The #1 Digital Agency Podcast for Social Media, SEO, PPC & Creative Agencies

Are you looking for a way to stand out as "the choice" instead of "a choice"? Do you want your agency prospects to view you as more than just one of the "me too" agencies? In a space where everyone's the same, you have to figure out what makes you different. Then leverage that difference to win more agency clients.

In this episode, we'll cover:

  • Stop being one of the "me too" agencies.
  • How your agency's vision can help you land more clients.
  • How you can position your agency as a trusted advisor.

Today I sat down for a really important discussion with Robert Pepper, strategy partner and co-founder of PSLondon, a 13- year old digital marketing agency based out of London. After nearly 20 years working on the client side of projects, Robert and his partner decided to start an agency of their own. He's here to talk about what his agency has done to stand out in such a competitive field.

How to Stop Being One of the "Me Too" Agencies

When Robert and his partner started their agency, they knew they needed to find a way to make clients choose them above everyone else. There's no shortage of options for clients when it comes to choosing an agency. And often, price is the only thing that separates one agency from the next. So what can you do to make your agency stand out from the rest?

  • Be authentic: Robert says he and his partner agreed they had to do something authentic to who they were. They both knew they were interested in client outcomes and wanted to be measured by what keeps their clients up at night. From his years on the client-side, Robert knew he wanted to create a way of existing so clients knew the agency was on their side and focused on the results they wanted.  Figure out what your agency stands for. Create a vision, know your values, and understand what type of clients you want to work with.
  • Look forward, not back. PS London created its strategy based on a proposition called future thinking. This means their agency focuses on what their clients want to achieve at the end of the day instead of the obstacles that have stood in their way in the past. Robert uses the analogy of driving a car. You spend more time looking ahead of you in the 6-foot windshield and occasionally look behind you in the 6-inch rearview mirror. Proportionately, that is how PSLondon helps their clients look forward and not back.

How Your Agency's Vision Can Help Land More Clients

You can go into a pitch meeting promising the world, but guess what, other agencies are doing the exact same thing. However, when you tie your agency's vision and purpose into the pitch, you will stand apart. This is why it is so important to understand who you are as an agency.

Robert says he's never had a problem getting clients to buy in at the early stages because everyone is interested in the future. When you can go into a meeting and tell a client "this is what we do and this is how we can help you," they're going to have an easier time signing on.

How to Position Your Agency as a Trusted Advisor

The real challenge comes when you sign on a client and have to figure out a way to measure and deliver results. A lot of clients don't know what they want or how to define it so it's your job to help them figure it out.

The most important goal of an agency is building a relationship which helps your client achieve their goals. You provide a service, and ultimately, it's the client who makes the final decision. Too many agencies focus on themselves when most clients just want to know you share the same goals. When you make the client the superhero and not you, they're more likely to stick around.

There are so many ways you can help your agency stand out from the crowd. But ultimately, the most important thing you can do is know who you are. When you understand what makes you valuable and different from anyone else, it will be easier for your clients to see it as well.

Ready to See How Your Agency Financials Stack Up?

Agency Dad is the accounting and forecasting solution designed specifically for agencies. And for a limited time, Smart Agency listeners can get a FREE AUDIT so you can compare your agency's financials to the industry benchmarks.

When you know your numbers you can make smart decisions in order to grow your agency. Agency Dad will take you to the next level with bookkeeping, financial dashboarding, and forecasting built specifically for agencies.

Head over to AgencyDad.money/freeaudit/ to receive a free audit on your agency's financials.

Direct download: 2_Things_to_Separate_You_from_the__Me_Too__Agencies.mp3
Category:general -- posted at: 5:00am EST

Do you want to know what pricing model is right for your agency? Do your clients understand the value of the services you provide? Are you doing enough to make sure your clients stick around? Performance-based pricing can be a great model to help grow your agency, but only when clients understand the real value your agency brings to the table.

In this episode, we'll cover:

  • Is performance-based pricing right for your agency?
  • How to help clients understand value compared to performance.
  • Why your agency needs to set big goals.

Today I sat down for an informative chat with Justin Buckley, partner at ATTN, a performance and growth digital marketing agency. After spending years working in affiliate marketing, Justin and his partners realized they were spending too much time and money building other people's brands. Two years ago they decided it was time to make something of their own. Justin's here to talk about how their unique pricing model and aggressive goal setting helped grow ATTN fast.

Is Performance-Based Pricing Right for Your Agency?

One of the most important decisions you'll make is how to charge for your services. Whether you charge on value or performance, there a few things to consider:

  • What type of services do your clients expect of you?
  • What type of time commitment does this mean for your team?
  • How much control do you have over your client's results?

When ATTN chose a pricing model, they chose to go with a hybrid approach. What this looks like is a combination of a flat fee and a percentage of ad spend. ATTN chose to build a performance model into their pricing structure since they are a performance agency. Ultimately, when they perform well, their clients perform well and want to spend more. The more their clients spend, the more the agency makes off the ad spend. This helps balance out the lack of control the agency has on the backend of operations as well as offset the cost of working with clients who aren't as focused on growth.

As you grow, you'll quickly learn what works for your agency. Don't be afraid to charge what you're worth and be willing to put the measure of your agency's performance on the line.

How to Help Clients Understand Value and Performance

There's a risk that comes with performance based pricing. If the clients don't get the expected results based on your performance, you aren't going to get paid what you need to. At the end of the day, it's up to you to get your clients to see the value of your services and make sure your agency can achieve the right outcomes.

Justin says the number one thing they rely on to help their clients understand what they are getting is communication. If you don't show your clients what you are doing and the results you're achieving, how else are they going to know?

While it's important to have regular meetings to review benchmarks and create goals, it's also essential your clients know you're invested in them. Talk to them about what they want to achieve and get a real understanding of their vision. When you know what your client wants and what they are working towards, you'll have an easier time delivering results.

Why Your Agency Needs to Set Big Goals

If you're not setting goals at your agency, you have nothing to work towards. Whether you're creating an exit strategy, improving cash flow, or building your team, you need to have goals. Don't be afraid to set goals that make you uncomfortable.

The best way to meet your goals is to break them into manageable chunks. Want to be at $10 million in profits after 10 years? Where do you have to be at year five to make this achievable? Now break it down even more. What does year three look like? Year one? Finally, figure out what each quarter, each month, and each week looks like. When you do this, not only do you have a way to hold your team accountable, but you can also start putting the right pieces into place and deploying the resources you need to hit your goals.

As an agency owner, your job is to provide a service. And with this, you continually have to prove your worth. Talk to your clients, create benchmarks, and schedule regular check-ins. When you and your client are on the same page, you'll both find it easier to find success.

 

Looking for a Payroll and HR Solution for your Agency?

Payroll and benefits are hard. Especially when you're a small business. Gusto is making payroll, benefits, and HR easy for small businesses. You no longer have to be a big company to get great technology, great benefits, and great service to take care of your team.

For a limited time, Gusto is offering a deal to Smart Agency Master Class listeners. Check out Gusto.com/agency for 3-months FREE once you run your first payroll with them.

Building Your Agency

I have advice for challenges you will face building your agency including recognizing common agency mistakes, how to keep great agency employees in your team as well as fostering the connections made with clients. If it’s challenging growing your business, I have agency growth hacks, the best ways to improve management of your business as well as why building a remote team can be beneficial in the long run.

Learn more about my experience, as well as tips, tricks, and insights by checking out my blogs that cover a wide variety of topics.

You can learn more from my experience from my Ask Swenk series and my videos on my Youtube channel. Check out the advice and learn even more from other successful agency experts featured on Smart Agency podcast twice every week.

Direct download: What_Agency_Pricing_Model_Helped_One_Agency_Grow_Super_Fast_.mp3
Category:general -- posted at: 5:00am EST

Are you considering starting an agency but worried now's not the right time? Are you afraid of failure or the added pressure of these uncertain times? It's totally understandable! Starting a business is scary, but especially during an economic downturn. So you might be surprised to learn now may actually be one of the best times to start an agency.

In this episode, we'll cover:

  • Should you start an agency during an economic downturn?
  • Does your agency have a challenger mindset?
  • Why self-awareness is key to your agency's continued growth.

Today I sat down for a timely conversation with Scott Cullather, co-founder and CEO of INVNT, a live-branding storytelling agency. Scott started his agency right at the start of the economic downturn in 2008 and says doing so helped define who his agency is today. He's here to talk about how his agency thrived during a poor economy and what agency owners need to know today.

Should You Start an Agency During an Economic Downturn?

There's no doubt we are in one of the most volatile economies in our lifetime. Stocks are in flux, businesses are closing, and realistically, we have no idea what is going to happen tomorrow. But did you know now is actually the perfect time to grow an agency?

Scott says one of the reasons his agency found success in 2008 is because there was literally nowhere to go but up. They had no employees, no overhead, and yes, no clients. But this meant every account they gained was one to be celebrated. And each one after was a sign they were moving up. When you have nothing to lose, it takes away your crutches. You don't think about what a certain decision might cost, but rather, what you have to gain.

Does Your Agency Have a Challenger Mindset?

Scott says starting during an economic meltdown set his agency up with a challenger mindset. Where larger, slower, flatfooted companies were making cuts and avoiding risks, INVNT was able to develop messages, strategies, and campaigns that were not only on brand but were designed to shake things up.

Scott says this challenger mindset isn't one the agency has simply moved on from. Instead, it is what pushes the agency to grow. Being scrappy is everything. When you become complacent, that's when you're in the danger zone.

Why Self-Awareness is Key to Your Agency's Continued Growth

An agency owner must be self-aware of the decisions they make and their approach to business. Naturally, you should change your processes and systems as your agency evolves.. While you should always be willing to adapt and grow with the market, never lose that spark and drive you had when you first started your agency. It's like a football team who is up 21-0 that decides to change their strategy. If they lose their drive, they'll quickly find themselves down 28-21. Scott says he's always challenging his team to stay focused and grounded to the core principles that got them to where they are today.

Often the ones who find the most success are the ones who aren't afraid to take a risk. When everyone else is stepping back, this is your opportunity to step up. Be scrappy, take chances, and don't be afraid to make big moves. When you start with a fighter attitude you'll discover it's likely a mindset that will stick around.

Ready to See How Your Agency Financials Stack Up?

Agency Dad is the accounting and forecasting solution designed specifically for agencies. And for a limited time, Smart Agency listeners can get a FREE AUDIT so you can compare your agency's financials to the industry benchmarks.

When you know your numbers you can make smart decisions in order to grow your agency. Agency Dad will take you to the next level with bookkeeping, financial dashboarding, and forecasting built specifically for agencies.

Head over to AgencyDad.money/freeaudit/ to receive a free audit on your agency's financials.

 

Direct download: Should_You_Start_a_Digital_Agency_in_an_Economic_Downturn_.mp3
Category:general -- posted at: 5:00am EST

Has your agency recently experienced major changes? Is it time to transition away from how you used to do things? Is it time to promote key employees or buyout a partner? Being able to adapt to the market and the needs of your individual agency is one of the best ways to find long term agency success.

In today's episode, we'll cover:

  • Why your agency should always be open to change.
  • Should you promote a key employee to an agency partner?
  • Does your agency have a succession plan?

Today I sat down for a talk with Cherie Hebert, owner and CEO of BBR Creative out of Lafayette, Louisiana. Cherie has owned her agency for over 23 years now and has naturally seen her agency experience a lot of change. She's here to talk about how she's found longevity and why it's important to be open to changes as they come.

Why Your Agency Should Always Be Open to Change

We've always heard that one person say, "But this is how I've always done it." This, for me, is always the kiss of death. If you want to be successful, whether you're running an agency, or just in life in general, you have to be open to change.

Cherie says she started her agency as a creative. For the most part, they offered design creative and eventually PR. But as things do, the agency realm began to change. When BBR lost a major client and gained another who focused more on digital outreach, they knew they needed to make a change and evolve with the times. Cherie hired a digital strategist who was able to train the team on the basics of SEO. SEM, and paid search. This new person was also instrumental in helping the agency launch into the digital arena. He was also the right person to hire more digital marketing talent and be the catalyst for the change the agency needed.

Should You Promote a Key Employee to Agency Partner?

The answer is, maybe -- it all depends on timing. Cherie says she has never lost an employee to another local agency. Where she loses team members is to other markets and bigger agencies that offer more opportunities. That is why Cherie regrets not offering her digital strategist a partnership role in the agency before he left.

Here are 2 reasons why you might want to offer a key player a partnership role:

  1. You can't always compete with the bigger fish: BBR is located in a relatively small market. While they don't have much local competition, they have lost a number of employees to out of state agencies. If someone holds an instrumental role in your agency, sometimes giving them ownership can promote loyalty and investment in the agency.
  2. Adding on a partner is an investment: BBR's digital strategist played a big role in vetting and training new employees. He helped the firm transition to a broader scope and work with new clients. When you bring on someone that adds this type of value, it's an investment into your agency's future.

Does Your Agency Have a Succession Plan?

In the beginning, we have a tendency to focus on the short game. Thinking about who will take over the agency or how your legacy will live on isn't something that typically comes at the early stages. But at 56-years-old, figuring out a succession plan is something at the top of Cherie's mind.

Cherie has bought out one partner, with another soon to follow. She's soon to be the sole owner of the agency. What comes next? That's something Cherie is trying to figure out. As an agency owner, it's something you should always keep in the back of your mind.  For starters, Cherie has decided to offer her VP's a partial stake in the agency. I usually suggest a Key Employee Program -- which protects your key employees with some profit-sharing yet prevents you from giving away ownership. (There's more detail about this in the Agency Playbook.)

Whether you have been in the business for 5 years or 25 years, one of the best ways to find success is to be willing to adapt and make changes when necessary. Don't be afraid to try new things, but be true to yourself. If you do this, you're more likely to be satisfied with how everything turns out in the end.

Looking for a Payroll and HR Solution for your Agency?

Payroll and benefits are hard. Especially when you're a small business. Gusto is making payroll, benefits, and HR easy for small businesses. You no longer have to be a big company to get great technology, great benefits, and great service to take care of your team.

For a limited time, Gusto is offering a deal to Smart Agency Master Class listeners. Check out Gusto.com/agency for 3-months FREE once you run your first payroll with them.

Building Your Agency

I have advice for challenges you will face building your agency including recognizing common agency mistakes, how to keep great agency employees in your team as well as fostering the connections made with clients. If it’s challenging growing your business, I have agency growth hacks, the best ways to improve management of your business as well as why building a remote team can be beneficial in the long run.

Learn more about my experience, as well as tips, tricks, and insights by checking out my blogs that cover a wide variety of topics.

You can learn more from my experience from my Ask Swenk series and my videos on my Youtube channel. Check out the advice and learn even more from other successful agency experts featured on Smart Agency podcast twice every week.

Direct download: Why_Embracing_Change_Leads_to_Longterm_Agency_Success.mp3
Category:general -- posted at: 5:00am EST

Do you know what separates your agency from competitors? Are you looking for a way to attract new clients and hold on to the ones you have? Clients have a lot of choices when it comes to choosing an agency. So how did a fourth-generation, 90-year-old marketing agency continue to adapt and thrive? 

In today's episode, we'll cover:

  • A 90-year-old agency and why your story is important.
  • How to use a podcast for agency lead generation.
  • 2 ways to protect your agency's future.

Today I had a really fun talk with Jamie Michelson, President and CEO of SMZ, a digital advertising agency. SMZ was founded by Jamie's grandfather in 1929 and has made it through the great depression, numerous wars, and of course the challenges we now face with COVID 19. As a third-generation agency owner, Jamie has seen a lot. He's here to talk about how his agency has persevered and what they are doing now to continue to grow.

Why Your Agency's Story is Important

I always tell agency owners I work with, you have to have a unique story that separates you from everybody else. For SMZ, they have been around for over 90 years and have been able to leverage that history to build and foster relationships that last for decades. But it's more than just their history. Jamie's philosophy is to do all the stuff their clients expect of them and then throw in a little extra. Not taking anything for granted and focusing on people first is what helps SMZ maintain energy and keep clients around.

Your story doesn't have to go back 100 years. You simply have to figure out what makes you different. Are you a small firm? Use this to your advantage. Do you provide a service most agencies don't? Showcase it. Find what connects you to your clients.

How a Podcast Can Help Your Agency Find New Clients

I am always surprised at how many agency owners don't have a podcast. A podcast is one of the best ways to expand your reach and gain authority. Jamie started his podcast just over a year ago and is still learning the ropes. But he's already reaping the rewards.

Jamie says, some of the people who appear on his podcast wouldn't even give him the time of day if he approached them from a business development angle. But with the podcast, these same people have become great prospects. When you create a podcast, it's so much more than vanity metrics. Focus on your audience and the relationships you can create and foster.

2 Ways to Protect Your Agency's Future

If you're wondering how many agencies have been around for three generations, the answer is, not that many. Jamie says this type of longevity is extremely rare. So what can you do to create an agency that can be passed down for generations?

  1. Always build your pipeline: Always keep your foot on the gas. I've always made it a priority to be able to look three or six months down the road to see where my agency is at. When you do this, you gain clarity, make better decisions, and can be proactive instead of reactive.
  2. Be willing to adapt: The sign of a great agency owner is to be able to adapt and constantly grow. Even if something doesn't seem worthwhile at first, as the data comes in, you need to be willing to change your mind.

Longevity isn't something that comes by accident. It's a lot of resilience and hard work. Keep your foot on the gas and continue to foster relationships. When you do this, you'll find it easier to find long-term success.

Ready to See How Your Agency Financials Stack Up?

Agency Dad is the accounting and forecasting solution designed specifically for agencies. And for a limited time, Smart Agency listeners can get a FREE AUDIT so you can compare your agency's financials to the industry benchmarks.

When you know your numbers you can make smart decisions in order to grow your agency. Agency Dad will take you to the next level with bookkeeping, financial dashboarding, and forecasting built specifically for agencies.

Head over to AgencyDad.money/freeaudit/ to receive a free audit on your agency's financials.

Direct download: How_a_90-Year-Old_Agency_Continues_to_Thrive.mp3
Category:general -- posted at: 5:00am EST

How well do you connect with your clients? Do you know what your clients really need? Do you have a system in place to solve clients' problems? Sometimes we automate things to be more efficient, but we lose connections in the process. Personalization can bring back the human element, make your clients feel valued, and help you get to the heart of what your clients need.

In today's episode, we'll cover:

  • Why agency automation needs more personalization.
  • 2 reasons to treat your agency like a client.
  • How systemization can help your agency grow.

 

Today I sat down for a chat with Anthony Baxter, owner of Firefly, a performance digital marketing agency based out of New Zealand. Anthony started his career in telemarketing sales and has implemented a lot of what he's learned from his past position into how he runs his agency now. He's here to discuss how agencies can benefit from getting back to the human connection.

Why Agency Automation Needs More Personalization

In an age that's highly digital, it's easy to automate everything. Chatbots can answer questions, email systems can send out automated replies, and CRM's can make it simple to manage clients. So it's easy to ignore the human element. While these tools do make things easier, they often don't take into account what matters the most — your client.

Anthony says he's a big fan of picking up the phone and having a conversation. When you have that one-on-one connection, it's easier to understand what your client truly needs. Don't just go all-in with one way to reach out to your clients. It's important to have multiple touchpoints.

I suggest using automation to make routine tasks easier but not to replace personal interaction. Have automation but also have personalization. Do your own marketing, but don't be afraid to pick up the phone. By testing and trying out various strategies, you can figure out what approach works best for your clients and your agency.

2 Reasons to Treat Your Agency Like a Client

When Anthony first started Firefly, his team spent 50% of their time working on internal projects and creating strategies to help the agency grow. Anthony says, if you're a digital agency, you're good at digital. So why not use your own resources to grow your agency? Firefly has seen two major benefits from this approach:

  1. Strong culture: We talk about the importance of agency culture all the time. When you spend time focusing on your internal processes and ways to grow your agency, it shows your team your business is just as important as the ones you are working with.
  2. Better leads: Anthony says pain points are one of the fastest motivators for sales. If a prospect has a problem and you can solve it, they're more likely to become a client. When you work on your agency, you'll find it easier to understand your vision, recognize these pain points, and be the fix.

How Systemization Can Help Your Agency Grow

Anthony says systemization has been the key to growth. In the beginning, he held all the agency knowledge himself which created a bottleneck. But over time he has learned the importance of systemizing processes in everything from operations to fulfillment and even sales.

In fact, Firefly's systemized sales process has created efficiencies and sped up their sales cycle. This helps them deliver a predictable result every time. This results in happy clients and an efficient agency team. Change is inevitable. And as agencies, we are competing against talent. So Anthony says we must take our systems and bottle them in order to adapt easier and grow faster.

To be a successful agency, you have to figure out what works. A lot of that comes from looking within. When you focus on your process and building those key relationships, you'll find it easier to have the freedom to focus on what you want to do.

Looking for a Payroll and HR Solution for your Agency?

Payroll and benefits are hard. Especially when you're a small business. Gusto is making payroll, benefits, and HR easy for small businesses. You no longer have to be a big company to get great technology, great benefits, and great service to take care of your team.

For a limited time, Gusto is offering a deal to Smart Agency Master Class listeners. Check out Gusto.com/agency for 3-months FREE once you run your first payroll with them.

Direct download: Does_Your_Agency_Automation_Eliminate_Personalization_.mp3
Category:general -- posted at: 5:00am EST

Do you use your bank balance to gauge how well your agency is doing? Do you know and understand your key marketing agency financials? Or are you making business decisions blindly? A solid handle on financials and forecasting is one of the best things you can do not only to see where your agency is at but also to make decisions for the future.

In today's episode, we'll cover:

  • Does your agency make proactive decisions?
  • 5 financial benchmarks every agency should maintain.
  • How to use benchmarks to plan for the future.

[smart_track_player url="https://traffic.libsyn.com/secure/jasonswenk/Do_You_Know_Your_Key_Marketing_Agency_Financials_.mp3" ]

Today I sat down for an informative discussion with two men who really have a handle on agency finances. Adam Stoker is the president and CEO of Relic and EKR. Nate Jenson is partner at an outsourced CFO agency and the founder of Agency Dad. Agency Dad is an accounting solution focused on helping marketing agencies make better decisions based on their financials.  They're here to talk about the key numbers your agency should be looking at and how you can use this data to help your agency grow.

Does Your Agency Make Proactive Decisions?

When Nate started working with Adam, his agency was struggling. He had a revolving door of bookkeepers who could barely keep the books straight, let alone help him plan for the future. Nate says one of the biggest flaws agency owners have is making reactive decisions instead of being proactive. He says when you understand finances and what you are actually looking at, you can make better decisions. You have to establish benchmarks. This way you know what you should be spending, where you are actually spending, and where you have room to make cuts.

In the same line, you need to stop making decisions with your gut. Say, for example, you notice one of your teams is running a little ragged — they're obviously stretched thin. The gut-jerk reaction is to hire more people to take on some of the extra work. But is this the right choice? With metrics, you can see whether your team is busy because you're not charging enough, people are misusing their time, or if you really do need to hire more.

5 Financial Benchmarks Every Agency Should Maintain

Nate says having cash on hand is an important metric to look at, but it only tells you where you are at this exact moment. Benchmarks and KPI's help you plan for the future. In general, there are certain benchmarks all agencies should work towards. If you are way off, it's time to make a change. According to Nate, these are the percentages you should be hitting in each business expense category.

  • 25% profit (EBITDA)
  • 55% compensation
  • 5% marketing
  • 5% rent
  • 10% other general admin costs

Sure, there's a little wiggle room. But you really want to stay as close to these numbers as possible. This is why having a good bookkeeper is really important. These numbers mean nothing if the data entry is not accurate. Don't skimp in this area.

How to Use Benchmarks to Plan for the Future

A lot of the time, agencies think they are at a certain level. When, in reality, they have no idea what will happen tomorrow. When COVID hit in March 2020, Adam and Nate sat down and looked at where they had room to cut. The sudden change in economic conditions greatly affected the agency's clients.  They made the decision to cut employee wages (and their own) by 10%. But because they had this foresight and were able to track their metrics, at the end of the year, the employees got all this money back, plus profit sharing. Proper forecasting helps agencies make proactive decisions, rather than reactive ones.

Without planning, you can't make good decisions. Sit down, look at your metrics, and see how close you are. And don't be afraid to invest in a good accountant. Knowing where your money's going is the best way to help your agency grow.

Ready to See How Your Agency Financials Stack Up?

Agency Dad is the accounting and forecasting solution designed specifically for agencies. And for a limited time, Smart Agency listeners can get a FREE AUDIT so you can compare your agency's financials to the industry benchmarks. 

When you know your numbers you can make smart decisions in order to grow your agency. Agency Dad will take you to the next level with bookkeeping, financial dashboarding, and forecasting built specifically for agencies.

Head over to AgencyDad.money/freeaudit

Direct download: Do_You_Have_a_Handle_on_Your_Marketing_Agency_Financials_.mp3
Category:general -- posted at: 5:00am EST

Do you struggle to get agency clients to understand your value? Wish you could be paid what you're worth? Have you ever considered a value-based or performance pricing model? The simple fact is, some clients need to see performance results in order to appreciate value. So if you want your agency to get paid what it's worth, you need to present your agency as an authority.

In today's episode, we'll cover:

  • Do you have to niche down to grow your agency?
  • Why it's important for your agency to build authority.
  • Are you leveraging results to gain trust?

Today I sat down with Todd Juneau, co-founder of Vuja De, a digital media agency. Todd got started in the agency world during the dot-com era and has subsequently seen a lot of change in the industry. But at the same time, he says, a lot of things have stayed the same. He's here to talk about what this means to agencies today and why his agency is so focused on results.

Do You Have to Niche Down to Grow Your Agency?

If you have listened to my podcast more than once, you've probably heard a recurring theme — niche, niche, niche. It's no secret, it's my belief you have to specialize to grow your agency. But does that really mean you can't be a full-service agency?

In our discussion, Todd says, the main thing he has seen over the past 10 years is specialization. The funnel is becoming narrower and narrower. Clients want an agency that is the best at what they do and to put it simply, it's hard to be a jack of all things and be great in any one area. Start with one thing and become the best in your field. Then, as you grow, you can build different practice areas, bring in new people, and move towards being a full-service agency, if that's what you want.

Why It's Important for Your Agency to Build Authority

Today, Todd says many agencies have transitioned to a more specialized, highly skilled model of service. But one of the biggest challenges agencies face now is things haven't evolved as much when it comes to how clients view agencies.

In the 60s, traditional media agencies could get away with 15% commissions because there was less work to do. But now, campaigns require more technology, more specialization, and more human capital. The 15% model just isn't feasible to be profitable and find success.

So how do you get your clients to see the value in your work? It's actually pretty straightforward —build your authority. Start a podcast, create videos, or just go out and speak. When people see you as a trusted advisor instead of just another "me too" agency, they're more likely to pay you what you are worth.

Are You Leveraging Results to Gain Trust?

Todd's built his agency on results. In fact, his agency is so confident in their results they even have a performance-based pricing model. He says clients don't spend money because they want to, they do it to acquire customers and sell their product. When a client can look at the P&L and see, "Wow, we actually did sell more product," they typically have no problem paying you more. The key is to get your clients to stop looking at the vanity metrics and focus on how you are actually helping them achieve more. The good news is, agencies are beginning to shift in this arena and communicate the value of human capital and expertise.

At the end of the day, clients will get what they pay for. It's not your job to undervalue your services to attract new clients. When you narrow your focus, build your authority, and produce results, you'll have no problem getting clients to see how much your services are worth.

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Direct download: Do_Your_Agency_Clients_Value_the_Results_Youre_Achieving_.mp3
Category:general -- posted at: 5:00am EST

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