One of the more interesting takeaways from the research we have done over the years is the juxtaposition between two beliefs that our clients have about account executives. The first was that about a third of the respondents felt that AEs were too pushy when it came to sales and that was off-putting. But that same group of clients expected (not wanted) their account exec to bring them new opportunities. How our AEs sell matters. When they go at a client in the context of their business challenges and an opportunity that their business can take advantage of — it’s welcome. When they go in talking about agency services or new “stuff” that we can make for them, it feels like a pushy sales effort. I know that you know the difference. I know that you can have that level of conversation. But you can’t be the only person in your shop who is capable of doing that. How are you helping your AEs learn the language of business? Are you encouraging them to spend time on the factory floor, so to speak? (You can’t always bill for this time but it always comes back to you) Are you sending them to your client’s big industry trade show so they can listen to the speakers, walk the exhibit floor and absorb the business? Are you surrounding them with the trade pubs your clients are following? Are you having these sorts of strategic discussions in your one-on-one meetings? This level of learning will not happen by accident. And while some of your account execs will intuitively understand they need to do this work, others will not. You’re going to have to not only show them what [...]
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.
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.
When I started my own agency is 1995 I was about 30 and the perfect combination of arrogant and ignorant. “How hard could running an agency be? If you knocked it out of the park for your clients and delivered results, everything fell into place, right?” As you might imagine, that blissfully ignorant attitude got a very fast course correction. I learned very quickly that being an agency person and running an agency were two very different things and I’d better learn how to run a business if I wanted to survive. One of the truths that quickly became apparent was that whether you are a one-man-band or have 500 employees, the numbers matter. Most of you are probably tracking the basics like gross billings and hopefully AGI. I’ve previously talked about the AGI ratios and how that money should be divided amongst your people expenses, overhead and profit. If you’re not monitoring those — get on it and get on it now. But those metrics are not enough. There are some other indicators that will tell you very quickly how healthy your agency is/isn’t and what you need to do to get back on track. An article I wrote on this topic for Hubspot’s blog back in 2016 is as relevant today as it was three years ago. In that article, I identified 5 overlooked metrics that every agency owner should be monitoring. By the way, you shouldn’t be the only one watching these metrics. Your Account Execs should play a role too. At our AE boot camps, we help your AEs understand how they can help the agency get stronger, more profitable and understand what you need from them every day. We’ve got [...]
Let’s face it, having a nice client who doesn’t complain and just chugs along is a relief, now and then. But what if that nice client is simply non-confrontational and is actually unhappy? Where are they venting that frustration and will their silence precede you being surprised to learn that you’ve lost the business? It’s important that your account people (and you) understand how to get those clients talking, draw out the feedback that you need and actually build more honest rapport in the relationship. Chief Marketer asked me to explore how to recognize a Nice Guy client and how to get them to open up so you really know where you stand and how you can strengthen the relationship. Check it out and let me know what you think. Our September workshops, AE Bootcamp and our Advanced AE Bootcamp are getting close to maxing out. If you want to grab a spot — do it quick!