The Covid-19 pandemic has wreaked havoc on the global advertising industry, with businesses of all sizes struggling to stay afloat. Many agencies were forced to lay off staff, while others folded or were acquired by more prominent companies. However, a few agencies were able to buck the trend and thrive in this challenging environment.
One such agency is GR0; an LA-based digital marketing firm recently named the fastest growing marketing agency in the US by Inc. Magazine. GR0 has also been ranked as the best digital marketing agency in LA by Clutch.
In 2020, GR0 won 17 awards and had been profitable every month since March 2020 due to cost-cutting measures and increased demand for digital marketing services. In 2020, they grew at a breakneck speed of 301.72% year-over-year, with nearly 100 full-time employees.
GR0 helps brands rank #1 on Google by leveraging search engine optimization (SEO) and search engine marketing. Additionally, they provide PR, influencer marketing, content writing, and development services. GR0 has a long list of happy clients that includes top brands like Ritual, MyOllie, Genexa, and Pumpkin.
What sets GR0 apart from other agencies is its focus on data-driven marketing. This means that they make decisions based on numbers and not gut instinct. This scientific approach has allowed them to grow at an unprecedented rate and emerge as one of the best digital marketing agencies in LA.
GR0 Secret Growth Strategy
So, how did GR0 manage not just to survive the Covid-19 pandemic but also to thrive?
For starters, they had a plan. “When the pandemic first hit and things started getting bad, we sat down as a leadership team and said, ‘okay, what do we need to do to make sure that we not only survive this but come out of it stronger than ever before?'” says GR0 CEO Kevin Miller. “We knew that we needed to be nimble and adaptable, so we developed a three-pronged approach.”
The first thing they did was cut costs. “We took a hard look at our expenses and made some difficult decisions,” Miller says. “We reduced our overhead, trimmed the fat, and ensured that we were as lean and meant as possible.”
The second thing they did was focus on their people. “We knew that our team was our most important asset, so we invested in them,” Miller says. “We provided them with the resources they need to succeed, whether training, development or just moral support.”
And finally, they diversified their revenue streams. “We realized that we needed to have multiple sources of income if we wanted to weather the storm,” Miller says. “So we diversified our offerings and started offering new services that we knew would be in demand.”
Thanks to these three strategies, GR0 was not only able to survive the pandemic but thrived. “We’re now one of the fastest-growing marketing agencies in Los Angeles,” Miller says. “And we’re on track to be one of the best digital marketing agencies in LA.”
Star-Studded Advisory Board
GR0 was able to attract some of the top names in the industry to its advisory board. “It was a real coup for us,” Miller says. “We had people like Paris Hilton and Carter Reum from M13 LA-based VC firm.”
These big names not only helped GR0 get noticed by the industry but also provided valuable insights and advice that helped GR0 navigate the choppy waters of the pandemic.
“Having that kind of expertise at our disposal was invaluable,” Miller says. “They showed us what was working for them and gave us ideas on how we could adapt our business model.”
By leaning on their advisors, GR0 made fundamental changes that positioned them for success in the post-pandemic world.
If you’re running an agency during these uncertain times, take a page out of GR0’s playbook and focus on being lean, investing in your team, and diversifying your revenue streams. It just might be the key to weathering the storm.