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How to Multiply Agency Success With the Magic of Opportunity Stacking

There are so many things to do when marketing your business — how in the world do you get the most bang for your buck? I have already discussed how consistent action beats perfect action. But there is another principle that is essential to getting the most out of every single business development opportunity, which I call “stacking.” Stacking is the deliberate process of looking for ways that a singular marketing activity can be leveraged by “stacking” other opportunities for reach, exposure or impact on top of it. For example, if you are going to take the time to do a live talk about your core area of expertise at a local setting, why not stack getting photos and a video of the event on top of it? Why not live stream the talk for your non-local prospects? Why not arrange to meet a strategic attendee for coffee or dinner after the event? When you look for all the possible ways to maximize a marketing activity in your business, you will have a much better return on your investment of time, energy and resources. A stacking example Recently, Susan Baier, Chris Lee and I completed Crack the Challenge Code, a small business survey that looked at the attitudes small business owners have toward obstacles. This research is essential to do a better job in our respective businesses, since most of what our clients struggle with is not what to do (we all know we should market more consistently, write great content, build our product funnels, etc), but few know how to do it (we get in our own way by becoming overwhelmed, feeling imposter syndrome, sticking our heads in the sand, etc). Putting together and [...]

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4 Questions You MUST Ask To Uncover Your Prospect’s Needs

The tone and outcome of the sales conversation are set into motion by how well you uncovered your prospect's needs early on. It’s impossible to adequately sell if you don’t even have a clear understanding of what your prospect needed in the first place! While that sounds like a no-brainer, many sales pros rattle off their list of differentiators and wait for the prospect to be impressed instead of asking clear, concise questions and listening to their responses actively. There are two types of need you can uncover during these interactions: aspirational needs and frustration needs. Aspirational needs include things that the prospect wants and does not yet have. Frustration needs are born out of the pain points the prospect is experiencing with their current solution that they’re looking to solve. Uncovering your prospect's needs is simpler than you think Believe it or not, the four key questions that drive the uncovering the prospect's needs portion of the sale are pretty simple. The first three should be answered by the prospect and the last one, which may be the most overlooked, should be answered by none other than you! So, let’s dive into the four questions you must ask to uncover your prospect's needs. 1. What do they need? Straightforward, right? So many sales pros tell leads what they need instead of asking the lead what they think their needs are. If you believe in your product or service and if you know it like the back of your hand; it’s easy to assume that your prospect knows they need it. But you need to ask thoughtful questions to see where they are at. You don’t need to bury the question here; you can simply [...]

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False Advertising: What Is It, and How Does Our Agency Avoid It?

True or false? Anyone involved in the advertising process can be held liable under most regulations and statutes that govern false advertising. Oh. so. true. The advertiser, the Agency, and anyone else involved who knowingly, or sometimes negligently, fails to follow the rules, is on the hook. In addition to traditional and digital advertising, when you think about the current state of influencer marketing, and the tangled web of risks around each brand and #ad campaign, it’s easier to visualize the vulnerability of agencies when it comes to implementing these tactics. False claims and advertising can lead to financial, legal, and brand loyalty and reputation issues. It can also completely disrupt your Agency’s relationship with a valued client. But what exactly are the rules around false advertising and where do they come into play? Understanding False Advertising False advertising involves the stating of untrue claims about the performance, reliability, functions and features of whatever product or service is being promoted. This not only applies to the way a product works, but also includes its origin and the way it is manufactured. It isn’t just outright lying in advertising that gets you in trouble with regulators, but also making claims or omissions that could mislead regulators, competitors or consumers. Actual False Claims: Stating information that is clearly false and incorrect. Misleading Claims: Messages that allude to or imply incorrect information that can mislead the buying audience. Unsubstantiated Claims: The presentation of information that can’t be verified, including that of competition. Four Ways Your Agency Can Get Into Trouble 1. No substantiation of claims Do not make any claims about the product or service that you or your client cannot verify. Sources such as product research, consumer [...]

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3 Science-Backed Reasons You Need to Post on LinkedIn

The image that most professionals have about posting on social media isn’t too positive. In fact, it’s usually downright horrible. When you picture “posting on social media,” what image comes up? Teenagers sprawled on their beds and posting Instagram selfies on their phone? The hipster taking a picture of their food at a restaurant for Facebook? Your friend who can’t seem to stop posting their every thought to Twitter? If that’s how you view social media engagement, it’s easy to blow it off. It doesn’t seem connected to the goal of winning more business. But what if I told you that there was actually science behind why you should be online? There are very specific professional outcomes that you can support through regular and consistent engagement on social media. And for your professional goals, there’s still no better place to spend that time than on LinkedIn. Unconsciously (and Powerfully) Influence Your Prospects Through LinkedIn If you want to build your credibility, influence, and reach, there are no tools as efficient, scalable, and accessible as social media platforms. Social selling advocates tend to focus on using digital platforms for research, pipeline-building, and information-gathering, and rightly so. There are also powerful ways that all professionals can use it for building a stronger brand among your network. You can use it to make your presence known and actively influence your connections. And your connections might not even know that it’s happening, because much of what influences us isn’t being processed at a conscious level. We can see this by looking at the ideas and writing of researchers like Dan Ariely, Daniel Kahneman, and Sheena Iyenga. Central to their research are the cognitive biases and unconscious heuristics that influence [...]

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Consistency Beats Perfection In Agency Marketing

To make it in business, we need three main things: A viable, valuable product or service that solves a real problem A way to sell and deliver it A defined group of people to sell it to But checking all three boxes will not do anything for your bank account. You must let people know every day that you have a business, that you love what you do and that you want to solve their problems. No agency survives without consistent marketing. So many of us delay sharing about our businesses because we don’t feel ready. We wait for the perfect pitch, platform or process to get started. We wait for our website to be built, or for our About Page to be perfect or for our new head shots to be ready for our fabulous business cards. We wait for the perfect newsletter template before sending an email to our list. Common barriers to consistent agency marketing Here are some common barriers that prevent people from consistent agency marketing that I just gathered from business owners on Facebook: I am too busy delivering services to clients to market my business I don’t know what to do in what order Marketing technology feels too complicated I don’t have my pitch nailed I don’t want to waste my time Boy, do I get it! No one wants to feel sloppy or unorganized. And I am not advocating that you are. Building a clear, effective brand story and agency marketing system takes planning, money and time. But given your current level of information, tools and resources, couldn’t you do something each day that would increase your chance to get ideal clients? Our starting point without a big [...]

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9 Steps to Picking a Niche for Your Digital Agency

As a digital agency owner, you probably tell your clients all the time that they need to refine and focus in on their service or product offerings. But have you applied the same logic to your own digital agency? Finding a niche for your digital agency allows you to connect with your prospects and deliver a unique selling proposition that speaks directly to them. To make this connection with a prospect on the first impression though you must have clear and targeted messaging. If you’re trying to tell ten different stories and appeal to ten different audiences, then you’ll lose them all. This is why you’ve never seen an Asian-Italian-Greek-Burger-Smoothie fusion restaurant. Sounds silly when you think of it like that. So why then are you and your digital agency trying to help so many people, in so many different industries, by providing so many different services? Instead of focusing in on on being really good at one thing and developing a killer value proposition along the way, you’re spreading yourself too thin. Find a niche for your digital agency now. Every day you waste, the competition is getting more focused, more precise, and more skilled at the niche you could be in. However, it’s important to pick the right niche, one that provides enough opportunity for new business without being oversaturated. You need to be able to carve out a unique section for your agency and there needs to be a demand for it. Follow the nine steps below to find your digital agency’s perfect niche and start growing your agency today. 1. Find a niche that is digitally friendly Is the industry digitally friendly? A lot of industries have done as little as [...]

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Podcasting For Advertising Agencies: How to Win New Clients, Part II

This is part II in a series on podcasting for advertising agencies. Read part I here, then come back and join us for part II. Earlier this week, I shared with you why and how podcasting for advertising agencies can help you win new clients. I even shared with you how to line up stellar guests (and new business prospects!) for your podcast. If you followed my advice, you've likely got some podcast guests waiting in the wings now. So, you might be wondering: Now that I have podcast guests, what do I talk about with them? I think the real question here is: how do I turn this interview into a sales/partnership conversation. I’ll get to this. For the interview itself, though: Rule #1: Serve the audience. It needs to be something your core audience will actually find interesting. So, you can talk about that. But the benefit of an interview, is that your guest is the content. Be curious about what they do, their story, and treat it like a conversation so you bring out the best in them. Aside from that, the topic of conducting a great podcast interview is for another post entirely. I won’t get into it here. It is 80/20 though: you can extract the vast majority of value from a guest simply by asking them questions like you would ask someone at a dinner party. But serve your audience: what do they want to learn about from your guest? You will probably find the same questions you have in your mind, are the same your guests have in their minds. Ask those questions. Remember, your guest is the content—you’re just facilitating. What’s important is that you don’t launch [...]

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The Secret Way to Grow Your Agency Fast

I don’t run an agency, but I do work with agencies to develop a sales process custom-suited for generating repeatable new business opportunities. In the next 5 minutes you spend reading this post, I’m going to share the exact method you could start experimenting with to double the productivity of your agency’s outbound business development. In short, I’m going to share the secret way to grow your agency fast. Really Fast. Fair warning – I am going to talk about the two tools I’ve founded (SellHack and Replify) throughout this article. There are certainly other tools out there that do the same type of work and I’ve mentioned a few throughout the piece. Even if you choose to do all of this manually, it will still work. It’s just a matter of how much time versus money do you want to spend. How to Grow Your Agency Really Fast Step 1 in the process of how to grow your agency really fast relies very much on the word “experiment.” This is a word carefully chosen to describe the mindset your business development team must embrace when hunting for new clients. Some of you are reading this thinking, “Yeah, but most of my business comes from referrals.” Okay, great. Keep asking for referrals. But if you’re serious about how to grow your agency really fast, forget referrals and do what I suggest. Consider a New Channel for Developing Leads Moving away from relying solely on referrals is smart business. So I’m suggesting you consider a new channel for developing leads: An outbound channel. More specifically, I’m talking about automating your prospect list-building, sending cold emails and follow-ups. You can do this manually or you can use [...]

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How Agencies Can Execute on Strategic Selling

“I hate selling.” I hear that so often from agency owners and agency leaders. I especially hear it from junior agency staffers. I think the key to solving this problem is moving away from “I hate selling” and moving toward “I love helping others succeed.” My years of agency experience have taught me that the most successful agencies have a specific mindset. They have embraced the art of being the very best at understanding their clients and have a deep desire to make their lives easier and better. The agency business is a relationship business; it’s about putting the needs of your client front and center. Your success is based on their success. Their good days are your good days; and conversely, their bad days are your bad days. So, if agency success is about building great relationships, I would pose to you that for agencies, executing on strategic selling is very much like dating. If that’s the case, then imagine thinking of the prospect the same way you think about a prospective date - that person you’ve wanted to date for oh, so long. As you get ready to make the ask… what’s first? The answer: the first thing is understanding the prospect. Strategic Selling Requires Understanding the Prospect First and foremost, remember that you must think about this from their viewpoint – the viewpoint of the prospect. What’s on her mind and how has the landscape changed since the last time she looked for agency services? Budget and headcount pressures are enormous in most companies today There are heightened expectations that marketing supports sales – it’s no longer enough to simply produce great creative Sales and revenue are typically the top marketing success [...]

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Understanding Client Satisfaction: It Depends On Who’s Asking The Questions

How often have you recommended to a client that they conduct research among their own customers to gauge overall satisfaction and uncover what they value about the relationship to your client’s company or brand? You’re astute enough to know that armed with customer satisfaction data, you can more knowledgeably guide that client in everything from customer acquisition to integration of sales and marketing to customer retention. Now, how often have you thought about the need to understand the satisfaction of your agency’s clients? The fact is agencies tend to avoid client satisfaction surveys for two reasons: We’re either afraid to ask the big questions for fear we might hear something we don’t like, or we assume everything is good because they are still with us. Both ways of thinking can lead to missing an opportunity to fine-tune your relationship with your clients, or more importantly heading off an impending disaster. As an agency owner, you shouldn’t be involved in every detail of what’s happening between your clients and your agency. But, that doesn’t mean you should operate within a vacuum either. If you have an established “one-on-one” meeting process in place between you and your direct reports, and those direct reports have the same established with staff members they manage, then you should have a general awareness of what’s happening with clients. Your responsibility is to ensure that the management of client relationships is carried out in a manner consistent with the agency’s core values and service philosophy. There may be periods of time when that’s not happening, resulting in a slow erosion of confidence between the client and the agency. Simple ways to gauge client satisfaction That’s why it’s smart to periodically engage your [...]

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5 Mistakes that cost agency owners money.

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