of your business. In times like these, refining a business is crucial to keep up with the latest trends and deliver the best satisfaction on the client’s end.
By training, you can also improve yourself and your employees and together learn new methods in acquiring clients, communicating with them or making irresistible offers that are hard to reject.
In the end, it all boils down to the talent and skills that you pick up over time – and use in order to grow your recruitment business. Even though starting a recruitment agency with no money is a challenge by itself, there are many other challenges you will likely experience while running your business.
However, perhaps one of the greatest of all business ironies is struggling to recruit for yourself – or in other words -not being able to find great clients that are tailored to your needs. In order to do that, you should improve the core processes in your business, deliver high value, learn how to upsell and most importantly – search and work with the only the clients you want to.
Which one of these four ways to grow your recruitment business have you found to be most helpful and relevant to your case? Let us know in the comments!