Break Into a New Niche with a Strategic Agency Acquisition

<p>Have you thought about expanding into a new industry? Ever wonder about buying another agency for their expertise and book of business? Even for an established agency, it can be difficult to break into a new space. However, a strategic agency acquisition can save a lot of time and effort. Today's guest found an agency acquisition was the ideal way to break into another niche. In this conversation, he shares some of what he learned from his agency acquisition and some lessons learned along the way.</p> <p><strong>David Hernandez</strong> is the cofounder of <a href= "https://lotus823.com/" target="_blank" rel="noopener">Lotus 823</a>, an integrated communications and digital market agency. This boutique agency works with some of the most recognizable and innovative brands in consumer tech and lifestyle offering to build engaging partnerships that feel like a natural extension of clients’ companies.</p> <p>Historically, his agency had mostly served clients in the tech space. However, they recently expanded to the home and lifestyle industry after purchasing an agency with years of expertise and reputation in that space. Thinking back to the acquisition process, he talks about how he made the decision, the lessons learned, and the valuable partner they gained as a result.</p> <p>In this episode, we’ll discuss:</p> <ul> <li>Using a strategic acquisition to break into a new industry.</li> <li>Lessons from acquiring an agency.</li> <li>How to run a people-first agency.</li> </ul> <p> </p> <h2>Subscribe</h2> <p><a href= "https://podcasts.apple.com/us/podcast/smart-agency-masterclass-jason-swenk-podcast-for-digital/id870206013" target="_blank" rel="noopener">Apple</a> | <a href= "https://open.spotify.com/show/0FiKuRTpkJ7OraCJBUIlr9" target= "_blank" rel="noopener">Spotify</a> | <a href= "https://www.iheart.com/podcast/263-smart-agency-master-28334260/" target="_blank" rel="noopener">iHeart Radio</a> | <a href="https://www.stitcher.com/show/the-smart-agency-masterclass-marketing-business-strategist" target="_blank" rel