Why Agencies and ConsultanciesCan’t Afford to Rely on Referrals Amid Trump’s Tariffs

If your agency or consultancy is banking on referrals to drive growth, it’s time for a wake-up call. Trump’s recent tariffs aren’t just news but a market earthquake.

Immediately following the tariff announcements, S&P 500 and Nasdaq futures plunged more than 4%. The ripple effects will tighten corporate budgets, shrinking opportunities for traditional referral-driven businesses.

Historically, referrals and word-of-mouth were moderately reliable, but in today’s turbulent economy, with tariffs as high as 34% on Chinese imports and 20% from the EU, businesses are feeling the squeeze.

That means fewer marketing and consulting dollars to go around.

So, how do you safeguard your growth? It’s time to shift from passive to proactive—enter Account-Based Marketing.

ABM involves pinpointing your ideal clients, deeply understanding their challenges, and creating targeted thought leadership content that addresses their most pressing needs.

But compelling content isn’t enough. You need focused demand generation campaigns to actively place your message in front of your prospects. The critical step is proactively engaging prospects who interact with your content, converting curiosity into conversations.

Relying solely on referrals can cost your agency or consultancy in this unpredictable market. ABM helps your firm proactively secure its future, transforming today’s economic challenges into opportunities.

How are you responding to this new market reality?