With new client acquisition at an all-time low, it’s more important than ever to focus on growing your existing client base. In fact, 60 to 70 percent of your net new revenue should now come from existing clients to continue being profitable.
This means it’s time to teach your AE’s how crucial it is to know how to navigate agency math, foster agency growth, and sell new, innovative ideas to your existing clients. Many AEs don’t realize it’s their job to do these tasks, which means there’s room for improvement from agency owners to teach them these skills so your agency can continue to grow in a difficult economic time.
In this episode, we’ll cover topics like the roles AEs play in agency growth and growing existing clients, how to adjust your work scope over time to remain profitable, the importance of bringing innovative ideas to your clients, and many more actionable items for your team to learn and grow from.
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.
What You Will Learn in This Episode:
- How to get 60 to 70 percent of your net new revenue to come from existing clients
- The cost of acquiring new clients over growing existing ones
- How to adjust a growing work scope with a client over time
- The importance of teaching AEs agency math and how we make money
- Where AEs need to step up to help grow the existing client base
- Allowing clients to talk about the problems they need to be solved
- How we frustrate our clients by being too timid
- Being a catalyst for bringing experts together to solve your client’s problems
There’s more M&A activity amongst agencies than ever before. As agency owners get older and running the business becomes more stressful, many owners are running out of gas and looking for a reset. This means there has never been a more perfect time if you’re looking to buy an agency. And if you’re looking to sell, it might go faster than you anticipate.
We know that M&As are stressful on both sides of the deal, no matter how much you plan ahead. So this week, we’re taking a deep dive into the whole process — how far in advance to plan your sale, valuation, succession planning, dealing with the emotions behind it, and much more.
Even if you’re not planning to sell your agency right now, eventually, this will become a reality, and it’s always better to be ahead of the curve. So don’t miss this longer episode packed with tips for passing the torch and preparing for the future of your agency.
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.
What You Will Learn in This Episode:
- Why M&A activity is so high right now
- The strongest factors that will determine agency valuation
- How to assess your agency valuation
- Preparing 3-5 years in advance for an M&A
- Passing the torch to a new owner and being the buyer’s cheerleader
- Giving your employees the opportunity to be an internal buyer
- Preparing for an M&A for both a buyer and a seller
- Expenses to expect when preparing for a sale on both sides
Does your agency have what it takes to provide best-in-class service to your clients? According to Susan Quinn’s research, there are 9 traits that an agency should have in order to get there.
It’s not always about being the fastest or having the best prices. In fact, it’s almost never about price when you’re providing top-notch service. What it ultimately comes down to is living by your agency’s core values, innovation, and an intense focus on quality.
Susan Quinn and her team have been living by these traits so well that they began studying them to find out just what makes the best client experience and best-in-class service. So, if you’re ready to take your agency to the next level and partner with next-level companies, tune in to learn how they constantly improve their client experience and how you stack up against the competition.
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.
What You Will Learn in This Episode:
- The basis for the research about the 9 traits of agencies with best-in-class service
- Breaking down each trait
- Why adopting the 9 traits will set your agency up for continued growth
- How Susan’s agency conducted their research
- The 3 ways C-Suite employees categorized their best-in-class status
- How niching down has changed Susan’s agency over decades
- The importance of partnering with other agencies with the same core values
- Why you and your agency should always be learning and innovating
Do you know the “why” behind the work you do? If not, it might be time to find out. Understanding the motivation behind why we show up and feel connected to our work is key to personal happiness and effective interpersonal communication.
As it turns out, there are nine “whys” that we could categorize ourselves into that affect agency communication and connectivity. Knowing where we fall on that spectrum, especially as agency owners, can remove blocks and help your agency reach its goals faster and more effectively than doing things the same old way we always do them.
If your agency has a lot of goals, but the team sometimes struggles to execute them, it might be time for the “why” mindset strategy that our guest, Linda Perry, is teaching us about in this episode. Because at the end of the day, your people are your greatest asset, and knowing how to communicate with them how they receive it best is a recipe for success.
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.
What You Will Learn in This Episode:
- The mindset perspective that helps agencies reach their goals faster
- Getting to the bottom of limiting beliefs that prevent us from growing
- The what, the why, and the how for better agency communication
- Creating connectivity between agency owners, leadership, and team members
- The agency owner’s responsibility is to create moments of connection
- How to navigate different “whys” and assign tasks accordingly
- How the “why” mindset strategy aligns with the agency’s mission, vision, and values
- Understanding a client’s “why” for better sales strategies