During the spring gatherings of AGI owner peer network members, I walk them through a presentation on trends that I’m seeing in the industry. Then I devote two solocast episodes to these findings later in the summer.
In episode 195, I covered what’s happening with agency money and finance, along with some trends in ownership, decision-making, and how you and your peers are managing the pace of change in this industry.
In this episode, I talk about employees, clients, and some tactics with which agencies are having great success in terms of winning clients and serving them well.
If the topic of employees gives you a queasy feeling, you are not alone. It’s a big source of concern for many agency owners. I discuss trends I’m seeing in why retention is such a challenge and what you can do to make your agency the best option for employees you don’t want to lose.
What’s happening on the client-side? There are some really interesting findings. I discuss creative ways in which agencies are gaining more clients and more billables from existing clients.
What You Will Learn in this Episode:
- Why freelance work is becoming more common and more of a draw to your current employees
- How to increase diversity in your agency
- What employees are looking for in agency culture
- How to set up an attractive incentive program
- What agencies are doing to counteract clients doing more work in-house
- The most in-demand work with which agencies are engaging clients and for which they are being well-compensated
- The four traits that will get you on a client’s radar
- How agencies can help clients take a stand on the issues that are important to them and their customers
The Golden Nuggets:“What are your company values, and how are they lived out in the company culture? Your employees are watching and want to know.” – @DrewMcLellan Click To Tweet “Diversity matters from both a recruiting perspective and a client retention perspective. A lack of diversity will be noticed.” – @DrewMcLellan Click To Tweet “One area that employees care about, and that agencies need to get a better handle on, is how to articulate and live out a shared set of values as an organization.” – @DrewMcLellan Click To Tweet “Do not hire a breathing body just because you need a body. You know what that costs you and your agency. Resist the temptation.” – @DrewMcLellan Click To Tweet “Clients want agencies to get faster in managing their systems and processes so projects get turned around more quickly.” – @DrewMcLellan Click To Tweet
Drew McLellan is the CEO at Agency Management Institute. He has also owned and operated his own agency since 1995 and is still actively running the agency today. Drew’s unique vantage point as being both an agency owner and working with 250+ small- to mid-size agencies throughout the year gives him a unique perspective on running an agency today.
AMI works with agency owners by:
- Leading agency owner peer groups
- Offering workshops for owners and their leadership teams
- Offering AE Bootcamps
- Conducting individual agency owner coaching
- Doing on-site consulting
- Offering online courses in agency new business and account service
Because he works with those 250+ agencies every year — Drew has the unique opportunity to see the patterns and the habits (both good and bad) that happen over and over again. He has also written two books and been featured in The New York Times, Forbes, Entrepreneur Magazine, and Fortune Small Business. The Wall Street Journal called his blog “One of 10 blogs every entrepreneur should read.”