If your agency is flying high and you’re looking to grow, you might be considering expanding into a new industry. Alternatively perhaps you’re looking to find new streams of revenue due to a struggling sector.
Expanding into a new sector can provide many exciting opportunities for your agency.
To help you during this time of change, we’ve put together a few pieces of advice to point you in the right direction:
Do Your Research
You need to spend some time researching your new sector so you’re armed with all the information you need.
Reading the latest industry news allows you to identify growth areas and be knowledgeable when speaking to new clients.
Skill shortages are important to understand too, so you can be prepared when agreeing to new roles that you might struggle to fill.
Invest in Marketing
Once you’ve chosen a sector, you need to let everyone know about your new specialism!
It might feel initially like starting your recruitment agency all over again, and thinking of it in that way can be a good approach.
Take a look at niche publications to hit your target market. Thought-leadership pieces can also prove useful to start to establish yourself as an industry expert.
Consider Hiring a Specialist
If you’re considering expanding in to a sector that you have little or no experience in, then it might be worth hiring a specialist.
Taking on another recruiter can be a big step. However having someone with connections and an understanding of the market can be invaluable.
Nobody needs to tell you how to hire a great professional! So take your time finding the person that’s right for you and your growing business.
Ask for Recommendations
When you’re working with your existing clients make sure they’re aware of your expansion into a new sector.
If you have a great relationship then it’s a good opportunity to ask for a recommendation to valuable contacts they may have.
Review Your Branding
Take a look at your branding and think about how it will work for the new industry you’re moving into.
Ask yourself if the tone of voice, look and message to market will resonate, plus how it stacks up against the competition.
Ensure your website, Google My Business listing and other important online profiles are updated. Clients and candidates might hesitate to contact you if your message to market regarding your specialisms is not consistent.
Keep An Eye on Your Workload
It’s exciting to start tackling a new industry that presents lots of opportunities, however it’s essential to keep an eye on your workload.
Taking your foot off the gas for your core specialism to focus on something new, could mean you end up offering a lesser service to your loyal clients.
Look at different ways you can free up your time, such as taking on additional help or outsourcing your back office functions.