Agency people are lifelong learners. If you aren’t — odds are you will be “counseled” out of your role if you don’t own the joint and pushed out of the day to day, if you do. We can’t afford to stop learning in our world. It’s simply changing too quickly and to keep up, we have to make learning a priority. What I love the most about AMI is that in everything we do — you are learning from people who are actively involved in agency life. I’ve owned my shop for 25+ years and am still active there. Craig (who runs our Key Executive networks and the Virtual networks) also still has an agency and has been an owner for 27+ years. But that’s just the tip of the iceberg. The best aspect of AMI is that owners who attend our workshops, network meetings, webinars, etc. — are all both students and teachers. I love how owners are so quick to offer to share resources, forms, best practices, and connections with other owners. That spirit is the best of AMI and of our profession. If you don’t have a posse of other agency owners/leaders — I implore you to find one. If AMI works for you, great. If not, seek it somewhere else. But do not fight the fight alone. Looking for some places to learn from other agency owners/leaders? Build and Nurture your Agency's Sales Funnel— January 21/22 in Orlando on WDW property Running Your Agency for growth, profit & a little sanity — April 6/7 in Chicago Advanced AE Bootcamp –August 17/18 in Chicago AE Bootcamp — September 14/15 in Chicago Money Matters for Agency Owners — Dates TBD We’d love to help [...]
A couple years ago, I updated my OS on my laptop and it literally ate any email sent to/from me after 2015. I went through several weeks of trying to get back to all of the people who had emailed me and never heard back. They probably thought I had no manners but I promise — I was raised better than that. This illustrates a point that I teach regarding email. We depend on email too much and we assume it’s more reliable than it is. Which is ironic, given our own inboxes and how much clutter we dodge throughout the day. I was talking to an agency owner the other day and she was lamenting that their new business efforts are falling flat. As she described their efforts it was pretty clear that the problem was they were tossing the ball into the prospect’s court by email and then just waiting for it to bounce back. This is also a huge problem with your AEs. In our AE Bootcamps, one of the best practices I stress is not to just use email to shift the burden to the client/check the item off their To-Do list. Your AEs need to be adept at quickly accelerating a conversation beyond email. If you’re not coaching to the advantages and foibles of email with your team, you should be. If you’re not building out a more robust communication matrix with prospects and clients, you should be. If you would like your AEs to learn more about this best practice as well as many others, there is still time to sign up for one of our virtual AE Bootcamps here or here! This was originally published in the weekly [...]
I totally get it. You’re busy putting out fires, delivering high-level strategy for your clients and trying to mentor and grow your team. Who has time for new business? This is one of those head versus heart things in agency ownership. You know you need to devote more time to new business but somehow something always pushes those best intentions aside. I’m here to tell you — you cannot afford to let your biz dev efforts ebb and flow. The only way it works is if you keep your foot on the pedal every day. MediaPost asked me to talk a little about this issue and how agency owners can overcome the lure of “I’ll do it tomorrow.” As always, I’d welcome your feedback. In January, we had one of the best live workshops we’ve ever had — and it was two days of talking about nothing but new business strategies with two agency search consultants who see agencies at their best and their worst. They were so generous with this knowledge and insights that everyone walked away raving about the content. In fact, it was so awesome that we’re doing it again next January. It’s going to sell out for sure — so if you want to do a deep dive on biz dev, check out the workshop and get your spot before they’re gone. However you fire yourself up and inspire yourself — let 2020 be the year that you finally embrace your role as Chief Prospect Hunter!
There’s a talent shortage in the agency business. I can’t remember a time in recent years when agencies were hiring as much as they are today and having as much trouble finding the right fit employees. You’ve heard the adages about the costs of a bad hire and, if anything, they underreport the costs. But today, those costs are even greater because not only does the bad employee do incredible damage to your shop — they also leave a gaping hole that’s tough to fill. Unfortunately, in most cases, our bad hires are our own fault. We’re horrible interviewers. We talk way too much and we spend more time trying to convince the candidate that our agency is a wonderful place to work than we do discerning if this candidate will serve us, our team and our clients. We also don’t test the candidates well. iMedia asked me to expand on that idea in an article about how to get interview tests right. I’ll be curious to hear your thoughts. If our hiring practices could use some work, our onboarding could absolutely use an overhaul! Once you get a team member who is dedicated, committed to your team and clients and is hungry to keep getting better — don’t just bury them in work. Our research talking to over 950+ agency employees showed us that the #1 factor your employees consider as they decide whether or not to stay with you is if you’ve offered them educational opportunities. At AMI, we’re always looking for ways to help you build the team you already have. Our Advanced AE bootcamp gets rave reviews so if you want to enhance the skills of your AE crew — it’s [...]
Business development is a challenge on many levels. If you don’t have every base covered...being good at all the other aspects may not be enough. Many agencies have not defined their sweet spot client — so they don’t bother chasing after prospects that aren’t a good fit Most agencies don’t have a consistent new business machine that is actively and regularly touching prospects and working a targeted list The lion’s share of agencies have a great win rate with smaller, less profitable clients but struggle to win with “stretch” prospects that could really change their agency and help them elevate their game About 50% of agencies do not have a retention program to actively and intentionally keep and grow their best clients A weakness in any of these areas can really compromise your efforts overall. As you begin to plan for 2020, having a holistic business development plan of attack (with action items, a calendar and most important — regular accountability meetings) may be one of the most important aspects of your vision for the next year. It’s not too early to start working on this. If you’re getting at-bats but not winning or if you’re not getting invited to the pitches/opportunities that you think you should be, we’ve got a great two-day workshop for you. AMI is partnering with the agency search firm Mercer Island Group to help you work all the bugs out of how you chase new business. These guys see proposals, RFP responses and live pitches from agencies big and small. They’re going to give you a sneak peek into the mistakes that you’re making, the missteps of agency positioning and so much more. This is a very hands-on, work ON [...]