Thu, 2 April 2020
We are in uncertain times right now and so many agencies are facing challenges as a result of the global coronavirus crisis. Agencies are struggling with everything from cash flow and clients canceling to laying off employees. The silver lining is that no matter where your geographic location, we're all in this together. We are all up against the same issues. That's why I brought on a panel agency owners just like you to ask their questions and get real-time answers. In this episode, we'll cover:
Related: https://jasonswenk.com/thrive-economic-recession/
Direct download: How_to_Face_Agency_Challenges_During_the_Coronavirus_Crisis___QA_Session.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 1 April 2020
Are you struggling to get your foot in the door with the right clients? Do you have plenty of leads, but just can't convert? Web audits can help you close more new business deals faster and convert prospects easier than ever. In today's episode, we'll cover:
Today I sat down with Clifford Almeida, owner of Hire a Wiz, the digital agency he started 8 years ago. After years of perfecting web audits as their foot-in-the-door strategy, Cliff soon developed a Saas tool for agencies called My Web Audit. Clifford has found a wait to optimize this process to help agency owners grow their agency and convert more leads. In this episode, Clifford shares how audits helped his agency increase its closing rate nearly 40%. Why You Should Always Lead with ValueIf you have listened to the podcast, you've heard me say it before — the number one way to close more deals is to lead with value. When you lead with value, clients are more likely to trust what you have to say and see you as an authority. So how do you do this? Clifford says you need to show prospects how you can fix their problem. Anyone can talk all day long about how they will increase sales or convert more leads. But when you show a potential client how specific actions will affect their metrics, they'll have a better time visualizing the value of your services. How Audits Can Help Your Agency Increase Conversion RatesEarly on, Cliff discovered a way to convert more prospects into clients. Instead of selling his core service right away, he presented a web audit with indicators showing the prospect areas of improvement on their site. By pointing out what can be done better and the potential results of making improvements, their prospects became more inclined to work with Cliff's agency. When you provide upfront value at a low cost, you can establish authority, gain trust, and convert more prospects into clients. The key to a good audit is to make sure you focus on the client. Most audits are built for the agency, with little regard for the client experience. When you do an audit, you want to make sure you keep it short and sweet and address the client's specific pain points. You should be able to present your findings in about 30 minutes. There are a few ways to make sure the audit will be effective:
What Your Agency Can Do To Improve on Converting Leads.Clifford says in the year 2020, there is no shortage of leads. Where the big problem comes is converting those leads into clients. So where do most agencies fail?
It's important to talk to prospects in a way they will understand. Most of the time you will be talking to marketing directors who are trying to show CEO's, Presidents, or Owners the value in their services. Make sure you present your audit in a way that matters to them and makes them look good. Are you using audits to evaluate leads for your agency? If not, now's a good time to start. Clifford is offering a special deal just for Smart Agency Masterclass listeners. Check out My Web Audit for a FREE 7-day trial and 50% off any plan for 3 months.
Direct download: How_Web_Audits_Convert_More_Agency_Prospects_Into_Clients.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 30 March 2020
Do you have the right systems but still struggle to grow? Do you look at the big agencies and wonder how they got to 7- or 8-figures? It's all about having the ability to work with the right clients who can afford to pay what you're worth. In today's episode, we'll cover:
Today I sat down with Eric Vardon, co-founder, and president of Arcane, a Canadian-based digital marketing agency. Eric started his agency in 2011 with a keen focus on analytics and a clear understanding of his business. He's on the show today to talk about how you can get your agency to a point where you're able to pick and choose which clients you want to work with. How to Turn More Prospects Into ClientsAs a digital marketing agency, it's your job to get clients to see the value of your services. Clients aren't eager to hand over money for a strategy that might work. This is why so many agencies have difficulty finding success — they don't know how to convince clients to take the risk. So how do you get a client to see the value in what your agency offers? Make the pitch less subjective. Show potential clients actual figures to show you've run the numbers and care about their bottom line. Arcane does their homework and researches the client. Within the first couple of meetings with a potential client, Eric's team is able to understand the business' revenue goals and profitability. Using this information, they build a spreadsheet and proposal outlining the specific metrics needed to achieve results. When your client can actually see the numbers and ROI, they are more likely to take the leap. 2 Key Factors to Establish Effective PricingPricing is a big part of your agency's growth and success. Set the price too high and you'll have difficulty finding clients. Set it too low and the good clients won't take you seriously. At the end of the day, your goal is to be profitable. How much do you need to charge in order to achieve this goal?
How Your Agency Can Pick and Choose ClientsIn the beginning, most agencies are stuck working with any and every client. However, eventually, we all want to get to the point where we can be more selective about which clients we do and don't want to work with. One of the best ways to do this is to bring on solid leadership and surround them with a good team. While Eric is the co-founder and president of Arcane, he brought on a CEO and a COO to focus on the day-to-day tasks. His COO comes from the public accounting industry and has been a critical part of developing the agency's financial strategy. The agency's CEO is a former HR professional. She knows the human side and is able to use her experience to work with clients and foster a successful team. Together, they create the perfect balance. Arcane's rapid success comes down to partnership, clarity, and accountability. Eric and his team frequently come together to discuss what they want, what makes them happy, and where they want to go. It's about understanding your agency's vision and communicating it to the team. Sometimes it's the simple things that bring the most success. When you understand what it takes to make your agency profitable and create a plan to get there, the rest is yours to pick and choose.
Direct download: How_One_Agency_Grew_to_15_Million_in_Under_10_Years.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 25 March 2020
Are you struggling with spending too much time working in your agency, instead of on your agency? Do you spend a whole lot of time dealing with the stuff you hate and not enough time on the things you love? Agency owners have a tendency to dive right in and engross themselves completely in their work. But when you create a more autonomous agency you will find more freedom in your role. In today's episode, we discuss:
Today I sat down for a fun episode with Max Borges, owner of Max Borges Agency. Over 18 years, Max found the more he worked, the busier he got. He quickly realized his current agency model wasn't sustainable and he had to make a change. He's on the show to share the four phases of creating an autonomous agency. How to Move Past the Desperation StagePhase 1 - Anything for MoneyWe've all experienced what Max calls stage one of his path to create an autonomous agency — AFM "anything for money." This is the stage where most agency owners start out and accept any and all projects... because they don't know what they like, what they don't like, what they're best at, and what they suck at. At this point, your agency hasn't yet discovered its niche and may or may not have a few employees. The work in this stage is hard but it is something you have to go through to get to phase two. In phase one, you need to spend time exploring what you are good at. Don't spend all your time trying to be good at things you don't like or you're just naturally bad at. You don't need to be good at everything, but you do need to find something you are better at than anyone else. #1 Way to Separate Your Agency from Everyone ElsePhase 2 - RevelationNext up is the revelation phase. This is where agencies begin to discover and develop their path. During phase two, you've finally realized what you are good at and can start spending more time on things you love while leaving things you don't love to someone else. (Related: How to Stop Doings Things You Suck At) I've said it before, and I'll say it again; the best way to separate yourself from everyone else is to find your niche. When you get to phase two, you know what you like, what you're good at, and what your team is good at. Remember, you're running an agency. This means your vision is important, but you're not the one doing the heavy lifting day in and day out. Your team should be good at what they do and be able to do it without you. Surround yourself with people who share your values and ideas and focus on what they're good at. How Your Agency Can Benefit By Leading with StrategyPhase 3 - Strategic DriversOnce you know what you are good at and have your niche, you still need to develop a strategy to make you the go-to agency in your niche. Unless you have some really obscure, specific niche, you're going to have competition and need to set your agency apart. You have to provide a unique service or have a process that differentiates you from other agencies. This may just mean realigning or narrowing your niche's focus. For Max, his agency focuses on media relations for consumer technology companies. While other agencies focus on consumer tech, most of them don't spend enough time on media relations. This is Max's strategic advantage. What Happens When You Dominate Your NichePhase 4 - Niche DominanceAt this stage in the game, you are the accepted leader in your niche. You may find your competition dwindles as other agencies discover you're the best. Getting to stage four is a lot of work, but once you do, you'll find your agency is a lot more autonomous than when you first began. It's not impossible to focus on what you love and actually enjoy your work. When you create your agency with intention and work diligently through the phases, you'll find success comes easier. 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 Masterclass listeners. Check out Gusto.com/agency for 3-months FREE once you run your first payroll with them.
Direct download: 4_Phases_of_Creating_an_Autonomous_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 23 March 2020
Are you struggling to get your team more engaged with their work? Do you find yourself doing work your employees should feel empowered to do? Employee engagement is an often misunderstood and undervalued part of running an agency. But it can make all the difference in your agency's success. In today's episode, we'll cover:
Today I had the chance to chat with Christopher Creel, author of the new book, Adaptive. The book looks at the traditional workplace hierarchy, and questions, "What would happen if we flipped it all on its head?" Christopher uses chatbots for much of his processes, but many of the strategies we discuss can be implemented into everything you do. Read on to find out what Christopher says is the key to increasing employee engagement. Why Agency Employee Engagement Is So ImportantEmployee engagement is something many leaders take for granted. But it's something agency owners should pay more attention to. Christopher reviewed employee engagement across the board. The results showed that four out of ten employees are disengaged from the organization they work in. Why is this important? It's because there is a direct correlation between employee engagement and strategy. When an employee is engaged and feels individually invested in the success of the company, they are more likely to be on board with your strategy and not only share the same goals as you do but also work to help you create strategies to meet those goals. When you have an engaged team, you automatically have a step up on the competition. 3 Things to do to Raise Agency Employee EngagementSo how do you increase employee engagement? We all talk about creating a "team," but the numbers show, a manager's actions don't always represent what they say they want. You have to make an active effort to make your employees feel engaged:
Why and How You Can Implement Servant LeadershipWhat is the servant leadership model? Most companies work on the power leadership model, where there is one boss who tells the rest of the team what to do. The model is flipped upside down with servant leadership. The leadership puts the employees first and is there to support them and do what it takes to find success as a team. How do you get there?
As much as we'd all like to believe we are superheroes that can do it all, the truth is, most of us would be nothing without our team. When your employees are engaged in their work, not only will they be happier, but your agency as a whole will likely find it easier to achieve success. Want Help Pitching and Winning More New Business?Imagine a partner who helps you streamline Google Ads, Facebook, and Bing workflows, recommends genius optimizations across platforms, and then brags about the results to your clients for you. What if that partner could also help you grow your agency by making it easier to pitch and take on more clients? In a nutshell, that's what Wordstream will do for your agency. And in support of the podcast, Wordstream is offering Smart Agency Masterclass listeners a FREE 14-day trial and complimentary sales-tool add-on. Just check out Wordstream.com/smartagency for more information.
Direct download: Why_Employee_Engagement_Is_Important_to_Your_Agencys_Success.mp3
Category:general -- posted at: 5:00am MDT |
Wed, 18 March 2020
Are you struggling to let go of some of the control and bring on new team members? Or, when you bring in new talent do you discover they have no idea what to do? A lot of your agency and team's success comes down to process. If you don't have an established process or documented SOPs, your team doesn't have a map to follow. In today's episode, we'll cover:
Today I sat down with Damon Burton, founder of SEO National. Damon started his agency 12 years ago when SEO was just becoming a thing. Now, Damon says he has retained many of his original clients and has learned how to build a team he trusts. Damon is on the show to share tips on how you can do the same. Does Your Agency Have Long-Term Sustainability?We're in the midst of the, "I want it now" era. People are easily distracted, quickly moving from one thing to another. With social media, it's swipe left, swipe right, like this, and move on. In this fast-paced world, a lot of people are clambering to get attention. And a few do. But often, those that grab ahold of today's current shiny thing find themselves wondering why they are not seeing any long-term success. Damon says he has a lot of the same clients he had when he first started his agency, and he attributes a lot of this stability to consistency. While SEO sees some changes here and there, overall, it's the same basic principle. As an agency owner, you have to be careful about jumping onto trends or buying into the "next big thing." Stick to your values and principles, and you're more likely to find long-term success. Why and How to Document Agency ProcessesOne of the most important things you can to do help your agency grow is to develop a process for everything and stick to it. Processes help reduce variation and are a huge asset when you bring on new employees. Look, without SOPs you're SOL. :) Damon says many agencies fear bringing on new employees because they feel new people will mess everything up. But if you have bad employees, it all comes back to you. If you have hired competent team members and they are failing, it's because you don't have processes, or you haven't found an appropriate way to document your processes. There are many ways to document your process. The most important thing is to get it done. Damon spent two hours every other day for a year, writing down his processes. My system for documenting processes was recording videos and screencasts of tasks I wanted to delegate. To avoid spending hours documenting your processes or spending a bunch of money to have someone write up two years worth of work, document as you go. 2 Secrets to Finding New TalentDelegating is a great way to free up time to allow you to focus on more important tasks. But it's all about having processes in place and hiring competent team members. So how do you find the right people for your team?
Developing a process and learning how to delegate are two of the most important things you can do as an agency owner. Remember, you don't have to do it all, you just need to be able to hire the right people. 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.
Direct download: How_SOPs_Will_Set-Up_Your_Agency_Team_for_Success.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 16 March 2020
Have you considered creating a podcast, but don't know where to start? Are you looking for a new way to get clients engaged without coming off "salesy"? Podcasts are a great way to connect with more prospective clients. As an added bonus, they are one of the easiest ways you can generate leads for your agency. In today's episode, we discuss:
Today, I sat down with Mark Lipsky, founder of The Radio Agency. The Radio Agency is a radio-only digital marketing agency. They focus on radio — nothing more, nothing less. Over the past 26 years, Mark has discovered what makes radio great and what makes it stand out from the rest. Mark shares with us what he learned and why you should consider incorporating podcasts into your marketing approach. 3 Reasons Why Podcasts WorkYou may think, "I don't need to start a podcast, my blog is doing just fine." And that may be the case. But podcasts open up new possibilities that may not currently exist for your agency. Podcasts are portable. Consumers can listen to your podcast whenever, wherever. But more importantly:
Why Your Agency Should Consider a PodcastBut isn't a podcast a lot of work? Not at all. There are so many apps where you can create one in just a few minutes on your own. Of course, there are options to make them more technical and expand your reach, but there's nothing complicated about creating a podcast. But why should you invest your time in a podcast?
3 Ways to Make Your Voice Shine ThroughJust like anything else, the goal is to stand out. With thousands of podcasts covering a variety of subjects, it's just as easy to be a "me too," podcast as it is a "me too," agency. Voice is what will make you stand out. How do you do this?
In marketing, it's important to embrace all forms of media. Podcasts are a great way to share your message, show your voice, and connect with your audience. Want Help Pitching and Winning More New Business?Imagine a partner who helps you streamline Google Ads, Facebook, and Bing workflows, recommends genius optimizations across platforms, and then brags about the results to your clients for you. What if that partner could also help you grow your agency by making it easier to pitch and take on more clients? In a nutshell, that's what Wordstream will do for your agency. And in support of the podcast, Wordstream is offering Smart Agency Masterclass listeners a FREE 14-day trial and complimentary sales-tool add-on. Just check out Wordstream.com/smartagency for more information.
Direct download: How_Podcasting_Will_Help_Connect_You_With_More_Agency_Clients.mp3
Category:general -- posted at: 3:00am MDT |
Thu, 12 March 2020
Can you grow your agency during a recession? What should you do to make sure your agency survives a downturn in the economy? How can you flip current conditions to benefit your business? In this video, I'll talk about how you can grow your agency during a threatening economic market. I'm already hearing from agencies saying clients are backing down their spending, some are losing deals in the pipeline... it's partially a result of global panic over the coronavirus outbreak. Now, when I owned my agency for 12 years, we went through many economic threats during the Dot-Bomb Era, September 11, and the 2008 market crash... and we were able to survive, even grow at those times. So here we are again at the threshold of a downturn in the economy. How can your agency not only survive but grow in a recession? In my mastermind group, we did a lot of talking about this exact topic and what these 7-figure agency owners are doing about it. These successful agencies are finding opportunity in the face of challenge... For example, do your clients do a lot of trade shows or conferences? Those events are getting canceled, so show them how to spend more on digital marketing. Think outside the box! What you need to do is get more creative and opportunistic. Spend more when people pull back on spending because your cost per acquisition is going to go down. Don't be afraid to spend when everyone else is afraid because that's when you're going to get the biggest bang for your buck. Bottom line -- don't participate in the recession unless it's to take advantage of it! Where are your opportunities during this health threat and economic recession? Comment below and tell me how you can get creative. Also, if you want accurate and reliable information (without the hype of the new media :) check out: World Health Organization: https://www.who.int/ US Center for Disease Control: https://www.cdc.gov/ SUBSCRIBE NOW to follow my entrepreneurial journey. https://www.youtube.com/playlist?list=PLDvZHFVeqEMq58q6tMoyMK-ufpp0ysoVP ======================================================= Thanks for watching. I hope you keep up with the daily videos I post on my channel. Make sure you subscribe and share your learnings with others. Your comments are why I do this, so please take a second and say hello. JASON SWENK IS AN AGENCY ADVISOR THAT GUIDES MARKETING AGENCIES THROUGH A PROVEN FRAMEWORK FOR GROWING THEIR AGENCY FASTER & EASIER. Fresh out of college Jason was off to work for Arthur Anderson, one of the big 5 consulting firms. He quickly realized that he could never work for anyone other than himself. He decided to change direction, launch a digital agency that quickly grew to a multi-million dollar operation working with brands such as AT&T, Hitachi, and Lotus Cars. After 12 years of steady growth, the agency caught the attention of bigger agencies and Jason sold it in 2012. Now, Jason leads http://JasonSwenk.com, a unique media company & consultancy helping marketing agencies grow & scale their agencies faster by applying the framework that he used to grow, scale and eventually sell his agency. Jason has helped over 10,000 agencies in 23 countries meet or exceed their business goals. Jason currently hosts two shows that are available for download… The Smart Agency Master Class Podcast, dedicated to providing tactics and strategies to agency owners and decision-makers that cut through the BS, focus on exactly what works and what doesn’t; and SwenkToday a daily VLOG that documents the entrepreneur journey of building another multimillion-dollar business, where he shares the latest strategies and answers the most burning questions entrepreneurs have. SCHEDULE #SwenkToday Q&A from my digital agency audience Ask me A Question http://jasonswenk.com/askswenk Podcast Monday & Wednesday: (Digital Agency Interviews) https://itunes.apple.com/us/podcast/smart-agency-masterclass-marketing/id870206013?mt=2&ls=1 or http://smartagencymasterclass.com Follow me here: Website: http://jasonswenk.com Podcast: http://smartagencymasterclass.com Facebook: http://www.facebook.com/jasonswenk Twitter: https://twitter.com/jswenk Instagram: https://www.instagram.com/jswenk Linkedin: https://www.linkedin.com/in/jasonswenk Medium: https://medium.com/@jswenk/ Soundcloud: https://soundcloud.com/jasonswenk Music by epidemicsound.com
Direct download: CAN_YOU_GROW_YOUR_AGENCY_DURING_A_RECESSION_.mp3
Category:general -- posted at: 7:00am MDT |
Wed, 11 March 2020
Do you struggle to get agency clients to see the value of your agency's work? Does your pricing structure feel like it's completely out of whack? Not sure if your agency is competitively priced? Pricing and process are two areas where clients and agencies often have trouble finding common ground, but it can make all the difference when it comes to your agency's success. In today's episode we'll cover:
Today I had the opportunity to chat with Tammy Dahlin, owner of digital marketing agency Element 212, based out of Indiana. Though she has a degree in marketing, like so many of us, Tammy somewhat fell into starting her own agency. As such, she found herself undervaluing her agency's services and struggling to find a balance between the amount of work she puts in and client expectations. When she figured out she needed to implement a process and invite clients into the process, she discovered her place as a strategic agency. Find out what Tammy learned along the way. Do You Know Your Agency's Value?Anyone who has been in the agency realm (or any business, for that matter), understands the complexities of pricing. You don't want to price yourself too high where you're not attracting any clients, but you don't want to go so low they don't take you seriously. When Tammy first started her agency, she quickly realized just how much she was undervaluing her work. She says she charged about $600 for her first project where other firms were charging upwards of $15,000. Between working too much and charging too little, Tammy and her team slowly became resentful of the process. In the beginning, it's hard to accurately balance the client's perception of what they are getting with what they are willing to pay. So Tammy made a change. She upped her prices to be more in line with the work she was actually putting in. But she was still getting pushback. Now the clients thought her rates were too expensive. How Bringing a Client into the Process Can Build TrustNaturally, Tammy knew the value of the work her team was providing. Unfortunately, her clients weren't able to see all the research that was going into each project. But then it clicked. Tammy's team was already doing market research with the client and their customers, a process she calls "brand insight." She decided to bring the client into it that process and most importantly, charge for it. This had a dramatic effect on Element 212's growth. Clients were now able to see what was going on behind the scenes and appreciate the process. By giving the clients an "inside look," Tammy and her team could establish trust and get their clients more involved. #1 Reason You Need to Lead With StrategyEveryone can execute, it's the strategy that sets you apart. When you lead with strategy, your client will view you as the authority. When you don't lead with strategy, they will view you as a commodity. Early on, Tammy decided to market her agency as a strategic agency. Now she has developed a system where she has biannual meetings with her team and her clients to talk strategy. If they want to implement the strategy — great. If not, she gives them tips to make sure they all stay on the same page. Element 212 is an agency that focuses on strategy at its core. By being transparent about the process with her clients and bringing them into this process, Tammy has finally found a balance between customer expectations and the value of her agency's work. Pricing and strategy are two of the most complex and difficult parts of running an agency. But it's so important to get a handle on these areas from the start. When you do, you'll find everything else comes so much easier. 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 Masterclass listeners. Check out Gusto.com/agency for 3-months FREE once you run your first payroll with them.
Direct download: Do_Clients_Understand_the_Value_of_Your_Agencys_Work_.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 9 March 2020
Do you feel like no matter how smart you are about money, you just can't get a good handle on agency cash flow? Are you looking for a way to make sure your agency is prepared for times when there's a downturn in the economy? Cash flow can be a big problem, and it's one that few have a real grasp of. But when you understand the principles of a smart cash flow plan, you'll be ahead of the game. In today's episode, we cover:
Today I had the pleasure of talking with Steve Buck, co-founder, and president of Black Tie Digital Marketing. Steve's one of the rare ones who actually sought out a role in the agency space. After working for a big company in Rhode Island, Steve and his partner had a crazy idea — "Wouldn't it be fun to do this on our own?" In 2011, Steve and his partner started Black Tie and have learned a lot of lessons along the way. He's on the show to share insight on agency cash flow management. 3 Ways to Find Success as an AgencyThere are so many things to learn when you first start an agency. How do you get clients? What do you charge? And most importantly, how do you make a mark? Steve says he's learned a lot along the way, but much of his success comes down to a few basic principles:
What Does Good Cash Flow Really Look Like?Ask anyone in the industry how much money you should have in reserves and you'll get a WIDE range of answers. Steve says he's always been told 12 months is a good mark to strive for. Personally, I feel the number is closer to three months. Anything more than that and you're not investing enough back into your agency. Reserves are important and one of the basics in finding success as an agency. These reserves will make all the difference when the financial market undoubtedly goes south. Those that have reserves will survive (and thrive), while those that don't have cash reserves will make great employees when you're looking to hire. How to Control Your Agency's Cash FlowCash flow is so important. But why is it so hard? A lot of it comes down to basic management styles and human psychology. How can you avoid cash flow pitfalls?
Cash flow is one of the most important, if not THE most important part of running a successful agency. It doesn't matter how good you are at everything else if you can't manage your money. Be smart, think ahead, and make sure you have a plan for when things get hard. Want Help Pitching and Winning More New Business?Imagine a partner who helps you streamline Google Ads, Facebook, and Bing workflows, recommends genius optimizations across platforms, and then brags about the results to your clients for you. What if that partner could also help you grow your agency by making it easier to pitch and take on more clients? In a nutshell, that's what Wordstream will do for your agency. And in support of the podcast, Wordstream is offering Smart Agency Masterclass listeners a FREE 14-day trial and complimentary sales-tool add-on. Just check out Wordstream.com/smartagency for more information.
Direct download: How_to_Get_a_Better_Handle_On_Agency_Cash_Flow.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 4 March 2020
Ever feel like you're not connecting with the right clients? Afraid your agency doesn't stand apart from the others? Times are changing in the agency space, and those who adapt will be the ones who succeed. But how do you develop a growth strategy to do it the right way? Look at things through the lens of your ideal clients. In today's episode, we cover:
Today I had the chance to talk to Damien Cabral, co-founder of Tribal Vision. Damien started his agency about 9 years ago when he became frustrated with the current agency model and thought he could find a new approach. Damien and his partner flipped the switch and looked at an agency's job through the client's eyes. Find out what they learned and how this strategy has helped them find success. How to Set Yourself Apart From Other AgenciesIt's a great time to be in marketing! The market is hot, clients are hungry, and the value of agency services cannot be understated. The industry is flooded with "me too," agencies who want to be full-service and do everything for everyone. Those agencies are looking to get a piece of the pie, with nothing that really makes them stand out from the crowd. If you're a new agency owner or even one who has been around for a while, the battle to stand out from the crowd is stronger than ever. So what's the secret? For Damien, it was all about looking at things from the client's point of view. Damien's agency focuses solely on marketing. Everything else, they outsource to freelancers. What this means is there is no incentive to try to upsell a bigger website or get them to sign a deal that is not in the client's best interest — it's all about the client. Damien says by recognizing potential clients' pain points, Tribal Vision is able to be flexible with what the client needs. 2 Things You Can Achieve When You Lead With StrategyWhen it comes down to running an agency, those who find success have a solid strategy. Anyone can execute any day of the week, it's how you get there that makes you valuable. Damien says there are two reasons he leads with strategy:
Why You Always Need to Keep Your Ear to the GroundAs an agency owner, you should always be listening — keep your ear to the ground. Talk to your clients, talk to their customers, talk to your employees. And always pay attention to the market. You need to adapt. Take feedback. Be proactive. Listen to what the market is telling you. Sure, your idea may be great, but if the market doesn't support it, you're destined to fail. Don't fall too in love with your own ideas. Check-in with your employees. Talk to the people who are actually working with the clients. Do performance reviews, have regular check-ins and provide or be a mentor. Despite what you're led to believe — your team is not simply here to make money, they want to contribute. When you take the time to show people they matter, you value their opinions, and you care, you automatically stand out from the rest. In the words of Gary Vaynerchuck, "As we go more Jetsons, the people that act like the Flintstones are going to win."
Direct download: Why_Understanding_Your_Clients_is_the_Key_to_Agency_Growth.mp3
Category:general -- posted at: 5:00am MDT |
Mon, 2 March 2020
Does your agency struggle with an identity crisis? Do you find it challenging to stay up-to-date with current trends? We're in a space that is constantly changing and agencies who adapt and use the tools around them are the ones who survive. In today's episode, we discuss:
Today I sat down with John Wolffe, owner of Jennco, a digital ad agency out of Pennsylvania. John has worn a lot of hats throughout his career, and like many of us fell into agency ownership. Though he initially started out as a consultant, he somehow found himself doing work in a field he knew nothing about — pay per click. John leveraged this new skill and launched a successful digital agency. Take a listen to find out what John learned and how he was able to find success by learning to adapt. #1 Benefit of Adapting to the MarketWe all start our agency with a certain vision in mind — where we see ourselves in the future. This is important and what I like to refer to as your True North — what guides you. But while it's important to have a direction, it's also important to be flexible. Adapting to the market will allow your agency to grow and help you find new opportunities. The agency space is constantly changing. John recalled a story where he was at a conference and a speaker referred to a technology "Way back in 2017." Even now, 2017 doesn't seem too far away, but in the agency space, it can make all the difference. It's important to keep up with technology, pay attention to trends, and reinvent yourself if the circumstances call for it. For John, this took him into a realm he never thought he'd end up — PPC. How Your Agency Can Stay Up-to-date with Market TrendsIt's easy to say you need to be able to adapt and stay current with market trends, but how do you actually do it? John says a few things have helped him along the way:
Finding the Right Tools to Help Your Agency be More EfficientWhen you run an agency, the best way to grow is finding ways to be efficient. The key is to find the right tools that work for you. John says the one tool that has worked really well for him is WordStream. There are two key functions John has really gotten a lot out of:
It's important to leverage the technology that exists around you. John found that with WordStream, he could scale his agency and drive growth for his clients. A win-win! The agency space is one of those worlds where if you're not always on your feet, you will get left behind. But when you focus in, stay up-to-day, and use the tools around you, you're only setting yourself up for success.
Direct download: How_the_Right_Tools_Can_Help_Your_Agency_Adapt_and_Grow.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 26 February 2020
Would you like your agency to be more profitable? Are you setting goals you just can't seem to achieve? Goal setting is an important part of becoming a successful agency. But if you are not creating the right goals and don't have the right tools, you're never going to get there. In today's episode, we discuss:
Today I got to chat with Monica Louie, a Facebook and Instagram strategist who left the corporate world to have more flexibility and spend more time with her family. Since leaving her 9 to 5 job, Monica has blasted through some of the goals she set when she first began and developed a successful three-part business. Find out how Monica paid off over $120,000 of debt in just two years using clear goals and a lot of creativity. How to Set Achievable Goals for Your AgencyWe've talked about it several times, just how important it is to have a goal. Without a goal, it's hard to find your north star. But the type of goal you set is important. As are the tools you use to achieve it. So how can you make sure you don't fall short?
3 Ways to Build a Team to Help Achieve Your GoalsIt's futile to set a goal if you don't have a team that shares your vision. Your team will be one of the biggest components of your success. But the hiring process isn't always fun, nor is it easy. And job boards don't usually pan out. So what do you do?
Why Solid Leadership is Critical to Your Agency's SuccessGreat teams come from great leadership. We've all had that one boss that made going to work a miserable experience. Great leaders have teams who support them and want to work for them. What does this look like?
They say anything is possible if you set your mind to it. Make a goal, build a team, and take action to get where you want to go. 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: How_Setting_Goals_Will_Help_You_Grow_a_Successful_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 24 February 2020
Have you thought about offering content creation as a service but not sure where to start or how to charge? Content is a huge part of almost everything we do for our clients, but often times its the client themselves that hold up projects by not providing good (or timely) content. When you take control of content creation, your agency can help you be more successful in achieving the clients' goals. It may seem daunting to add content creation as a service, but it can also be very rewarding in the long run. In today's episode, we discuss:
Today I had the opportunity to sit down with my good friends at Verblio, Steve Pockross, CEO, and Paul Zalewski, Vice President of Marketing. Paul and Steve know a lot about content. After all, they run a content agency sourced with over 3,000 copywriters. Recently, Verblio sent out a survey to thousands of agencies to get a better idea of what agencies think about content creation, how they use it, and best practices surrounding content creation. Their findings may come as a surprise, but learning from them can help grow your agency and get better results for your clients. #1 Benefit of Creating ContentSteve and Paul say that as agencies, we should not expect clients to have the ability to create their own content. Yes, they might be the expert in their industry but they are not always successful at writing about it. According to Verblio's survey, of the agencies who felt their content was successful less than 20% of them curated content from the client. What does that mean? Well, it means that although the client is the industry expert they suck at writing about it! :) Let's be honest, clients are busy and writing is hard. So even though they mean well, they put writing on the backburner because it's a difficult, time-consuming task. The solution is for you, as an agency, is to take control over the content creation. By either writing in-house or outsourcing it, you can speed up your project cycle by half. For example, in most cases, a website build that would normally take 6 months, can be completed in 3-4 months when the agency is not waiting on the client to write and handover content. How to Charge for Content Creation ServiceOkay. You've decided you're going to start offering content — good! But how much do you charge? Well, according to to Verblio's survey 87% of agencies who felt they have a solid content creation service include the cost for it in their monthly retainer. And the vast majority of those agencies felt as though content was a major profit center for them. This is a key point because, as an agency, it might be easy to think content creation is an area where you can be competitive and price yourself lower than the competition. But when you spend the time and dollars it takes to do a great job you can make money on it. So, why race to the bottom? Verblio's survey indicated that the average agency is marking up content 200%. Why walk away from that kind of margin but undercutting yourself on pricing? There are 3 general options when it comes to charging for content:
Typically, when you make content a part of your service offering and show the benefits of incorporating it, your client will be will see the value. What Type of Content Are Agencies Creating?When you offer content creation, you give your clients an unfair advantage by using content to set them apart. It gets you a seat at the table with clients you wouldn't otherwise be seated at the table with. If you use a resource like Verblio it allows you to white label a service to scale your agency because you are relieving a pain point for your clients (and yourself). Consistency is key - stick with it and give it time. What type of content should you offer? The overwhelming majority of those surveyed said blog posts. So get over the idea that blogging is "So 2006." Blogging helps drive SEO and it still the #1 thing agencies are recommending in content strategies. Out of blog ideas? Do an audit of existing blog posts. Look for opportunities for a mashup or a refresh of older, outdated posts. Your clients have great ideas for content -- sit down with the Head of Products or the Head of Customer Service. Those are the people with content ideas -- they know the FAQ's.
Want to provide input about what works and what doesn't? Got a minute to take Verblio's survey? Want to try Verblio for yourself?
Direct download: Should_Your_Agency_Add_Content_Creation_as_a_Service_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 19 February 2020
Are you looking for a new, creative way to generate leads? Have you thought about offering a course, but don't know where to start? An online course is a great way to attract new clients and create some extra revenue. In today's episode, we cover:
Today I had the opportunity to talk to Chase Chappell, the owner of Chase Chappell Marketing. He began his career developing his own Facebook influencer page and quickly discovered he could do social media for other agencies. After going door-to-door to find leads, he leveraged the power of social media. After finding success Chase realized he could help more people by teaching his own processes in an online course. Find out how developing a course can attract more clients and help grow your agency. How an Online Course Can Help Your Agency GrowCreating an online course is a lot of work. So why spend your time developing a new course when you can put your time and focus on other projects? What will you really get out of it? For Chase, the benefits were bigger than he initially realized.
3 Ways to Keep Your Course from Becoming a DistractionNot every agency has what it takes to support a course. If that was the case everyone would create a course to attract new clients. When you choose to develop a course you want to make sure you have the resources to support it. The last thing you want to do is put all your focus on the course and neglect the agency.
How to Create a Unique Course Different from Everything ElseIf you're on Facebook, you know how saturated the digital course market is. It seems like everybody wants to teach you something about something. In many cases, these courses are simply marketing ploys or click-bait to get a prospect to sign-on with an agency. Online courses are a dime a dozen and most quickly fade into obscurity. So can you make sure your course stands out and continues to attract new clients?
An online course is a great way to attract new clients and increase authority. But it's not for everyone. Do your research, evaluate your resources, and make sure you're prepared before you take the jump. 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: How_Offering_a_Course_Can_Help_Generate_New_Agency_Business.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 17 February 2020
Are you often doing the same tasks over and over? Are you looking for a way to work smarter and be more efficient? Are you using automation to retain agency clients? Automation can eliminate some of the tedious tasks and help you focus on the things that really matter — your clients. In today's episode, we'll cover:
Today I talked to Joe Shelerud, the co-founder and CEO of Ad Advance. Joe's agency works primarily with medium to large size Amazon shops, helping them use PPC to grow their sales and build a long term profitable business. After starting his agency, Joe quickly realized just how much automation could save time and eliminate some of the grunt work. Find out what areas Joe's team automates and how doing so has changed their agency for the better. 3 Reasons Why You Need to Start Automating — NOWHave you automated the simple processes in your agency yet? If the answer is no, why not? Joe says automation has changed the way his agency does business and has led to greater client satisfaction. He says if there are tasks you are doing over and over again, every single day, you need to automate them. What can automation do for your agency?
3 Areas Where it Just Makes Sense to AutomateYou don't want to automate everything. Not only does it put you out of a job, but it takes out the human element. That personal touch is often what sets your agency apart. But there are many areas most agencies can automate right now.
How Your Agency Can Get the Most Out of AutomationWhen it comes down to it, you're not automating processes just to automate. Automation saves time. But this doesn't mean your team gets to go home early. This means you are able to spend more time on the areas that add value to your clients. Look at where you are wasting time and make a change. Then, use that time to really increase client satisfaction and focus on what sets your agency apart. Automation can be a big time saver. When you have more time to focus on your clients, you have a better chance of pleasing and retaining those clients. Think of it this way, is it easier to find new clients or just keep the old ones happy? Are You Looking for Outsourced Copywriting for Your Agency or Clients?Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebooks to video scripts and more. Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter. Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.
Direct download: How_Automation_Can_Help_Retain_Agency_Clients.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 12 February 2020
Trying to decide whether your agency really needs to declare a niche? Can a generalist approach equate to more clients? In the marketing agency space, it's all about standing out from the crowd. Whether you can find success as a generalist may depend more on your process than your expertise. In this episode, we'll cover:
Today I had the opportunity to talk to Ted Birkhahn, president and part-owner of Hot Paper Lantern. Hot Paper Lantern is an integrative marketing communication agency that focuses on analytics, redefining how clients are targeting their audiences, and improve experiences. With over 19 years in the agency, Ted was able to take an existing customer base and turn it into a successful generalist agency. Find out whether it's really possible to find success as an agency without choosing a niche. #1 Thing to Remember Whether You're a Generalist or a Niche AgencyIf you have been in the agency world for any period of time, you know there's one thing that holds true — nothing lasts forever. Ted says this is the number one thing he learned over the course of his career. As such, you always need to have a plan for when times get rough. What does this look like?
3 Ways to Stand Out as a GeneralistYou've decided to be a generalist — great. The good news is, this means you have a wider reach, you can relate to a larger range of customers. The bad news is, there's nothing to separate you from all the other "me too" agencies who don't have a specific niche. So how do you stand out without having a niche?
3 Reasons You're Better Off Choosing a NicheIt's important to find out what makes your agency stand out from the crowd. Some agencies are able to do this without choosing a niche. But for many agencies, defining a niche is how they stand out. So how do you know if you're better off choosing a niche?
It's hard to say you can't find success as a generalist because it has been done and it continues to be done. But it takes a certain level of experience and expertise. If you're going to be a generalist, it's important to understand the extra level of investment and risk it entails. By setting realistic expectations, you're more likely to make smart choices and 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.
Direct download: How_Important_is_it_to_Declare_a_Niche_for_your_Agency_.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 10 February 2020
Do you want to grow faster while also staying nimble like a small agency? Growing your agency means growing your team. One agency actually did it by dedicating half of its team to sales. Sometimes it just takes a simple change of focus or a deeper look at the effectiveness of your processes to find meaningful success. In today's episode we'll cover:
Today I talked to Michael Weinhouse, founder and co-CEO of Logical Position. Logical Position is a digital marketing agency based out of Portland, Oregon, who in just 10 years has grown to over 700 employees. Find out how a focus on sales led to tremendous agency growth. 3 Keys to Landing the Right Agency ProspectsIn the beginning, clients don't just come to you. Gaining clients and growing your agency takes a lot of hard work. For Michael, he found the number one way to scale his agency fast was sales. This focus on sales led to partnerships with Google and Microsoft which contributed to the agency's rapid growth. In the early years, this meant a lot of cold calling. For several years, the team was primarily composed of salespeople. Even after the agency began to see success, the number one focus was still sales, to the point that 50% of the employees were sales! But if you are going to narrow-in on sales, you have to do it right. For Logical Position, it was all about making sure each call provided value. So how do you do this?
Is It Time to Break Apart Your Agency Teams?A lot of agencies divide work between several teams within the agency. While this approach may work for some agencies, it's not the way Logical Position does things. There are a couple of reasons for this. Michael says he always found sticking to one sector is a quick path to burnout — not good when you're trying to grow your team. When you allow your team to work with people in different verticals they can use conversations from one area to find best practices that work with another. But while there are no teams, this certainly doesn't mean there is no structure. Logistical Position uses a tiered system to incentivize employees and keep things organized. Once you have mastered one skill set and met your goals, you have the opportunity to move further up in the agency. Michael says there is a natural level of competition among his sales team, which definitely helps convert leads. How to Build on Successful Sales and Continue to GrowYou may be thinking: "You can't run an agency simply on sales," and you're right. Michael says the tipping point came about three years ago when the sales team had been so successful the operations team had to expand to keep up with the growth. Presently, the sales force makes up just over a quarter of the agency team, instead of the 50% share they had previously held. As for acquisitions, Logical Position acquired its first agency at around the $20 or $30 million mark. They chose an agency they had previously worked with and whom they had built a lot of trust. They have since acquired yet a third agency. From here, Logical Position really began to grow. As a co-CEO, Michael has found his team was at the point where they could take the day-to-day stuff, allowing him to focus on employee and client retention. Scaling an agency can be a challenge. It's important to find a focus and figure out what works for your team. A successful sales process is a great way to increase clients and motivate your team to continue to grow. Are You Looking for Outsourced Copywriting for Your Agency or Clients?Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more. Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter. Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.
Direct download: Why_One_Digital_Agency_Started_With_50_of_the_Team_Dedicated_to_Sales.mp3
Category:general -- posted at: 12:58pm MDT |
Wed, 5 February 2020
Thinking about selling your agency -- someday? Is a merger or acquisition a good fit? Whether you are hoping to move on to a new adventure or stay on as an employee, it's always important to make sure your agency is in a position to maximize a merger or acquisition opportunity. In today's episode we'll cover:
Today I talked to Todd Taskey, the CEO of Potomac Business Capital. Todd's agency does a lot of merger and acquisition work, dealing with sellers to maximize their profits and find a good fit. He shares what agencies need to do to get buyers interested and how to get the best offers. Why It's Important to Tell Your Agency's StoryWhen buyers are looking to acquire or merge with your agency, they want to know where your agency is heading. This is a good way for buyers to determine your agency's value. But the biggest mistake most agency owners make is not thinking about where they are going. The best way to increase your agency's value is to tell a story. What does this mean?
#1 Way to Get Multiple Buyers for Your AgencyWe all hope when we go to sell our agency there will be multiple buyers fighting over us. But many times you put feelers out there and then suddenly one of them sends you a letter of interest asking you to stop shopping your agency around. So how do you avoid this and get the best selling price? The simple answer is HARD WORK. Todd says he puts together a list of about 100 prospects and then goes and talks to each one. He then finds the three most serious buyers and works from there. When you find the right agency, it's all about negotiating. When a buyer thinks they are getting a great value they are more tolerant when bumps inevitability come up down the road. If you work the buyer in the beginning, it provides leverage when it comes to negotiating things like working power and non-solicitation agreements. 2 Simple Ways to Know a Merger is the Right FitWhen you sell your agency, you want to know it's the right deal. Everyone's a Monday morning quarterback and will always find something they could have done better. So how do you prevent that? How can you feel comfortable with the choice you make? Todd says it comes down to a couple of things.
Selling your agency is a good way to make a change or take things to the next level. But you have to do it right. Take time to prepare your agency and don't settle until you find that right fit. 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: How_to_Get_the_Best_Deal_When_Selling_Your_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 3 February 2020
Are you looking for a way to grow your agency but don't know where to start? Does it feel like your current marketing approach is failing to bring in enough referrals to help your agency grow? Referral programs and agency events are a great way to bring in new clients and engage with the ones you already have. The good news is, you don't have to be a big agency to see big growth. In today's episode we'll cover:
Today I got to talk to Michael Mogill, a good friend and former client. Michael is the owner of Crisp Video, a digital agency who works exclusively with law firms to help them differentiate their firm and attract high-value clients. In just a few short years, Michael took a $500 investment and turned it into a $20 million agency. Discover how big risks, radical ideas, and hard work has paid off big for him. 3 Keys to Rapid Agency GrowthIt's not often someone is able to create a multi-million dollar agency out of basically nothing in just a few short years. If it were that easy, everyone would be doing it. Since founding Crisp Video in 2012, Michael has been able to double the agency's size and value every single year. So just how did he do it? Michael says there are three key things that led to his agency's rapid growth.
3 Keys to Create a Successful Referral ProgramMichael earned a lot of attention when he announced Crisp Video would be giving away a Tesla as part of their referral program. Sure he could have given away an Amazon gift card, but that doesn't really get people's attention. It all comes back to being prepared to make big bets. With such a big promotion, Michael learned a few things along the way.
Why Even Small Agencies Should Host EventsWhen it comes down to it, you just have to get started. When Michael hosted his first agency event, he didn't know what he would say or what he would do. He set a date and sold tickets. The rest came later. It doesn't matter if you have 500 clients or 50. If you can't get on someone else's stage build your own. Soon, you'll discover, confidence grows. The more risks you are willing to take and the more you invest in yourself, the bigger the payoff. Referral programs and agency events are a great way to meet new people and grow your agency. But if you want people to bet big on your agency, you have to be willing to bet on yourself. Are You Looking for Outsourced Copywriting for Your Agency or Clients?Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more. Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter. Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.
Direct download: How_an_8-Figure_Agency_Created_a_Successful_Referral_Program.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 29 January 2020
Are you struggling to make your agency stand out? It could be a branding issue. Knowing your brand and owning it can make a big difference when it comes to getting your prospects' attention. In a world saturated by digital marketing agencies, the last thing you want to be is another "me too" agency. So here's advice on the best ways to differentiate your agency from the competition. In today's episode we'll cover:
Today I sat down with Scott Markman, Founder and President of Monogram Group. Monogram Group is a branding agency, dealing almost exclusively with private equity clients. As a branding agency, Scott has spent the past 30 years finding his niche, developing a brand, and becoming an expert in his field. But recently, Scott's firm hired a digital agency to help with their own brand. In this episode, we'll talk about why you have to know your agency's brand and how defining a niche can get you there. 2 Reasons It's Important to Find Your Agency's NicheLately, it seems like anyone who knows anything about a computer can start an agency. Because there are so many agencies, it's tempting to offer everything to everyone. The logic is, the more I offer, the more clients have to choose from. But agencies who take this approach quickly find out being a generalist isn't really the best approach. Why? Because clients want someone who knows the nuances of their specific industry. Scott started his agency as a generalist -- part out of boredom, part out of a desire to learn something new. But while the work was challenging, he quickly learned private equity was where he needed to be. There are two main reasons why finding your niche is important:
How to Determine Your Agency's BrandMany agency owners think they know their brand, but really they have no idea. When we talk about branding, we're talking about the feeling clients get or associate with your agency. When you are developing your brand, there are a few questions you want to be able to answer:
Scott says 85% of what you say is going to be the same as everyone else. The key is to not stop there. The other 15% is your brand. Recognize what makes you valuable, carve out a space for yourself and own it. #1 Way to Differentiate Your Agency from the OthersBack to the question we started with at the beginning: "How do I stand out from the crowd?" The answer is brand, brand, brand. What is it that runs in your DNA? What are you passionate about? What do you know better than anyone else? The number one way to separate your agency from "me too" agencies is to know your brand and make it approachable to a variety of audiences. Remember, your niche is who you will market your services to, but it doesn't have to stop there. When you know who you are, clients will search you out. The key is to find the one thing you can offer better than anyone else can. Branding is so important for attracting clients and earning their respect. Your clients can't know who you are if you don't. Carve out your space, master your craft, and share it with the world. 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: How_to_Brand_Your_Agency_and_Differentiate_from_the_Competition.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 27 January 2020
Are you struggling to figure out what your agency really stands for? Do you find yourself developing a new process every time you start a new project? In the fast-paced agency world, knowing who you are and what strategies work for your agency are key to finding success as a team and as an agency. In this episode we'll cover:
Today I got to talk to J.P. Holecka. J.P. is the owner of Power Shifter, a digital agency whose goal is to make things simpler. His agency works with start-ups and big brands, including some notable companies like FitBit and Energizer. With a background in film production, J.P. quickly realized how important process and culture are to an agency's success. In today's episode, J.P. discusses how culture helped his agency survive the loss of its biggest client. Why Developing Processes Means Increased ProductivityDoes it feel like your team is constantly running around in circles? Does your environment feel like it is constantly filled with chaos? If so, it might be because you haven't developed a process. What does it look like to develop a process? When you have a process in place everything is repeatable. Rather than figuring out how you are going to approach a project from scratch every single time, you can simply follow the process, saving you and your team time, money, and stress. Developing a process will look different for everyone. For J.P., he brought in a couple of coaches to help his agency get organized. These coaches focused on the operational side of the house as well as the ad job and helped J.P. develop a system that worked. #1 Tip to Help Your Agency Survive the Tough TimesLet's face it — business isn't always going to be easy. There will be times where your agency is tested or suffers a loss. For J.P., this moment came when his agency lost its biggest client last year. But rather than destroying the company and putting them out of business, the loss actually made Power Shifter stronger than ever. The number one thing that helped J.P. and his team make it through this loss was culture. When you have an established culture and know what your company stands for, you'll be equipped to handle times of adversity. To develop a strong culture, it's important to be clear with your values. What do you stand for and what do you want to achieve? Then, surround yourself with people who have the same beliefs and want the same things. 3 Benefits of Transparency in Agency LeadershipSo many times, agency owners are afraid to be open and transparent with their team. Whether it's the fear of sharing too much or losing members of their team, owners have a tendency to hold things closer to the chest. But J.P. says he's seen the benefits of being transparent and plans to develop an open-book management style in the near future. Being transparent with your team can derive many benefits.
You'll find it difficult to find success as an agency if you and your employees are two separate entities. Transparency can empower individuals and help you come together as a team. At the end of the day, culture is more than ping pong tables and beer taps, as J.P. likes to say, it's about knowing who you are and having the tools and the faith to survive even the toughest times. If you develop your agency with process, culture, and transparency in mind, you'll be more likely to find success.
Direct download: Why_Transparency_and_Culture_Are_Important_to_Your_Agencys_Success.mp3
Category:general -- posted at: 3:00am MDT |
Fri, 24 January 2020
What happens when a digital agency outgrows a partner? Do you sell the agency and part ways? Can you negotiate an agency partner buyout? It happens - partners drift apart or sometimes people simply want out. Dealing with a partner break-up doesn't have to impact your agency's growth if you don't want it to. In fact, you can negotiate a fair buyout by facing it head-on or by being proactive. It's a tough conversation but definitely one to have earlier than later. In today's episode, we'll cover:
Today, I talked with Dan Altenbernd, Co-founder of H2M, which is his digital marketing agency in Fargo, Minnesota. Dan has over 18 years of experience in the industry, and he's been building brands in his hometown for years. Not only is Dan's agency booming, but he started it with one more partner than he has now. When his partner didn't have the same goals as him, they negotiated a buyout and he's on the show to share that wisdom. #1 Source of Digital Agency LeadsWe all know agency growth is both the biggest goal and the biggest barrier for most agencies. We all want to grow. And how do you grow? With a lead generation system that keeps your pipeline full. The lead war always seems to be between outbound and inbound. Should you be reaching out to them or should they be coming to you? And actually, I don't think there is one right answer -- in fact, I preached a 3-channel approach to lead generation. I've seen agencies win with outbound. And I've seen agencies win with inbound. Your agency needs both, as well as strategic partnerships, in order to stay successful. But, here's the thing — neither inbound nor outbound is the easiest source of leads. You know all of those relationships that you've been cultivating throughout your career? Those are an amazing source of leads. Former colleagues and co-workers are all low-hanging fruit. Many agency owners think they need 1,000 leads a day to grow big. You don't. You really only need a few. And your network can be those few leads that end up catapulting your agency into 7 figures. Dan says this is especially important for newer agencies with lean budgets. Rather than spending a ton on Facebook ads, get out there and leverage the connections you already have. Once you have your first few clients, you can start implementing other killer inbound strategies you've been thinking about. The Best Way to Approach a Bad PartnershipThere are plenty of agencies that have amazing partnerships that just work. But, let's be real. No one will always want exactly the same things as you at exactly the same time as you, right? Eventually, you or your partner will outgrow each other or the business. Maybe your partner doesn't have the same ambitions as you, has different views, or simply wants out. Then what? I always say, you either know the bad partner or you are the bad partner. But as Dan explained, it doesn't have to be an ugly break-up. You just need to have an honest conversation with your business partner. If you think you're headed in the wrong direction, let them know. Don't be scared to start the conversation. If a change needs to happen, rip off the band-aid, and get it done sooner than later for the sake of your business and your own well-being. 4 Steps to an Agency Partner Buyout
Direct download: How_to_Handle_an_Agency_Partner_Buyout_Without_Impacting_Growth.mp3
Category:general -- posted at: 2:26pm MDT |
Wed, 22 January 2020
Would you like to be your own agency boss but not hesitant to start a business from scratch? Tired of having a boss? Think you can do it better? Ready to run things yourself? Most times these are the reasons most agency entrepreneurs start their own agency. But that doesn't mean it has to be the way you do it. Another viable option is to acquire an established agency to give you a jumpstart. In today's episode we'll cover:
Today I had the opportunity to talk to John Kadlic, CEO and owner of Parallel Path. Parallel Path is a digital marketing agency focusing on the health, wellness, and lifestyle industries. John worked his way up in the agency world, eventually becoming president of a large digital marketing agency. After 22 years in marketing, John was ready for his own agency. But John didn't take the conventional approach and start one — he bought one! Discover why John took this approach, and what he learned along the way. How to Find the Right Agency for YouWhy buy an agency when you can start your own? John wanted to take advantage of the hard work someone had already put into their company. John bought Parallel Path on his 50th birthday. He says at this point in his life, he was willing to spend more money, in exchange for not having to invest the extra time. John didn't have to spend time finding clients or hiring staff, they all came with the acquisition. Buying an agency is a great option for people who don't have the time or desire to start an agency from scratch or who are looking to grow their existing agency. The downside is, it requires a larger investment. So how do you find the agency that's right for you? John says his process started with a little soul searching. He took some time to figure out what he liked about work, what he didn't, and what energized him and got him excited about his job. Then, he made an outline of all the things he was looking for in an agency. Having a clear vision of what he was looking for not only helped John narrow his focus but also made it easier for his team to suggest potential agencies. 2 Tips to Make Sure You Don't Pay Too Much for Your AgencyOkay. So you've found your dream agency. How do you make sure you don't pay too much? Buying an agency is like buying a house. Owners take pride in their "baby" and often ask for more than what it's worth. Buyers, on the other hand, are looking for a deal ~ the acquirer's idea of fair valuation is often much lower than the sellers. How do both parties find common ground?
3 Keys to Finding Success at Your Newly Acquired AgencyYou've bought an agency, now it's time to make it your own. But wait! Now is not the time to go in and change things up. John says new owners often want to jump in and get their hands dirty. But this is almost always the worst thing you can do. To find success, you need to appreciate what you are getting into.
Whether you're buying your first agency or acquiring another agency to grow an existing one, it's all about the process. With a careful plan, a solid vision, and respect for existing systems, you'll be on the path to 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.
Direct download: Should_You_Acquire_an_Established_Agency_or_Start_Your_Own_.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 20 January 2020
Do you feel like a "me too" agency, but you're not sure how to break the chains? Do you want to create a differentiator you can use to grow faster? The agency space is changing. With Facebook pushing business owners to create their own campaigns and hundreds of new agencies popping up monthly, it can be tough to grow. You probably feel like your trapped in a small room and in a rut. Don't worry! There's a way out. In this episode, we'll cover:
Today, I talked with Mike McCloud, President & CEO of MMA Creative and founder of the World Food Championships. Mike is a tried-and-true entrepreneur with agency DNA. Not only has Mike been in the agency space since 1991 (that's 29 years now!), but he leveraged his agency to help him create the hyper-successful World Food Championships event. That event now generates 95% of MMA Creative's revenue! So, how did an agency owner create a renowned food league with its own TV show and top-tier sponsors? Like this! 3 Traits Every Agency Owner NeedsMike says these are the three traits every successful agency must have:
Why Your Agency Needs to Create a DifferentiatorThere are two big threats to agencies.
Creating a differentiator eliminates those threats. What can you do that no one else can do? If you don't have an answer, find one. Mike created an event. But you don't have to. You can create an experience, a product, a service, or anything else your competitors can't. I've interviewed agency owners who use strategic gifting, promote their freak factor, and even build tech, just to name a few. They all share one thing in common. They do something unique in order to stand out. 4 Simple Steps to Creating and Hosting Agency EventsUse your agency to catapult growth. While your agency is generating revenue, use some of it to experiment and create an amazing differentiator. Here's how Mike was able to create a massive food event using his agency as a springboard.
Direct download: Could_Hosting_Agency_Events_Be_the_Key_to_Growth_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 15 January 2020
Are you worried your agency is too small to compete with the big dogs? Are you exhausted trying to provide everything for everyone? The marketing world has changed over the past few decades, but a lot of the concerns and approaches have remained the same. As an agency, knowing your strengths and marketing to your niche can be a huge advantage. The sooner you realize this, the better. In today's episode, we'll cover:
Today I got to talk with Grant Johnson, founder, and owner of Responsory. Responsory is a direct response digital marketing agency focused on measurable results. Grant started his agency in 1999 after leaving his job as VP of a marketing agency. Grant didn't like the direction the agency was heading, so he started his own. Grant felt nobody was really doing measurable marketing the right way, so he took on the challenge on his own. 20 years later, Grant has grown Responsory into a multi-million dollar agency. Let's dive in. Why Agencies Need to Combine Branding with Direct MarketingMany agencies put all their effort into building their brand but fail to focus on direct marketing. Or, they do the opposite, and put their efforts on direct marketing, with no real idea about their brand identity. But the truth is, you'll get the best results when you combine the two. That's what Grant did when he started his agency in 1999. He says when he started his agency, you had brand marketing on the left and direct marketing on the right, and the two weren't converging. Today, it's all about ROI — what am I getting out of what I am putting in? Grant believes when you combine branding with direct marketing, you have the ability to enhance and grow your brand in a measurable way. Direct marketing helps your agency grow faster, while branding helps you establish trust with your audience. How Segmentation Can Take Your Agency to the Next LevelThe bulk of the clients Grant works with don't do segmentation. This has been a problem for as long as advertising has been in existence. Some agencies prefer to reach as many people as possible, instead of focusing on specific sectors. It's important to realize your customers are going to have a variety of wants, needs, and ideals, even within the same niche. You can't just send out a blanket marketing campaign and call it good. You have to understand the individual component. Today, SEO and paid digital make marketing to specific sectors and analyzing the results easier than ever. You have to remember to look at your audience as a whole vs. individuals. #1 Reason To Dominate Your Agency's NicheWhen you're starting an agency, the temptation is to provide everything to everyone. This is the quickest way to fail. For the bulk of agency prospects, they're not looking for an agency who can do a lot of things okay, they want an agency who can do what they need really well. Know your niche and own it! Grant says he's always upfront with his clients. When they come to him, he tells them what he is really good at and what he's not. In the same regard, if you're a small agency, own it. There's been a shift towards smaller agencies who know what they are doing vs large agencies who do it all. If you have a team of five, don't hide the fact that you're small, announce it to the world! It's all about quality vs. quantity. Most importantly, you have to believe in your brand and believe you're the best. Like Grant says, if you don't think you have a niche, or a difference, or are the best at what you do, then why do it? What's that saying — the more things change, the more they stay the same? A lot has changed in direct marketing and branding over the years, but many of the same basic principles remain the same. When you combine proven philosophies that work with today's technology, you provide the catalyst to help your agency grow. 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: How_Niching_Down_Equals_Big_Digital_Agency_Growth.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 13 January 2020
Struggling to attract and keep Millennials at your agency? Do you want to learn what motivates Millennials in the workplace and how you can become an inspiring leader? Millennials are slowly taking over the workforce as the largest group, which means learning how to attract them and keep them around is critical for the success of your agency. In today's episode, we'll cover:
Today, I talked with Chris Tuff, Executive Vice President and Partner at 22squared and best-selling author of The Millennial Whisperer. Chris has achieved great success as a digital marketer and is revered for his thought leadership and boldly blazing new paths in the digital space, including working with companies like Facebook, Twitter, and Google. Chris shares some golden nuggets of information about motivating and leading Millennials to help you build an amazing agency team. New Trends in Incentivizing Agency EmployeesToday's workforce has different values and traditional incentives might not be the key to keeping good employees at your agency. Instead, consider adapting to the go-getters. Chris believes in the importance of giving your employees a stake in the company. You can do this in a few different ways:
4 Things Millennials Want from Their LeadersYou've probably heard comments about Millennials like "entitled, needy, dumb, impatient, naive." Chris argues these characterizations simply aren't true. In fact, his favorite quote is "Millennials aren't the problem, they just expose all the problems." Many agencies are doing it wrong because they don't understand what Millennials want from their leaders. According to Chris, you need to provide the following things as you lead your team, so you can retain quality employees:
2 Ways to Keep Agency Employees EngagedAttracting and keeping Millennials isn't only about incentivizing and understanding their leadership needs. You also have to adapt the way you promote them and really learn how to bring out leadership traits. Chris says this is really about making a connection with your team and you can do that in two ways:
Direct download: How_to_Attract_and_Keep_Millennial_Agency_Employees.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 8 January 2020
Are you still struggling to score the first few agency clients? Or maybe you've scored them, but now you feel like you're stuck handling them and not growing. Making it past those first few agency road bumps is difficult. And finding your first clients and figuring out how to use them to springboard your growth is the biggest initial road bump. But finding those clients doesn't have to be a nightmare. You just have to get a little creative. He's on the show to talk about a cool strategy for landing the first five clients and how his agency took off from there. In today's episode, we'll cover:
Today, I talked with Benjamin Arabov, Founder and CEO of Pure Digital — an agency specializing in PPC, ad design, and influencers. Benjamin is passionate, hardworking, and above all, dedicated. When his brother told him about an agency internship while he was in college, he pounced on the opportunity. From there, he moved into full-time while taking night classes. Why Sometimes Even the Best Agency Team Members QuitKeeping your agency employees can be the hardest part of your initial growth. Replacing team members isn't cheap. In the past, I've talked about how you can dominate employee retention using a variety of methods like profit-sharing and killer training processes. But here's the thing. Even if you give your team members big chunks of cash, it doesn't mean that they're all going to stay. There's no way to prevent employees from leaving. Some people just want out. And I'm not talking about those poor performers you should be firing already. I'm talking about some of your best workers. They may want out. In Benjamin's case, he was crushing it at his first agency job, but he wanted more. Born from a long line of entrepreneurs he decided to chase his own dream and create his startup agency. You should be prepared to lose anyone. And you should have a backup plan in case your most valuable employees up-and-leave. How to Score The First Few Agency ClientsThe hardest clients you'll ever land are your first ones. You need incoming cash to fuel agency growth. You may have clients in mind. But you don't have past client results to show off and win them over. Why should they even look your way? Benjamin says his agency's early growth was largely due to referrals and a super successful email campaign. If you want to grow early, you have to get scrappy. You need to flex some of those creative muscles. Back in 2015, Benjamin sent out an email campaign offering a performance review (audit), that scored him 5 BIG clients. Let's be honest — that may not work in 2019. Audits have been done to death. But you can identify your own Foot in the Door offer and create a winning email campaign surrounding it. #1 Thing to Do After You Secure Your First Agency ClientsWhen you finally figure out that magic formula to get a few initial clients (call in some favors if you have to!), you need to do something ASAP. You need to hire some people. You don't want to be the person making all the creatives for this account. Why? Because you'll get stuck and unable to scale your agency to the next level. When you spend all your time on those first few clients you put yourself in a prison and you're chained to client work. But when you hire creatives or project managers, you are free to work on business development. You want to scale. We all have different agency goals. You probably want more than just those first few clients. And you need people to make that happen. What role should you hire first? The role you're worst at! Eventually, you want to move away from creatives unless you have an agency partner who can handle the business side. 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: How_to_Get_Your_First_Few_Digital_Agency_Clients.mp3
Category:general -- posted at: 3:00am MDT |
Mon, 6 January 2020
Are you thinking of starting an agency, but are not sure where to start? Do you have a business model but are struggling to find your core values? In today's market, starting a digital agency can be an exciting and prosperous opportunity. Knowing your brand's message and how to share it with others is the key to standing out and not be another "me too" agency. In today's episode, we'll cover:
Today, I got the opportunity to sit down with Jonathan Peischl, co-owner of SPLICE Agency. Jonathan started his career as a medical writer, but quickly realized he was destined for the digital ad agency world. After a couple of moves (and a major move across the United States), Jonathan and his business partners realized the companies they were working for were missing a few key components necessary for the industry to survive. Together, the four men created a business plan that has transformed SPLICE from a four-man operation to a company of over 30 employees in just three years. Find out Jonathan's keys to success here. How to Find and Retain Agency EmployeesWhen you are creating a business, your employees are going to be one of the key components of your businesses' success. It doesn't matter how great you are at everything else, if your employees are constantly jumping ship for the next bright and shiny opportunity, your agency is going to sink, fast. So how do you make your employees want to work with you? It begins with culture. Promote a culture you want to live by. Jonathan says he wants his employees to have time to pursue their passions. Whether this means letting your employees work from home or leave early to pick up their kids, show your employees that you value their creative input, as well as their lives outside of the business. Really live by this culture. Don't just put it on a whiteboard and be done with it. Creating culture employees want to work in requires care and feeding every day. It begins with great leadership promoting your company's values. #1 Key to Creating an Agency Business PlanThe thing about digital agencies is many begin without a solid business plan in place. They start the business and then five years later create a business plan. If you are going into a startup trying to create a business plan from scratch, you want a plan that sets you up for success. The number one way to do this is to develop a plan that works well for both your clients and your team. Once you have your philosophy, you surround it with a set of core values for which you want your company to stand by. When you balance your vision of what you what for your business with what you provide your clients, you will always be able to find your true north. How to Find Your Agency's True NorthYour true north is where you want your business to grow — where your vision should be focused every day. But how do you find your true north? How do you know what direction is the right direction? It all begins with soul searching.
Your true north and guiding values will be a key to your success as an agency. If you can't provide a product or service you are proud of and work for a company you enjoy working for, you're never going to find true success. When you begin with a solid vision and business plan, the opportunity to grow bigger and better will always exist.
Direct download: How_to_Create_an_Agency_Business_Plan_That_Works.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 18 December 2019
Do you want to get free exposure from podcasts, influencer videos, and TV stations? Want to generate leads at no cost? Are you ready to start building your personal brand? Growing a digital agency is all about attention. You want to get in as many people's faces as possible. And you want them to think of you as an authority figure while they're watching. To do that, you need to step up your PR game.
Today, I talked with Christina Nicholson, founder of Media Maven — a media relations and PR agency. Christina worked as a reporter and TV anchor for over 10 years before she decided to "transition to the other side" (a.k.a, she jumped ship and created her own PR agency.) Today, Christina has a team of 7 people, and she pumps out an incredible amount of content ranging from podcasts to blog posts and YouTube videos. She's one of those agency owners than transcends their digital agency. And she didn't get there by accident. How to Create a Killer PR PitchWhether you want to get on the news, on an influencer's YouTube channel, or on a podcast, you need a public relations pitch. Drop those old-school press releases in the trash can and draw up 6 or 7 sentences answering the following questions:
Try to make it topical. You may own a trash pickup service, but if you have some killer advice that is relevant to digital agency owners, you better believe I'll have you on my podcast. It's all about positioning. How can you take your experience, product, or service and apply them to a specific situation? Look, if that trash pickup service owner tells me he understands how to sell his services to people, I'm not going to have him on the podcast. It just doesn't resonate with my audience (that's you!). But if he tells me he has tips on how to win clients with amazing on-the-spot pitches, regardless of the target audience, then he's in! It may be the same information, but positioning, phrasing, and application of that information are totally different. #1 Branding Mistake Your Digital Agency is MakingMost agency owners spend a ton of time branding. But are you branding... YOU? Personal branding is massive in today's agency ecosystem. People like Gary Vee, Neil Patel, and Seth Godin have become more than their agency. They've become full-blown brands. And that's what your clients expect. Christina says you have to practice what you preach. You have to have the authority, social proof, and credibility to get clients to trust you and your agency. People want to work with people, not nameless agencies. How do you self brand? Treat yourself as a client. Take time out of your busy schedule to brand yourself. Start a podcast, pump out some videos, or start making incredible blog posts. Having a personal brand breeds trust with clients and your team. Leverage your talents and make an identity for yourself. What happens when you Google your name? Does your bland LinkedIn profile popup? If so, you've got some work to do! Why You Need To Be the Face of Your AgencyOnce you start mastering personal branding, people are going to turn to you first. When prospects look at your agency, they're going to have you in mind. So what happens when every client starts asking to work with you directly? It's just not possible! You need to be the face of your agency. But you should never be the voice. Let clients know you have an incredible team to help them. And, your team is their touchpoint. Also, let them know you take a personal interest in every account. You get the emails forwarded to you, and you're working on the backend to make stuff happen. But you simply can't be there to field their questions or touch base with them. Set those expectations early. Honestly, your clients will be ok with it. The best example of this is Gary Vaynerchuk and VaynerMedia. Gary Vee isn't going to personally oversee your account. He is the face of the agency and his clients know they aren't going to work directly with him. Your clients secretly know that too. Just make sure you set those expectations early. 3 Ways to Up Your Content GameChristina says you need tons of content in order to build your personal brand. But putting out tons of content is time-consuming, expensive, and difficult, right? So how do you do it?
You can stretch your content creation efforts by creating multiple pieces of content at once. Do more with less! Would You Like More Leads for Your Agency?If you want to get more leads with an 80% open rate and 25% click-through rate, you need to check out ManyChat. Engage prospects and build relationships with simple personalized experiences using the #1 bot platform for Facebook Messenger. I've been using ManyChat for 3 years for connecting with prospects and converting leads. ManyChat bots are ideal for marketing, e-commerce, and support; making it easy to have automated conversations with prospects and customers. To connect with the 1.3 billion daily Facebook Messenger users, head to ManyChat.com and enter code: SwenkPro for a free one-month trial.
Direct download: How_to_Step-Up_Your_Agencys_PR_Game_and_Generate_More_Leads.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 11 December 2019
Is it just me or can agency life really suck sometimes? Ever wish you could just hit the reset button? Or get a do-over? It’s like we’re always working for our clients, improving their business, and adopting their purpose instead of having our own. In turn, we struggle to grow our agency business because can’t see the forest for the trees. It happens to all of us from time to time. But a turnaround might be easier than you think. In this episode, we’ll cover:
This is a banner episode for me, guys. It’s my first three-peat guest, Jeff Hilimire. That’s right, he’s been on the show twice before talking about agency growth strategies and mistakes to avoid. He founded and sold his first agency and is now in his sixth year as founder of his agency, Dragon Army. He has also founded a web development non-profit called 48 in 48 and sits on the board for a variety of other 501(c)(3)’s. Jeff has been in the industry for over 20 years and he’s seen it all. In fact, that’s exactly why he literally wrote the book on how entrepreneurs can change their mindset in order to get out of their own way and turnaround their business. How Can Your Digital Agency Inspire Happiness?Jeff founded Dragon Army in 2013 as a gaming startup, after selling his first agency. After one year of chasing success in the game realm, Jeff says he realized his agency did not have a purpose. Jeff’s revelation: agencies are always working for other people and adapting their clients’ purposes. At that moment, he decided to develop a purpose and pivot his agency to carry it out. Today, Dragon Army focuses on web, mobile, and brand marketing. Their purpose is to inspire happiness with positive relationships. I know what you’re thinking… how in the heck?! But it’s actually really basic. Jeff says they execute this in two ways: creating impactful work and doing good. And what’s even more basic -- they start internally with inspiring happiness among the team. Think about it this way. When you create a desireable agency culture and actually live your core values, you end up inspiring your team. That inspiration flows over into their work -- and everyone wins. This purpose-driven business model has won Dragon Army clients like Coca-Cola, Lyft, and Chick-Fil-A, to name a few. Jeff’s advice to all agency owners is to consider how you can inspire happiness in a way that has a profound effect on your team. 5 Things Your Agency Can Do To Hit the Reset ButtonIn such a competitive space, it’s natural for agency owners to be constantly focused on the bottom line. But, Jeff says that is exactly what’s causing agencies to bottom-out. Reflecting on his 20+ years of experience as an entrepreneur and agency leader, Jeff considered 5 lessons or core principles that can help other businesses change their mindset and create transformative growth. In The Five-Day Turnaround, Jeff authored a narrative about a business who adopts these 5 principles to turn around their business amid five client meetings:
Would You Like More Leads for Your Agency?If you want to get more leads with an 80% open rate and 25% click-through rate, you need to check out ManyChat. Engage prospects and build relationships with simple personalized experiences using the #1 bot platform for Facebook Messenger. I've been using ManyChat for 3 years for connecting with prospects and converting leads. ManyChat bots are ideal for marketing, e-commerce, and support; making it easy to have automated conversations with prospects and customers. To connect with the 1.3 billion daily Facebook Messenger users, head to ManyChat.com and enter code: SwenkPro for a free one-month trial.
Direct download: 5_Characteristics_of_the_Most_Successful_Agency_Owners.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 4 December 2019
Not sure when you should add to your agency team? Wonder who the first hire should be, and when? Growing an agency can be difficult and lonely. But when you have the right kind of support, the right people, and identify the right clients you'll grow leaps and bounds. In today’s episode, we’ll cover:
On this week’s podcast, we are hearing from Drew Schulthess, owner of Catchfire Creative. Drew’s agency has been working in the consumer packaged goods and lifestyle brands space since 2011. He’s on the show today talking about the steps he took to get over to the million-mark and beyond in revenue. How to Know It’s Time to Add to Your Agency TeamDrew’s first hire was a mere four months into starting his agency. That’s super quick, right? He said that at the time, a resume came across his desk that was just good to pass up. The person was multi-faceted and seemed to have experience in many different areas that Drew wanted to grow. So even though it was a stretch on the budget, he took the leap to bring the person on board… and eight years later, he’s still with the agency! Of course, Drew says his first hire has been amazing and able to adapt and evolve as the agency changes and grows. Here’s the thing about hiring. When you’re just starting out, you might feel like you need to “sell” the agency to the candidate and convince them to want to work with you. (I remember thinking, “why would someone want to do this with me?”) But remember -- it’s supposed to be the other way around, of course! Make the candidate sell themselves to you. And hire for culture fit first, over skillset. #1 Thing to Grow Your Agency Beyond 6-FiguresHere’s why I really dig Drew… he listens to me :) Drew credits a nugget of advice he picked up in one of my videos about setting prospect qualification criteria. He says taking the time to do that made the difference for his agency and helped them sky-rocket to the million mark and beyond. Once you have a framework for who your ideal clients are, you can stop saying yes to everything. (Like you can quit taking on the clients with unreasonable deadlines and outrageous requests, like this one.) It might seem counterintuitive to turn down work, but when you start saying no to the wrong work, it frees you up to only saying yes to the right stuff. Drew says that creating the criteria and actually putting it on paper was an important exercise for his agency. It gave him the clarity he had been missing and was the turning point in the agency’s growth. Related: https://jasonswenk.com/nbat/ Would You Like More Leads for Your Agency?If you want to get more leads with an 80% open rate and 25% click-through rate, you need to check out ManyChat. Engage prospects and build relationships with simple personalized experiences using the #1 bot platform for Facebook Messenger. I've been using ManyChat for 3 years for connecting with prospects and converting leads. ManyChat bots are ideal for marketing, e-commerce, and support; making it easy to have automated conversations with prospects and customers. To connect with the 1.3 billion daily Facebook Messenger users, head to ManyChat.com and enter code: SwenkPro for a free one-month trial.
Direct download: How_to_Quickly_Grow_Your_Agency_Beyond_6-Figures.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 27 November 2019
Is your agency struggling to convert leads? Are you looking for a new service that can deliver more leads to your clients? It's all about delivering personalized attention. And, everyone's attention is currently on Facebook Messenger. Your agency and your clients can convert more leads when you connect and engage in the right place at the right time. With billions of users and plenty of engagement, Facebook Messenger is one of the best ways to get in front of your prospects. In today's episode, we'll cover:
Today, I talked with Mike Yan, Co-founder of ManyChat.com — a chat marketing automation company. Mike's journey to Manychat was simple. He identified a gap in the market, saw an opportunity, and pounced on it. Facebook Messenger is one of the highest converting marketing tools on the planet right now. And being able to automate workflows in Messenger is a no-brainer. Here's how Mike's tool is helping agencies create some seriously cool campaigns. Why Your Digital Agency Should Be Using Facebook MessengerWant some kick-you-in-the-pants statistic to get you going? Facebook Messenger's open rates are around 80%. CTRs climb as high as 60%. And it has billions of users. If your agency hasn't jumped on the Messenger bandwagon yet, you should. You're sitting on a pile of gold. Just look down. And being an early adopter of a tool like Manychat in order to automate your Messenger conversations is going to help you dominate down the road. Because here's the thing — your agency needs automation to win clients. You can have a team of salespeople that could sell ice in Alaska and an ops team with a bottle of growth serum. But if you can't actually reach your clients — you're going to run into a brick wall. Automation is the secret to reaching your ideal clients at scale. How to Use Bots to Vet Agency ClientsI'm a huge fan of chatbots. I use a slick Don Draper bot to vet agency owners. And, I've talked a ton about the value of chatbots across digital channels. But when it comes to Messenger, you NEED to have a bot. After you've drawn up an incredible buyer's journey and target audience, you need to figure out which leads are high-value and which aren't. The key to effectively using a chatbot is to limit it to STARTING a conversation. It's not intended to BUILD a relationship. Use a bot to filter or categorize prospects but you need a human to continue the relationship... and that is what will set you apart from other automated agencies With chatbots, you can run prospects through the gambit without having to lift a finger. Your chatbot can determine if they're just tire kickers or serious prospects. If they're in the former category, you can add them to your list and hit them with your barrage of top-funnel strategies without wasting real resources. But if they're in the latter category, you can instantly connect them to a real person and leverage your salespeople. #1 Way to Convert with Facebook MessengerWhat's the #1 problem with bots? People know they're bots! Stop thinking about chatbots as salespeople and start thinking about them as a digital concierge. Once prospects reveal their intentions, you can send the high-intent ones personalized video or audio messages. This works doubly well if it comes from you instead of your team. This way your prospect goes from talking to a chatbot to getting a one-of-a-kind messaging from the person in charge. That switch from automation to personalization can help you win big by distinguishing your agency from the rest who are bot-ifying everything! In a world that is fully automated, set your agency apart with custom and personal contact.
Direct download: How_Digital_Agencies__Their_Clients_Can_Convert_More_Leads.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 20 November 2019
Want a peek into Gary Vaynerchuk's and VaynerX's agency growth strategy? What can you learn about agency structure and growth from VaynerMedia? What does it take to become a "visionary" like Gary Vee? Great questions! And the President of The Sasha Group (a VaynerX agency) is here to share all this and more. Check out how you can apply some very Gary principles to your digital agency. In today's episode, we'll cover:
Today, I talked with James Orsini, the President of The Sasha Group — an agency under the VaynerX banner that services $1 million and $100 million companies. James was also the former COO of VaynerMedia — and he's responsible for helping align and execute on Gary Vaynerchuck's visions. So, how did James go from COO of VaynerMedia to President of The Sasha Group? And how does The Sasha Group help VaynerMedia funnel smaller clients into their agency? Let's find out! What Does an Agency COO Do?James was the COO of VaynerMedia before he took on the President position at The Sasha Group. Why is it important to have a COO and what role do they play within the agency? The Agency COO helps facilitate responsibilities and set strategies. James explains it like this: Gary sets the vision. James sets the strategy. And the senior leadership executes that vision using those strategies to create tangible results. Every agency does the Tango with those three primary pillars (i.e., vision, strategy, and execution.) But it can be tough to do all of it alone. Typically, the visionary type isn't the best strategy person. And that strategy person may or may not be good at execution. You don't want one person trying to do all three things. And that's a major problem for some agency owners. We love to do everything. Not only do you not have to set strategies and execute those strategies, you probably shouldn't. Hire for your weaknesses, and hire an A-team that can help facilitate your visions. 3 Things That Make a Good Agency VisionaryWe all know Gary Vee is a visionary. He's in the all-star category with Seth Godin, Rand Fishkin, Neil Patel, and all of the other marketers who are the brand of their agency. Gary has an insanely popular YouTube channel, tons of clout in the industry, and a massive agency to back it up. But what makes someone a good visionary? Is it an inherent trait? Or something you can learn? Is it when their image transcends their agency? Is it their ability to lead, inspire, and innovate broadly? Or maybe visionaries are freak occurrences that just happen. Maybe it's just in their DNA. Maybe we're born visionaries... I believe anyone can be a visionary. You just have to focus on three things:
4 Ways to Create a Successful Offshoot AgencyWhen your agency starts to grow, you have to start saying no. But, every time you say it, a little piece of you dies inside. After all, someone is sitting cash on the table in front of you, but you have to tell them no because you'retrying to stay focused on the right projects and clients to grow your agency. So, why not make an offshoot agency? Whether is SaaS or a complementary service, your smaller agency can handle some of the smaller clients, and you get to keep the revenue. It's a win-win... right? Maybe. But here's the problem — offshoot agencies have a bad habit of failing. But The Sasha Group is far from failing. And, with their mission statement of "we'll help you outgrow us into VaynerMedia," they're setting the stage for Vayner to funnel small businesses to them. So what makes them different?
A Golden Nugget On Agency GrowthWhat does the President of The Sasha Group say is the most important piece of advice for new agency owners? Great marketing can't sell a shit product. We've talked about saying no to clients due to their aggressive requirements, low budgets, or overbearing needs before. But what about when their product just... sucks? Here's the thing — if you don't believe in their product, how in the world are you going to effectively market it? An agency's success is measured by specific KPI's. You can create the best marketing ever, but if the product sucks, no one is going to buy it and your work will be measured accordingly. And, at the end of the day, that's going to reflect on your agency. Would You Like More Leads for Your Agency?If you want to get more leads with an 80% open rate and 25% click-through rate, you need to check out ManyChat. Engage prospects and build relationships with simple personalized experiences using the #1 bot platform for Facebook Messenger. I've been using ManyChat for 3 years for connecting with prospects and converting leads. ManyChat bots are ideal for marketing, e-commerce, and support; making it easy to have automated conversations with prospects and customers. To connect with the 1.3 billion daily Facebook Messenger users, head to ManyChat.com and enter code: SwenkPro for a free one-month trial.
Direct download: What_Is_VaynerXs_Secret_Agency_Growth_Formula_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 13 November 2019
How much time should you spend on client work vs. actually growing your agency? Figuring out how to grow early isn't easy. You're not sure where to start and what to focus on. Chances are, you're spending too much time on client work and way too much time trying to land the next big contract. But is it worth it? In today's episode, we'll cover:
Today, I talked with Jordan Scheltgen, co-founder of Cave Social — a social media agency based out of Canada. Jordan has been hustling for brands before he was self-aware of it. His pre-agency blog, CaveMag, had a story about having season tickets to Florida Panthers games. It blew up and went viral, with tons of social shares and exposure. And he quickly realized he could do this... for money! Since then, his agency has rocketed to three locations already! So how did he grow so fast, and what did he focus on first? #1 Way to Grow Your Agency FastYou have to niche! Seriously! If I sound repetitive, it's because it's super important. Niching separates you from the pack and keeps the lights on. But Jordan's agency didn't just niche to find more clients. They niched to create repeatable processes, which is another benefit of niching down. Let's say your agency niches into plumbing. Are plumbers in LA really that different from plumbers in Nebraska? No - not at all. So, this gives you the ability to create a process you can use again and again for clients, in order to grow rapidly and become an authority. When you niche, you become an authority in a specific market. You can speak their language and get really familiar with their common challenges and pain points. When prospects realize you "get" them, it makes them want to work you with. But what if you can't figure out what your niche should be? 3 Ways to Determine Your Agency's NicheIf you want to find the perfect niche for your agency, you need to answer these three questions.
If you can find a niche that answers all three questions, you're golden. But even if you can only answer one or two questions, that's fine! You can become passionate. You can gain knowledge. And you can always find a problem to solve. But having at least one of those questions answered can help your agency focus on a niche (either vertical or horizontal -- or both) that will help you grow faster. Why You Might Need to Say No to Big ProjectsTurning down a massive deal is really difficult. So most of end up saying yes, and then live to regret it. But don't be fooled by the numbers — figure out if it's actually worth the money. For example, you may get offered a one-off project worth $50k. But if your long-term clients are paying you $10k per month, the big one-off client may not be worth the time. It's all about opportunity cost. Remember, when you say yes to one thing, it means saying no to something else. Make smart choices about the value of your time, and remember bigger projects don't always mean better projects. And it's about more than just basic math. If the client is going to cause you headaches or disrupt your agency culture, learn to say no! There are more reasons to turn a client down than there are to accept one. Should You Spend Time on Neutral Tasks?Are you wondering how much time to focus on systems and how much time to focus on clients? Try this trick: create a list. Grab a piece of paper and make three columns. In column one, list all of the value positive tasks you have. In column two, list all of the value negative tasks you have. And in column three, list all of the neutral tasks you have (those tasks that aren't really positive or negative.) Then, take everything in the latter two columns, and delegate or automate it. As owner, you should only be focused on positive value tasks. Most of the time, you'll find there's not much client work on the list. The bigger you grow, the faster you may need to start moving towards business-side tasks. 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: Focus_on_Scaling_or_Clients_in_Order_to_Grow_Your_Agency_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 6 November 2019
Wondering if an agency merger is right for you? Curious how do those new partnerships work? And what do you do if they don't? Taking the leap with another agency can be a strategic move. Maybe you want to grow faster or combine skillsets. Whatever the reason is, here's everything you need to know about agency mergers. In today's episode, we'll cover:
Today, I talked with Adam Williams, CEO of Magneti — a branding and digital agency out of Colorado. Over the years, Adam has founded a variety of startups ranging from publishing to construction companies. When Adam decided to take the leap into the agency space, he was well-prepared for the business side, but he needed scale and some extra creatives on his side. He's here to share the story of why he decided to merge with another small agency to tackle some bigger clients. Should Your Agency Leverage the Gig Economy?The rise of the gig economy is massive for agencies. Are you worried your agency doesn't have the creative scale to capture big clients? You can leverage the gig economy to deliver those creatives. Are you worried onboarding costs are going to sink your agency? The gig economy can help you deliver at a fraction of the price. The secret is creating processes for external contractors to follow. Once you have the processes down, you can scale-at-will. Want to deliver a massive project for a new client? No problem! You can scale up with freelancers quickly and easily. Hiring freelancers is a no-brainer for most agencies. Just make sure you're hiring the right one! How to Know if an Agency Merger is Right for YouThere are a million reasons to merge your agency with another. You may be experiencing a growth spike that's forcing your business into new roles you need help developing. You could have a big client you need a little help with. You may want to grow super fast. Or you may even want to fulfill some agency responsibilities you're, well, not good at (like taxes, billing, or even HR.) The only way to know if a merger is right for you is to ask yourself some questions, like:
When you start answering those hard-hitting questions, the merger answer will smack you in the face. #1 Way to Make Agency Partnership WorkIf you do decide to merge, it could mean bringing on a few new partners. And this can be a serious pain if you're not ready. How do you make it work? And how do you prevent bad partnerships from tearing your agency apart? Here's the secret — it's all about empathy. You have to care about the person on the other side of the table. When you're making agency decisions, think, "how would this impact my partner's family?" Make it personal. Because let's be honest. Sometimes, we get angry at our business partners. It's natural. But you always have to dig deep and remember who they are as a person and why you ventured into business together, to begin with. You can get mad at each other -- but you have to respect one another enough to be empathetic. But, what do you do if it just really isn't going to work? How to Cope With Agency Partner ProblemsIs your partnership just not going to work out? It's ok! You don't have to explain. But you do have to break up with them. At this point, the only question you have to ask is, "who's buying out whom?" If you want to remain in the driver's seat, you have to execute a successful buyout. Here's the thing. If you were empathetic during your entire partnership, this part is probably going to be easier than you think. Make sure everyone walks away happy, don't let it impact your day-to-day work, and smile when you're done. How One Small Change Can Impact Agency CultureSometimes, having agency rules can disorient workers. Your team needs guidance and structure, but not a list of rules to follow. If you have a giant paper filled with rules hanging in your break area, it may be time to rethink your strategy. Your agency culture should create rules without having to write them down. Check this out -- Adam's agency only has 3 rules:
Those three simple things capture so many different little things. They're easy for team members to remember, and they're rules that have scale. 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: How_to_Deal_with_Agency_Mergers_and_the_New_Partnerships_That_Result.mp3
Category:general -- posted at: 3:00am MDT |
Fri, 1 November 2019
Have you been using the same set of processes for years? When's the last time you updated your SOP's? Old, tired processes could be hindering agency growth. If you're feeling stuck it could be an Operations issue. Sales and marketing can get you clients, but stellar operations is what sets you apart - or not. Don't focus on leads; focus on processes. That's the secret to rapid growth. In this episode, we'll cover:
Today, I talked with Clint Cobia who is the COO of 98 Buck Social — a social media management agency. Clint is an ops man at his core. Over the past few years, his agency has exploded due to his focus on creating the right processes and breeding superior Ops practices. He's on the show to share ways to do better with Ops so you can grow your agency. How to Scale With Better Agency OperationsScaling up is all about hiring, firing, and processes. Those processes define your agency. If you can't produce repeatable work, you're working 10x as hard for half the return. Ask yourself these questions:
Clint says if the answer to any of those is no, you have a problem! So, hire an Ops Manager or start developing some in-house processes. Use your Ops to create an unfair advantage over the competition because it's not going to create itself. How to Level-Up Your Agency Every YearHaving an agency with 10 employees is vastly different than having one with 20. Agencies have levels. These levels aren't set in stone, but you can pretty much guarantee that if you're growing at a healthy pace, you're going to level up at least once a year. You can't use the same processes with a team of 20 that you used with 10 employees. The key is to completely strip everything down and reinvent your processes annually. It may sound like a pain, but it saves time and stress in the long run. Stop Being Scared to Scale Your AgencyAgency owners are notoriously hungry. We want to grow bigger, faster and more aggressively. But we're also notoriously scared of growth. Don't believe me? Let me ask you a question — do you know what's holding you back? Clint believes most of us do. Chances are, you do too. You know you need to hire a salesperson. You realize you need better processes. And, you aware you should definitely drop that problem client. Whatever it is — you know it but you haven't done it yet, have you? Why? Because you're scared of growth! Whether it's because you're too comfortable right now or you're scared growing because the next level is too complicated and risky, something is holding you back. But you shouldn't be scared... Growth is really just another word for agency evolution. If you're doing things right, it's bound to happen. I believe growth is a conscious choice. And it is. But so is sitting in limbo. You probably know what needs to be done. You just haven't done it yet. Here's my challenge for all of you today. Get up and go do the thing you know is holding you back. Hire that salesperson, get an Ops Manager, or fire that client. Whatever it is that you've been putting off — go do it. 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: Are_Your_Agency_Operations_Hindering_Growth_.mp3
Category:general -- posted at: 11:34am MDT |
Wed, 30 October 2019
Do you feel like growing and scaling is always a struggle? Need to differentiate yourself from other agencies? Finding success as an agency owner isn't easy. But with the right mindset, you can hit the 8-figure mark and even power through an eventual agency acquisition. Whether you want to grow your agency fast or plan on growing it to sell, you need to hear from the one and only Mitch Joel, who's done it all. In today's episode, we'll cover:
Today, I talked with Mitch Joel, co-founder of Mirum and founder of Six Pixels Group. Joel is a marketing superstar. He was one of Canada's Top 40 under 40, does keynotes for top brands, and has a best-selling book, Six Pixels of Separation. Mitch also sold his agency Mirum to WPP (a.k.a the world's largest ad agency). And he's on the show to talk about how he was able to grow, sell, and move on from his agency. 3 Steps to an 8-Figure AgencyFor many agencies, the 8-figure mark is the "we made it!" moment. But how do you get there? Honestly, everyone's path is a little different. That being said, here are 3 universal steps you'll probably need to make.
How to Power Through An Agency AcquisitionThere's another way to "make it" without hitting 8-figures. Getting your agency acquired is the dream for many of you. It happened to me, and it happened to Mitch. But what do you do when it actually happens? Your first instinct may be to go out and spend the cash. Don't do that! You have to wait until the acquisition is 100% finalized before you celebrate. The entire process will take a while. And you need to be focused on continuing to grow your agency AND focusing on your new "biggest client" — the company acquiring your agency. Force yourself to wait to celebrate. Afterward, you have to get used to not calling the shots. It's tough. You can always do what I did; go start a podcast. It gives you back some of the control you're used to. Plus, you get to help people out. It's a win-win! #1 Way to Differentiate Your AgencyAre you tired of being a "me too" agency? Then change your philosophy. STOP trying to be like your competition and you do you. Don't be like everyone else, but instead figure where you stand on these four things that set you apart from every other agency:
How can you create a differentiate using these four pillars to stand apart? First, create trust with your clients by showing tons of empathy. Develop amazing internal chemistry that is evident in the way you carry out your core values. And display the level of authority that conveys domination in your area of expertise. Then, use your messaging (website, social posts, etc.) to display this differentiation to your prospects. 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: How_to_Grow_and_Sell_an_8-Figure_Digital_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 23 October 2019
Considering a merger or acquisition to scale your agency? Wondering what's involved in selling, but overwhelmed at the thought of it all? Relax! The processes can be stressful, but it's totally manageable and can also be a great growth strategy. Whether you want to stay in control and grow your agency with an acquisition, or you want to exit your business with a massive payday, here's everything you need to know about agency mergers and acquisitions. In this episode, we'll cover:
Today, I talked with Jose Lozano CEO of 9thWonder — a full-service digital marketing agency with offices around the globe. Jose didn't start off with a massive agency, and he didn't grow one... he bought one! After selling his company to a massive organization, he led a group to acquire an agency to scale up. Jose shares why and how to scale your business by acquiring another agency. 3 Things Agency Acquirers Are Looking ForSelling your agency is an important decision. Are you really ready to sell? What will you do after you sell? Will you merge agencies and stay on, or get acquired and move on? The answers to all of these questions matter. But, before you can even start thinking about them, you have to ask the big question — is your agency sellable? When CMOs and big organizations look at agencies, they aren't just looking at profitability. They're looking for opportunities. Jose has done internal M&A polling, and I've talked to thousands of agency owners on this subject. Here are 3 things that make your agency sellable.
The Best Way to Cure Agency Growing PainsYour agency's size is not relative when it comes to stress. I've met agency owners with 3 part-time team members that were as stressed as owners with 30. It's all about how you handle key areas of your business. What's causing the stress? Is it ops? Or are you having trouble handling team members? Whatever it is you have to pinpoint it and either hire it out or partner up with someone who gets it. Deciding to grow is a conscious choice. And it can be impossible to make that choice when you're busy managing your stress level. Chances are, you know what's causing your stress. Maybe you're overwhelmed with finances and KPI's, or maybe you dragging your feet on hiring or firing. That's ok! If you feel like you're not cut out for the role of CEO the solution might be getting acquired or merging with an agency. Don't be afraid to give away some of your equity to reduce your stress. Which would you rather have? Full ownership of a stressful, chaotic agency, or 80% ownership of a well-managed one? Can You Really Grow Through Mergers and Acquisitions?Yes, you really can! Giving away equity can put you on the growth fast track. And acquiring another agency can also be one of the smartest moves you ever make if you do it right. I know what you're thinking! How do you know what your agency (or another agency) is truly worth? You can check out this video on agency valuation. Bottom line, the answer really depends: How profitable are they? What kind of niche are they in? What's their profit margin? Check out my post on how to double your growth with an acquisition. 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: Can_You_Use_Mergers_and_Acquisitions_to_Scale_Your_Digital_Agency_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 9 October 2019
Are you struggling to find the right clients? Wish your agency was working with bigger clients? Finding the right clients isn't easy — especially if you're trying to grow from freelance to agency owner. The secret is having the right qualification process and knowing who to say yes (and no) to. In this episode, we'll cover:
Today's interview is with Jesse Witham, the Co-Founder and CMO of Search Marketing Agency. Jesse has been doing SEO since he was young (like 14!), way back when keyword stuffing and digital directories were "SEO" so he knows the complicated evolution of the field. Jesse went from freelancing to owning an agency handling over $300 million in client SEO spend. He's here to share his story about agency growth and finding the right clients. How to Go From Freelancer to Agency OwnerGoing from freelancer to digital agency owner is natural. As a freelancer, you already have some clients— you just need to scale. So, why not start a business, hire a few people, and start serving more clients, right? While everyone has unique reasons for making the jump, they all share one thing in common — they're ready to go big or go home. So how do you actually do make the leap? The biggest thing is making the first hire. Sure, setting up an LLC, creating a brand and logo are all important steps. But, the symbolic moment for the transition from "freelancer" to "agency owner" is that first hire. That's when you know you've gone from being solo to being a team. And that's a lot of responsibility — suddenly you have someone relying on you. That's the magic line you cross when you go from freelancer to agency. Your first hire doesn't have to be another creative or a salesperson. You should always hire for your weakness. You don't want a clone of yourself, you want someone who can fill the gaps you leave. Like the ying to your yang :) Jesse's first hire was someone who could keep him organized; I usually suggest a first hire be a project manager. 3 Reasons You Should Steer Clear of Big Agency ClientsBig clients with their big budgets always seem appealing. Don't be fooled! Here's the problem with big clients — they can make or break your agency. Whether you're a new agency owner or have decades of experience under your belt, one thing never gets easier — turning down big budgets. Sure, big clients have tons to spend on marketing. But that doesn't mean those big clients are the best way to scale your agency. There are 3 issues with big clients.
#1 Way to Choose the Right ClientsIt's important to know when to say no to clients, but the real question is — when do you say yes? The easiest way is to create some criteria. If they fit it, they're in. If they don't, they're gone. Easier said than done, I know. But letting a few rotten apples slip through can spoil the whole bunch. You have to create crystal clear criteria and stick to it. What does this mean? It means saying no more often than you're comfortable with at first. But in the long run, you'll only be working with the ideal clients who you can really help be successful. That's a WIN! 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: 3_Reasons_To_Steer_Clear_Of_Big_Agency_Clients.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 25 September 2019
Would you like to master inbound marketing with killer content? Would you like your agency to generate more leads without working harder to find them? Generating more traffic and engagement is the key. And it's doing better is easier than you think when you address the right two audiences. With some strategy you can win at the content game and land your digital agency more inbound leads an ever. In today's episode, we'll cover:
Today, I talked with Kieran Flanagan — VP of Marketing for HubSpot. Not only did Kieran help HubSpot grow into an international marketing goliath, but he's also partially responsible for growing their freemium business. We all know HubSpot is a big deal in marketing but, did you know 100% of HubSpot's customers come from the demand created by the marketing team? Kieran's on the show today to share with us the two audiences his team focuses on and why your agency should too. Two Audiences Every Digital Agency Needs to Create Content ForHow do you satisfy the mental cravings of clients and forge emotional connections with them? HubSpot breaks their marketing department into two teams — Mind and Heart. So, the Mind team is responsible for tactical content such as blog posts. The team figures out what people are searching and creates content around questions, concerns, and keywords based on SEO demand. The Heart team is responsible for emotional creative, like videos and audio content. You know, the stuff that pulls at entertains or creates connections. This type of content makes people feel that working with your business will solve their problem or ease their pain point. Here's what's great: Each team has its own content calendar, and they act independently. This way, both types of content gets full focus, and HubSpot knows it's churning out both types of content regularly. Why the Agency Owner Should Be the Face of the AgencyWhat do VaynerMedia, Apple, and Microsoft all have in common? They all have an owner who represents the brand! You need to be the face of your agency. Now, I know that can be scary sounding. Many agency owners feel being the face of their agency is too time-consuming, but it doesn't have to be! You set the methodology. Yes - you be a leader. And no, you don't have to hustle 24/7. It can be as simple or as complicated as you want. As always, stop doing the things you suck at and nail your strengths. As an Agency CEO, you have 5 roles in the agency and being the front-face of the company is #1. How Your Digital Agency Can Increase Blog Site TrafficAs most everyone knows, HubSpot has some fantastic blogging tips. They do pillar and cluster model for their posts, including marketing funnel diagrams and spend tons of time and resources on the HubSpot blog. So, obviously they have some phenomenal blogging tips, right? Here it is... drumroll please... you have to have a reason to write blogs. Wait! Before you roll your eyes, think about it. Does your agency really have a reason to create your blogs? Are you just writing "10 Reasons to Hire a Digital Marketing Agency" style blog posts (which are so clearly just cushy soft sales pitches)? Your prospects aren't stupid - they see right through that stuff. Your blog posts don't capture the heart or the mind of your prospects. When HubSpot writes "Best Marketing Hacks of 2019" their content isn't just ranking. They're accomplishing their mission, too. They sell marketing software and their mission is to help marketers with solutions to make their jobs easier. That blog post both ranks and it furthers their mission and it caters to a specific audience with a beneficial outcome. So -- If you sell agency services to lawyers, don't write "10 reasons you need a digital marketing agency." Instead, write a post titled "10 Ways to Get Quality Law Leads for your Law Practice" and see what difference it makes.
Direct download: Which_Two_Audiences_Should_Every_Digital_Agency_Create_Content_For_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 18 September 2019
We've all seen tech companies explode in popularity and valuation. How can your digital agency get a piece a sweet tech venture? Check out how one agency owner is out there successfully building technology and simultaneously running a digital marketing agency -- and crushing it at both. In today's episode, we'll cover:
Today, I talked with Bhanuka Harischandra, Founder and CEO of Surge.Global — a digital marketing and tech agency in Sri Lanka. Bhanuka's agency does everything from video to mobile to content and even SEO... but they also build tech. So, while half of Surge Global is helping businesses scale with marketing, the other half is scaling tech projects and creating tech companies. Bhanuka is here to tell us how to build tech at your agency and use it to grow and scale your business. How to Successfully Build Technology at Your Digital AgencyTech revenue is tempting, am I right? We see these tech startups with 5 employees that scale to $500 million in a few years and it's mind-blowing. So, as an entrepreneur, you may be trying to balance your desire to chase tech with your love for agency work. Guess what? You don't have to decide between them. Instead, you can build tech and build your agency at the same time. It's all about keeping a balance. Bhanuka's advice is to hire two separate teams. Your agency team should not develop tech projects. You need a separate R&D team to help build external and internal tech projects. You can even create an incubator. Hire some developers to work on different projects, see which ones take off, and then scale the winners up. Bhanuka transitions R&D teams with great products into their own business and his agency remains a shareholder. It helps keep everyone focused on their unique task. One Unique Method to Create Tons of Internal ContentCreating internal content can be a serious pain for agency owners. Here's the thing — it's super necessary to have internal content for your team to rally around. You probably have access to some great content creators; they just need a little motivation. Bhanuka got his team to produce over 700 pieces of content in 30 days by gamifying content creation. He built an app and made a contest out of creating content. The team member who created the most content within a month would win $500. Second and third places were promised monetary prizes, too. And he compared everyone on a leaderboard to the team could view results in real-time. In the end, Surge only paid out $800 for 700 pieces of content. That's what I call a bargain! Here's what's awesome — Surge now has the app they developed out for other clients to use. (You can check out the app at Rallied.io) #1 Growth Tip for New Agency OwnersIt's been nearly unanimous from my podcast guests. The #1 piece of advice is learning to say no. But, it's about more than just saying no... It's knowing how to prioritize and say no to the wrong things so you can say yes to the right things. Even Bhanuka admits his agency almost went under by saying yes to the wrong things. He says always vet your prospects before they become clients and determine:
If the answer to any of these is no, then you need to say no to working with this prospect.
Direct download: How_to_Successfully_Build_Technology_at_Your_Digital_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 11 September 2019
Every agency wants its team to work smarter and hustle harder. But, the smart agencies know the best way to get results is with the right incentive program. On today's show, we're featuring an employee incentive model that may change the way you think about salaries and bonuses, as well as culture. In today's episode, we'll cover:
Today, I talked with Tom Murray, Managing Director of Jump450 — a full-service marketing agency in Soho, NY. Tom's agency does something a little crazy... they give 50% of profits to its employees. He's on the show to share why and how this crazy strategy is actually growing the agency faster than ever. 5 Reasons to Share 50% of Agency ProfitsGiving away 50% of your profits may sound more like a nightmare than a strategy but the thing is — it can work. Better yet, the agency is also paying employees a competitive base salary! Sounds crazy right? Maybe. But, it has a bunch of benefits you're probably not even thinking about:
Why Agencies Must Only Hire SpecialistsWhen you need someone to do SEO work, don't just hire "someone" - hire an SEO expert. This may sound obvious, but most agencies aren't following this rule. Tons of agencies just hire generalists and train for the skill. Try it the other way around. If you pack your agency with people who are really good at one thing, everyone is going to be the best at their jobs. You can probably hire fewer people. And, best of all, your clients will get the best possible help. Struggling to convince talent to come onboard? Consider filling in the holes with hyper-specialized freelancers. One Big Employee Compensation SecretAre you ready for the big secret? For most employees, it's not all about the money. Your team has to show up every day for work. In fact, half their life is basically going to be spent there. So having the right atmosphere and breeding a good agency culture is crucial when it comes to motivating, inspiring, and engaging employees. Believe it or not, amazing culture is another way to compensate your team. So, you can bonus your team or offer a profit-sharing incentive, but if your culture is garbage, the team is not going to engage. When you start thinking about salary, think culture first. You can make your team happy by providing an amazing place to work (first) and then think about the compensation model and any bonus structure. How to Implement Profit-SharingFor smaller agencies, changing the salary structure is a breeze. But, if your agency has over 10 team members, it can be difficult to make a wide-reaching change. If you're just now considering a profit-sharing model, you'll need to spend time forecasting. The key is to build out data models and track cash flow before implementing a profit-sharing model, so you can be sure the agency can support it. In other words... it's tough but, it's definitely doable. Because -- your salary structure could be the one thing holding back your agency's success.
Direct download: How_to_Incentivize_Your_Team_With_Agency_Profit-Sharing.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 4 September 2019
Having trouble getting your agency to the next level? Want to increase agency revenue but can't get beyond a plateau? Then it might be time to get a little uncomfortable and take some risks. If you really want to level-up your agency check out the big risk one agency took which yielded 4X revenue in just two years. In this episode, we'll cover:
Today, I talked with Chris Brencans, CMO at OnTheMap — a full-service digital marketing agency. Chris's agency does something that may sound a little strange. Half of the agency's team are salespeople. That's right! 50% of the approximately 70 people at the agency are involved in sales, and business is booming. OnTheMap's revenue has grown from $1 Million to $4 Million in the last 2 years by investing in its salespeople and taking some risks. Chris is on the show to share some tips with us. 3 Hacks Help Your Agency Level Up
Why Outbound Will Make Your Digital Agency Revenue SoarInbound marketing keeps you successful. But it's outbound marketing which makes you successful. Chris's agency is 50% salespeople. They bet big on outbound, and it grew them from $1m to $4m. This isn't a one-off tactic. Neil Patel uses outbound to grow his agency, and I had one agency on the podcast who has grown to $6m in 2 years tackling outbound. Outbound just works. You can execute it on a lean budget. There are tons of killer strategies to follow. And it's easy to get started. You don't need half of your team in sales, like Chris. It just depends on your specific processes. But you definitely need one person, or a few, dedicated to sales. How to Hire the Right Agency Sales TeamAttracting salespeople is all about salary, benefits, and culture. Selecting the right candidate(s) is all about these 3 things.
Direct download: How_One_Agency_Increased_Revenue_by_4X_in_2_Years.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 28 August 2019
Are you struggling to capture those big fish clients? Does it feel like your agency is constantly battling for every account? We've all been there! You've still got some growing pains. But, what if you could skip those growing pains and go right to be big leagues? Here's how one agency owner made his first client Kobe Bryant. In today's episode, we'll cover:
Today, I talked with David Brickley, CEO of STN Digital and Host of The Business Of Social podcast. We all have our own unique origin story but, David's story is downright crazy. Not only did he score one of the biggest names in sports (Kobe Bryant!) as his very first client — he continues to work with some of the biggest names in sports and entertainment. James Harden, Shaq, Amazon, UFC, the Olympics, and even movie stars are his bread-and-butter. David's here to share his story about how you can grow your agency event while you're a small or mid-sized shop. How to Score Big Agency ClientsWhat if I told you that David convinced Kobe Bryant to be his first client through a cold email? It's true! And, there's a lot we can all learn from that... Scoring your first big client is all about taking chances. Get out there and chase them - because why couldn't it be you? Forget about sticking to inbound and waiting for them to knock on your door. If there's something you want bad enough, get out there and chase it. And you know as well as I do — it only takes one big client to completely change the course of your agency. Once you have a big name or a big brand, you can leverage them to get other big clients. It's the domino effect. And, winning with outbound doesn't require a big budget - it's all about the grind. 3 Reasons Your Agency Should Hire Some FreelancersDon't worry - you don't need a huge team to serve big clients, you may just need to add some freelancers. The gig economy is in full swing. You can talented and highly skilled freelancers to work on a project basis. And here's why:
#1 Way For Digital Agencies to Stay CompetitiveEvery year, hundreds of agencies close their doors for good... and for most of them it's not intentional, but rather the result of lacking one basic thing. They didn't adapt. The algorithms keep changing and what worked last week or last month or last year isn't cutting it. For example, EO isn't the same this year as last year. And, it could be wildly different next year. Digital agencies have to be flexible and they need to be constantly innovating. If you aren't creating bigger, better, and more interesting things, you're headed down a dangerous road. You can't keep performing the same old tricks; you must keep things new and evolve to the needs of your audience. Client retention isn't all about wooing them (although the right gifts don't hurt!) It's about providing them value with innovative solutions they can't find with anyone else.
Direct download: How_to_Land_and_Retain_Big_Agency_Clients.mp3
Category:general -- posted at: 3:00am MDT |
Tue, 20 August 2019
Creating video content is hard, right? It's got to be perfect lighting, sound, and of course relevant subject matter. Don't let all that overwhelm stands in your way of getting started. Video content is one of the hottest ways to attract new agency business. And, anyone can make incredible videos without a ton of experience - you just need to get out of your own way in order to get started. In today's episode, we'll cover:
Today, I talked with Chris Deblasio, actor, producer, and CEO of Agency850, the entertainment marketing company he founded. Chris's agency shoots Hollywood-quality videos and does product placement for movies and TV. Chris went from selling yellow page ads to running a successful video agency. And, he's learned a few tricks along the way. From being comfy in front of her camera to winning with video creatives, Chris explains how video marketing can add value to your agency's services. How to Start Making Video ContentChris makes high-quality videos at his agency but he's the first to admit you don't need fancy equipment to get the attention of your prospects. You don't need an expensive camera and a sound crew to produce outstanding videos -- just need your phone and a vision. Want to know the big secret to making great video content? Just start! The sooner you start, the sooner it will become second nature to you. Sure, you'll make some crappy videos in the beginning. But, you're never going to make really killer ones until you a few under your belt. No one is going to judge you by one or two stinky videos. Prospects will be looking at your entire body of content, not a few rough ones. The sooner you start, the sooner you can find your voice. And the sooner you can cash in on video marketing – which isn't going away anytime soon. 3 Easy Video Types to Help You Get StartedHere are 3 super-easy video content types to get you started. All you'll need is a camera and a smile.
#1 Tip for Creating Engaging Video ContentThe number one tip for making videos is... drumroll, please... be yourself! Yes! I know it's corny but it's true. Viewers want you to be genuine; this is easily the most important thing you can do to be successful with video content. Besides, no one can replicate you or your personality. It's totally normal. Most people tend to get a little nervous when in front of a camera. When I first got in front of the camera, I looked like an Oompa Loompa :) Take off the mask. A fake persona is obvious and copying someone else -- like Gary Vee or Casey Neistat is disingenuous. Go ahead and be yourself and give people a chance to like you for you.
Direct download: How_to_Make_Video_Content_To_Attract_New_Agency_Business.mp3
Category:general -- posted at: 7:42am MDT |
Wed, 14 August 2019
Looking for a low-risk, high-result way to scale your agency? Want the flexibility to grow and scale at will? Freelancers are a great way to grab top talent in this gig economy. Using freelancers can help scale your agency faster and easier than bringing on permanent employees and the overhead that goes with them. But, the real key is knowing which roles to hand to freelancers and which roles you should not outsource. But, how about using freelancers as a core component of your workforce? I talk to an agency owner that uses both in-house employees and freelancers on almost every project. And it's helped him grow at the speed-of-light.
Today, I talked with David Freund, Partner at Junto — a web design and content agency. David's agency doesn't just use freelancers on occasion... freelancers are a core component of his agency's growth strategy, with over 25 on his team. Vetting freelancers and leaning on them to deliver cost-effective results helps Junto stay competitive in the commoditized market. And, David's here to give us some tips on when and how to use freelancers the right way in order to grow your digital agency. How to Win With FreelancersBlending an in-house team with freelancers has a ton of benefits. Hiring a load of freelancers can help your agency go remote. And, it can definitely help you save on costs and onboarding headaches. But, the secret benefit is that it gives you insane flexibility to scale. With a core team of employees in place, you can hire and let-go freelancers at will. As your growth has ebbs and flows, your hybrid team of employees and freelancers has the flexibility to ebb and flow, as well. Need a new website designer? Hire a freelancer. Need fewer SEO specialists? Eliminate a few. With freelancers, you can grow and shrink at will. And, you don't have to worry about all of the junk that goes into hiring and firing. This gives you a huge advantage over your competitors who are stuck with less flexibility. Which Roles You Should Never OutsourceAs agency owners, the thought of outsourcing talent can be terrifying. Finding and vetting freelancers can be overwhelming. And, some freelancers can be unreliable or unpredictable unless. If you've been burned before you might be scared to work with others in the future. But, here's the secret — Dave says you have to outsource the right roles. For starters, keep strategy and project/account managers in-house. Keeping these roles strictly for permanent employees gives you the quality control that is necessary to grow your business. The last thing you want is to lose your agency's standard or sacrifice its reputation. Having a key team of managers within your walls is the secret to keeping a high standard and reaping the benefits of the gig economy. Your account managers act as a liaison between the agency and the client. You can structure your agency to have account managers work with the freelancers. That leaves you in charge of the big picture. But, you don't have to manage ALL of these freelancers and in-house team members at the same time. What Not To Do With Agency FreelancersIt can be tempting to hire some freelancers, send them work, and then you deliver the end product to the client. Basically, your agency is just playing the middleman and reaping the rewards. Sounds like a win-win, right? Nope! Your agency needs to hold the reigns. You must have the systems in place to facilitate freelancers success and deliver consistent results to your clients. If the end product is a representation of your agency's work you have to have control over it from start to finish. Your job is to provide your freelancers with the systems they need in order to succeed. And, you or someone within your agency needs to have the skillset to understand and oversee the work you're outsourcing to a freelancer. So for example, if you don't know anything about web design, don't just hire freelancers and hand over a finished website to the client. At the very least, your account manager should have an understanding of web design and work hand-in-hand with the freelancer. 3 Reasons Smaller Agencies Win BigSize doesn't matter - no, really! :) There's never been a better time to be a small or mid-sized agency. You can be nimble and agile with your clients, and you can be far more flexible than the bigger agencies. If or when prospects question your agency's size, use these benefits to spin the story in your favor:
Direct download: How_to_Use_Freelancers_as_a_Low-Risk_Way_to_Scale_Your_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 7 August 2019
Struggling to win new agency business in order to supercharge growth? Stuck working in the business and unable to step back in order to work on the business? Your role as an agency leader is always evolving as the agency grows. But your #1 job is being an amazing leader and giving your team the guidance and support they need. In this episode, we'll cover:
Today, I talked with Steve Weiss, Co-founder of MuteSix — a Facebook ad agency. Steve moved to Los Angeles, CA to do standup comedy and instead ended up creating a digital agency. Four years later and he is now running an 8-figure agency with over 130 employees! So, how does a comedian transition to a massively successful agency owner....? "Did you ever hear the one about the wildly successful agency owner?" No? Then stick around as Steve shares his story of growth, including his top 3 tips for being a better agency leader :) How to Win New Agency Business By Building RelationshipsAs agency owners, we always want to win the pitch and land new business. You get in the room with the prospect and you want to tell them you can handle anything. You're willing to do anything and be anything in order to win a pitch. But that never ends well, does it? In Steve's case, he uses humor (remember, he's a former standup comedian!) to his benefit... It's ok to tell a prospect you don't know how to do something. Be the authority in a specific niche - horizontal and/or vertical. When they ask for something outside of your skillset, be honest or use humor like Steve. For example, he tells prospects that SEO is like "black magic" to him, but what he's really good at it Facebook ads. And, he tells them his agency crushes Facebook ads; there's no one better at Facebook ads. His honesty and a bit of humor builds trust and creates the foundation for a relationship. In fact, it can be the secret to winning the pitch. If you're candid with them, they're going to respect you more for it. We can all smell a sales pitch from a mile away. So can your prospects. When you start bragging, they know you're desperate for the sale. Be truthful, honest, and win business with ideal clients who appreciate who you are. They'll believe you when you tell them what you're actually good at. So, instead of trying to convince clients you're "full service" even though you aren't, think about flipping the script. Be honest with them. And, use that honesty to form a great relationship. #1 Way to Supercharge Digital Agency GrowthWant to know the secret to accelerate digital agency growth? You can't do it alone ~ you need a team :) Empowering your team is one of the easiest ways to achieve fast growth. If you hired right, your team is filled with skill and talent. You want is to be the smartest person in the room. Hire people who are smarter and better than you are and reap the benefits of supercharging your agency's growth. Believe me, if I would have been the smartest person at my digital agency, we would have never gotten anywhere! Steve says to give your team some room to grow and dominate projects on their own. And, always put your team ahead of revenue. Clients come-and-go. Good team members don't. It's hard to find people who fit into your culture, understand your vision, and have the passion to create results on their own. Your team is your biggest asset so treat them as such. Being a leader isn't all about you, your agency, and your vision... It's about providing opportunity and a pathway for growth and fulfillment. When you're a great leader that alone can be fulfilling for you. It's a win-win. 3 Tips for Being an Amazing Digital Agency Leader1. Lead by example. Don't tell your team how to win, show them how. As a digital agency owner, all eyes are on you. Yes, it can be stressful, but leading by example is a good way to empower your team. Recognize your team's strengths and make sure you're continually developing those, rather than focusing on their weaknesses. Let your team shine by showing them how to become even better. 2. Don't try to please everyone. Don't be the people pleaser. You have to know when to say no. And you should always be willing to bring up issues with your team. Try to be friendly and have fun with your team, for sure. But, at the end of the day, you still have to be respected as the leader and not just another guy or gal on the team. 3. Learn how to fire. You should never have to motivate an employee. It's ok to inspire them, but motivation needs to come from within. Share the vision with them to inspire. Show them how they're part of something bigger and how their role creates a residual effect on clients and your clients' clients. That's inspiring! But if you've got someone who needs constant motivation, then it's probably time to fire them. It's not as hard as it sounds and eliminating dead weight will actually benefit the rest of the team and the overall culture.
Direct download: How_to_Supercharge_Digital_Agency_Growth_with_Amazing_Leadership.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 31 July 2019
Experts are sensing a downturn in the economy... But is your agency recession proof? So many variables go into a healthy agency. Maybe you should look at raising agency prices? Maybe your agency really needs to hire (or fire) to make yourself indispensable to clients? If the economy takes a hit, you have to know who to hire, who to fire, and the right way to price your services in order to survive. In today's episode, we'll cover:
I had a great conversation with Scarlett Rosier, Co-founder of Rhyme and Reason Design. Scarlett is one of those "unicorns" who actually went to college and got a Masters in Advertising. (So many of us are accidental agency owners who just fell into the business!) Scarlett is put her skills to work as the Director of Operations at her agency for the past 10 years. She's here to talk about growing in a down economy, nailing your pricing, and the value in project managers. How to Recession Proof Your AgencyWorried about a potentially volatile economy? Don't be! When the market goes down, your agency has an opportunity to go up. Here's the big secret — in-house marketing teams are usually the first cut. Cutting the in-house team, therefore, justifies agency costs for your clients. Brands still need marketing in a recession. But, they can usually save money by getting more help externally. Don't fear a recession; embrace it. If you survive the recession, you'll have a bunch of new clients and a reason to raise prices. And you need to raise prices in order to be profitable. When Should You Raise Your Prices?The simplest answer is this — whenever you can! You have to be able to justify a price increase with value. So, if your value has gone up over the past year, your prices should too. Let's say you've hired two new people, learned a ton of tips and tricks, and you're even better at helping clients this year than you were last year. Your prices should reflect those improvements because your clients are benefitting from them. I recommend reviewing and raising prices at least once a year. You should constantly be improving, building better processes, learning new techniques and strategies. And that means you're giving clients more value year-over-year. Adjust your proposals to match the increased value. Plus, you probably give your employees a yearly raise based on performance, right? Your clients should be giving you one too! Think about it this way... If you have a heart attack, are you going to use the best surgeon or the cheapest one? Price your agency services to match your skill and you'll attract the ideal clients instead of the ones who just want a bargain. A price increase is the fastest and easiest way to grow your agency business. 3 Ways Project Managers Help Retain ClientsWant to know what clients really want? They want relationships and regular communication. They want to feel assured they've made the right decision to work with your agency. And that's where a great PM helps retain clients.
Is Your Agency Business Partner Still the Right Fit?Business partner relationships can be like a marriage. You rely on each other, and you know the day-to-day struggles the other faces. But, what happens when your marriage evolves or changes? But also like marriage, business partner "divorce" isn't easy. And the realization of its necessity something many owners grapple with. I have a saying — "You either know the bad partner or you are the bad partner." Sure, sometimes partnerships are successful, but oftentimes I see the partners outgrow each other. So how do you know when it's time to part ways with a business partner? It's all about communication and goals... Scarlett says to look at how the person argues as an indicator of their communication. Are they articulate? Can they stand their ground intelligently? You don't need to agree all the time, but being able to disagree effectively is what makes a great partnership. Rhyme and Reason was initially founded by three partners, but there came a time where one of them had different goals. That's when Scarlett realized there needed to be a shift in the agency's leadership. If a partner has career goals that don't align with yours and with the agency, it may be time to part ways.
Direct download: How_To_Raise_Prices_and_Recession_Proof_Your_Digital_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 24 July 2019
Do you want to hire the right salespeople? Not sure what measures to take to set them up for success? Curious about the best way to compensate your sales team? Sales is a critical part of your agency's success. Sales drives conversions, captures clients, and helps relieve some major the burden from the owner. Hiring an amazing sales team and setting them up for success if the key to longterm agency growth. In today's episode, we'll cover:
Today, I talked with Alex Chernyak, Director of Business Development at Martino Flynn, a digital agency in New York. Alex has over 15 years of sales and digital marketing experience, and he's owned his own agency, too. With a start in radio, Alex was drawn into the agency space by the allure of freedom. And, since then he's been helping agencies build killer sales teams and sales systems. Over the years, he's learned how to find, hire, and train salespeople that accelerate agency growth. #1 Way to Set Your Sales Team Up for SuccessAre you thinking about hiring for sales? Hiring isn't easy. But, hiring sales is one of the trickiest in the agency space. Sure, hiring for core values and culture is important. And, you should always have a vetting process in place to weed out poor applicants. But, that's only going to get the right person in the door. How do you set them up to win accounts? The answer: agencies must have an existing sales system in place to facilitate sales success. Salespeople aren't plug-and-play. And even if your sales hire has experience in another agency, there are nuances to every agency business that just can't be handed off. You can't give your new salesperson a phone and expect them to start setting appointments or landing deals. It doesn't matter how great of a salesperson they are or what agency they worked at before; they need support and an existing sales system. Sales rockstars are built — not born. 2 Things Every Salesperson Needs to Do1. Build a sales list. List out 200 - 300 prospects. These are the prospects your sales team is going to target with drip campaigns, paid content, etc. And, they should be constantly rotating this list based on interest. Here's a great tip from Alex — keep a separate list of your top 10 - 20 prospects. The sales team should have extra resources (e.g., audits, outreach support, etc.) for these prospects. 2. Find ways to communicate value. Your agency sales team can help you break free of being viewed as a commodity. Sales needs to diagnose problems, build rapport, and justify the price with value. Always sell solutions (not features) and talk value over cost... always! How Do You Separate Your Services from a Commodity?Here's the hard truth. There are people who are offering the same services as your agency for a fraction of the price. Where some prospects are concerned, if price is all that matters, you already lost. So, flip the script. It's not about price — it's about quantifying value. Sure, that web developer in another country can build a site for $500. But how good is it at converting leads? This is where your sales team comes into play. When a prospect starts talking price, change the subject to value. Here's an analogy: A prospect comes to you and asks you to build a killer WordPress site. You quote them $25k. They come back the next day and say, "This freelancer overseas said he can do it for $2,000. Why should I pick you?" If you've given your sales team the right playbook, this one should be easy... Why is it only $2,000? Can they build it as fast as you can? Do they have the level of experience you have? Do you offer a unique branding style that no one can mimic? Don't sell them a service. Sell them a key to unlock the treasure chest with solutions to their greatest challenge. This isn't always easy! A lot of the work we do is invisible to clients. And an effective Account Manager can continue to communicate results so your agency is never viewed as a commodity. However, if you hired the right salesperson, they can communicate it with confidence and head it off early and communicate value before it becomes a question with the prospect. Should You Pay Based on Commission or Salary?In short - both! Straight commission sales compensation isn't low-risk high-reward — it's low-risk low-reward. It leads to higher turnover. Plus, your salespeople don't have any incentives to be an evangelist for your brand. They don't care how good the prospect is or how well they fit with your culture. They need to make ends meet, so they can't afford to be selective with who they sell to and why. On the flip side, straight salary is for marketers. Salespeople need incentives to go above and beyond in order to land the bigger, better clients. They are driven by the challenge of earning their commission and need you to dangle the carrot. Salespeople should wear a marketers hat and a sales bandana. Give them a commission and a base-salary. I always suggest the base be something they can just barely live on. But the commission structure should help them live the lifestyle they choose. That's why a tiered commission approach works well. Ask your salesperson how much they want to earn for a year, and then help them develop a plan using your base salary + commission structure in order to earn that level. Are You Looking for Outsourced Copywriting for Your Agency or Clients?Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more. Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter. Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.
Direct download: How_to_Hire_Train_and_Pay_a_Successful_Agency_Sales_Team.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 17 July 2019
Not sure how to determine agency prices? How can you stay competitive while separating your agency the competition? The first step is to stop copying them! Quit focusing on the competition because it always results in you becoming a copycat agency. If you want to grow, you have to dare to be different. In today's episode, we'll cover:
Today, I talked with Nick Eubanks, CEO and Founder of From the Future. Nick got his start by spamming cold emails and working real estate. But, once he started his agency, he grew fast! In just 5 years, Nick's agency was worth millions. He's sharing his story so you can grow quicker, and also avoid some of his mistakes. The Best Way to Determine Your Agency Pricing StructureMany agencies determine their pricing structure by looking at their competitors and matching or competitively pricing themselves in the market. Let's be honest — a lot of you probably started out by picking a fair-sounding price point. Am I right? Price your agency's services intentionally. Sure, you can do what your competitors are doing. But, at that point, you've already lost. Instead, try this — price your services based on your value and desired margins. The average net margin for a services company in the U.S. is 32% - so make that should be your goal. To figure out how much you should charge clients, add up your agency expenses and labor expenses, then figure in the value of your services. Then charge clients at least 32% above the cost of your expenses. But, remember, you're selling a solution — not just a product. You can charge as high as 50% or more over margin and still attract clients. Bear in mind, you need to factor in all of the miscellaneous business costs into this model. For example, have you ever considered how the expense associated with internal meetings? Why Your Meetings May Be Costing You Too MuchInternal meetings are a great way to build company culture, create rapport among the team, and of course, brainstorm. But Nick says they're more expensive than we realize. Let's say you have 4 team members attend an hour-long meeting. If you're billing their time at $200 an hour, that meeting is costing you $800. Not only is that meeting costing you billable hours, but those four employees aren't directly servicing clients during that time. So, the meeting expense is actually more than you think. The lesson here is not to cut out meetings - team meetings are a great way to keep your team working cohesively. But, you need to be aware of how much meetings cost. And, build those costs into your price structure. How to Separate Your Agency in a Crowded MarketNick's agency started using technical SEO strategies combined with a design/UX team to stand out. But, it's about more than just services. Being unique requires some critical thinking. What are your competitors doing? Whatever it is, think about doing the opposite. That's how to fast track your growth. For example, if everyone is approaching SEO the same way, add a twist and do technical SEO. Look for opportunities in your niche. And, when you find one — latch onto it. Sure, you should definitely compete for clients. And, you don't have to just go after clients no one else is taking on. But, you should always be looking for under-serviced prospects within a market. In other words, don't watch your competitors and just copy what they're doing. Figure out what they're doing and do something entirely different. Identify your strengths and what you do better than anyone else. Are You Looking for Outsourced Copywriting for Your Agency or Clients?Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more. Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter. Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.
Direct download: How_to_Determine_Agency_Prices_Without_Copying_the_Competition.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 10 July 2019
Looking for an innovative way to inspire your team? One agency has broken the mold on bonuses and profit-sharing. Instead, they're inspiring their team with 50% of top-line revenue. If you want your already amazing team to be inspired enough to hustle harder, check out this incentive program that has an agency team out-earning the leadership team. In this episode, we'll cover:
Today's podcast guest is Shaun Sheikh, CEO and Co-founder of Jump 450 Media. Shaun has been on Forbes 30 under 30 list, and his agency has blown up tot he tune of 8 figures in just a few years. Like most young agency owners, Shaun has introduced some creative strategies and innovative operations processes into his agency. Today, we talk about a few of those including an exciting employee compensation model that he calls his secret sauce of success. 3 Ways to Identify Bad Agency ClientsLearning to say no to bad clients is one of the major pillars of agency growth. When you start out, you want (and need) to take what any and every client you can land. That's fine! You should be taking on all clients and discovering who your agency really is. Who you can help and who you can't. What you're good at and what you're not. What you love to do and what you don't. But, once you get established and learn the hard lessons, it's time to get really focused so you are only working with ideal clients that pay what you're worth. So, where do you start? How do you figure out which clients are good and which ones you need to "swipe left"? 1. Start with culture. Before you even think about cash, think about culture. If a prospect isn't a good fit with your agency's culture, you'll know. A good pre-qualification process is the key to identifying them. Remember, there's no such thing as a bad client ~ only a bad prospect or bad process. There's no strategy involved here. Trust me; you'll just know. Get rid of these prospects/clients ASAP. They're a terrible fit, and you will almost certainly run into issues with them in the future. 2. Analyze client spend. Does the client's time-to-value ratio make sense? Some clients may be valued at big bucks, but they end up taking up too many agency resources. When agencies first start, naturally they want to land high ticket clients. A $50k client may seem like a dream-come-true. But, if you can service seven $10k clients with the same amount of effort, that $50k pain-in-the-a$$ client no longer makes sense, right? 3. Map out future potential. This is the hidden client statistic no one ever talks about. What does their future potential look like as far as upsells, future campaigns? Is this client adapting to their changing environment? Are they innovating in their industry? Does their potential look as though it will support your goals? If not, then don't spin your wheels. A Unique and Inspiring Employee Profit Sharing ModelThere are several schools of thought on employee profit share programs. And, I know a lot of agencies who swear by this type of monetary incentive. However, Shaun has a pretty interesting and unique profit sharing model you're going to love. Jump 450 gives its agency employees 50% of the top-line revenue! That seems like... a lot, right? Here's the catch... Employees can only earn that incentive if they outperform their own salary. They have to hit their salary goals first. Then, they start earning additional revenue based on performance. And, he does this on a monthly basis! This bonus structure helps agency employees feel as though they co-run the company. They get involved with every client and try to outperform themselves. Some of Jump 450's employees out-earn the leadership team... Crazy, right?! Keep in mind, to get qualify for the bonus the team has to perform like crazy. And, all of that extra performance means better profit margins profits for the agency. In reality, the team is getting 50% of the profit they hustle for. This is the above and beyond stuff they aren't expected to do. Late nights, next-level pitch prep, and after-hours client meetings, etc. And, when the employees earn big, so does the agency. It's literally a WIN-WIN. Will this work for every agency? Maybe not. But, if this kind of incentive program fits into your existing business model, it can be a great way to get to the next level.
Direct download: Why_an_8-Figure_Agency_Bonuses_the_Team_With_50_of_Revenue.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 3 July 2019
Have you ever wondered how agency culture effects business growth? If you think they're two separate things, think again! Your culture speaks volumes about your agency. When your culture is a defining factor of your agency, you will experience amazing growth. Simply put, the foundation of every great brand is a great culture. So spend time developing an amazing culture and you will create brand ambassadors to move the needle on your agency's business. In this episode, we'll cover:
Today, I talked with Brandy Obvinseva the co-founder of Gallant Culture. Brandy has a degree in international studies and intended to be a political ambassador. Instead, she helps companies find their brand ambassadors. After a stint at Texaco and a few other oil & gas companies, she co-founded her agency, Gallant. Since then, her agency has changed a few times but it's always been driven by culture. She has unique views on niching and culture that have helped her agency explode. Why It's Important to Niche Horizontally or VerticallySelecting and marketing to a specific niche is a significant growth pillar for agencies. It gives you purpose, drive, and a defined process to use to score clients and drive profits. It just works. But what is a niche? Is it the industry you choose to work in? Is it the services you offer? Maybe. It can be. But, you don't have to niche vertically into an industry. You can niche horizontally based on a specific skill set or expertise in a specific technology. If your agency helps plumbers build websites. Then plumber websites is your vertical niche. If your agency helps anyone build a Joomla (software) websites using a specific set of processes, then Joomla websites is your horizontal niche. Ready to have your mind blow? You can really drill down and have BOTH a horizontal and vertical niche. Here's the secret — a niche is anything that helps you understand your clients better and motivates you to accomplish their goals effectively. Selecting a niche doesn't mean saying "no" to clients outside of your audience. It just means identifying with and understanding a specific audience, ultimately giving your agency an advantage over others. Want to figure out your niche? Try this! Write down three of your clients biggest challenges every day for 30 days. At the end, map out what their issues are. And, think about how you can pivot your agency to solve those problems. That's your niche! You could even have multiple niches but focus on building one niche at a time. How Agency Culture Develops Brand AmbassadorsAs Brandy says, "If you want to have a group of people that are going to wave your flag, they need to know what flag they're waiving." Your culture is the unspoken rules of your agency. It impacts how your employees pitch to clients, communicate with them, and (most importantly) converts them. Always lead with culture, hire with culture, and even choose clients who are a good culture fit. But, here's where it gets interesting... Brandy says you don't have to specifically "define culture." It's naturally going to be interpreted uniquely by each team member. One of your employees may be perky and bubbly, while another may be methodical and quiet. That's fine! There's room both within the same agency culture. For example, if one of your core values is honesty, both can find ways to allow honesty to shine through in their work. The important thing is that your culture drives them. They should be your brand ambassadors. To that end, they need to understand your culture and live it. So, if you're still trying to find your niche, start with your culture. What kinds of clients fit your agency's culture? Which of your team members and clients can be your agency's brand ambassadors? #1 Way to Cultivate Amazing Agency CultureHow do you nurture and grow your culture? By being adaptable. Your agency culture will evolve and change over time. As your team gets bigger and new employees enter the scene things will change. The rules of your business will change too, and you'll probably pivot a couple of times along the way. That's normal and completely natural as part of the growth process. But, you have to be willing to constantly develop and improve upon your culture as the agency environment changes. Let your team members, clients, and industry guide you. In the beginning, a minimalist culture which promotes enthusiasm and hustling may work out great. But, 5 years down the road could be another story. You will have new clients and employees who are going in another direction. The culture of today will not match the culture of the future ~ adaptability is a must.
Direct download: How_to_Create_Brand_Ambassadors_to_Grow_Your_Agency_1.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 26 June 2019
Considering buying or selling your digital agency? Acquiring another agency is an excellent growth strategy and it’s might be easier and less expensive than you might think. An acquisition can help improve profit margins, expand your client base, and inherit a skilled team while eliminating the competition. An agency acquisition is worth exploring if you're interested in rapid growth. In this episode, we’ll cover:
Today’s podcast guest is Brook Schaaf, co-founder, and CEO of FMTC, an agency dedicated to helping advertisers and merchants develop discount and affiliate program with curated data and management. Prior to going the entrepreneur route, Brook got his start at Zappos where he developed his passion for affiliate marketing. Since then, he started his own firm and is on the fast track to major growing by acquiring other agencies and/or their books of business. Do You Need To Be a Big Agency In Order to Buy One?Nope! At the time he acquired his first agency, Brook’s firm had just 10 remote employees. The first agency he bought was PartnerCentric, which was of equal size to his agency. The existing owner was burnout and looking for an exit strategy. He said the process was long (it took two years!) and sometimes frustrating, but totally worth it in the end. Do You Need A lot of Cash to Buy Another Agency?Nope! According to Brook, an agency is generally worth 50% of its topline revenue excluding media revenue (since that can fluctuate). The problem is most sellers want to build retirement cash into negotiations and therefore expects to get more than it’s worth. However, once you reach an agreement on the valuation you don’t need all that in upfront cash. How do you know what your agency actually worth? My formula differs from Brooks somewhat because I factor in a multiple of EBITDA. You can check out my valuation chart here. But it all boils down to this… Your agency’s value is the amount your willing to sell and which a buyer is willing to buy. But you don’t need to have a ton of cash laying around in order to buy an agency. Standard funding includes a cash downpayment of between 10-20% with the remainder delivered in one of four ways:
Brook’s acquisition was funded with a cash downpayment and a seller-held note payable over the course of two years. It’s risky for both parties, but it’s the best way to move forward without needing anyone else’s permission. How to Structure an Agency AcquisitionAdvice from both of us who have bought and sold agencies -- involve lawyers in as little as possible. The bulk of negotiations can be done without racking up attorney’s fees. Determine whether it’s an asset sale or equity/stock sale.
Brook says an asset sale is much clearer and easier to manage. It also creates a cleaner exit strategy for the seller so he/she can move on. The 4 Criteria of a Good Agency to Acquire?1- Readiness. The seller needs to be genuinely ready to sell. A lot of times people put feelers out and then hesitate when it gets real. If you sense any mixed feelings, walk away. 2- Culture. Remember, in most cases, you’re inheriting a team too. (There will be technical stuff about firing and immediately rehiring them, but most sellers will want to make sure their team is taken care of.) So make sure their team’s vibe will gel with yours. After having acquired multiple agencies, Brooks says the team is typically thrilled for the new vibrancy. 3- Numbers. How stable is this agency? How profitable are their accounts? It should go without saying, but you need to make sure they’re running healthy books. 4- Skillset. Are you confident that the acquired agency and its team can work the way your existing agency works? If you’re acquiring an agency to expand your foothold in the market then skillset is key. If you’re buying to add a service then it’s less important that they match your agency's skill set instead you want theirs to compliment yours. Considering selling or buying an agency? Check out more details about the process here.
Direct download: How_An_Agency_Used_Acquisitions_to_Double_Growth.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 19 June 2019
Do you feel like your agency is stuck with subpar employees? Think maybe you have all the wrong people but too afraid to clean house? Firing employees is never easy. But, underperforming or toxic team members will kill your agency's growth. Check out the story of how one agency fired his entire team twice, the aftermath of the experience, and what learned by rebuilding. In today's episode, we'll cover:
Today, I talked with Aaron Edwards, co-founder of The Charles NYC. Aaron quit his job, moved from London to NYC, and created a digital marketing agency. Since then, Aaron's agency has grown into a multi-million dollar phenomenon. Success didn't come without hard work and many lessons along the way. In fact, he's had to fire ALL his employees twice. Talk about "cleaning house." Aaron shares some great growth tips, including how to inspire culture, and which two mistakes led him to fire his entire team. Why Your Agency Needs a Financial ModelAaron worked in finance before he started his agency. And, his biggest financial tip is this — have a financial model. This means pulling out spreadsheets and diving into some math (which is something us creatives aren't usually in to). But, having a financial model can save you a ton of time and headaches in the long run. Here's a great way to get started. Think about the revenue goal you want to reach. Then, work the math backward to figure out how to get there. And, use those insights to create the right financial model. In most cases, you either need more clients or you need to charge more. You also need to figure out how to build up cash reserves to make it through some lean times (think 3 - 6 months of salaries and expenses). Plus, you should obtain a line of credit for the small emergencies. Ideally, secure the line of credit when you don't need it, so it's already available for when you do! And, cut your margins down as slim as possible. Remember, putting profit first can growth hack your agency. Creating a Culture of Personal OwnershipWant to know what kills agency culture faster than anything? Egos! If your employees are taking failures too personally — they won't last long. Every agency has failures, but the difference is how you recover from them. Teach your team to treat failures as learning opportunities. Every employee has to be able to take ownership within their role without worrying that a mistake or misstep will threaten their credibility. To achieve this, you need an open culture. Employees should be able to talk to their leadership team about bad experiences. And, agency management should offer coaching/mentorship sessions to help fix issues. Don't let failures drag an individual or entire team down. Create an open culture where mistakes and failures are embraced. 2 Mistakes Which Led to Firing All EmployeesAaron had to fire his entire team twice and rebuild the agency. Looking back, he says two big mistakes led to the massive house-cleaning:
Direct download: 2_Mistakes_That_Led_an_Agency_to_Fire_All_Their_Employees_1.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 12 June 2019
Not sure how to find and hire the right digital agency talent to help you grow? Here's the 8-steps one agency owner uses to build his business. He is also diving into reasons why niching down has was a good decision and the most important focus of agency sales pitches.
Today, I talked with Chris Martinez Co-founder of DUDE! — an agency that provides unlimited web designing for other agencies. Chris has been through the ropes as an agency owner. And he's worked hard to figure out how to nail pitches, niche down, and hire that perfect prospect. Plus, he wears a wrestling mask sometimes. What's not to love? 3 Reasons Your Agency Must Niche DownChris said the single best decision he made in order to help his agency grow was to select a niche. And if you haven't yet, you need to niche down, too! Here are 3 reasons:
Related: How Your Agency Can Pick a Niche and Dominate It Besides, your clients really only are about 2 things:
That's it! So why not start thinking high-level. Be specific in who you serve and create processes that give you an edge over your competitors. Use your successes and case stories to win even more business in the same category. The Only Kind of Profit that MattersEveryone wants the big clients, right? But bigger clients aren't the key driver to agency growth. It's profitability. For example, when your first big client comes in with a $50k contract, you're going to want to say YES! But, how much of that $50k is really hitting your bottom line? You might be a 7-figure agency but if your margins are single digits then gross revenue doesn't mean squat. Conversely, you might be a $300,000 agency who's really learned how to tighten your belt and coming home with 40% profit, then you're doing really well for yourself. If your bottom line isn't where it should be, you need to pivot. Carve out your niche, determine where your expenses have gone askew, and then go lean and/or raise your prices. Do whatever it takes to put you where you want to be. Sure, you may be taking some losses when you first startup. But, if your agency is established and you're margins aren't at 30% or better, it's time to change courses. And that change may start with learning how to say NO! 8-Steps to Hiring Culture-Fit Digital Agency TalentHiring someone who has the skill set to do a job is easy. Hiring someone who wants to do a job in the environment and with the team you've created can be a bit tougher. Chris says to hire people for their culture-fit, not their technical-fit. You can teach someone a skillset but you can't make them change who they are. Chris has an amazing culture-first hiring process inspired by the way they do things at Zappos.com. Here's his agency's 8-step hiring process
Direct download: 8-Steps_to_Hiring_Amazing_Digital_Agency_Talent.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 5 June 2019
Curious how to stand out and win more clients in the crowded agency space? Wondering how the big agencies got so big? For starters, stop being a "me too" agency trying to do what everyone else is doing. Stop trying to be what everyone is... you do you. We are always working on our weaknesses, instead of focusing on our strengths. Instead, we should focus on our strengths, leverage the weaknesses, and be a little bit of a freak in order to stand out. In today's episode, we'll cover:
Today, I talked with David Rendall — professional speaker, author, entrepreneur, and freak-enthusiast. David is incredibly passionate about the big-picture agency stuff. He shares what he calls the Freak Factor and his recipe for entrepreneurial success. This week alone David has traveled around the globe -- Dublin, Paris, London, and Egypt talking to businesses and entrepreneurs about one thing -- winning through uniqueness. Why Your Agency Needs To Be a Reflection of YouAs digital agency owners, we're prone to looking around for the best way to do things. It's part of our DNA. We like to be on top of the latest technologies and hottest trends in digital. But, when it comes to your agency's culture, outside is the last place you need to look. David says your agency needs to be a reflection of who you are. We throw the word "culture" around a lot but, culture isn't a hidden mystery; it just takes a solid look in the mirror. Virgin Mobile started off zany because Richard Branson is definitely zany! Walmart is all about logistics, inventory, and pricing — it's super practical because Sam Walton was super practical. Leverage your personality traits to create an agency you would want to work at and that alone will attract the right people. The culture will practically create itself once the vision and tone is set by you. Don't just create another "cool agency" — create something that helps you surround yourself with a like-minded team who will be an asset is carrying out your vision. What Is Your Agency's Freak Factor?Too many agency owners want to be like the big kids. They think they need to copy the big agencies in order to be as successful as one. Listen, Snapchat didn't just create a mirror copy of Instagram. They decided to do something new. Instagram is for showcasing images, so Snapchat took a different angle and made those images disappear. If the crowd is going one direction don't follow them. You'll find more success if you let them lead you toward your own, unique solution. David's advice is to find the gap in the market and then attack it. Don't just offer another solution like everyone else. Put your own twist on it, and offer a unique strategy for getting your clients the results they desire. 3 Reasons You Should Embrace Your WeaknessesIf you walk away from this podcast with one lesson, it should be this: work on your strengths, not your weaknesses.
Are You Looking for Outsourced Copywriting for Your Agency or Clients?Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more. Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter. Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.
Direct download: How_Being_a_Freak_Will_Land_Your_Agency_More_Clients.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 29 May 2019
Have you ever considered running a fully remote digital agency? Wondering the pros and cons of leading a virtual team? Like anything else, there are pluses and minuses -- and it can be hard to know if it's the right choice for you. One agency owner decided to ditch the office space in favor of running a remote business and she's not one bit sorry. In today's episode, we'll cover:
Today, I talked with Jordan Lacenski — Chief Innovation Officer and the main boss at BrandBoss Creative. Jordan is also the Co-Founder of SheWolf Collaborative, an online association for high-achieving women. Here's the crazy thing... she just recently ditched her office space to work from her home and she hasn't looked back. Working On the Agency vs. Working In ItBeing an agency owner can feel like a circus. You have to juggle clients' brands and marketing as well as your agency brand and marketing. So, how much time should you devote to your clients and how much should you devote to your agency? If you're the founder, almost all of your time should be spent on your agency. Here's why... You can hire people to handle the projects and clients. You can find someone to do taxes and finances. And, you can even have someone build killer processes for delivery. But, what you can't hire for is someone to define your brand. As CEO, you should spend your time working on your agency and not in it. In fact, you have 5 specific roles as CEO and setting the vision is #1 on the list! 3 Reasons to Ditch Your Office SpaceJordan has jumped the growing trend of agencies who are ditching the office space for an entirely remote agency. It may sound crazy but, it can work. While it's not for everyone and there are circumstances where it won't work, there's never been an easier time to work remotely. I had office space for my agency, which housed over 100 employees. But if I had to do it over again, I'd do a hybrid model with office space and work-from-home opportunities to offer my team a better work/life balance. Jordan gave us 3 reasons she ditched her office space:
It can be really, really great but, there's one massive con... Interaction among remote teams is very limited. This can lead to issues with agency culture, team bonding, and even branding. Plus, it can make agency team management a little more tricky. #1 Way to Inspire Remote Agency TeamsFinding ways to inspire a remote team can be tough, right? Regular video chat meetings are a must, but it really isn't the same as having them in the office. Daily engagement with one another builds camaraderie ...video chats are great for getting the work done, but most people are multitasking or focused on other things. What can you do? Have a few in-person meetings every year ~ quarterly or even semi-quarterly. But, you should try to get your entire team gathered into a physical location. This will help the team bond, spread some of your culture around, and create a better remote culture. 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: Considering_a_Virtual_or_Remote_Digital_Agency_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 22 May 2019
Do you have one mega client that would cripple your agency if you lost them? If you have a client that represents more than 40% or 50% of your total revenue, don't let them hold you hostage. Check out how one agency knew it was time to say goodbye and took a leap that helped build the agency he always wanted. In this episode, we’ll cover:
I’m talking to an agency owner who lost a mega-client and lived to tell about it. Jeff Conlon is the CEO of Ideas, Money, Art (IMA) the video marketing agency he started in 2004. He shares his story of actually walking away from a client that was over 50% of the agency’s revenue, and how that decision has helped him grow the business into what he’s always wanted. Why Walk Away from a $750,000 Agency Client?Do you have a big but difficult client you’re afraid to get rid? It happens to the best of us, right? We work hard to land and keep amazing clients, but sometimes we get backed into a corner where we need them more than they need us. That’s what *almost* happened with Jeff’s agency. Early on, IMA did a small project for a huge home services business worth over $100 million. That small project turned into a little SEO retainer and opened the door for them to work with 30+ franchises…. Well eventually, IMA was grossing $750K per year from this client. The agency always had other work, but this one remained more than 50% of their revenue stream. So, why would Jeff walk away from that kind of revenue? Over the years, there had been too much turnaround on the client side. After many years with one VP of Marketing, he retired and the position has been a revolving door ever since. The synergy was gone and could not be recaptured. Working with that client was more stressful than it was worth. When their contract came up for renewal, Jeff decided to walk away. The move was big, bold, and scary. But the agency has come out the other side and Jeff says it has been a huge relief. Of course, the downside was letting go of the account team dedicated to that client. But on the flip side, it forced IMA to work on their own business. They created their own lead generation system and developed a way to productize their agency services. And the new rule is… no one client can represent more than 20% of the agency’s revenue. What Does Productization Look Like for Agencies?With their newfound clarity and not wanting to be lumped together with all the other “full-service video agencies” (AKA “me too agencies”), Jeff and his team took a long look at their differentiating factor. That’s how they developed the Digital Marketing Quadrant. Instead of selling multiple services, IMA offers their Digital Marketing Quadrant as a strategy which paves the pathway for clients to achieve their revenue goals. Instead of offering tactics (SEO, PPC, etc.) the Digital Marketing Quadrant starts with a small engagement and then advances toward larger projects that lead the client toward their goals. Remember, your clients don’t care what you do, just as long as you get the results they want. Related: https://jasonswenk.com/seth-godin/ The Biggest Mistake an Agency Can MistakeWith over fifteen years in the business, Jeff says he’s made every mistake in the book. The biggest, though, was not understanding the value his agency provides and not going after clients who understand it. This caused major strife… despite the fact that the agency had been growing rapidly for 3 years, profitability was in the single-digits. (This gives me nightmares, btw!) At the time IMA was at nearly $2 million in gross revenue, yet Jeff’s income had flatlined and the agency’s margins were dipping. Why? The agency was in a growth phase, so of course, they were adding staff and paying out benefit but otherwise spending unwisely... That experience, of single-digit margins, totally cured him! Jeff’s sights are set on 20% profit -- which is still way too low, but at least he’s aiming for double-digits :)
Direct download: How_One_Agency_Lost_a_Mega_Client_and_Came_Back_Stronger.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 15 May 2019
Are you having trouble handling your day-to-day agency operations while also growing your digital agency? Looking for an easy solution to management issues? It might be time to hire a CEO. Wait. What? That's right - hiring the right support as part of your leadership team can actually help transform an owner's role enough to grow the agency easier and faster. In today's episode, we'll cover:
Today, I talked with Audra Brehm founder and CEO of Brehm Media — a social media agency with a focus on health and beauty brands. Audra is also a member of my Digital Agency Elite Mastermind and she's here to share some tips and strategies she has used to realize some amazing growth at her agency. She's one of the few agency owners who actually hired leadership a CEO for her agency. She's also a guru at social media and gives us some golden nuggets on using social channels to find agency new business prospects. Is It Time to Hire a CEO?Being an agency owner is tough... And, it's all much tougher when you're trying to handle everything yourself. The entrepreneur mindset attracts hustlers, movers, and shakers. We often think we can handle everything ourselves. But, the really smart ones hire and outsource for the things they don't enjoy or are not good at. That's what makes Audra such a smart cookie. She didn't love handling the day-to-day employee stuff, setting the culture, putting out fires, etc. Admittedly, it's just not her thing. As I like to say, "whatever you suck at - eliminate, delegate or automate." So Audra hired a CEO to handle all that stuff she doesn't enjoy and it's been a breath of fresh air. Now she can focus on things she enjoys and is really good at. Instead of constantly tending to crises, managing the team, or monitoring financials she has the space to grow the agency and take the business in the direction she wants, on her terms. Just because you're capable of doing certain things within your agency doesn't mean you should be doing them. There are ways you might be spending your time that could be spent more effectively, or more enjoyably. Celebrate your strengths and stop worrying about your weaknesses. The lesson here is to get out of your own way, leverage your strengths, and hire for your weaknesses. Why Your Agency Needs a Social Media StrategyOne of the biggest issues with social media is that too many marketers approach it without a plan. Audra says social media is actually more of a funnel. We should be developing a strategy with our social media that takes our prospects through the stages of the funnel. You have to plan ahead, develop a strategy, and constantly monitor results. Have a plan but also be patient and let the funnel do its job. 4 Steps to Creating a Killer Social FunnelAudra shared her 4 steps towards creating a lean, mean, conversion-machine social funnel.
We all know a lot of this, but we don't do it for ourselves as much as we do it for our clients. Treat your agency as well as you treat your clients :) Don't just execute without a strategy.
Direct download: Should_You_Hire_a_CEO_for_Your_Digital_Agency_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 8 May 2019
Wish you could eliminate the growing pains of running a digital agency? Wonder what pitfalls you could avoid if you knew in advance? With 3 big lessons from starting, growing, scaling, and exiting multiple agencies today’s guest shares a ton of knowledge on everything from business partners to building a team to merging with a bigger agency. In this episode, we’ll cover:
Today’s interview is with a four-time agency owner, William Harper who’s the CEO of WM Harper, and former owner of three other agencies which he has successfully grown and exited. It’s been a hell of a ride for William, so I’ve brought him on the show to share the lessons he’s learned along the way. Lesson #1 - Merging with a Bigger AgencyThe grass isn’t greener, but William says he and his partner learned this lesson the hard way. They took grew their agency (William’s first of four), Underground, lean and mean. They started winning industry awards and getting noticed. They were landing more and bigger clients, which got them noticed by other agencies. Eventually, an offer came from a 100-person agency, Eisner Communications and William's agency, Underground, merged with Eisner. On the outside, it appears that a merger will open new doors to resources and technology not otherwise available to a smaller agency. However, William and his partner quickly learned those big corporate resources come with a price. Underground lost the ability to be nimble with their clients and projects. Their processes were quickly changed, existing clients prices were increased, and the agency was forced to fit into a corporate mold. My advice is, do not merge with a bigger agency. If you do, keep your eyes wide open to what it will look like. The grass is not greener. If you’re looking for an exit strategy - just sell, don’t merge. Lesson #2 - Building an Agency TeamWhen William went on to build another agency, he took with him the knowledge of the former and decided to grow his team based on culture. Instead of hiring talent, he viewed it as curating people. Talent and skill are important, but he says his interview questions would also include things like:
We agree that hiring based on culture fit is more important than hiring based on talent. Specific skills are teachable, but matches of personality, values, and beliefs must be present from the start. William quoted a statistic that something like a mere 13% of people are engaged in their job. You need your agency team to reflect the 13%, not the remaining 87%. Lesson #3 - Bringing on an Agency Business PartnerI often advise people against bringing in a partner. As I say, “you either know the bad partner or you are the bad partner.” After about one year, I brought in a partner to my digital agency. And, over the years, William says he’s had great partners along the way in each of his agencies. But he too advises against it now that he’s been through a variety of scenarios. There are a few misconceptions about bringing on a business partner: 1- You need a partner in order to convince clients to work with you. FALSE. A partner does not provide instant credibility. You can be an authority on your own. Build your team based on values and you can count on the culture to provide checks and balances. 2- You need a partner to fill in your own gaps. FALSE. Surround yourself with people smarter than you in certain areas without giving up ownership. It is possible to get that yin and yang flow in your agency without a partner. 3- You need a partner to call BS when necessary. FALSE. A lot of agency owners wish they had a sounding board for making decisions. Instead of giving up a piece of ownership to a partner you can hire a mentor, join a mastermind, or create your own board of advisors. While it might seem like a good idea to bring in a partner, oftentimes issues arise when the partners need different things out of the company for different reasons.
Direct download: 3_Big_Lessons_from_a_Four-Time_Agency_Owner.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 1 May 2019
Are you looking for a creative way to reward your agency team? Ever considered giving your key employees a stock option? This can be a great way to incentivize and reward your loyal and hardworking team. The real key is to do it the right way so you don't lose ownership or control. In this episode, we'll cover:
Today, I talked with Matt Fickin, Sales Partner at Techwood Consulting, an SEO and paid ads agency. I love having salespeople on my podcast. They can help give agency owners a unique perspective. Matt's agency's culture is all about value. So, when it comes to providing employee value, he decided to set up a profit-sharing model. The more success employees achieve, the more money goes into their wallets. He's on the show to explain the benefits of using profit sharing to incentive your agency's team. How Profit-Sharing Can Boost Your ValueHere's the question — why should you think about profit-sharing? Let me ask you this: how do you currently motivate your employees? Is it your culture? Or, are you offering promotion incentives? Maybe bonuses? Hey! Those are all great! But, what if you could directly reward employees based on your entire agency's success? That means employees aren't getting rewarded based solely on their projects — the whole agency needs to succeed. That is baking success into your agency's DNA! It's a great way to get all your team members collaborative and accountable while spreading responsibility throughout the agency... when everyone succeeds, everyone wins. I'm not saying this will work for every agency model. And, you can definitely find ways to bake value into your agency without giving your employees a financial stake. But, it can help boost the team as a whole and incentive your key players. What is an ESOP and Why Have One?Matt set up an employee profit-sharing based on the ESOP model. ESOP stands for "employee stock ownership plan." Basically, it means giving employees stock as an incentive. So, the better the agency performs, the more money the team makes! When your agency's value increases, their wallets get fatter! Usually, an ESOP involves a vesting period. So, employees may not be able to cash out their shares until they've worked for you for at least 3 - 5 years. This means your most loyal employees are going to be benefiting the most. If an employee leaves, your agency simply purchases their stocks. It's cash for agency-wide wins. Matt also says that you can fast-track executive staff or key employees. In fact, you can even give execs partial ownership using the same methods — which I advise against. Even better, an ESOP comes with some pretty hefty tax benefits. You should definitely talk with your tax person first — these are going to vary by business, state, etc. Should You Be Offering Free Audits?Of course, I couldn't have a salesperson on the show and not ask about the sales pipeline. Matt says one of the best ways to get clients in the door is to offer up free audits. Sure, some of your prospects take your audit and do the fixes in-house or with another agency. But, by and large, most prospects are going to stick with you once you give them a free audit. If you establish trust up front and prove your authority with audit itself, there's no reason they'd need to look elsewhere. Audits are a great way to impress your prospects and help you get your foot-in-the-door. Now, a caveat here -- Matt admits that he doesn't offer free audits when clients want complex circumstances. But, you can figure out when and where a free audit would be appropriate. 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: Employee_Profit-Sharing_to_Incentivize_Your_Agency_Team.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 24 April 2019
Are you having trouble filling roles in your agency with the right people? Is your team having trouble building relationships with the client and each other? Building the right team isn't easy! Don't let your agency business suffer because of making the wrong hiring choices. Building a successful agency team might be easier than you might think. In this episode, we'll cover:
Today, I talked with Brett Sirianni — surfer, agency owner, graphic design enthusiast, and relationship builder extraordinaire. Brett and his partner own Social Supply Co. What originally started as a means to hit the beach when the surf was just right, developed into an agency that specializes in content, SEO, social and high-fives (+193,000.) Brett has built his successful agency team on the basis of effective communication, and he's here to share some insight so you can do the same. 4 Ways to Empower Your TeamWant to know how to create a team that develops robust client relationships? We all want to keep clients around longer and the best way is with solid communication. That's what builds relationships! People do business with people - so empower your team to be great communicators and you'll retain clients longer.
#1 Best Candidate to Hire for Growing Your AgencyWho works for free, wants to prove themselves, and tries extra hard to succeed? Interns! Here's a tip for hiring interns, though. Don't think of them as "free work." Instead, think of them as try-before-you-buy team members. You can see whether or not they have what it takes up close and personal. If you're looking to start an intern program, try local college campuses which are filled with quality candidates. These students are eager to learn and hungry for real-world experience. Talk to a department chair or administrator and let them know you want to help them with their programs. Then, follow through and actually provide a meaningful experience for the student while also making the relationship beneficial for you, too. Take it from me - intern programs can produce some of the savviest, hardest-working team members. Plus, you don't have to deal with team management logistics with interns :) Why You Need to Always Be HiringHere's a question. Are you hiring? Better yet, does your website say your hiring? Tons of agencies think they actually need to be hiring before they add it to their homepage. You don't! Putting up a "we're hiring" banner on your website (next to your logo works best) does two things...
Direct download: The_Secret_to_Growing_a_Successful_Agency_Team.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 17 April 2019
Do you wish you could future-proof your agency? Want to land more agency clients and retain them longer? The agency industry is ever-changing but you can create an evergreen marketing agency by going back to the basics. Some of the best practices from the Mad Men era still apply today! Check out these strategies from an agency founder who's been in the business since the 1980's. In today's episode, we'll cover:
Today, I talked with Peter Cimoroni — Founder and CEO of Razor Marketing with 3 offices across the country. Peter has been in the agency space for over 4 decades! It was a completely different world back then. So, how did Peter keep growing and scaling year-after-year? How does an old-school marketer survive the digital age? With strategy and persistence, of course... Why You Should Focus on the Client's Internal StorytellingAs an agency, you're a storyteller. We do that for our clients' brands all the time. Whether you do video, paid ads, or SEO or whatever the case may be; you're trying to tell the story of the brand. But, what about the client's internal story? All of those ads and SEO tricks help tell prospects a brand's story. But, who is telling their employees the story? Peter believes that not only does adding internal storytelling boost your deliverables, but it can be a huge boost for businesses. How can you package those video services to make them valuable internally? Sure, you shoot paid ad videos, but what about shooting internal team-building videos for your clients? If you can find a way to offer brands internal and external storytelling, you'll be able to service two of their needs and boost your bottom-line. That's a win-win! 2 Ways to Land Big Accounts and Retain Them LongerPeter's agency has 8 full time people and they don't hustle looking for new clients all the time. How? They have landed and retained some big clients that provide consistent revenue. Here are Peter's two biggest tips to score big clients and keep them:
The Best Way to Future-Proof Your AgencyPeter and I started our agencies in different eras of marketing but we both found ways to future-proof the business. So, how do you keep an agency growing strong for ten or event twenty years in the future? Persistence! I know, it sounds a little corny but, there are tons of strategies out there helping you become forward-thinking. The truth is, you don't know what's around the corner. You have to be willing to fail and keep going. Peter said he has learned more from his 6 startup failures than his 3 successes. The only real way to WIN is to keep at it. Sure, there may be times where throwing in the towel makes sense. But, if you can be persistent, you'll win eventually. Additionally, Peter says to re-evaluate your processes on an annual basis. Don't settle for the "this is the way we've always done it" mantra. Instead, check-on and improve upon your systems and processes every year. Chances are, as technology and team members change your processes will need updated as well. There's always a better, faster, easier way of doing things -- and that itself is a great way to future-proof your agency. Want to know where the agency industry is head? Check out our Future Outlook of Marketing Agencies in 2019 Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: How_to_Build_an_Evergreen_Marketing_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 10 April 2019
Are you struggling to compete with other agencies in your niche? Are you tired of losing new business to your competition? You can stand out if you learn how to disrupt status quo. You just need to get a little scrappy and start thinking outside-of-the-box. In today's episode, we'll cover:
Today, I talked with Jay Samit — serial entrepreneur, former VP of Sony, Vice Chairman of Deloitte, and best selling author. Oh! And he grew an agency from 0 in revenue to $200 million is 18 months. He's basically a superstar. And Jay's new book "Disrupt You! Master Personal Transformation, Seize Opportunity, and Thrive in the Era of Endless Innovation" is all about how you can create agency growth by being a little different. Why Your Agency Needs to Think DifferentlyJay talked about his experience coming into a marketing agency that had $0 in revenue and transforming it into a $200 million opportunity. How? He pivoted. The agency had a great idea, but they didn't know how to execute it properly. They had the framework of value exchange merchandising but didn't know what to do with it. Jay's idea was to offering value exchange merchandise for brands around the world. So for example, instead of paying for your in-game app currency, you could just watch an ad instead. Here's the crazy part. Within one year, the agency was charging advertisers $1,000 CPM! Maybe your agency has a great idea. And, maybe you're awesome at what you do. But, if you're not succeeding, it may be time to pivot. Don't throw the baby out with the bathwater. Think about how you can apply those same services and skills to a broader or more nuanced user base. How can you utilize what you already have in a different way? No way to do things differently? Try adding some unique services that set you apart! The Best Way to Achieve Agency Growth Fast!I've talked about niching in the past, but what about niching into an unknown space? If you can find a way to be the only agency offering services to a particular group of people, you're in the golden zone. Jay told a story about an agency owner going from homeless to $70k in his first month — and $1 million by the end of his first year. How did he do it? He found a market no one else was serving. Sure, niching can be a great way to get hyper-specialized. But, if you can offer services to a market no one is paying attention to, you'll have a huge advantage. Here's a tip... Research a couple niches you're passionate about and see if anyone else is serving them. Start searching for those unexplored opportunities. You never know what you might find. How Data Can Close More New BusinessAre you having trouble pitching? Can you get your foot-in-the-door, but you seem to have issues closing? Try putting data to work. You can tell a prospect anything. But, if you can show them substance, they're going to be interested. You may have a killer strategy and a great idea that will help that prospect rake in customers. But if you can back it up with solid data, you're more likely to win the pitch. Data doesn't lie. Think you can triple their ROI on Facebook? I believe you, but your prospects need more than just your word on it. Explain the plan, then show them how you can do it by sharing a case story and reporting data that backs up your claim. The better the data, the better your chances. Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: How_to_Disrupt_the_Status_Quo_to_Win_More_Agency_New_Business.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 3 April 2019
Are you putting out tons of material but your conversion rates are poor? Do you wish that you could stay a step ahead of the competition? How do you even begin competing in a saturated market like SEO? Don't worry! These questions are normal! Are you putting out tons of material but your conversion rates are poor? Do you wish that you could stay a step ahead of the competition? How do you even begin competing in a saturated market like SEO? Don't worry! These questions are normal!
* 3 of the best conversion tools. * #1 way to boost your agency's profile.
Direct download: The_3_Best_Conversion_Tools_for_Digital_Agencies.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 27 March 2019
Want some killer tips to help you scale and score more new deals? Check out how one digital agency owner jumped from landing an $18K project to a $500K project by having the right framework in place. And by learning the systems you, too, can attract ideal clients who can pay what you're really worth. It just takes the right mindset and a solid growth strategy. It's all about doing more with less, hiring smart, knowing what to say 'no' to and attracting the right clients. In today's episode, we'll cover:
Today, I talked with Dean LaGrange founder of LaGrange Digital the Facebook ad agency he grew from the ground up. Dean bought the Agency Playbook and he's been absolutely killing it with his agency. Dean actually applied the strategies in the Agency Playbook and shared this story with me about going from an $18k project to a $500k project. I knew I had to get him on the podcast to share this same story with my listeners so you know what's working. #1 Person to Hire FirstFor new agency owners, trying to decide on your first hire can be scary. Don't worry! It's easier than you think. Here's the secret. Hire someone who is good at either:
To figure out what that something is, you need to do a self-audit. Really look at yourself as an agency owner and figure out what you're good at and what you need a little help with. Then, hire the person that's going to give you that help. It could be sales, another marketer, someone who's good with finances, or anyone else. Getting Clients to Pay What You're WorthI'm not going to lie -- there's a plug here -- but NO, I did not put Dean up to it :) He says he knew he had good processes in place, but also was self-aware enough to know what he doesn't know. The agency was "making it" but he realized what was missing what a mentor or adviser with the experience and knowledge to do what he was trying to do. That's when Dean decided to invest in my Agency Playbook so he could learn how to find clients, what to charge, how to position the agency, and most importantly how to determine the value of the agency's services. After going through the Playbook, Dean took a proposal that he was going to charge at $18,000 and increased it to $500,000 because he better understood his agency's value. And, BOOM! And folks, that was within 3 days of purchasing the Agency Playbook. The real lesson was that Dean learned clients are willing to pay a premium when you can demonstrate the value of your services. He just didn't know exactly how to connect the dots for them - until now. 3 Ways to Make Your Agency More MarketableNew agencies are prone to the infamous client drought. You don't have the testimonials or street cred to back yourself up yet. So, how do you make your agency appealing to new prospects?
How to Grab Those First Agency ClientsIf you looked at that last section and thought "I get it, but where do I actually find clients?" I've got news for you. They're everywhere! Dean walked around the business district of a neighboring town and asked business owners door-to-door if they needed help. I've heard for owners who have sent emails, talked to family friends, gone door-to-door, and even some that pick up the phone. TIP --> When you're looking for those first few clients, you need to do outbound. Inbound marketing will be your bread-and-butter once your agency is steady. But, outbound marketing can scale... fast! Even better, a advise a three-fold system of inbound, outbound, and strategic partnerships to make sure your pipeline stays constant.
Direct download: How_One_Digital_Agency_Jumped_from_18K_to_500K_Projects.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 20 March 2019
Are you trying to grow your agency by offering anything and everything your clients could want, yet still feel like it's not enough? The solution starts with knowing what you do well and what you don't. You could actually grow easier and faster if you are self-aware and start cutting back agency services. It seems counterintuitive but it's a strategy that is working right now. In today's episode, we'll cover:
Today, I talked with Bryan Phelps, CEO of Big Leap — the SEO agency he founded in 2008. Bryan started off building websites for paintball gear as a teenager and slowly grew from a one-man startup to an SEO agency with a team of 70. Bryan is here to tell us how he grew his team and why cutting back on service offerings actually helped his agency soar. How to Decide Who to Hire FirstDo you handle the entire day-to-day of your agency? Are you the Ops, Sales, and Dev team? If so, stop! I know it can be difficult to let go of the reigns. You feel like hiring employees will make your life harder - there are people to manage and payroll to meet. But trust me it doesn't have to be that way. Not only are employees able to handle some of those tasks, but they can bring skill sets that you don't have. Outsourcing and hiring are one of the first steps towards successful agency ownership. Real growth begins when you are self-aware enough to know your strengths and hire or outsource for your weaknesses. Here's a great question: who should you hire first? A salesperson that can help you fill your pipeline? A project manager who can manage the details of your clients and projects? Or, maybe another creative to help you push out assets? Here's the answer: it could be any of the above. You need to figure out which role will help you the most and then move on it. We all have weaknesses. Bryan and I agree that you have to identify yours and hire someone who can help you in that weak area. I was always great at sales, but I wasn't the best project manager. So, I hired one - it's that simple. Side note: a lot of agencies I work with seem to have issues with agency salespeople. It can be difficult trying to find an agency salesperson who has the skills to both curate prospects and close deals. Guess what? (Shameless plug coming...) My partner and I developed SalesPipelineAccelerator.com so you can outsource the finding, hiring, and training agency salespeople. The 3 Phases of Agency GrowthBryan says his agency went through three major phases (so far) in their growth trajectory. Here are the milestones he identified: 1- Doing It All - Starting out is tough. When you first start your agency, you're handling everything yourself. This is the headache stage. You have to handle sales, ops, creatives, etc. You're working a ton of hours and wearing many hats. It's hard but necessary. 2- Having Enough Help - This is the stage when you are at about 10 employees. You have enough team members that you can finally start to hand over things over, but you're still pretty well involved in the daily operations. You're still working on projects and handling clients, but you've got enough help that it feels more manageable. 3- Changing Operations - With a solid team in place, you can really put the business under a microscope. You can look at internal things like company culture and get really focused on core values. But you can also look at your service offering and figure out which areas of business are crushing it and which ones aren't. When you do that, you might start cutting some of your service offerings. Why Cutting Back Services Helps Agency GrowthWhy would you cut back service offerings in order to grow? Here's the thing - you can't be awesome at all the things. If you're new, you may be trying to do everything. You want to be the one-stop-shop for every clients' needs. That's okay. You can try to do that -- at first. But, if you've noticed that you've started to slow down in your growth, it may be time to choose one thing and get really laser-focused on being the best. Specializing or niching can be a great way to boost your growth fast. For example, Bryan's agency grew 20% in two months after he stopped providing PPC ads. Why? Because he could hyper-focus on SEO. Specialized surgeons bring home the bacon for a reason. People want to work with the best in a given category. Be the best in your category. You may want to develop strategic partnerships with another agency as Bryan did. He sent them his PPC business, and they sent him SEO business. That way, both agencies benefit from the partnership.
Direct download: Why_Cutting_Back_Agency_Services_Will_Help_You_Grow_Faster.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 13 March 2019
Get ready for some amazing insight from Seth Godin, the father of permission marketing. He dives deep into branding your agency, determining value, niching down, and so much more! There’s a ton of value here to help you grow, scale, and enjoy your marketing agency. In this episode, we’ll cover:
It is my distinct honor and privilege to interview Seth Godin on the show. Like so many in the industry, I’m a huge fan of everything Seth had written and I’m so inspired by his wisdom. I think just about everyone knows him, but in case you’re the one person who doesn’t… :) Seth Godin is an author, speaker, entrepreneur and most of all, a teacher. He has written 18 best-selling books, including This is Marketing and Purple Cow. Seth has also founded two companies, Squidoo and Yoyodyne (acquired by Yahoo!). He’s motivated and inspired entrepreneurs and marketers around the world. What’s the Future of Marketing Agencies?There’s an old school definition of an agency where they bought the ads for brands and created the ads they’d place. These agencies earned a percentage of the ad spend and charge a fee for the creative elements. But, Seth says, twenty years ago that agency model started to shift. At the early stages of the internet boom, brands no longer needed agencies to buy ads or create them. Beginning then and even truer today, Seth believes agencies need to be advisors to brands. Clients need you to help make their products or services better. Agencies have the ear of the CEO. Therefore, the future of agencies lies in building that relationship and being the liaison between the CEO, the other departments of the business - like engineers and other creators, and the consumers themselves. Related: The Future Outlook for Marketing Agencies in 2019 Using Pricing As A Differentiating FactorA lot of agencies tell me they watch their competition and then charge slightly less, and that’s their strategy for staying ahead of the competition. My advice is always: don’t make lower prices be your differentiating quality. Seth agrees and shared a story about his 1995 business venture “Get Rich Click.” While Yahoo! was selling clicks for $2.00, Seth was selling them for 50-cents. He says he knew he was only going to be successful until someone else started selling them for 49-cents. You know what happened? Yahoo! bought them and eliminated the competition. Friends, you cannot grow your agency if you’re racing to the bottom! What’s the Difference Between a Logo and a Brand?Are you building a brand, or is your agency just a logo? Seth talked about the difference between a brand and a logo using his example of Nike and Hyatt. He asked if Nike started a hotel chain, could you envision it? Yes, of course. But if the inverse were true, and Hyatt created an athletic shoe, could you envision it? Not so much. The difference is, Nike has built a brand. Consumers know what they stand for and believe in. So anything and everything Nike does, their customers know what to expect. Hyatt has built a chain of hotels, but their name and logo may as well be interchangeable with others in the industry. They don’t represent or stand for anything specific. So - while growing your agency, be clear on what you stand for and convey that message to your audience. This is what will build your brand and help your agency stand out. 2 Steps for Agencies to Determine ValueSeth says we have to get away from the “more and better” mentality. Meaning, stop thinking about getting more clients as your way of being better than the competition. If all you want are more clients, then your worth is tied to how busy you are but if you really want to be better then there are two questions to answer when determining worth:
Seth says you have to be the one and only… if you’re no better than the alternative, then you’re not worth more than them. It's that simple. Why Agencies Need to Select a NicheSelecting a niche does not mean serving a small audience, it means serving a specific audience. Seth believes it’s super important and here’s why... The web is not mass media. We think it is and we treat it like it is, but it’s not and users aren’t using that way. We act like there are infinite possibilities when marketing on the internet, but that’s just not true because people are online searching for very specific information. If your message is too broad you can’t and won’t be found. As I like to tell agencies, marketing toward one niche does not mean turning down work from clients outside your niche. It just means you’re laser focused in one specific niche and aiming all your marketing toward them. Let’s be clear -- you will not miss out on any business if you become a leader in your niche. Truth is, you’re already missing out. Seth says “you have to figure out how to be missed when you’re gone by the smallest group that can support you.” That’s when you’ll have clients knocking on your door and they’ll bring their friends. What Clients Really Want from AgenciesA large part of the reason people make purchase decisions has to do with status. Seth believes decisions are based on preserving or improving status. So, what your clients want from their agency provides some version of status. “Change doesn’t happen without tension” ~ Seth Godin Therefore, your content marketing needs to create tension in order to inspire change. Seth believes we need to create content that grabs attention, builds trust, and turns on permission marketing. The trap many fall into is making it all free, all the time. The key is giving just enough free content to make them realize you know your stuff! Related: How to Quit Losing Clients by Knowing What They Really Want Leverage Your Strengths to Win ClientsAgencies can use the network effect to create change. Essentially, the network effect occurs when an increased number of people improve the value of a product or service. Seth believes marketing agencies are in the perfect position to create a network effect through their relationships with brand CEOs. He says the system that built our economy and our culture is changing forever. You must invest the time to understand the system and learn what’s necessary to create a product or service that spreads. That’s how your agency will be successful and significant. Seth references a sign he saw when he was speaking at a Walmart event many years ago. The banner read: You Can’t Out-Amazon Amazon Walmart knows its strength is low prices. They know Amazon’s strengths too. And they know they can’t compete with Amazon. So instead of trying to “out-Amazon” the competition, they’re continuing to do what they know they do well. Know your strengths. Know your weaknesses. Recognize what they are, what they aren’t, and what they can’t be. Stop working on your weaknesses - just go be the best in the world at what you do well.
Direct download: Seth_Godins_Advice_on_Growing_Your_Marketing_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 6 March 2019
Looking for a way to add tons of value and increase services to your agency clients? Have you considered adding video as a service but not sure where to begin? Adding video can seem overwhelming but it doesn't have to be. With the right processes and systems, you can dive headfirst into offering video services to your clients with minimal investment. Learn how to seamlessly transition to a video offering so you can help your clients share their case stories. When they sell more and you sell more - it's a win-win. In this episode, we'll cover:
Today, I talked with my good friend Ian Garlic. Ian runs a successful video marketing agency, authenticWEB, hosts his podcast, The Garlic Marketing Show, and consults on video shoots — now there's a trifecta! :) Ian has worked with big names, big businesses, and traveled internationally on shoots. Ian is on the show to tell us how existing marketing agencies can easily offer video marketing as a service. He's sharing the ins and outs, as well as tips and strategies to make sure you're successful right out of the gate. Video Can Help Build Better RelationshipsWe ALL want better client relationships. When you welcome an awesome new you create a killer campaign, and then... what? They walk out the door and never come back. Or they move onto another agency that can do more of what they need. Offering a complementary service, like video, is a way to keep those clients around longer. Here's the great thing about video content. It's permanent. Facebook strategies shift, Google's algorithm changes, and those CRO strategies go out-the-door when the next big buzzword hits the scene. But, all videos — they aren't going anywhere. You can shove that video content into any other strategy, and it's universally understood. Clients love video content because it's evergreen. When you start pitching video content, you really have to understand your clients. What's their story? Why are they here? Once you sit down with them for a strategy session and really get to know them, they're going to stick around because you get them. They won't run off to the next agency that shoves a cooler, better strategy in their face because video is video. Why Video Service Doesn't Require Huge Upfront InvestmentI know what you're thinking. You don't have the time, resources, or people to start offering video. You're wrong. It's a lot easier than you think! Ian says you really only need one videographer and a solid strategy. The rest of the stuff - copywriting, editing, etc. - you can outsource. When Ian started, he didn't hire a team for video production; he hired a videographer and outsourced the rest. How did he do it? He had a process! You have to have a system in place that tells people what they need to get done. Without a system or even the right checklists, you'll likely be scrambling to get everything done, and you'll unknowingly let things slip through the cracks. 3 Video Marketing Strategy Tips
How to Sell Video to Your Existing ClientsHow do you actually get those clients to pull-the-trigger on your new video service? Put everything in perspective. Ask them this: "How much is one lead worth to you?" Flip their mindset from looking at video as a cost to looking at it as an investment. If they're a service-based business, one lead may be worth a thousand dollars... up to ten thousand. Once they think about the ROI for a second, they're going want 20 videos. If those videos only score them a few leads, they're still going to come out on top. The same thing works for non-service clients too. Have them think about the entire process in terms of ROI. They're going to see video as an expense. However, you need to sell it is as an investment by pointing out the benefits of this evergreen, multi-use content. Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: How_Your_Marketing_Agency_Can_Add_Video_As_A_Service.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 27 February 2019
Are you trying to figure out how to scale your agency? Do you want some killer agency growth tips? Finding clients can be tough, especially if you don't yet have a salesperson or team in place to land more clients. But, if you play your cards right, you can skip some of the typical growing pains in order to grow and scale faster. In this episode, we'll cover:
Today, I talked with Kirk Deis, co-owner of Treehouse 51 and creator of proprietary software Bugsquasher. Kirk started off building Tumblr sites, ghostwriting, and grinding in the freelance world. Three years ago he finally decided to make the jump from freelancer and started his own agency. Like all new agencies, he learned some tricks along the way, and he credits is business for mentoring him along the way. Today, he shares a ton of great tips for breaking those first barriers. 3 Ways to Reel in More New Agency ClientsWondering the best ways to build trust and authority in the market? Capturing prospects' attention can be tough in the beginning. Here's how you can reel in your ideal clients by building trust and authority.
How to Know When to Hire a SalespersonI get this question a ton. When do you hire your first salesperson? Kirk hired his first salesperson at the $500k mark. But, honestly, it's not about when you hire your salesperson, but how. Most agency owners think they can be the sole salesperson, and there are some that can (like Kirk, for example). But, having a dedicated salesperson is the best way to truly scale as well as fill your pipeline. If you're the founder and owner then it's hard for you to focus solely on sales. That means when you are focused on sales, then sales are great. But when you're pulled into other areas, such as delivery, then sales suffer. If your agency is suffering from big ebbs and flows of sales and the owner is the one handling sales, then it's probably time to hire a salesperson dedicated to that role. Here's the thing. Don't just hire a salesperson and then tell them they have to sell your way. Give them the freedom to sell their way. Here's the trick. Define the outcomes, not the strategy. Maybe start them off with just selling your foot-in-the-door offer, then you could assist with selling the next project. The key is to assist, not dominate the whole process. If you start trying to force salespeople to work within your parameters, you'll end up with a terrible experience. #1 Way to Capture Client's in the BeginningIt's less about what you've done and more about how you do it. So don't worry about a solid portfolio, just nail down a great process. You don't have to show off your previous work; you need to explain what sets you apart. Sit your prospect down and tell them why your process is better than your competitors. Do you make websites? What's your process? How is it better than your competitors? Why do your sites convert better than other agencies? If you don't know, figure it out and then point it out to your prospects! Clients want to know why they should choose you. They don't want your secret sauce ~ they just want to know you have one :) That great looking portfolio may get your foot in the door, but your process will convert! Here's the thing about your process, it must be fluid. There's always a better way to do things. Your agency should be that better way. If it is, your prospects will notice, and they will definitely be interested. 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: 3_Ways_to_Reel_in_More_New_Agency_Clients.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 20 February 2019
Would you like to win more clients without the pressure of selling to them? Would you like to know how to improve relationships and build authority? Stop wasting time, energy, and resources by networking. Instead, leverage media to help you win more agency business without constantly selling. Learn some great growth hacks through the art of preselling. In today's episode, we'll cover:
Today, I talked with Steve Gordon, Founder of Unstoppable CEO. Steve works with professional services firms to help them convert more prospects through the art of preselling. Steve hates the traditional networking grind (so do I!) So, Steve is a big fan of prospecting for clients through mediums like podcasts and video. Here's here to share some valuable advice on building relationships and authority so you can land more business without selling. Why You Should Start Interviewing OthersDo you want to build authority fast? Start interviewing prospects to help you grow your community of followers. Steve is a big proponent of recorded client interviews. What's a recorded interview? Well, podcasts are for one! Why is sitting down with an expert guest so valuable?
Why You Should Start Being Interviewed by OthersThink interviewing clients is the only way to build credibility and scale your network? Nope. It works both ways. Get yourself booked on other shows where your ideal clients are listening. Not only does this get you out in front of a new crowd of potential prospects, but you're also building relationships with the interviewers. That's a double whammy. Being a guest on a podcast is easy! Just offer their viewers valuable content by speaking on topics that solve one of their pain points. If you have value to share, there are podcasts out there looking for you. Try the reciprocating tactic where you have a guest on your show and then ask to be on theirs. Everyone is always looking for new content - all you need to do is be relevant. #1 Hack For Selling More to Your Ideal ClientsIf you want to stay a step ahead of the competition, you have to build a relationship with your clients. They need to know you're the real deal. So, how do you do that? Let them get to know you. Be genuine. Whether it's smart, funny, charming, blunt, thoughtful, sarcastic... you be you. It doesn't have to be interviews, or videos, or podcasts — it can be whatever medium you want! Just make sure you're sending it to your prospects and putting it on the platforms where your prospects congregate. My YouTube channel and podcast have built relationships with my subscribers. They feel like they know me even when I've never met most of them. Think about it this way. When you listen to your favorite business podcast or video, is it because you view them as an authority? Of course! They're the king of the castle because they have the keys to the front door. With media (think webinars, YouTube, podcasts, etc.) you can position yourself however you want. Plus, when clients watch or listen to your content they get a feel for who you are and you've got a better chance of resonating with them.
Direct download: How_to_Win_More_Agency_Clients_Without_Constantly_Selling.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 13 February 2019
Are you struggling to keep your agency employees? Tired of spending time training team members who leave too soon? Employee retention is one of the hardest parts of running an agency, and one of the most important parts of growing. Learn how you can keep your employees happy, fulfilled, and ready to grow right along with you. In this episode, we'll cover:
On today's show, I talked with Tommy Chenoweth the Senior Director of Team Development at January Digital — a full-funnel marketing agency. Tommy spends his time focusing on the talent pipeline, which includes retention practices. Tommy's been with January Digital for many years, but as the agency has grown his role has become critical for their future success. As they've gotten bigger and hired more employees, Tommy's onboarding and retention practices has helped them gain serious momentum. Why Your Agency Must Dominate Employee RetentionEmployee turnover is a major pain, right? Onboarding and training are expensive and time-consuming. But, beyond the hassle, employee attrition has some serious agency-wide consequences. First, when someone leaves your agency it may make pique the curiosity of your other employees. They will wonder why they're leaving... Are they getting paid more? Working on better projects or clients? Getting better benefits? Those are all the questions your employees are asking themselves when others leave. Second, it's nearly impossible to sustain growth when agency employees are always jumping ship. When the focus is on constantly training new employees, responsibilities get shifted and client relationships suffer. Finally, and this is the big one, your clients are going to notice. When an employee leaves the team, the client starts to wonder why. Even worse, when a new employee joins the team, no matter how well you onboard and train interally, the client feels like they're starting all over. 9 Ways Your Agency Can Boost Retention
5 Steps to Creating an Employee Development MapTommy has created a development map to ensure each employee has a clear path for progression. Here's how you can, too:
Direct download: How_To_Dominate_Agency_Employee_Retention.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 6 February 2019
Do you have a qualification process for agency prospects? Do you know when to turn away a bad prospect? How do you know if a client is a good fit for your agency? Turning away clients isn't easy, but turning down a bad prospect may just save you time, energy, and your sanity! In today's episode, we'll cover:
Today, I talked with BJ Enoch, VP of Enterprise Accounts at SocialSEO. BJ knows a thing or two about turning clients down because he’s learned the hard way. SocialSEO has 100+ employees and manages a ton of clients. So, BJ is the perfect person to give us all some client rejection insights. He's a 6-year SEO agency veteran with a knack for spotting bad clients. From early mistakes to time travelers, BJ gives us real, practical advice for avoiding bad agency prospects. When Should Your Agency “Swipe Left”?So honestly, I had no idea what “swiping left” meant until a few weeks ago (because I’m happily married!) So, for those who don't know, swiping left is when you decide to “reject" an uhhmm... "prospect" on the dating app Tinder. The app gives users different profiles photos and you can swipe left to get rid of the profiles you think are a bad match. We've all dealt with bad clients a time or two but you know you don't have to! In fact, telling a prospect NO may be one of the best ways to grow your agency. If your agency is newer and you’re in need of the cash flow, you're probably going to take every job that comes your way. It gives you tons of experience and allows you the opportunity to make some mistakes. But, if you've been in the industry a while and you know exactly who help, then it's time to start saying "no" to the wrong projects and prospects. BJ says to ask yourself some questions before you take on a new project. If the answer to any of the questions below is no, run away! Ask yourself:
5 Big Client Mistakes to Avoid
BJ left us with one great example of a bad agency prospect when he decided to “swipe left” on a prospect who wanted a website built for time travel business (?!?). Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: When_Should_You_Swipe_Left_on_Bad_Agency_Prospects_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 30 January 2019
Want to fast track your agency's growth trajectory? Are you looking to push your agency to the next level? Start thinking ahead and planning in advance for anticipated growth. Dig into your financials, loop your team in and get there faster when everyone's on board. In today's episode, we'll cover:
Today, I talked with Ted Kohnen, he is the non-founder president of Retina — a global full-service agency with a deep technical foundation. The agency brought Ted in as their President as part of their growth strategy, which makes him the perfect person to talk growth! He's here to share growth tactics and strategies that you can apply in your agency right now. How to Get into the Growth MindsetWhen you're looking to grow, start by looking at your balance sheet. Most agency owners come from the creative side or the account side, not from the financial perspective. Usually, agency owners hire a CFO and get right back to being creatives. Stop! If you really want growth, you need to understand your financials. Ted says you can get your hands dirty by paying attention to two main factors. 1. The near-term... This is your receivables, expenses, and cash flow. Understanding your near-term financials will help you manage your agency tighter. You know when and where you need to cut back and which business processes you need to find a way to automate or outsource. If you can see the bulk of your expenses, you can really start to dig into what your financial pain points are. 2. The long-term... This is your future expenses such as expansion, opportunity, and headcount. These are things you should be planning out when you're looking closely at those near-term financials. The sooner you start creating a financial strategy, the sooner you can start growing your agency when the time comes. Pro Tip: Let your CFO know your long-term plans. If they don't know, how can they help you get there? CFO insight and buy-in is key to getting where you want to go. How Much Cash Reserves Should Your Agency Keep?Every agency needs to have some cash in the reserves, but how much is often a point of contention. Luckily, Ted's here to save the day. Ted recommends keeping 6 months in the bank. To do this, you need a deep understanding of your pipeline. Just like you need to learn your agency's financials, you need to be hyper-vigilant in learning what your pipeline looks like. Now, some of you may be saying, "We're fine! We have like 7 months worth of cash flow in media spend!" Stop right there! Don't mix your operating expenses with your float! Make sure you're storing them in different accounts. If you rely on media spend for operating expenses, you're going to get burned. What's a Healthy Agency Profit Margin?Ted said (that's fun to say) a healthy profit margin is around 20%. Now, you may remember my podcast with Mark Asquith who quit his agency at a 50% margin! But, that's not typical. Anywhere from 15% to 20% is a healthy margin. If you're over 20%, you may be neglecting research and development (employee education, culture, tech stacks, etc.) If you're under 20%, you need to start crunching those number! Remember, it's your responsibility to understand your financials, don't rely on your CFO. If you're within 10%, you may be fine. But, if you're operating at a 5 - 10% margin, you need to pivot! #1 Way to Make Sure Your Vision is Being ImplementedOne of the hardest parts of running an agency is trying to make sure your employees are on board with your vision. Ted says he took Sheryl Sandburg's advice from her 2013 book, "Lean In." And that advice is to make sure you take time to walk around and talk to your team (high-level to entry level.) Engaging your team in casual and easy conversation can ease their concerns and lets you know share your vision. This isn't a formal "town hall meeting" nor is it schedule or have an agenda. He says to get to know your people on a personal level; which gets increasingly more challenging as your staff size increases. Make sure to foster those relationships outside of the office as well. Get your team involved with a charity and let them volunteer during paid work hours, or take everyone to a sporting event. Ted plays bubble soccer with his team! Whatever works for you, your team, and your company culture. Just be sure to engage with your employees and make sure you're all carrying your vision forward. If you notice a particular employee doesn't seem to share your vision, don't put off the inevitable. Be Purposeful with Your TimeTed left us all a tip before he hopped off the podcast — look at requests for your time through a sharply focused lens. Don't just take every meeting that comes your way. If someone wants your time but it's not related to growth, employee culture, or client delivery, don't give it to them! Do you know the 5 roles of an Agency CEO? Spending time getting to know your employees is way more valuable than that meeting about a new CRM that you don't need! Are You Looking for Outsourced Copywriting for Your Agency or Clients?Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more. Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter. Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out. |
Wed, 23 January 2019
Do you struggle to find the right employees? Would you like to retain the amazing employees you have? What about the R&D tax credit that got one agency $150K? Employee retention and acquisition doesn't have to be a headache. And, agency expansion concerns don't need to keep you awake at night. With the right culture and the proper hiring methods, you can find those hassle-free employees and keep them around. Plus, when you train and develop their skills, you could be eligible for a major tax credit. In today's episode, we'll cover:
Today, I talked with Dobbin Buck, who's living the dream at his agency GetUWired. Not only is Dobbin a super passionate agency owner, but he also gets to spend his days working from a cabin-turned-agency nestled at the foothills of Blue Ridge Mountain in Georgia, USA. Dobbin has over 40 team members now, and he shares his experiences with hiring and retaining those employees — as well as how his agency landed a whopping $150,000+ tax credit. 3 Biggest Employee Onboarding Red FlagsFinding, hiring and onboarding employees is tough! I've talked to tons of agency owners who don't want to grow due to concerns of hiring and managing a large team. Increasing your headcount doesn't have to be super stressful if you pay attention to the warning signs and you can filter out those potential trouble employees. Here are 3 signs that someone may not belong at your agency: 1. They don't jive with your culture: This is huge! Your agency's culture defines the business. If you have a cultural misfit, it may be time to have a talk. Things like this are fairly obvious right away, and it might be an easy fix either with a conversation or by cutting someone loose. It's way easier to change someone's skill-set than it is to change their personality or comfort level 2. They chase the carrot too hard: Having an employee that goes the extra mile is great! Who doesn't want that? But, if you're interviewing someone who seems to only care about the hustle, you might want to reconsider. They're going to get burnt out faster, and they may be too focused on work to really get to know your business and your culture. Remember, employees need some time off work to build critical relationships. 3. They don't think outside-the-box: Dobbin said he includes a problem in his hiring process that isn't solvable without outside research. If the employee comes back and complains that they didn't receive enough material, it's an immediate red flag. Make sure you're hiring people who can take the reigns when they need to. Here's a link to his 10-step hiring process mentioned in the interview. #1 Most Important Employee Retention ToolCompany culture is everything. Your culture is the gas in the tank. When you offer an amazing agency culture, your employees will stick with you. In addition to culture, avoid those red flags above and a build a team who shares your vision, which will help keep them around. In today's climate, team members have so many options. There are thousands of agencies hunting for great talent, so it's key to use your culture as a #1 driving motivator. Your company is the one major differentiator you have against other their other options. Pay is great, but when team members know they are part of a bigger plan and they work with people who share that vision, they're going to stick around. Does Your Agency Qualify for a Big R&D Tax Credit?Dobbin talked about how he got a tax credit recently for a whopping $157,619! Now that's a tax credit! The R&D tax credit — officially "the Credit for Increasing Research Activities" — is for experimenting with technology with a qualified purpose. Most agencies qualify, so if you're not trying to capture that R&D tax credit, you're missing out! Dobbin said he hesitated for a long time before finally making the jump and working with a tax firm to apply for it... It looks like it paid off! If you want to know more about the tax credit, I did a podcast with a tax specialist - check it out here. Are You Looking for Outsourced Copywriting for Your Agency or Clients?Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more. Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter. Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.
Direct download: Does_Your_Agency_Qualify_for_a_150K_RD_Tax_Credit_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 16 January 2019
Feel like your agency is stuck or reached a plateau? It happens, whether you're just starting out or in business for many years. Don't get frustrated or settle for the status quo. Instead, it might be time to get back to the basics, get scrappy and get creative. With the right strategy, mindset, and persistence you can make some tweaks that help you jump that next hurdle and reach a new level for your agency. In today's episode, we'll cover:
Today, I talked with Colton Bollinger founder of JumperMedia.co, an Instagram marketing agency. Colton started out in 2016 providing free Instagram marketing services to some buddies and golf instructors. What started out two years ago as a solopreneur-venture has grown now to include two partners and a team of 44 employees! How Working for Free Can Really Pay OffColton got really scrappy in the beginning, which meant bootstrapping his business and executing unconventional ideas. One of those ideas was to work for free and develop case stories. Sometimes giving away your services for free can actually help you grow. It seems counterintuitive, but that's exactly what Colton did and he says it was a major key to his early growth. He started by offering his Instagram marketing services totally free. Instead of making his clients pay, he asked them for video testimonials. These videos performed better than just a written testimonial and served as organic, value-adding references. He says his "clients" were more than happy to record testimonials to help him grow and succeed since he'd delivered them great results for free. How to Execute Outbound SalesBeyond his inbound leads, Colton knew he had to execute on outbound sales too. He started out by cold calling and sending super specific direct messages to prospects. (Kinda like Joey Gilkey suggested with his LinkedIn outbound strategy.) I always recommend a 3-pronged approach to prospecting -- inbound, outbound and strategic partnerships. That way when one channel dries up you can still scale and grow with the other two. Hyper-specific, highly targeted messages are critical. Don't be generic with a copy/paste message. Be unique, different and personal. Do your homework and point out what they're doing right and where they could use improvement. The more personalized you can make your outreach efforts the more of a payoff you'll see from them. Related: How to Find and Train an Agency Sales Rockstar #1 Most Important Agency Growth TipGo back to the basics! Here's the interesting thing about agency owners, we're all pretty similar in skill and knowledge. Most of us are just hustling to grow and scale their business the best way they can. But, if what you're doing is not yielding the results you want then it might just require one minor tweak. It's like a pro golfer (Colton was one!) or tennis pro (I was one!) who knows all the intricate moves and complex strategies of the game. But sometimes they just need to go back to tweaking their swing and BOOM! Seriously! Find little areas for improvement or small things that you can do differently. Those micrometer differences may be exactly what you're missing. It's almost never some giant thing that needs fixing -- it's usually a small tweak. Why You Should Re-Think Your BillingCash flow is king... Don't settle for the old "the check's in the mail" excuse! Colton said automating their billing and setting up recurring billing was one of the most important things his agency has done. Think about the way you're billing customers and look at ways you can improve cash flow such as:
There are so many tools out there, Colton likes Moonclerk and Stripe recurring. Instead of waiting for the check to come in the mail, you can spend that money on client acquisition and grow at accelerated speeds. Reconsidering your billing options may give your agency the growth boost it needs. Are You Looking for Outsourced Copywriting for Your Agency or Clients?Verblio is a content creation solution designed specifically for agencies. Their writers can help with everything from blog posts to ebook to video scripts and more. Forget the hassle of finding and hiring your own writers. Verblio has a pool of more than 3,000 highly vetted writers who produce custom, SEO-rich content. You set the criteria for style and tone and they match you with writers that have expertise in your specific subject matter. Verblio's platform is designed specifically for agencies -- and for a limited time, they are offering my audience 50% off your first month of content. My team is using Verblio and loving it, so make sure you check them out.
Direct download: How_One_Agency_Got_Scrappy_and_Grew_to_6_Million_in_2_Years.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 9 January 2019
Do you hate writing client content? Or struggle to find writers who can match tone, style and use industry-specific language for your clients? Do you never have time to create agency content because you're so busy with client work? There's a better way! Creating content doesn't have to be difficult and finding the right writers for your agency doesn't have to suck. If you avoid the biggest content creation pitfalls and figure out how to hire the right writers, you'll be creating rankable content in no time. In today's episode, we'll cover:
Today, I talked with Paul Zalewski, VP of Marketing at Verblio — a content creation platform specifically for agencies. Paul experience spans from phone marketing to SEO and everything in between. Soon after taking the leap to digital marketing he was ranking #1 on Google for "stop junk mail" and helping businesses get high SERP. Today, he's working with Verblio to bring content to agencies around the world and he's here today to share strategies for ramping up your agency's content creation. 3 Biggest Content Creation PitfallsOver time, Paul's seen some common pitfalls in content creation when agencies make while working with clients. 1. Not doing your homework. Make sure you pour through their existing content and really define their tone, style, and the types of buzzwords their niche uses. There's a big difference between a tech(y) blog that's informative and filled with block-style paragraphs and a quick-burst super casual tone, like mine. Make sure you hone in on the way your client wants their content structured. 2. Set expectations. This is huge! Content creation is an ongoing process. Your clients are going to have to be involved sometimes, and they need to understand how content ranking works - we know you don't jump to the #1 Google spot overnight, but do they know that? Education is huge. 3. Set up long-term success. Align your agency's goals with the client's goals. What does success look like to both parties? Everyone needs to know what the process looks like from start-to-end. This means you may have to explain some SEO functions to your clients and you have to make sure you're both using the same metrics to define success. How to Set-Up Your Writers for SuccessWhether your agency handles content in-house or outsources it, finding a way to communicate your goals to the writer can be tough. At Verblio, all of Paul's writers are required to do a ton of research before they tackle client projects. Any time you're hiring in-house or outsourcing your content creation needs, make sure that your working with someone who is willing to put in the time and energy. Writers need to be able to really think about the skeleton of the work they're creating (intent, CTA, tone, style, etc.) and being able to communicate those goals to the writer will set you up for success. Paul has hired over 3,000 writers in his career, and his most important qualifier is: writers need to be able to write for digital. You want to know that your writer has some skill, can make boring content engaging, and has some expertise in your subject matter. Is it easier to teach a writer to be a marketer or a marketer to be a writer? Neither! Hire one that knows both. 5 Types of Content That Own SEOWe know you might already know this... but what's ranking best these days.
With that said, you can ignore #1-4 if you've already found the high ranking content that works best for you and/or your clients. Make content that works for you. Don't stress over following all these lists of "Top Tips" or you just might end up with best practices overload!
Direct download: How_to_Avoid_the_3_Biggest_Content_Creation_Pitfalls.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 2 January 2019
Is your agency profit where it should be? (Hint: net profit should be at least 30%) Are you constantly struggling with cash flow? Do you always pay yourself last, or not at all? Solve all these problems and actually enjoy running your business again when you apply the principle of Profit First. In this episode, we'll cover:
We've got a repeat guest today, Mike Michalowicz who is an entrepreneur and the author of six business growth books. I had him on the show previously talking about his book Clockwork: Design Your Business to Run Itself. Then recently, we used his Profit First theory as a workshop in our Agency Mastermind and I knew I had to get him on the show again. Mike got his start as an entrepreneur who was very successful very early in his career. His early success led him to other investment opportunities which left him feeling unstoppable and invincible. He had multiple homes and expensive vehicles... but, in hindsight, his own ego and arrogance got in the way. He says he never had a real pulse on his business finances and little care to know any details his accountant shared with him. So, in 2008 he had no idea his businesses were failing until his accountant called to tell him it was time to declare bankruptcy. Within a month he and his family if five lost their cars and homes. After a couple years of feeling sad, sorry, and insignificant Mike decided to become an author writing about his experienced with a new goal to eradicate entrepreneurial poverty. What Agencies Are Doing Wrong With Their CashflowTypically, agencies (and for that matter, all businesses) are doing a bank balance accounting method. Your accountant tells you to look at income statements, P&L statements, balance sheets, etc. which can get mind-numbingly boring. And all you care about is the bottom line, right? That's because we're trained to think: Sales (minus) Expenses = Profit And that "bottom line" is your profit. So that's where your attention is focused because that's what matters most. But Mike challenges us by asking, why is the thing we care most about falling to the bottom of the list. Think about it. Don't we always put the most important items at the top of our list? It's backward and wrong that profit is just considered "what's leftover" after everything else. Why Businesses Should Put Profit FirstMike's formula for putting profit first is important because it means you are making money. It's human nature that the goals we put first are the ones we get done. That's why so many people work out in the morning. What comes first is what gets done. Look, as a society, we are always asking other business owners "How big is your business?" and that's because we care most about revenue. But, you can have a huge business and not be profitable at all. What we should be asking is, "How healthy is your business?" So many agencies are living check to check. They're most concerned with top-line revenue instead of profitability. But when you get into a situation where you can't pay vendors or worse, can't pay your employees does topline revenue even matter? No. Putting profit first flips the formula: Sales (minus) Profit = Expenses 3 Basic Steps of Putting Profit FirstI know what you're thinking and it's a little more than just pulling profit out first. 1. Stop making excuses and give it a shot. We know it's difficult to get on board with trying something new. We're all are used to handling our business accounting the way we've always done it. And so Mike says there are 3 general excuses people give for why they can't implement Profit First.
2. Open multiple bank accounts and segment your money. Most business owners are habitual bank balance checkers. Admit it, you're checking at least daily, maybe even hourly. So in Mike's book, he spells out his process which includes opening 5 different accounts all dedicated to different things (profit, taxes, etc.) That way, when you're checking the balance you're looking at money that is earmarked for a specific use and not looking at one lump sum. 3. Start slow and ease yourself into the discipline of profit first. It's hard to undo the way we've always looked at business accounting. So, don't expect that you'll be able to pull out 30% profit right off the bat. At first, the goal is to break old habits so start by pulling 1-2% profit from every check that comes in. It's like someone who decides to run a marathon, they train by starting slow and building up to the marathon. For example, if you receive a $1,000 payment and you put 1% of that into a separate account for profit, that's just $10. If you can pay your expenses and run your business on $1,000 surely you can run it on $990 and you won't even miss that $10. Start slow and build that "profit muscle."
Direct download: How_Your_Agency_Can_Make_More_Money_by_Putting_Profit_First.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 19 December 2018
Are you having problems hiring or firing your employees? Ever feel like your team is holding back agency growth? Hiring and firing employees doesn't have to be difficult. Don't worry about firing your less-than-perfect team members as your agency grows; it's best for both of you in the long run! In today's episode, we'll cover:
Today, I talked with Shantel Khlief CEO at Image Media Consulting, who has an absolutely incredible story of how she discovered her passion for marketing through pie! Shantel is one of those people who was born to be a marketer. She got her start when she couldn't find a local pie shop's menu on Facebook. Later, she stopped by and offered to grow the shop's social media presence... and then like many of us, an accidental agency emerged! Shantel shares some fantastic tips on employee hiring and firing, which is one of the most challenging aspects of growing an agency. #1 Reason You Should Fire That One EmployeeEvery agency encounters a team member who's just not making the cut. Maybe you feel a sense of loyalty toward a long time employee. Or, maybe you simply can't bring yourself fire someone because you like them as a person (but dislike their work). Or, maybe you're afraid of the impact firing will have on your clients and the rest of your team. Here's what you should do: fire them! Letting someone go may be precisely what they want (or need.) If you feel like the employee isn't working hard enough, doesn't fit your company culture or values then firing them may kickstart both of you. That employee will go on to do something new, and your other team members will respect you for it. Remember, you're the owner. You have to set the example. If you're still hesitant, think about it this way. Would you rather fire them or lose your good employees because of them? How to Scale With Your EmployeesWhen your agency starts growing it's typical to run into some employee friction. When you start out with just a few key team members, you're all friends. You grab coffee together and talk shop regularly. But, when that number balloons up to 20+ suddenly you've gone from friend to boss-friend. Roles change and sometimes perceptions do not, which can cause friction. Look, it's perfectly ok to change the playbook as your agency grows. The more employees you're dealing with, the more difficult it becomes to please everyone. Sure, those loyal employees may be a little disappointed at first, but change happens. And, the good ones will understand how to help scale the agency to the next level. 3 Key Team Management Tips1- Do more coaching. As your agency grows, your employees' perception of you will change.. You may think they will come to you with any problem, but they may think you're too busy. Coaching is a crucial piece of employee management. It's a way to set expectations, deal with inconsistencies, and get employees pumped up. 2- Rethink your bonuses. Stop giving your employees bonuses at specific times. Give them out randomly. For one, it makes them appreciate it more. But, it also reduces any pain points caused by changing bonus structures. Once you hit the $1 million mark, you may have so many employees that high bonuses aren't as realistic. My podcast with John Ruhlin completely changed the way I think about bonuses. 3- Fire the toxic employee. Seriously, I know it's hard. But, as Shantel explains, it has to happen in order to grow. Stop worrying so much about what everyone thinks of you and put your goals and your agency first. The right move isn't always the most popular one. Do you know the 5 Roles of the Agency CEO? This is where you should be focusing your time, energy and efforts.
Direct download: How_to_Get_Over_the_Hurdles_of_Agency_Team_Management.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 12 December 2018
Happy holidays from JasonSwenk.com and our entire agency tribe. We hope you never have to deal with these 12 Days of a BAD client project, but if you do ~ we hope this helps you get through it. 12 STRESSFUL DAYS OF WORKING ON THE WRONG CLIENT PROJECT... On the first day of the project, my bad client gave to me, On the second day of the project, my bad client gave to me, On the third day of the project, my bad client gave to me, On the fourth day of the project, my bad client gave to me, On the fifth day of the project, my bad client gave to me, On the sixth day of the project, my bad client gave to me, On the seventh day of the project, my bad client gave to me, On the eighth day of the project, my bad client gave to me, On the ninth day of the project, my bad client gave to me, On the tenth day of the project, my bad client gave to me, On the eleventh day of the project, my bad client gave to me, On the twelfth day of the project, my bad client gave to me,
Direct download: THE_12_STRESSFUL_DAYS_WITH_A_BAD_CLIENT.mp3
Category:general -- posted at: 2:00pm MDT |
Wed, 12 December 2018
Struggling with creativity for marketing your agency? Looking for ways to increase subscribers and opt-ins? In today's creative-driven landscape is now easier than ever to thrive. Don't let uncertainty or mental blocks get the best of you. Take some actionable steps that will cement your creativity and transform it into results. In this episode, we'll cover:
Today, I talked to Jeff Goins, founder of GoinsWriter.com and author of several popular books — including Real Artists Don't Starve — who also teaches online classes and hosts events. He's not just a writer. Jeff is a writer that fell in love with marketing. After working at a non-profit for years, Jeff's writings skills and entrepreneurial spirit led him to a life as an amazing creative. Today, Jeff's going to share some juicy tips straight out of his new book. It's Time to Try the One Thing You've Been IgnoringYes, that thing. You know the thing. It's that chatbot you're afraid to implement, or podcast you're afraid to start, or the video marketing you've put off. Sure, you've got plenty of excuses to avoid that thing, but you it's time to stop ignoring it and get it going! We all have strategies and tools available to us. And yet we all have excuses for not trying them out. Whether it's because we're positive it won't work or we think that it's just a fad, all of that head trash (link here) can prevent you from doing the one thing that could be the catalyst for change and agency growth. Jeff tried blogging for 9 years with a very little following. In fact, it took 4 years to reach 250 subscribers. But, when he offered a free ebook as lead magnet to his new blog — he jumped from 70 subscribers to 1,000 in just one month. Why? Because he simply tried his thing. Jeff says he thought lead magnets were just marketing mumbo-jumbo. But when he got out of his own way and tried it out, he found major success. Here's my challenge for all of you this week -- identify one thing and go do it! #1 Most Important Creative TipWhy do you create content? Is your agency simply trying to convert leads to clients? A lot of people think content is for selling. If that's you, then you need to 180 the way you're thinking. Content must provide value. This is especially true for blogs and video creatives that are hitting top-of-the-funnel prospects. Jeff says to think of content as a mutual gift to your audience. You give them valuable, free content, and in return, they give you their attention. Don't just focus on conversion metrics. If you give them value, they will come. All of those prospects who don't buy anything now could end up being more valuable than you think. Give them fresh content, and they may just become brand evangelists on social media. Remember, marketing is more complex than lead metrics —and word-of-mouth is still powerful. 2 Rules for Creative Agency OwnersJeff gave us a little sneak peek into his newest book where he shares the 14 rules for creatives to thrive. Here's 2 of them: 1. Steal from everyoneHere's the thing about originality, it usually produces terrible results. It's OK to steal from your influences. Are you creating a new blog? Go look at your competitors and your heroes. Guess what? They looked at their competitors and their heroes! Study what your peers are doing and use what's valuable to you. Don't just say "I have to do everything differently!" Or, as Steven Jobs (quoting Igor Stravinsky) said "Good artists copy, great artists steal." This doesn't mean you should plagiarize. It means you should pick a few of the all the great things other people are doing and morph them your own. 2. Live a portfolio lifeYou have to be fluid to survive in the creative world. Sticking to one thing may be a great way to market your agency as a niche to clients, but when it comes to being creative, you have to adapt. Think of the creative world as a mutual fund, not a single stock option. Tech is moving too fast and times are changing too rapidly to get caught up in one style or content type — you have to move with the tides. To do more than just survive you have to be continually creating and innovating. Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial. |
Wed, 5 December 2018
Are you stuck in a rut? Feel like your agency isn't going anywhere? Are you full of strategies but lacking in execution? Ever feel like you're stuck on an endless hamster wheel? It might be that you're in your own way and it's time to dig a little deeper. Your biggest obstacle might be all the trash in your own head. A change in mindset and thoughts can be a critical step towards growing your agency. In today's episode, we'll cover:
Today, I talked with Erin Pheil founder of MindFix — a group dedicated to eliminating self-sabotage in entrepreneurs and high-performers. Before she founded MindFix, Erin spent 16 years hustling at her own digital agency, FollowBright, so she totally gets the struggles of agency life. She's here with a wealth of experience and savvy techniques to teach us how to overcome our own mental barriers. Once you get out of your own way, you'll be on a better trajectory to grow your agency faster and easier. What Is Head Trash and Why Is It a Problem?There are tons of agency owners out there who have the strategies and the resources they need to become hyper-successful, but they just can't seem to get there. Too often we look towards the latest-and-greatest strategy as a growth pillar but when it doesn't work we get frustrated. Instead, Erin says we should be looking inward at the stories we are telling ourselves. What negative talk or stories are you telling yourself?
All of these stories we have in our heads are what Erin calls head trash. Basically, head trash is the loops and patterns we fall into due to previous exposure to situations. All of these stories impact the way we deal with our every day and often times causing turmoil. For example, let's say you used to work at a call center and you had one of those robotic scripts you had to say on every call. You couldn't stand the script; you felt it was turning away customers because it was so poorly written. Fast forward to today. You run a marketing agency and you're considering using a chatbot as a pre-qualifier for new leads. You have the resources and the strategy, but you don't pull the trigger because you believe scripted conversations aren't effective for gaining new customers. That is head trash. Head trash is the stuff that stands in our way -- and it's the stuff we can actually control. It's so much easier to overcome than we realize, but most of us don't even know or understand why it exists. Head trash can cause your agency to stall, cost you clients or stand in your way of fulfilling your profession or personal potential. 3 Ways to Take Out the (Head) TrashHow do you clear all of this programming out of your head? 1. Stop and Think! Next time someone does something that doesn't sit right with you, think first instead of reacting. Why are they doing this? What are some reasons for this behavior? Are there external circumstances that may cause this? Once you learn how to think about every possible scenario in your encounters with others, you'll also begin to think about your own behavior in this same way. You'll be able to dissect your own hang-ups and understand the underlying stories you're telling yourself. (From the earlier example... Why don't you like chatbots? Is it because of that call center experience? Bingo!) 2. Think Neutral. You want to remove emotion from your decisions. If you start to feel emotion when you're making a decision that should be rational, try to figure out why. There's a root cause of every emotion; if you want to remove the head trash the key is getting to the bottom of the emotion. 3. Don't Jump to Conclusions. This is huge! Preconceived notions can kill a good idea before it even launches. For example, don't assume your chatbot won't work before you even test it. Don't be afraid to try, test, or fail. Failure is the key to future successes. If you're jumping to conclusions all the time, you have some serious head trash you need to deal with. Want to learn more about becoming your own mental garbage man? Erin has a FREE 60-minute learning session here. Check it out. Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: How_to_Get_Out_of_Your_Own_Way_and_Grow_Your_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 28 November 2018
Wish your agency had better account management? Want to learn how to increase client satisfaction and reduce churn-rate? It might be time to take an inward look in order to up your game and improve agency account management. When you and your team communicate more effectively with your clients, you will turn them into your biggest fans. In today's episode, we'll cover:
Today, I talked with Karen Hayward a Fractional CMO at Chief Outsiders — the largest fractional CMO firm in the US. Karen works with CEOs and helps brands build growth strategies. She's an expert on account management, which is an area where we see a ton of growing agencies struggle. This episode contains crucial information that could be a real game-changer in your agency's client relations and retention. How to Build a Deeper Relationship with Your ClientsMeaningful client relationships are churn's kryptonite. The faster (and better) you build a relationship with your clients, the less likely they are to jump-ship. After all, leaving a faceless brand is far easier than leaving an agency that you have nurtured a strong affiliation with. So, how do you build a deep-level relationship? Karen says it's all about aligning your values and your client's values while leveraging your human assets. So, let the people in your agency get to know key members of your client's team. If you have a relationship that exists on multiple channels, you will suffer less when you hit those road-bumps. Make sure your team and your client's key employees (CEO, CFO, CMO, marketing director, etc.) build a relationship while agreeing on performance metrics. We talked about relationships a ton when Joey Coleman, author of Never Lose a Client Again, was on the show. Bottom line, be certain you and your client have the same end-goal in mind as well as the same definition of success. The Most Effective Way to Communicate With ClientsFiguring out how and when to communicate with clients is a huge headache for startup agencies (and lots of mature agencies as well). When are you bothering your clients? Some clients probably prefer not to communicate with you at all, right? Karen suggests you communicate with your top clients quarterly. Even if everything is fine - and especially if everything is fine. Don't make communication about sales. Ask them for feedback and learn what your clients really want by asking them. Hear them out, reassure them, and take action before there are issues. A great way to get off to a good start is to send new clients Net Promoter Score (NPS) surveys after the first 30 days! You can send them these surveys quarterly as well. You can take all of these Net Promoter Scores and see what kinds of trends your agency is having with your client. This gives you some great insight and also takes care of sheltered client concerns they may not be openly sharing with you. Top 3 Account Management TacticsBefore she left, Karen left us with a few great tactics we can all try out.
Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: Do_You_Need_to_Step_Up_Your_Agencys_Account_Management_Game_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 21 November 2018
Do you want to turn your agency's clients into raving fans? Would you like to retain more clients instead of just procuring more? Here's how to make your clients first 100 days noteworthy enough to turn them into advocates. In today's episode, we'll cover:
Today I talked to Joey Coleman, a professional keynote speaker, consultant and author of "Never Lose a Customer Again". Joey has worked on client retention with brands such as Hyatt Hotels, Deloitte, and even Zappos. He is a master of retaining clients and transforming them into raving fans. And that's why here's here with advice on how to keep the clients you have while simultaneously transforming them into advocates for your agency. What is the 100-Day Problem?As a marketing agency, we pour tons of time and resources into customer acquisition. Whether it's social media, sales strategies, content curation, or even email marketing, we focus tons of effort on turning prospects into customers... but then what? According to Joey, anywhere from 20 - 70% of customers (depending upon your industry) don't make it more than six months. And of those, nearly 90% won't make it past the first 100 days. All of that time and all of those resources, wasted. That's the 100-Day Problem and we all encounter it whether we realize it or not! Fortunately, we have Joey giving us some critical advice on keeping clients and turning them into our biggest fans, with the ultimate reward of referrals. 8 Phases of the Client Lifecycle and Keeping Them HappyJoey defined 8 key phases of the customer's life cycle, plus he gave us some fantastic tips on keeping customers happy at every phase. Check out his First 100 Day Starter Kit.
3 Quick Tips to Turn Clients into Raving Fans
Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: How_to_Turn_Your_Marketing_Agency_Clients_into_Raving_Fans.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 14 November 2018
Are you ready to make the jump and start your own agency? Do you want to the top 3 struggles of starting an agency? Don't let those startup agency jitters get you down! Get scrappy, and be picky! Also, learn about how Facebook Messenger Marketing and chatbots are going to change the future of agency lead generation.
Today, I talked with Molly Pittman who owns and runs Digital Strategy Boot Camps, co-hosts the Perpetual Traffic podcast, and was a former VP of Marketing for DigitalMarketer. Molly brings some incredible startup agency insights as she started Digital Strategy Boot Camps a little over a year ago. We get down to the bare bone fears of starting an agency and her best advice for avoiding and overcoming the top 3 struggles of a new agency. Is it Time to Start Your Own Agency?One of the most challenging aspects of starting your own agency is knowing when to actually start one. After all, that you're probably really comfortable (but maybe unfulfilled) in your current gig. So is it time to start your own agency? The answer isn't really clear. According to Molly -and I agree - you just know when you know. It's one of those internal things that drives you. We're all creators, and when it comes time to set out and create your own thing, your gut will do the talking. You know yourself best, so you're going to be the one that decides when it's time. Are there risks? Sure! Are there rewards? You better believe it. 3 Biggest Startup Agency StrugglesMolly talked about the 3 biggest struggles she faced when she went out on her own. Trust us when we say these struggles are universal. You will encounter these when you start an agency, but you can manage them if you're aware in advance. 1- Project Management: When you first start your agency, you're going to have to learn how to juggle multiple clients requests at the same time. The squeaky wheel method is probably going to take over, and you'll either be servicing the loudest or the highest paying client first. That's natural. Here's a great tip from Molly. She has a notebook that she organizes everything she has to do for each client for the week (emails, meetings, work, etc.) This way she knows what she's walking into, and she doesn't leave clients in the dust. 2- Client Alignment: When you first open your agency's doors, you want to take all-comers. It will give you some great experience and give you the foot-in-the-water that you'll need at the beginning (oh, and the money!) Once you get to the point where you can pick-and-choose your clients, you can start making sure your client's values align with yours. Molly's big tip here is to work with clients that you get along with. Picture yourself in the airport next to them — would it be miserable or not? 3- Setting Expectations: Client-agency expectation misalignment is a run-of-the-mill problem. Your client wants more than you think they do, and you thought you agreed on terms they didn't actually want. It's crucial for you to sit down with your client and set expectations. Go over the metrics with them, and introduce specifics early on. #1 Most Important Tip for the Future of Facebook MarketingSince Molly works a ton on Facebook, I couldn't help but ask her what she sees Facebook after the Cambridge Analytica stuff... Her biggest tip is to create content that's more engaging. As Facebook returns to newsfeed values, it's rewarding the ads that get the most engagement. Facebook wants to see users interacting with ads. The best way to get engagement is to be authentic. The best ads are less salesy and offer more (free) value. 3 Reasons To Implement Facebook Messenger MarketingSince Molly's also a guru on Facebook marketing, we talked about the new landscape of the platform, as well as Messenger Marketing. When done right, Facebook Messenger and chatbots can drastically change your lead generation strategy. Here's why:
Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: How_to_Avoid_the_Top_3_Struggles_of_Starting_an_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 7 November 2018
Looking for ways to get your agency noticed by your ideal clients? Do you want to stand out among the competition? Then it's time to understand and amplify your agency's talk triggers. With the right strategy, you can conquer word-of-mouth advertising and get your ideal clients talking about your agency. In this episode, we'll cover:
Today, I talked with Jay Baer founder of Convince and Convert, and (if you've been living under a rock) he's also an amazing content marketer, speaker, and author. He is also one of my favorite show guests because he's always got fantastic agency growth advice! This time, Jay is here with a lot to say on word-of-mouth advertising as well as what he calls Talk Triggers, which you can use to stand out from the competition. Why You Should Be Doing Something DifferentJay talked about why agencies should be doing something unique and different. It's a noisy space and it's difficult to stand out among the competition even when you're the expert in your niche. Instead of simply falling back on your expertise, do something! You have to be proactive in your word-of-mouth, and one way to do that is to take everyday things and do them differently. Putting a unique twist on something ordinary can generate a ton of buzz about your agency. Jay gave an example of sending your proposal at the bottom of a sheet cake. If you got a proposal at the bottom of a sheet cake, wouldn't you talk about it? That's a perfect example of what Jay calls a talk-trigger. 5 Types of Talk TriggersJay identified 5 of these talk triggers, which he works with clients to improve. You don't have to use all of these (that may be overkill) but you should attempt to have at least one thing that you do differently than other agencies. Here's Jay's list of his 5 types of talk-triggers.
#1 Word-of-Mouth TipIf you're trying to figure out how to create your own talk triggers and you just can't seem to figure out the best strategy, try this... ask your clients! Jay recommends sitting down with your clients (new, old, and former) and ask them what they expected at every point in their buyer's journey. Let's take proposals for example. They'll probably say that they expected to get a PDF of your proposal via email (which you better not be doing unless you present it in person first!) Whatever it is they expected, do something different - try the sheet cake thing, maybe? :) The most important thing is that you do something your customer doesn't expect and that will surprise and delight them. What Is Your Agency's Triangle of Awesome?Jay talked about understanding your clients. Too many agency owners and workers spend the vast majority of their time at their desks. Marketers like to think they know customers better than anyone, but that's usually not the case. Jay recommends running talk-triggers by your triangle of awesome — which consists of marketings, sales, and service departments. You want to get ideas flowing in from every direction and collaborate to come up with the best talk-triggers possible. Get those marketers, salesman, and customer service employees in the same room. Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: How_Talk_Triggers_Will_Have_Clients_Knocking_Down_Your_Agencys_Door.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 31 October 2018
Worried your agency will collapse if you're not constantly working? Wish you could lead your agency without working 24/7? Feel like you sacrifice too much of your family and free time for your agency? Stop being a prisoner to your agency! This pace isn't the best way to run your agency. And maybe your agency doesn't actually need you as much as you think it does. In this episode, we'll cover:
Today, I talked to Mike Michalowicz author of six business growth books, including Profit First Book and his latest, titled Clockwork. In this new book, Mike attempts to disrupt the hustle and grind mentality that has taken over modern small businesses, especially marketing agencies. Instead of working 24/7, Mike wants you to work less, get more done, and change your entire work mentality. Why You Need to Get UncomfortableHustling for the sake of hustle is not the way grow your business. If you've been hustling non-stop for several years and you haven't gotten anywhere, it's time to change your strategy. You've slumped. Too often, agency owners think if they just work hard enough it'll pay off. But this hustle hard mentality isn't going to cause burnout and a sense of defeat. Mike says you have to get uncomfortable. Put yourself out there and make a change. Hire new employees, delegate more of your responsibilities onto others, try to position employees in ways that disrupt your day-to-day. Even something as simple as trying a new software may be the kick-in-the-butt you need to get out of that constant grind. There are 5 roles of an agency owner. If you're doing anything outside of them, consider ways you can delegate, automate or eliminate it. Stop doing things you suck at or don't enjoy! 2 Ways to Drop the Hustle and Grind1. Hire owners.If you're having trouble getting your agency employees to act like owners and take on the responsibility necessary to help you run your agency, hire people who will. Mike suggested hiring people who had the ambitions of owning an agency one day. Even if it's just a side gig, having people who understand the mentality it takes to run an agency is critical. 2. You do you.Stop reading those "10 Lifestyle Habits of Highly Successful People" articles and get in touch with who you are. Agency strategies (and especially lifestyle strategies) aren't just one size fits all. They have to meld with you and who you are. If you're not authentic, your agency is going to suffer. So when you hear Gary Vee tell you it's all about the hustle -- maybe it is, but maybe it is. You do you. Don't lose yourself in your agency. Don't be a prisoner to it. Remember, you started the agency to support your life. Not the other way around. #1 Most Important Delegation TipWhen it comes to delegating employees, Mike has a critical tip. You want to assign the outcome. [clickToTweet tweet="Delegate the outcome rather than the specific task. You'll be amazed at how your team responds to this method, and how much freer you feel, too. " quote="Delegate the outcome rather than the specific task. You'll be amazed at how your team responds to this method, and how much freer you feel, too."] Standard "delegation" usually works like this: "Jamie, can you go and work on that proposal for me?" This style of delegation, or assigning specific tasks to each employee is worn-out and results in you being stuck answering tons of questions. You end feeling like it's just easier to do it yourself rather than entertain so many interruptions. Instead, Mike recommends assigning an outcome instead of delegating a task. So, instead of saying: "Jamie go work on that stack of proposals." You should say: "Jamie, can you make sure that those proposals really reflect the value we bring to our clients? You got this!" You want to turn your employees into decision makers. Give them permission to do their best job and make decisions that benefit the agency. So, if Jamie has another question, tell her to go with her gut and choose the option that best reflects the vision and goals of the agency. Delegate by the outcome rather than the specific task. You'll be amazed at how your team responds to this method, and how much freer you feel, too! Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: How_to_Grow_Your_Agency_Without_Constantly_Working_In_It.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 24 October 2018
Is your agency having difficulty standing out? Want to get attention from strategic accounts or high profile clients? Looking for better ways to improve client retention? Getting prospects' trust, recognition, and loyalty doesn't have to be complicated. Giving the right gift to the right person at the right time is a gesture that goes noticed and rewarded. In this episode, we'll cover:
Today, I talked to John Ruhlin, founder of RuhlinGroup, an expert gift-giving agency. He also, quite literally, wrote the book on giving gifts. This is my favorite books of all time (which is really saying a lot since I rarely read!) Giftology: The Art and Science of Using Gifts to Cut Through the Noise, Increase Referrals, and Strengthen Retention is John's book, and he's on the show to share strategies in order to score big clients, build business, and gain trust with clients. How to Send Gifts That Your Clients Want to ReceiveWhat gift does that CEO of the company that your agency has been chasing really want? Great question! You should go figure that out. John talked about the time he wanted to connect with Cameron Herold (yes, that Cameron Herold,) so John called Cameron's assistant and asked for his shirt size. What did he do next? He went to Cameron's favorite store — Brooks Brothers — and purchased shirts, jackets, pants, and all kinds of Brook's Brothers swag. Then, he literally outfitted Cameron's entire hotel room in Brook's Brothers stuff and made it look like a showroom. Cameron was so impressed at the thought and consideration behind the gift that he agreed to a meeting with John. It's not about the gift itself, but rather the meaningful gesture. So, next time you're looking to impress a client with a gift, don't just purchase something expensive for them — purchase something that they love and add an element of surprise. 4 Things You Should Never Send to ClientsSending gifts is a great way to win over clients, increase referrals, and build critical relationships, but some gifts may be doing more harm than good. John talked about 4 things that you should never send to clients.
John teased that he actually had 10 gifts that he thinks are bad gift ideas. Get them all here. #1 Group of People To Gift ToLet's say you want to nurture a relationship with a CEO with gifting. Should you send your gift to him? Not according to John. You should send a gift to his wife, kid(s), pet(s), or assistant(s) instead. You want to make everyone around him a sales advocate. Think about it. That CEO gets tons of gifts all the time, but his wife or his assistant doesn't reap the same benefits. A $1 investment in his wife is like $200 investment in him. Bonus: When Not to Send Gifts!Don't let your gift sit next to 500 other gifts. There's a reason John never sends gifts on Christmas, birthdays, anniversaries. No matter how great your gift is, you don't want to be competing with 50 other people. Suddenly the gift you poured your heart into is now lame. Also, don't send someone a gift after a referral. You just boiled your entire relationship down to a monetary value. Send them gifts when they aren't expecting them — not when they are - and add an element of surprise. Remember the scene in Christmas Vacation where Clark bring his boss a gift? Unimpressed and ungrateful, his boss tells him to add it to the stack with all the others. Ask yourself what gift would provide unexpected thought and creativity... then execute. Don't be a Clark! Movie image courtesy of Warner Bros. Entertainment Related: How to Retain More Agency Clients & Increase Recurring Revenue
Direct download: How_to_Use_Gifts_to_Win_and_Keep_More_Agency_Business.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 17 October 2018
Looking for ways to improve your agency's long-term growth? Ever felt like throwing in the towel because the agency grind was just too much? It might be time for a gut check on whether you need to hustle harder or move on. So, check out these insights and actionable strategies from an agency owner that up-and-quit his $1 million agency with over 50% net profits, so he could chase a different dream. In this episode, we'll cover:
Today I talked to Mark Asquith who is a founder over at PodcastWebsites.com. Mark moved onto podcasting from his agency that he dissolved (without selling) that was operating at over 50% net profit! Mark left the agency he created to start chasing his dreams creating SaaS for podcasts. We talk about why he left, how anyone could possibly leave such a successful agency, and why agency owners need to be podcasting. Let's dive right in! Should You Call it Quits or Hustle Harder?Mark's former agency was operating at almost 60% net profit and filled with high ticket clients. How in the world can anyone leave that behind without selling it? Mark left because, well, he got bored. We all get bored at certain points with our agencies. Whether it's because the market is in a strange space that we're unfamiliar with, or it's because we have to deal with another sales pitch, running an agency has its ups and downs. So, if you're tired of the grind, how do you know it's quitting time? When should you stop and when should you shift your position? For Mark — who wanted to do SaaS for podcasts — what he wanted to do wasn't something that he could position his agency to do without disrupting its standard practice. He was tired of the sales pitch (who isn't?) so, instead of hiring a sales manager and delaying the inevitable, Mark decided to just jump ship and do what he was really passionate about, which didn't include running an agency By not selling his agency, he got to keep all of those client relationships he had developed, and use them to consult on the side. Did he make the right decision? Mark made the right decision for Mark! Only you can really know if quitting is the right thing to do. If you want to leave because your heart really isn't in it, you should consider it. However, if you know that you should be running an agency in your heart and you just aren't doing well at the moment, get scrappy and resourceful, and hustle harder! #1 Most Important Long-Term Agency Growth ToolWhat's more important your brand or your offer? Your offer may get you a quick sale, but your brand is the backbone of your entire agency. Mark and I talked about ways to fight back against the commoditization of agencies in today's business world. I see lots of agencies just sticking the pedal-to-the-metal and trying to Walmart their way out (grab lots of clients to justify the low margins.) But, let me ask you this. Why do most of us own Mac computers? I know, the Apple analogy has been done to death, but seriously, think about it. They are 3x more expensive, yet almost all agency owners and creatives have one. That's because Apple branded themselves so well that they made their product associated with creatives. Trying to scale too fast to compensate for low margins will end up making you work 10x harder and possibly sink your whole agency. Branding, on the other hand, creates long-term success and shields you against market fluctuations. Branding is the only way to set your agency up for long-term success. Successful branding will help you leverage yourself as more than a commodity. You want the price to be incidental. As the old saying goes. Sell a good night's sleep — not the mattress. 3 Reasons Why Scaling isn't Always a Good IdeaTo scale or not to scale, that is the question. Mark's agency made the conscious choice not to scale. In fact, he did the opposite! He purposefully trimmed down his clients to the top 20%. This way, he got to work with high margin clients and develop deep meaningful relationships. Here's why your agency may want to follow Mark's example and not scale.
Mark took on a few quality clients, built a photography studio downstairs, did speeches around the world, and found time to run a successful podcasting company on the side. He wouldn't have been able to do any of that if he was focused on scaling non-stop. 4 Benefits of Podcasting to Grow Your AgencyIt's very simple. If you want to grow your agency and provide value, you should have a podcast. Here's why.
If you haven't started a podcast yet, start one. It's so much easier than you think, and it's the perfect resource for building up an audience of quality leads while also bolstering yourself and your brand! Cashflow or Bookkeeping Issues?FreshBooks is the solution with their ridiculously easy-to-use cloud accounting software for agencies. Freshbooks helps you work smarter and become more organized. Most importantly, it gets you paid quicker. Check out FreshBooks.com/SmartAgency and enter SMARTAGENCY in the “How Did You Hear About Us?” section for a FREE 30-day, unrestricted trial.
Direct download: Should_You_Hustle_Harder_or_Call_It_Quits_on_Your_Agency_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 10 October 2018
Is billing a headache for your marketing agency? Do you wish you could quit hour-based pricing and actually get paid what you're worth? Good news! You can. By removing the time barrier, you will see increased profitability and improve client relationships for your agency. In this episode, we'll cover:
Today, I talked with Mike McDerment, co-founder and CEO of FreshBooks — invoicing and accounting software with over 24 million users. Mike talked about his recent free eBook called Breaking the Time Barrier and why agencies need to drop time-based billing and start to use a more value-centric model. 3 Reasons To Bill by Value Instead of TimeMost agencies bill by-the-hour or by-the-project, but, time-based pricing may be doing your agency more harm than good. Mike explains 3 reasons value-based pricing is a better approach.
Value-based billing allows you to develop deeper relationships with your clients. Not only that, it gives you the ability to bill clients based on your deliverables, which benefits your agency since productivity isn't always consistent. And actually, with hour-based pricing, the smarter you get the more profit you lose. What Does it Mean to Remove the Time Barrier?Let me ask you a question. If you charge based on hours, are you selling a service with value or are you just selling hours? For example, if your agency designs websites, what are you really doing? It depends on the client. Some clients want a new site so they can increase their conversions, right? Wouldn't it make more sense to sell them a website that increases conversions? The difference between billing by the hour and billing by the value of your service can seem like they're the same thing - but they are not! Let's say it takes you 5 hours to design that website and it starts increasing the client's conversions immediately. Great! But, if you billed them at $60 an hour, you've only made $300. Is that really enough for improving a clients conversion rate by 4%? At the same time, if it took you 300 hours, your price may seem too high for the client. Instead, sit the client down and figure out what they need. Once you understand their needs, you can bill them based on what you are delivering, not how many hours you worked. There's no confusion at the end of the project, no combatting over hours, and you and the client will feel better about the end product. No one feels like they got the better of the other party. That's what removing the time barrier is all about.
Direct download: How_to_Break_the_Time_Barrier_So_You_Can_Increase_Agency_Profit.mp3
Category:general -- posted at: 5:00am MDT |
Wed, 3 October 2018
How can your agency create compelling YouTube ads? How can you get the most ROI from YouTube ads? YouTube ads are a strange beast, and the creative landscape of YouTube is continually shifting. But, if you stick to your buyer's persona and chase your ideal customer, YouTube ads can help grow your agency fast. In this episode, we'll cover:
Today, I talked with Tom Breeze (A.K.A the king of YouTube ads) who runs Viewability — the highest spending performance campaign agency on YouTube! Tom has been on the podcast before, and he dropped some great insight into performance-based models. I urge you to check out that episode if you haven't already; it's one of my favorites. Tom went over some of the most critical YouTube ad strategies, and how he and his agency position YouTube ads that engage and convert. Let's dive right in! Why You May Need 2 YouTube ChannelsTom talked about splitting your organic YouTube channel and your Ad-based YouTube channel. That may seem strange at first, but, since both require different things for success, splitting them up actually makes a bunch of sense. When you're releasing videos on your organic channel, you want to have a ton of views and engagement (subscribers, comments, shares, etc.) to help boost your channels ranking on the YouTube algorithm. When you're running ads, you want views, but you aren't going to have a lot of engagement (and you probably don't want a lot of engagement.) That's where a second channel comes in useful. Splitting them up gives you the freedom to chase different metrics on each account without risking tanking your YouTube rankings on either of them. The Difference Between YouTube and Facebook AdsTom laid out the main difference between YouTube and other ad types. On YouTube, you already have your viewers attention. They're already there to view and buy. Facebook, TV, Instagram, and other creative outlets all require you to be entertaining and engaging enough to grab the viewers attention. On YouTube, you don't want ads that are too entertaining. When you do pre-roll ads (those ads that you can skip after watching 5 seconds before the video you actually wanted to watch), you only pay if the viewer watches 30 seconds of the ad. You don't want anyone except potential buyers to watch the entire ad because you'll waste ad spend. You'll end up paying for people who aren't your ideal clients and don't fit into your buyer's persona. 3 Steps for Making Better YouTube AdsYouTube ads can be annoying. There, I said it. So, when it comes to creating ads that are going to nurture customers down your funnel, you have to use a little finesse. Tom shared some of his agency's biggest tips on how to chase those critical customers without wasting money and people's time.
Why 5 Seconds Could Make-or-Break Your AdHere's a prime tip for all of you. Adding an extra 5 seconds to the end of your ad can make-or-break your CTA. Tom recalls watching a Monday.com ad on YouTube that was engaging and appealed to him, but the ad ended before he could click the CTA. Tom's company has been having major success testing a countdown timer at the end of the ad. This way, customers have time to click that CTA and it adds a sense of urgency. You have to remember that video ads aren't like landing pages. People only have a certain amount of time to click the CTA — give them an adequate amount of time to click it. #1 Most Important Tip for the Future of YouTube AdsThe future of YouTube ads lies in AI metrics. You want to keep an eye on your conversion pixel. Gather as much information as possible on each ad you're running. You want to give the Google AI monster as much food as possible. The more Google knows about your ad and the people consuming it, the better it's going to get at targeting your ad to the right customers. Data has become the king of marketing — we all know that. The future of YouTube ad targeting (and ad targeting in general) is going to be reliant on AIs consuming as much data as possible. For those of you that want to get ahold of some more great YouTube insights from Tom, he's written a book called Viewability where he breaks down some of his agencies time-tested strategies and tips — like how to find selling moments and capitalize on different customer types. Ready to Grow Your Agency, but Not Ready to Hire?Hiring freelancers can be frustrating. You post your job, wade through hundreds of proposals, and hire a few before you find the right fit. You want to scale your agency by outsourcing, but wonder if this dreadful process is worth it. That's where Freeeup is different. Instead of wading through freelancers yourself, FreeeUp does all that for you. They have a network of the top 1% of freelancers, so everyone you hire is top notch. Depending on what you need, FreeeUp connects you with a freelancer who can make it happen. And just for Smart Agency Master Class listeners, create a Freeeup account and enter code "JSwenk50" for $50 off.
Direct download: How_to_Leverage_YouTube_Ads_to_Grow_Your_Marketing_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 26 September 2018
Is your marketing agency taking advantage of every possible tax break? Did you know you could get up to $250K in tax credits? A lot of agencies are actually leaving money on the table in the form of an R&D tax credit. So, let's dive in, and break down some actionable steps that any agency can take to cash in. In this episode, we'll cover:
Today, I talked with Jim Morrow from AATDM where he does tax consulting and CFO reporting for digital media companies. I actually met Jim after a conference; he gave me a ride to the airport. After figuring out he was an accountant, we talked shop for the entire trip and I just knew I had to get him on the podcast. Tax credits are one of those things that too many agencies just aren't taking advantage of, which is just like throwing money away. Jim is here to tell us how you can take full advantage of tax credits that you're due. Today, we're going to get hyper-actionable, and show you how you can save your agency some money! Tax Credits vs. Tax Write-OffsAgencies need to be paying more attention to available credits. Credits have some significant benefits over write-offs. Here's the difference. Tax credits are dollar-for-dollar reductions off your tax. Which means credits are basically free cash! If you have a $10k credit, you get $10k off of your paid taxes. Write-offs — or deductions — lower your taxable income. So, let's say you made $150K, but you had a $50K expense. That $50K will lower your taxable income, but not lower your actual taxes. Make sure that you look for those tax credits! #1 Tax Credit Agencies Can Take Advantage OfJim talked about a tax credit nearly every marketing agency can take advantage of — the R&D tax credit. The R&D tax credit — officially known as the Credit for Increasing Research Activities — can refund your agency as much as $250,000 a year! That's money-in-the-bank! The R&D tax credit is federal (though some states let you "double dip") so it's folded into your federal tax return. To qualify for the R&D credit, your agency has to be "experimenting" with technology with a qualified purpose. Basically, anytime your agency is devoting man hours to either:
So, all of that hard work your agency has put into customizing your Infusionsoft or HubSpot software would count towards the credit. The credit is also great for those of you in tech-heavy niches — like VR or AI. But, let's be honest. Almost every agency is going to devote some man hours to, at the very least, customizing out-of-the-box software. Here's how it works. Let's say you spent 7,500 combined manhours customizing your CRM (not unheard of,) you would get 10% of that 7,500 hours back as a credit. So, if your employees get paid $35/hr, you would be looking at around $262,000 total. That means your credit would be $26,200. Not bad! That's a pretty significant tax credit which you could be missing out on. 4 Steps to Claim This Tax CreditSince the R&D tax credit will reimburse you 10% of your R&D cost, and the majority (if not all) of those costs are going to be attributable to manpower, the main two documentations that you need will be timesheets and payroll. Here are some steps Jim provided which will help you take advantage of the R&D credit.
Most of the steps will be handled by your tax specialist (if you hire one) so you shouldn't have to put much legwork in. The only problem you could run into is payroll and timesheet related. If you don't keep timesheets or super-accurate payrolls, it may not be worth it to apply for this tax credit. It's a large tax credit, so the IRS will probably be looking into it. If there isn't something concrete to back up your claim, you'll probably get denied and throw up a red flag. (Here's more on how to avoid an audit!) When to Claim the Credit and When Not ToLet's go over the caveats. When should you try to claim the R&D tax credit and when should you not? Jim went over some of the "magic" numbers with us. You should try to claim the tax credit if all of the following are true.
You probably shouldn't try to claim the tax credit if any of the following are true.
Since you're going to have to pay your accountant, gather some timesheets, and spend a little time on the credit, you'll probably just break even if you're trying to go after anything under $15k. That is, of course, unless you're proactively claiming it for a few years or you are planning on having R&D expenses each year. Related: What is a Healthy Profit Margin for a Digital Agency? Ready to Grow Your Agency, but Not Ready to Hire?Hiring freelancers can be frustrating. You post your job, wade through hundreds of proposals, and hire a few before you find the right fit. You want to scale your agency by outsourcing, but wonder if this dreadful process is worth it. That's where Freeeup is different. Instead of wading through freelancers yourself, FreeeUp does all that for you. They have a network of the top 1% of freelancers, so everyone you hire is top notch. Depending on what you need, FreeeUp connects you with a freelancer who can make it happen. And just for Smart Agency Master Class listeners, create a Freeeup account and enter code "JSwenk50" for $50 off.
Direct download: Is_Your_Digital_Agency_Getting_This_250K_Tax_Credit_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 19 September 2018
Does your agency struggle with an outbound sales strategy? Do you even have an outbound strategy? You can build a scalable outbound strategy using LinkedIn by making connections and delivering those prospects critical content. If your LinkedIn profile isn't getting you the results that you need, or if you're looking for a way to boost your sales, check this out. You don't need a big budget to grow your agency using outbound marketing. With a solid plan, an ideal client in mind, and a little finesse, you can use LinkedIn to dominate outbound! In today's episode, we'll cover:
Today I chatted with Joey Gilkey founder of Tribe Prospecting; his agency which provides done-for-you prospecting and marketing solutions. Joey comes with a solid sales background that eventually turned into a love for marketing. He leveraged that into a position as a growth hacker and growth strategist with a HubSpot agency. Today, he's crushing it over at Tribe Prospecting, and he's here to share some tips on how to dominate outbound using LinkedIn. It's always refreshing to hear from someone who loves outbound marketing because I think that too many people gloss over it when it comes to generating leads. Let's dive right in... and make sure you follow us to the end for a great LinkedIn hack from Joey that will help your agency immediately start reaching out to clients in an impactful way without breaking the bank. Does Your Agency Really Need a LinkedIn Outbound Strategy?There are way too many agencies that have absolutely no outbound sales strategy. We all like to pour over the inbound marketing blogs then run out there and smash ads on whatever is this year's biggest trending inbound strategy is (I think you're supposed to be throwing money at micro-influencers this year?), but when it comes to having a dependable outbound strategy, most of us fall short. The problem with outbound marketing is lead generation. You spend tons of money trying to get customers to your landing page so that they can start slowly worming their way down your funnel. Now, imagine that there was a platform that was saturated with potential clients, lots of those potential clients were decision makers for their company, and those clients were already sharing content and looking for solutions. Ok great! Now, imagine it's totally free! Here's why you should be hyper-involved with LinkedIn outbound marketing.
#1 Biggest Mistake You're Probably Making on LinkedInStop using LinkedIn as a bragging platform! Utilize LinkedIn as a lead generation tool or a landing page. Don't just talk about how amazing you or your agency is --- talk about the customer's needs. Give them a reason to want to stay and learn more. Joey tells us to use a specific framework when you build out your profile:
How to Create a LinkedIn Job StoryWe all know that you have to identify and understand your ideal client - those are the ones right in your agency's sweet spot. But, Joey talked about his pro-tip for helping you really focus in and get super specific. This trick will help your agency zero in on their pain points and motivations. A job story is one sentence about your ideal customer that breaks down into 3 parts. The formula is: When ____ + I Want _____ + So I Can _____
The full example of this job story would be: When I am deciding on which sales software will help my startup most, I want a one that connects my sales team to potential customers the second they opt-in so I can crush my sales quota this year! Why Getting Rid of Connections Will Land More BusinessLinkedIn connections are a vanity metric. If you have 5 thousand connections but only 10% of them fit snugly into your ideal client's persona, start deleting. LinkedIn's algorithm likes to push your content out to a small sampling of your connections and see if it engages them. If half of your connections are doctors, but you want to target veterinarians, your white paper on neutering probably isn't going to generate a bunch of clicks. (Remember to use that job story!) You want to make sure that you have a hyper-targeted connection list — one that you can push those sweet eBooks that you wrote onto. If you find connections that aren't relevant after you've pivoted your ideal client's persona, be merciless. If you have quality connections, connecting to them is much easier. You can send them a message, share their content, give them content without bothering them for their email address because you already know that they are a perfect fit for you. Having quality connections makes nurturing those connections a breeze. Pro Tip: Joey's Super Secret Growth Hack!Being the super cool guy that he is, Joey shared a little trick his agency uses to generate leads. This method takes advantage of LinkedIn, Facebook, and cold emails do you can triple down on outbound efforts. Here's the rundown.
Want more on LinkedIn lead gen strategies? Check out these posts/podcasts: 3 Steps for Using LinkedIn to Turn Connections Into Clients 5 Steps to Generating New Agency Business On LinkedIn Ready to Grow Your Agency, but Not Ready to Hire?Hiring freelancers can be frustrating. You post your job, wade through hundreds of proposals, and hire a few before you find the right fit. You want to scale your agency by outsourcing, but wonder if this dreadful process is worth it. That's where Freeeup is different. Instead of wading through freelancers yourself, FreeeUp does all that for you. They have a network of the top 1% of freelancers, so everyone you hire is top notch. Depending on what you need, FreeeUp connects you with a freelancer who can make it happen. And just for Smart Agency Master Class listeners, create a Freeeup account and enter code "JSwenk50" for $50 off.
Direct download: How_to_Dominate_Outbound_Marketing_on_a_Lean_Budget.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 12 September 2018
Do you want to find a niche that you can carve out? Do you want to dominate a specific gap in the marketplace? This week we talked to one agency that picked a niche and is dominating their market. They have hyper-specific goals, achievements, and clients, and that exclusivity is propelling them forward as aggressors in their market space. Today, we'll cover:
Today I chatted with Adam Draper CEO/Owner of Gladiator Law Marketing. Adam's digital agency operates deep within the law firm niche, and, recently, he's been crushing it. His agency is rapidly growing, focused on small to medium sized law firms. He's here to share some of his keys to success, specifically how his niche is propelling his agency forward. 4 Benefits of Operating Within a NicheWhy would an agency want to specialize? Doesn't working in a niche limit you from reaching clients outside of your niche? Doesn't specifying a niche mean losing out on potential clients outside the niche? First, it's crucial that we all understand that finding a niche isn't only beneficial, it's critical in the current agency atmosphere. Being able to dominate a specific industry is more feasible than dominating the entire agency atmosphere; it just is. Let's go over four critical benefits of operating in a space where you can specialize your services.
Overcoming the Obstacles of Niching DownAdam and I talked a bit about overcoming those initial obstacles. I see far too many people get caught up in that one bad client. It's sad, and one ruthless client shouldn't ever defeat your self-worth. Here are some tips for overcoming those initial obstacles that are holding you and your overall growth back.
How to Dominate Your CompetitionWhen you're starting out in a niche, competition is heavy. Here are some tips on how to dominate your competition.
The #1 Pain Point of Operating in a NicheThe main pain-point of working within a niche is that you're at the mercy of your niche. Whatever industry it is, is now completely in control of you and your business. If laws change, it impacts you. If the industry slows down, it impacts you. Make the niche your victim - not fall victim to it. Related: 3 Big Benefits of Declaring Your Agency's Niche Market Why Your Agency Needs to Start With One Niche at a Time 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: How_Your_Agency_Can_Pick_a_Niche_and_Dominate_It.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 5 September 2018
The creative landscape is changing. Is your agency keeping up? Are your creative people struggling to stay fresh? It's easy to become overwhelmed with change and uncertainty. Learning new trends and technologies can be challenging. However, there are massive opportunities available in our day and age. It's good to be a creative right now, and there's no excuse not to create! In this episode, we'll cover:
Today I chatted with Sean Womack, founder, and CEO of Smack, a media agency, and author of the novel, The Six Sides of the Black Box. That's right, Sean wrote a fiction novel (not a business book!) which provides a glimpse into agency life and illustrates 6 lessons learned. Sean's interesting and extensive background a creative in the agency space speaks for itself. On today's show, Sean shares his interesting backstory and the excitement of being an agency creative in today's landscape. He also touches on the evolution of being a post-40-year-old creative person as well as give us some fresh insight on being creative in our crowded agency world. With the ever-changing technology and fast-paced nature of our industry, it's refreshing to hear from someone who has navigated successfully and reminds us why it's an exciting time, no matter your age. It's Never Been a Better Time to Be A CreativeAre you a Gen-X-er? If so, then you remember the "Don Draper way" of pitching creative ideas to the client. As a Creative Director, you show up to a meeting and tell a compelling story to get a client to buy the idea. Not so much anymore... Today's philosophy is to create as many ideas as possible. Then those ideas go into a system to be analyzed and tested in the marketplace and see which one(s) will fly. That change has been radical and it's impacted the entire industry. Change can be difficult and scary but we have to remember all the positives that today's technology brings. If you are (or if your agency has) an awesome creative who love creating stuff but feel guilty about not really knowing which idea will work...then this is the best time ever to be a creative! Not only do we get to generate as many ideas as possible, but we also get to put them into a system to be tested. That system is able to tell us which idea worked and with whom. It's pretty ideal - the system always needs new creation in order to test and improve. So keep creating! Why You're Out of Excuses Not to Create1. There's plenty of material. Today, creatives get to work directly with a ton of different people, from engineers and business people to artists and storytellers. Everyone comes together and mixes it all up to create an interesting and rich creative environment. 2. There's plenty of resources. Let's not forget all the different mediums and platforms right at our fingertips. In recent times, a creative's job has expanded. You might be thinking of writing a book and you know that actually writing the book is just step #1 of like 20. But the amount of tools at our fingertips makes our expanding jobs easier... that's to technology and social media we can reach the masses at lightning speed. No excuses... Now is an exciting time to be a creative! 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. |
Wed, 29 August 2018
Are you self-sabotaging your agency's sales? Do you lack trust or confidence in your team to deliver results? Worried they aren't going to live up to expectations and make you look bad? You probably have felt this way at one time or another. You might even be causing the problem and not realize it! Your agency is a reflection of you and it's natural to have these concerns. Once you're super honest and self-aware you can get out of your own way to grow your agency. In today's episode, we'll cover:
Today I chatted with Cat Howell, founder, and CEO of Eight Loop Social, a successful Facebook ads agency. Cat faced some serious lows in the beginning and shares with us what she learned and how she overcame them to become a six-figure per month agency. Growing an agency can be hard, but you can make it even harder if you are self-sabotaging your agency sales... and you might not even realize you are doing it. As agency owners, we are all guilty of wanting or feeling that we need to "do it all". Cat tells us how to overcome that "do it all" mentality so you can learn to trust your team and grow your agency. How Niching Down Builds TrustWhen you are an agency that is trying to serve all types of clients, you aren't serving any type of client well. (The jack-of-all-trades is the master of none.) Trying to do everything means your agency team is constantly on a learning curve to a specific industry or service. That constant learning curve can cost your agency:
When you hone in on your agency's strengths it allows your team the ability to FOCUS. Pinpointing a niche - whether vertical, horizontal or both - provides the opportunity to save time, money, resources as well as gain clients and become great at one thing. Once you pinpoint a niche, create SOP's around that particular funnel and get systemized so your agency team can be more efficient and effective. When you see your team running like a well-oiled machine, you'll gain trust and they'll feel empowered to do work that will grow the agency. Avoiding 2 Major Pitfalls Of Growing an Agency Team#1. DON'T borrow money to build your team.It can be a vicious cycle... You're trying to win new business, but you don't have the money to hire staff. But then clients don't want to commit without you having enough staff in place. You might want to (or already have) taken out a large loan to build your team. Here's how you can avoid this pitfall:
Don't expect new team members to just figure it out - that's a recipe for disaster. #2. DON'T neglect your team during agency growth.In times of fast growth, we tend to shift focus to onboarding clients quickly and lose sight of internal processes and systems such as properly training the agency team. This is a sure way to set them (and you) up for failure. Talk about self-sabotaging! Instead, here's what you can do:
Your team is your greatest asset. You need to trust your team and put them first. New agency business and growth can only follow when there is confidence in your team to deliver results on the services you're promising. When you lose confidence in your agency team it is natural to start pulling back and that is self-sabotaging agency sales while negatively impacting growth. Swenk On The SpotToday I tried something new on the podcast and let my guest, Cat, ask me two questions. It could be anything she wants, within appropriate reason (ha!) and I answered them on the spot. 1- Do you run background checks on contractors and full-time staff? I run background checks, dig into social accounts, and check references on employees but not on contractors. I'm totally transparent about this policy with job candidates and I've found it filters out the shady ones. 2- What do you do if a client asks you for a grace period on your invoice? No. Don't do it. You have to start by setting up expectations from the beginning of the client relationship. Clients start to get nervous if they don't see results as big or fast as they want to, and they want to put on the brakes. If this happens, remind them they hired you to achieve specific results and you will do it when allowed the proper time. In the meantime, they're still responsible for paying you on time. 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: Are_You_Self-Sabotaging_Your_Agencys_Sales__Growth_.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 22 August 2018
Looking for ways to generate more new agency business? Tired of watching your competition grow and want to set your agency apart from the pack? Now is the time to be a front runner with the cutting edge technology of chatbots. You can use chatbots to generate new business and as an add-on service for your clients. It's easier than you might think to build and use a chatbot. Chatbot technology helps you engage with your ideal prospects and keep the conversation going in order to convert them into a client. In this episode, we'll cover:
Today I talked with Andrew Warner, Founder and CEO of Mixergy, a development resource for entrepreneurs. He's also the founder of Bot Academy. Andrew built his first company to over $30 million in sales and sold it. He started Mixergy to help business owners, by interviewing successful entrepreneurs and learning how they built their businesses. After learning about chatbots and eventually becoming an angel investor, he immediately knew chatbots were going to change the way we do business. He shares the potential that comes from using chatbots to generate new agency business. Why Chatbots Are Better Than Other Methods of ProspectingEmail isn't working like it used to. Inboxes are flooded and we are learning that people love instant messaging or chats instead. People like to engage with communication apps. Chatbots are the ideal tool to educate, build trust, and nurture a relationship from prospect-stage to client-stage. For example.... Think about your Contact Page. People can come to it and ask a question... they want to know if you can help them. Then they have to wait for a response and that is it. That's the end of it. With a chatbot, there is potential for further engagement. A potential customer can ask questions while the chatbot is also garnering information. After the chatbot interaction, your agency can also followup and engage. A relationship is formed and can be nurtured over time. The change can be as simple as moving from a form, which is transactional in nature, to a chatbot that is more of a relationship-builder. A chatbot allows businesses to connect with their customers. Right now very few agencies are using chatbots, and even fewer are offering chatbot building as a service. Your agency can get in on this early-on. #1 Mistake Agencies Make Using ChatbotsDon't try to have your chatbot do too much! While it can be exciting to jump out of the gate with new ideas, remember chatbots are still relatively new to the receiver and you don't want too overwhelm them. You can test my 'bot here. You'll see I only use the it to qualify the prospect and determine who I'm talking to by asking 2-3 questions. Then a live person jumps in to keep the conversation going. Should You Add Chatbot Building As A Service?In addition to using chatbots to generate new agency business, you might consider adding it as a service. Chatbot building might be a service to consider for bringing value-added to your clients. Andrew says a basic chatbot takes just minutes to make. He suggesting building one to present to your clients and let them play with it. Start by approaching your agency clients who already do email marketing well and show them how their current content would work with a 'bot. Be sure to do it in person or via video conference, so you can get real-time reactions. Since chatbots are in the early stages, creating this add-on for clients might set your agency apart from the competition. 2 Easy Steps To Get Started Using Chatbots
If you build your chatbot right, your agency will be able to know exactly where the audience is coming from. Generate leads for your agency by checking out Builtwith, to find out who's using chatbots. Then use an email service, like Mailshake to send out mass emails (that don't actually look like mass emails) as well as follow-ups, to start a chatbot conversation. 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: 2_Ways_Chatbots_Can_Grow_Your_Digital_Agency_Business.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 15 August 2018
When is the right time to bring on freelancers or contractors? How can you stop doing everything yourself so you can grow your agency? If you're overwhelmed at the thought of building your agency team and nervous about how to find the right people, check this out. Great freelancers are out there. You can find and onboard them easier than you think! Learn some suggestions and easy tips to make freelancers work for you, so you can build your team and grow your agency. In today's episode, we'll cover:
Today I chatted with Nathan Hirsch, founder and CEO of Freeeup.com, an optimized freelance marketplace. Freeeup.com vets and trains all potential candidates, so you don't have to. After running a successful e-commerce business, Nathan quickly felt the frustration of trying to find and hire reliable freelancers. He realized the need for a better way to source freelance help and from there, Freeeup.com was born. On the show today, he shares his expertise on how to hire and onboard freelancers faster in order to ensure mutual success. 2 Reasons To Bring On FreelancersIt is very simple. If your agency work is taking up so much time that every other aspect of your life is suffering... it's probably time to outsource. Here's 2 reasons to look for freelancers:
If you haven't yet, it's time to become self aware of where your hours are spent, and where your skill set lies. You'll see more rapid agency growth when you get really clear on where you're at and where your agency is headed. How To Find & Onboard Reliable FreelancersFinding freelancers can be a crap shoot. There are dozens of different platforms out there. Your agency can try out Nathan's company freeeup.com and receive a $50 credit to try it out. Nathan recommends creating a living training document... whether it's a video with screen share or step-by-step Word doc. It just need to be something your agency's freelancers can sit within the beginning to learn and ask questions. Be clear on processes and procedures, as well as expectations. Sure, paying a freelancer for training time will cost your agency some non-billable hours but there are major benefits:
Nathan's training document has grown to over 80 pages, but your agency just needs to start out with a one to two page outline. Appoint someone responsible for updating the document, with input from people in other roles. This will also make adding or replacing people much easier because everything will be living in the document. #1 Biggest Mistake to Avoid When Using FreelancersThe biggest mistake Nathan sees agencies make is not setting expectations. Spend the time up-front going through the specifics. Don't assume a project will take a certain amount of time - confirm it. Make sure you're clear on a due date and time (especially when working across different time zones!) Make sure everything is in writing, so there are no misunderstandings. Follow-up and follow-through is key. So for example, your agency does remote meetings via phone call, then make sure to follow-up with an email reiterating what was discussed as assigning responsibilities. Your agency and your freelancers need to be 100% on the same page. Here's the other BIG MISTAKES to avoid when working with freelancers. It's Time To Pay Attention To The Gig EconomyThe gig economy is growing fast! Did your know that in the next ten years, it's expected that over 50% of the workforce will be remote? So it's definitely time to start figuring out how your agency can incorporate the remote workforce. You can get started by checking out a special offer from Nathan and Freeeup.com. He's offering my listeners a $50 credit when they create an account. Why not check out what Freeeup.com has to offer? Check out: https://freeeup.com/jasonswenk/
Direct download: How_To_Find__Onboard_Reliable_Freelancers_for_Your_Agency.mp3
Category:general -- posted at: 3:00am MDT |
Wed, 8 August 2018
Want to grow your agency to 8-figure revenue? Thinking of growing your team but worried about the overhead? Hoping for a moment of clarity, where it'll all come together? Then it's time to put your foot on the gas and push through. Acquiring quick agency growth is achievable when you're focused. Find out how one agency owner got to $1 million in under 6 months and 8-figures in under 5 years! In this episode, we'll cover:
Today I talked with Jake Baadsgaard, founder and CEO of Disruptive Advertising, an agency built on results-based relationships. Jake grew his agency to the $1 million mark, run-rate, in six months and was able to exceed 8-figure revenue in under five years. Today, Disruptive Advertising boasts over 100 employees and continues to grow. He shares some thoughts on agency growth, pivotal moments for his company and advice on how your agency can overcome that plateau and accelerate growth. A Different Agency StructureJake's agency has an interesting structure. Disruptive separate out the account management from the execution. He brings in employee and continues the face-time with the client, to ensure the agency is moving in the right strategic direction for the client. He then provides a list of what needs to get done. This develops into the employee taking over the face-time and owning the relationship as well as the execution. 2 Attributes for Quick Agency GrowthAlways be in a hurry. Jake always felt a need to be in a hurry and get things done. He attributes their quick agency growth to two things:
#1 Thing To Achieve Constant Agency GrowthDon't give up ~ push through! There are always bumps in the road. Jake thought about quitting all the time in the first couple of years, but he didn't. After successfully navigating some difficult relationships and figuring out the direction of the agency, he chose to push through. There is no magic bullet. Don't quit today, quit tomorrow. The 8-Figure Revenue "A-Ha Moment"?There were different things that pointed Jake in the right direction, but his true "a-ha moment" came when he realized he was trying to make decisions before he needed to. This approach creates a lot of unnecessary pressure. It comes down to this: What is your agency's end game? Do you ultimately want to sell your agency? Once you establish this decision, then you can build something exciting to come to work on everyday. It's all about clarity, vision and communicating direction. --> See related articles to sell your agency. How To Overcome the Small Agency HumpIt can be scary to bring on more overhead, knowing that it will cut into revenue. If your agency has multiple partners, that brings the challenge of keeping everyone satisfied while still having room left to grow the financials. Here's the thing. Sometimes you have to take a hit on your bottom line, by investing in sales and marketing, to feed the pipeline and encourage growth. It's important to recognize when it's time to move past founder-based selling. To do that, carve out a percentage of revenue to invest in a sales team and marketing team. That's the best way to grow. Always be building your agency pipeline... and, don't take your foot off the gas. Don't forget the value that comes from collaboration with other agencies. Strategic partners can be lead to major growth. 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: How_to_Grow_Your_Agency_to_an_8-Figure_Revenue_in_Under_5_Years.mp3
Category:general -- posted at: 3:00am MDT |