When you’re busy running an agency, it can be hard to take a step back to see broader trends. What is currently happening and what is on the horizon regarding client relationships? What tactics and deliverables are hot and making agencies money? This is the second part of a discussion I started last month about the we’re tracking at AMI.
One of the best aspects of our work with agency owners from all over the world is that it affords me perspective. In episode 140, Top 2018 Agency Trends Part 1, I talked about trends that were related to money and the changing structures of our teams. And in this episode, I’m going to talk about the trends that I did not have a chance to get to in that episode.
What you’ll learn about in this episode:
- How retail-facing companies are transitioning those skill sets into B2B space
- Why big consumer brands are decreasing their marketing spend and what it might mean down the road for small to mid-sized agencies
- The continuing rise of video and how to avoid the urge to over-produce video content
- Why clients are coming back to integrated agencies after splitting their marketing dollars among smaller agencies focused on narrow tasks
- What tactics and deliverables are earning agencies solid revenue in 2018
- The rise of influencer marketing
- The fascinating ways in which voice is changing search and how to stay on top of the trend
- The love/hate relationship we all have with chatbots and what that might mean for their future
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.”
The Golden Nuggets:“Clients are beginning to pull work in-house focused on real time or near real time. I’m seeing clients staff for social media and ratings/review management in-house.” - @DrewMcLellan Click To Tweet “It pays to develop cordial working relationships with other agencies that compliment your work instead of throwing each other under the bus.” - @DrewMcLellan Click To Tweet “Video keeps getting bigger and it keeps getting cheaper. But that does not mean it isn’t incredibly profitable for agencies.” - @DrewMcLellan Click To Tweet “Five years ago, nobody had an Alexa in their kitchen. Now, voice-activated devices are everywhere in our world. This is a huge, and yet almost unnoticed cultural shift that has huge implications for agencies.” - @DrewMcLellan Click To Tweet “When it comes to producing video content, the thing that gets in the way of this very profitable work is our own sense that it is not good enough.” - @DrewMcLellan Click To Tweet “Voice activated devices are changing the way we communicate and the way we search for information. This change is going to be as significant as mobile was.” - @DrewMcLellan Click To Tweet “A year from now, I am going to know a lot of agencies that are doing a lot of work in voice-optimized content because I think it's going to come like a freight train.” - @DrewMcLellan Click To Tweet “Agencies underestimate influencer marketing when putting together budgets for clients. Agencies need to price more accurately & take into account the nuances of working with influencers who for the most part, are amateurs.” - @DrewMcLellan Click To Tweet
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