Wed, 8 April 2020
How can your agency stop charging for hours and switch to value-based pricing? Have you ever thought about naming your services or productizing? Branding is important and it can be what sets you apart in a world full of "me too" agencies.
In today's episode, we'll cover:
Today I sat down with Jeremy Miller, founder of Sticky Branding. Jeremy describes himself as an author, a speaker, and of course, an agency owner. While he never intended to enter the agency space, after completing a few branding projects for the family business, he quickly discovered he had found his niche. Jeremy talks about why names are so important to branding and how you can make your agency stand apart from the rest.
Why Naming is So Important to Your Agency's Brand
If you're like most agency owners, this one probably seems like a no-brainer. I can hear the chorus now, "Of course I know how important naming is. Do you know how much blood, sweat, and tears went into choosing my agency's name?" But when we talk about names, we're not just talking about what you name your agency, we're talking about the names of each individual service you provide.
Wait— what? Yes, the products you offer, the services you sell, they all need a name. Take my training program, for example. It's not just, "Here, come join my program. It's the best." What I offer is the agency playbook. The name of the program gives my clients an idea of what to expect as well as its value to them. The word "playbook" indicates a step-by-step guide to achieve your goals. See the difference?
If you simply charge by the hour, rather than naming your service, what incentive do clients have to choose you over another cookie-cutter agency? When you create a brand you can begin to provide value-based services.
How to Match Your Agency's Name with Your Agency's Brand
It doesn't matter how great your name is or how many click-throughs you get if you have a subpar product. As Jeremy puts it, you can't just put lipstick on a pig. You want your name to align with what you are actually offering. This means you have to think about two things:
Odds are, you won't be able to name your services from the outset. You have to have a solid understanding of what your product is and why your clients need it before you can create a brand people will trust. But don't wait too long. Jeremy says, one of the biggest mistakes agencies make when it comes to branding is failing to name their services, or just as bad, failing to name their clients' services.
How to Get Agency Clients More Involved
Jeremy believes many agencies need to get their clients to do more work. What does this mean? Your agency should not resemble an episode of Mad Men. In other words, while you are providing a service for your client, you shouldn't be doing all the work. Think about where you can get your clients more involved.
Does your client provide a service in need of serious branding? Challenge your client to tackle the problem. Create a process where they strategize branding and be there as an advisor. Instead of putting 100 hours of work into a project, you'll get away with far less. When you utilize your clients' team, you're able to take advantage of all your resources instead of increasing your headcount.
Great brands are built on substance. But when you have solid branding, that's when you'll stand out from the rest. Remember, when you can get to a place where you are choosing who you want to work with because clients request you by name, that's when you're going to thrive.
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Direct download: How_Branding_Your_Agency_Sets_Up_Value_Based_Pricing.mp3
Category:general -- posted at: 5:00am EST