Lately, agency owners and leaders have been hitting their heads against a biz dev brick wall. With increased sales cycles, difficulty getting clients to start projects, tightened budgets, and more, it seems like we’re in a cycle of never-ending struggle.
Even if the future looks bleak, there are always more things that can be done and new strategies to try to help push through a difficult time. That’s why now more than ever, it’s critical for agency owners and leaders to track certain metrics to ensure you’ll end 2023 in the black, even as everyone is seemingly tightening their belts.
This week, I’m sharing five metrics you should be tracking with your teams to ensure you’re making the right strategic decisions during heightened hardship. From taking a closer look at your numbers to ensuring client satisfaction, we have the tools to help you end the year in the black against all odds.
For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and its profitability through agency owner peer groups, consulting, coaching, workshops and more.
A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here.
In This Episode:
- Tracking your 55-25-20 AGI metrics more closely
- Deciding where to move money around to keep good employees
- Doubling down on biz dev efforts
- Getting your existing clients to spend more money on you
- Why AEs should be helping to grow the existing client base
- Why client satisfaction scores are more critical than ever
- Good employee retention sends a positive message to customers