We have all bought clothes that weren’t quite the right fit. Whether too tight, too big or whatever the issue — they are uncomfortable and when you are wearing that misfit of clothes — you are very aware that something is not quite right. In fact, pretty soon, the pinching, sagging or snugness is all you can focus on. You either bought it without doing your homework (trying it on or moving around in it) or it was so cool/cute/dashing that you ignored the intial discomfort, thinking you could either fix it or get used to it. But we don’t. I think that exact same thing happens with clients. We either ignore the warning signs, think we can fix them or, if we’re honest with ourselves, we want their money and don’t care if the fix is off. You know it when you do it. There’s that nagging voice in the back of your head that you shhh every time it raises a concern. We’ve all done it. If you haven’t done it yet — you haven’t owned your agency very long. I get why we do it. But I also get the price we pay. I have never seen an agency turn that situation into a profitable one. In the short run — sure, you can make some money. But in the long run, you are going to lose money and even worse, potentially lose critically valuable team members. That’s why I wrote the article How to Find New Clients That Fit Your Agency Perfectly for Forbes. I not only believe we don’t have to settle for wrong fit clients but I think we’re fools if we do. Take the time to find the [...]
Let’s be honest — sometimes the biz dev process can leave us feeling like we’ve somehow compromised ourselves to get a seat at the table. Hopefully, we don’t make compromises that actually left us feeling dirty but even with a sweet spot prospect, we can certainly feel like we’ve twisted ourselves into a pretzel or performed like a dancing poodle rather than being respected for how we can elevate the prospect’s business. I think it’s easy to forget that clients actually want their agency to have a point of view and an opinion about the work and the direction the client should pursue. We’re so busy trying to be invited to the dance that it’s easy to lose a little bit of ourselves. I wrote an article for Marketo about this idea that clients actually long for brave agencies and it’s our responsibility to walk with some swagger and confidence to the negotiating table, rather than acting like we’re grateful for the handout. When I look at the agencies who are knocking it out of the park from a biz dev point of view, they all have one thing in common — the courage to speak their mind. I’d love to hear your take on this topic and on the article. This was originally published in the weekly AMI newsletter. To subscribe, click here.
I remember my parents lamenting how quickly time passed and, as a kid, I thought they were crazy. Every day seemed to crawl along. Now, I get it. A blink ago it was December and we were all planning our amazing 2020. Little did we know what 2020 had in store. Now, we’re almost to December again. How are you coming on those plans? If you’re a typical agency — you’re behind. Distractions, especially this year, (both worthy and the squirrel variety) have drawn your attention and your time away from your biggest priorities. It’s not too late but it is time to get serious about it. Here’s what I’d like you to do: Pull together any planning documents you developed for 2021 Schedule a 2-3 hour meeting with your leadership team A week ahead of that meeting, send them all the documents with your assessment of the agency’s progress on each goal Ask them to come prepared to discuss: Is this still a priority? (For each item) What do we need to do to get this back on track/keep on track? Who needs to own this goal/initiative? If we only accomplished one of these goals — which one matters the most? Have an open conversation around these questions and then revise your plan. Odds are, you were more ambitious than is reasonable. So get realistic with yourselves and get back on track. Note — if you don’t have any planning documents — that does not mean you should disregard this. You can still pull everyone together and create a plan for the new year. It’s time to build a rock-solid foundation for your agency. Think about how to strengthen your current client relationships, increase [...]
At the beginning of most of my engagements, I start by sending the client team a questionnaire that helps me establish a baseline understanding of how the agency approaches business development—strengths, weaknesses, skills, and areas of resistance. In it, I ask them to describe their ideal client. Here’s a sampling of what I hear more often than not: “Open-minded, seek out expert advice, and take it, challenge us with problems they can’t solve, value our time and expertise.” “Really smart, and motivated to get things done.” “Collaborators who recognize the importance of strategic planning and thoughtful execution.” “They provide us with direct access to key decision-makers. They’re collaborative, value our opinions and input, and have a healthy balance of practical and aspirational thinking for their brand.” “They’re ‘brand collaborators’—marketing-led companies looking for a long-term, transparent partner to challenge the status quo and collaborate on integrated solutions.” “They trust us, respect us, and like spending time with us. Discussion is always thoughtful, relaxed, and challenging. It never feels like we’re not on the same team even when we disagree.” “They are appreciative of the work we do and pleasant to work with.” These are pretty idyllic descriptions. And not necessarily unrealistic. Every agency deserves to work with clients like these. The problem is, these descriptions are limited in their ability to help you find ideal clients. I began to consider why agencies default to describing ideal clients in this way. What I realized is agencies tend to frame the question as "who are we best served by?" when the question I’m really asking is “whom do you serve best?” Understanding the distinction between the two has big implications for the effectiveness of your new business outreach. Who is [...]
There are days (and we love them) when price isn’t a barrier and that prospect gladly signs on the dotted line and off we go. But, we’ve all had the experience of being in front of a prospect who is excited to work with our agency until the conversation circled around to dollars and cents. The minute we went from helping them slay their dragons to how much it was going to cost — something happens to the energy in the room. Those kinds of conversations are what have driven a small number of agencies to try to come up with a different pricing model that eliminated the connection to selling time by the hour. We have some AMI agencies that have created a subscription model. Others have created a points system where they, in essence, created their own points system. If you’ve read the book The Marketing Agency Blueprint by Paul Roetzer, you may be familiar with this idea. Paul and his team at PR 20/20 have been using their point pricing model for a few years now and through their agency education arm, offer a free download, Sample GamePlan that show you how their point pricing model works. Here are couple different articles on the idea of point pricing, if you’re interested in learning more. PR 20/20 article on eliminating hours from agency pricing Articulate’s explanation This was originally published in the AMI newsletter. To subscribe, click here.
Remember the good old days when we could just share the monthly Google Analytics with a client and they were wowed by our prowess? Sadly, those days are gone. One of the biggest challenges facing most agencies is how to help our clients understand the numbers and what they mean. They’re no longer content to see the data, they want to know how to use the information to make better decisions. If you have someone on staff who can interpret the data and translate it, you’re one of the fortunate few. Most agencies are struggling to level up their internal analytics team to truly deliver on this client demand. I recently wrote a story for Smart Insights on how agencies are solving this problem. This isn’t going to get easier and clients’ expectations aren’t going to get smaller. How are you prepping your team for this ongoing need? The agencies that get a handle on how to interpret the data and use it to guide future decisions are going to have a very compelling story to tell. I’d love to hear how you’re solving this need. This was originally published in the AMI weekly newsletter. To subscribe, click here.
My intention with a short email isn’t to talk about the bigger, cultural issues our world is facing around diversity but I think we can all agree it’s a topic that we need to keep front and center. That’s true in our agencies as well. Our clients are starting to demand it. It will have influence over our ability to hire and retain talent and it changes the caliber of our work. In fact, 42% of marketers feel the brands they work for don’t accurately reflect the racial diversity of our society. It’s a big deal and we need to pay attention to the challenge. Forbes asked me to write about how this is impacting agencies, our clients and our industry. I also offered up some tactics for thinking about and broadening the diversity in your own shop. I hope you’ll check it out and find it of value. We will be talking about best practices and new tactics for hiring the right team member in our upcoming workshop, Running Your Agency for Growth, Profit (and a little sanity!) coming up in March. It’s two days of how to operate your agency for maximum profit using the right structure, operating systems, and staffing to make it all possible. Hope to see you there! This was originally published in the weekly AMI newsletter. To subscribe, click here.
When I talk to agency owners about their employees, one of the common frustrations I hear is that they’re not strategic enough. Many owners feel like they have to stay in the day to day mix with clients because they’re the only ones who can develop fresh strategies and direction. In our AE Bootcamps, I teach the attendees to be nosy. We make so many assumptions about our clients’ businesses. But if we had to prove our assumptions, we’d be in trouble. The best and most strategic thinkers I know are the ones who ask the most (and most interesting) questions. I think agency people need to be good at sticking their noses into our clients’ operations. We should care about, wonder about and ask about everything from how billing is handled to packaging to who answers the phone. It’s all marketing. A great and easy exercise to do is to pull together your team (by accounts they work on) and make an extensive list of what you really don’t know about that specific client. Go into every aspect of their business from sales to production to distribution and operations and dig deep. Then, share them with your client and work on ways you can learn the answers. You’ll be amazed at how appreciative your client is, the things you’ll uncover and how much smarter your work will be. Teach your employees how to be nosy. Encourage them to go way beyond the questions on the creative brief. Celebrate when they start asking questions you hadn’t thought of. And best of all — watch how strategic they get.
One of the best compliments my agency ever received came from a client who said he never felt like we had our hand in his pocket. We were putting his interests ahead of our own. And while that’s a great way to build trust, it’s not sustainable. They always want a little more. Sure, it indicated we were satisfying our client, but if clients are satisfied with your work, you may be in trouble. Clients don’t want to be “satisfied” with their marketing agencies. They want to be wowed. And that means they want to be over-serviced. That’s a very fine line we walk. There’s a danger there. Offer too much, and you could be hurting your agency’s future. I explored that very thin line in an article for Spin Sucks (Gina Dietrich’s excellent site) and identified some ways you can dance on the line without crossing over to the dark side of actually giving away your work. I’d welcome your input into this challenge that every agency faces. Now that we've passed the halfway mark for the year, I know you’ve got a ton of items on your To Do list before year-end. But I also know you can get worn out from grinding it out 24/7. Be sure you take some time for yourself. Replenish your energy by sharing the Fourth of July holidays with those you love. Invest in those relationships that have nothing to do with your shop or the pile of work on your desk. The work will be there when you get back from some R&R.
Content Marketing Institute just released a new study, asking agencies about what content marketing services they offer, where they are having success and where they’re still banging their head against a wall. The data is based on 197 respondents, with 71% being US based and 61% of the respondents being owners/partners. There were several takeaways of note in this research and some of it supports what I am seeing among the agencies we serve and some of it makes me scratch my head and wonder a little bit. The results certainly support the idea that content marketing is not new. I’d argue that we’ve always been in the content business, we’ve just changed up the packaging over the years and decades. No great surprise — agencies are reporting that clients of all sizes are seeking help with their content. This isn’t going to change any time soon — and that’s good news for all of us. More surprising is that 73% of the agencies said they were extremely/very successful in achieving their client’s content marketing goals. Given the challenges that I hear agency team members talk about every day (getting the content, getting approvals, getting clients to see the long tail play off content, appropriate pricing related to expectations, etc.) I question this number. I’m sure it’s accurate from the research’s POV — I just wonder how those agencies are actually defining their client’s goals. I also wonder if our clients have the right goals. How often have you heard a client express frustration because their content isn’t driving immediate sales? Have we helped them really think through a content strategy that is big and bold enough? Or is it just a two blog [...]