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A bad fit pinches

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 [...]

Do you treat yourself with respect?

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.

You still have time

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 [...]

Should you stop talking dollars and cents with clients?

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.

Does diversity matter?

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.

The fine line between value add and over servicing

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.  

Stop talking about yourself

I spend a lot of time in various agency conference rooms, critiquing their new business pitches. The invitation to do that usually comes after a streak of “we loved you, buts” or worse — not even making it to the final face to face meeting stage. The truth is — you are pitching your agency every day, whether it’s a formal review where you put on a suit and stand up in front of a committee or you’re sitting across the table from a prospect talking over coffee. Whatever the circumstance — the biggest (and most common) mistake agencies make is that we’re so enamored with our fill in the blank (proprietary process, programmatic prowess, award-winning creative, etc.) that we forget that is not what the prospect needs. They need results. They need proof that their marketing dollars are working. They need leads and sales. Go grab your last three proposals/pitches (word docs, PPT — whatever the format) and give yourself a score. How often do you talk about your agency (our work, our results, our team, our process, etc.) versus the tangible results that the prospect can reasonably expect if they hire you? If you’re honest and your proposals look like most — you are not going to get a passing grade.

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