top10 mistakes growing marketing agencies make
TRANSCRIPT
TOP 10 MISTAKES
GROWING MARKETING
AGENCIES MAKE
2
Top 10 Mistakes
Growing Marketing
Agencies MakeA GUIDE FOR MARKETING AGENCIES AND OTHER PROFESSIONAL SERVICES FIRMS
Introduction
You’re living the dream.
7KDW�OLWWOH�DJHQF\�\RX�VWDUWHG�LQ�\RXU�NLWFKHQ�LV�WDNLQJ�ȵLJKW��$OO�WKRVH�QLJKWV�DQG�ZHHNHQGV��DOO�WKRVH�5DPHQ�1RRGOHV��DOO�WKRVH�SLQFKHG�SHQQLHV�DUH�SD\LQJ�R�
7KH�DJHQF\�LV�QR�ORQJHU�\RXU�KRXVH��WKRVH�IUHHODQFHUV�DUH�QRZ�HPSOR\HHV�DQG�WULSV�WR�.LQNRȇV�KDYH�EHHQ�UHSODFHG�E\�D�IXOO�FRORU�ODVHU�FRSLHU� :LWK�KDUG�ZRUN��VNLOO�DQG�OXFN��WKH�DJHQF\�Ȃ�\RXU�DJHQF\�Ȃ�LV�JURZLQJ��7KH�SKRQHȇV�ULQJLQJ��3HHUV�DUH�UHIHUULQJ�EXVLQHVV�\RXU�ZD\��7KH�EXGJHWV�DUH�JHWWLQJ�ELJJHU��%XW�GRQȇW�UHOD[�TXLWH�\HW� :KLOH�WKH�FKDOOHQJHV�RI�VWDUWLQJ�D�PDUNHWLQJ�DJHQF\�KDYH�IDGHG��WKH�FKDOOHQJHV�RI�JURZLQJ�DQ�DJHQF\�KDYH�MXVW�EHJXQ��7KDW�PHDQV�D�PRUH�FRQVLGHUHG�DSSURDFK�WKDQ�ZKHQ�\RX�ZHUH�WKH�VFUDSS\�QHZ�NLG�LQ�WRZQ� 7KHUHȇV�QR�VXUH�URDGPDS�WR�VXFFHVV��EXW�WKHUH�DUH�PLVWDNHV�WKDW��LI�DYRLGHG��FDQ�PDNH�\RXU�WULS�smoother.
7KHUH�RQFH�ZDV�DQ�DJHQF\�WKDW�SLWFKHG�D�PDMRU�DFFRXQW��HYHQ�WKRXJK�WKH\�ZHUH�WROG�WKH\�ZHUH�DQ�XQGHUGRJ��ΖW�FRVW�WKHP�D�FRQVLGHUDEOH�DPRXQW�RI�WLPH�DQG�PRQH\�WR�SUHSDUH�IRU�WKH�SLWFK��EXW�PDQ�DJHPHQW�IHOW�WKH�LQYHVWPHQW�ZDV�ZRUWK�LW��:LQQLQJ�WKLV�DFFRXQW�ZRXOG�WDNH�WKHP�WR�WKH�QH[W�OHYHO�
/RQJ�VWRU\�VKRUW��WKH�FOLHQW�VKRZV�XS�RQH�GD\�ZLWK�FDNH�DQG�FKDPSDJQH��7KH\�ZRQ��ΖW�ZDV�WKHLU�dream coming true. Then reality reared its head.
Ȋ$V�Ζ�ZDV�VLSSLQJ�FKDPSDJQH�LW�RFFXUUHG�WR�PH�WKDW�ZLQQLQJ�WKH�EXVLQHVV�SXW�XV�EDFN�DW�VTXDUH�RQH�ȋ�UHFDOOHG�WKH�DJHQF\�&(2��Ȋ:KDW�ZHȇG�ZRQ�ZDV�WKH�SHUPLVVLRQ�WR�GR�WKH�ZRUN�ȋ�+H�SXW�GRZQ�KLV�JODVV�and got busy.
:LQQLQJ�D�QHZ�DFFRXQW�LV�OLNH�SUHSDULQJ�WR�ZLQ�D�����\DUG�GDVK�DQG�WKH�SUL]H�LV�EHLQJ�DOORZHG�WR�UXQ�D�PDUDWKRQ��7RR�PDQ\�DJHQFLHV�HDVH�XS�DIWHU�WKH�ZLQ��ΖW�PLJKW�EH�IDWLJXH�IURP�ZRUNLQJ�VR�KDUG�WR�ZLQ�the business. It might be arrogance.
3UHWHQG�\RXȇUH�WKH�FOLHQW��:KLOH�\RXȇYH�EHHQ�SUHSSLQJ�WR�SLWFK�WKHLU�EXVLQHVV�WKH\ȇYH�IHOW�VWXFN�LQ�QHX�WUDO��%\�WKH�WLPH�WKH\�DZDUG�WKHLU�EXVLQHVV�WKH\ȇUH�EXVWLQJ�DW�WKH�VHDPV�WR�JHW�JRLQJ�
<RXU�SUHSDUDWLRQ�QHHGV�WR�LQFOXGH�D�SODQ�IRU�DW�OHDVW�WKH�ȴUVW����GD\V�LI�\RX�ZLQ��6FKHGXOH�D�ȴUVW�ZRUN�VHVVLRQ�WR�FODULI\�WKH�VFRSH�RI�WKH�ȴUVW�SURMHFWV��/HW�WKHP�NQRZ�ZKR�WKHLU�FRQWDFWV�ZLOO�EH��(VWDEOLVK�WLPHOLQHV�IRU�WKH�LQLWLDO�ZRUN��<RXU�QHZ�FOLHQW�H[SHFWV�\RX�WR�KLW�WKH�JURXQG�UXQQLQJ�Ȃ�WKLV�LV�QRW�WKH�WLPH�WR�GLVDSSRLQW�WKHP�
3
Top 10 Mistakes Growing Marketing Agencies Make
RESTING ON YOUR LAURELS AFTER A NEW BUSINESS WIN
1
$ !!!
!
$$
$
#
:KHQ�\RXȇUH�WKH�QHZ�NLG�LQ�WRZQ�\RX�SUREDEO\�DFFHSWHG�EXVLQHVV�SULPDULO\�EHFDXVH�\RX�QHHGHG�WKH�FDVK�ȵRZ��2U�\RX�QHHGHG�WR�HVWDEOLVK�\RXU�FUHGHQWLDOV��2U�\RX�MXVW�ZDQWHG�VRPHWKLQJ�WR�GR�
1RZ�\RXȇYH�UHDFKHG�WKH�QH[W�OHYHO��0D\EH�FOLHQWV�DUH�NQRFNLQJ�RQ�\RXU�GRRU��6XGGHQO\�\RXU�ZRUOG�LV�IXOO�RI�ORZ�KDQJLQJ�IUXLW�DQG�\RXȇUH�WHPSWHG�WR�ȴOO�\RXU�EDVNHW�
6WRS�
ΖWȇV�D�KDUG�OHDS�WR�PDNH�EXW�\RX�KDYH�WR�EHFRPH�VHOHFWLYH�DERXW�ZKDW�WR�SXUVXH��7KRVH�FOLHQWV�ZKR�ZHUH�D�JUHDW�ȴW�IRU�D�ȵHGJOLQJ�DJHQF\�DUH�QRW�QHFHVVDULO\�JRRG�IRU�DQ�DJHQF\�WKDW�KDV�EHJXQ�WR�PDWXUH�
ΖW�IHHOV�JRRG�ZKHQ�SHRSOH�DUH�FRPLQJ�WR�\RX�ZLWK�JUHDW�RSSRUWXQLWLHV�Ȃ�\RX�IHHO�YDOLGDWLRQ��%XW�\RX�UHDFKHG�WKH�VWDJH�ZKHUH�\RX�KDYH�WR�ORRN�DW�H[DFWO\�ZKDW�WKDW�SRWHQWLDO�SLHFH�RI�EXVLQHVV�LV�JRLQJ�WR�EULQJ�LQ�
:KDW�ZLOO�LW�WDNH�WR�SLWFK�WKDW�DFFRXQW"�&DQ�\RX�SUHSDUH�DQG�FRQWLQXH�WR�VHUYH�H[LVWLQJ�FOLHQWV"�ΖV�WKHUH�WKH�SRWHQWLDO�IRU�WKLV�EXVLQHVV�WR�FUHDWH�D�FRQȵLFW�ZLWK�D�FXUUHQW�FOLHQW"�'R�\RX�UHDOO\�ZDQW�WKLV�DFFRXQW�Ȃ�RU�DUH�\RX�WHPSWHG�E\�WKH�EXGJHW"
7KHUHȇV�DQ�DJHQF\�WKDW�KDV�D�IRXU�SHUVRQ�H[HFXWLYH�FRPPLWWHH�WKDW�FRQVLGHUV�HYHU\�QHZ�EXVLQHVV�RSSRUWX�QLW\��2QH�RI�WKH�IRXU�KDV�WR�EH�SDVVLRQDWH�DERXW�WKH�RSSRUWXQLW\�Ȃ�VR�SDVVLRQDWH�WKDW�WKH\�FDQ�PDNH�D�FRQ�vincing case to the other three.
6KRZ�PH�D�JUHDW�DJHQF\�DQG�ΖȇOO�VKRZ�\RX�DQ�DJHQF\�WKDW�GRHVQȇW�FKDVH�HYHU\WKLQJ�WKDW�EORZV�GRZQ�WKH�street.
4
Top 10 Mistakes Growing Marketing Agencies Make
PITCHING EVERY NEW-BUSINESS OPPORTUNITY – GOOD, BAD OR UGLY
2#
5
Top 10 Mistakes Growing Marketing Agencies Make
KNOWINGLY TAKING ON A PROBLEM CLIENT
3%\�QRZ�\RX�NQRZ�WKHUH�DUH�VRPH�UHDOO\�IDQWDVWLF�FOLHQWV�RXW�WKHUH��7KH\�WUHDW�\RX�OLNH�D�WUXVWHG�SDUWQHU��WKH\�UHVSHFW�\RXU�FRXQVHO�DQG�WKH\�EHOLHYH�\RX�GR�PDUYHORXV�WKLQJV�
+RZHYHU��LQ�WKH�ZRUOG�RI�FOLHQW�SK\VLFV��IRU�HYHU\�IDQWDVWLF�FOLHQW�WKHUHȇV�DQ�HTXDOO\�GUHDGIXO�FOLHQW��7KH\�DUH�DEXVLYH��7KH\�PLFUR�PDQDJH��7KH\�DUH�OLNH�D�ZLOGHEHHVW�ZLWK�LUULWDEOH�ERZHO�V\QGURPH�Ȃ�DQG�WKDWȇV�RQ�WKHLU�good days.
&OLHQWV�OLNH�WKLV�JR�WKURXJK�DJHQFLHV�DW�D�UDSLG�FOLS�DQG�WKDW�PHDQV�WKH\�VRRQ�JHW�D�UHSXWDWLRQ�DV�EHLQJ�GLɝFXOW��0RVW�DJHQFLHV�DYRLG�WKHP�OLNH�WKH�SODJXH�EXW�WKHUH�DOZD\V�VHHPV�WR�EH�WKDW�RQH�WKDW�IHHOV�WKH\�KDYH�EHHQ�LPEXHG�ZLWK�VRPH�VRUW�RI�PRMR�WKDW�ZLOO�WXUQ�WKLV�HYLO�FOLHQW�LQWR�D�SXVV\FDW�
Do not let that be you. Ever.
Taking on a notorious client and thinking you can change them is like buying a Porsche ZLWK�QR�WUDQVPLVVLRQ�DQG�EHOLHYLQJ�LW�ZLOO�UXQ�MXVW�EHFDXVH�\RXȇUH�VLWWLQJ�LQ�WKH�GULYHUȇV�VHDW�
<RX�DUH�QRW�Ȋ7KH�&OLHQW�:KLVSHUHU�ȋ�'HDO�ZLWK�LW��
#
/HWȇV�VD\�\RX�KDYH�ȴYH�DFFRXQWV��HDFK�VSHQGLQJ���������SHU�PRQWK��<RX�FDQ�VHUYLFH�WKHP�ZHOO�DW�D�QLFH�SURȴW��$OO�WROG��\RX�KDYH����������JRLQJ�WKURXJK�WKH�DJHQF\�DQQXDOO\�
2QH�GD\�D�FOLHQW�ODQGV�LQ�\RXU�ODS�ZKRȇV�JRLQJ�WR�VSHQG���������HYHU\�PRQWK��ΖQ�RQH�VZLIW�PRWLRQ�\RX�KDYH�D�VLQJOH�FOLHQW�VSHQGLQJ�WKH�VDPH�DV�WKH�RWKHU�ȴYH�FRPELQHG��*UHDW�Ȃ�LI�\RX�KDQGOH�LW�LQWHOOLJHQWO\�
ΖI�\RXȇUH�QRW�FDUHIXO��WKDW�ELJ�QHZ�DFFRXQW�LV�JRLQJ�WR�HDW�\RXU�DJHQF\�DOLYH��$VVXPLQJ�LWȇV�D�JUHDW�FOLHQW��LWȇV�VWLOO�JRLQJ�WR�UHTXLUH�D�OHYHO�RI�VHUYLFH�WKDW�FDQ�HDVLO\�HURGH�DWWHQWLRQ�WR�WKRVH�VPDOOHU�ȴYH�FOLHQWV��$QG�FOLHQWV�NQRZ�ZKHQ�WKH\ȇUH�EHLQJ�VOLG�WRZDUG�WKH�EDFN�EXUQHU�
7KH�RWKHU�GDQJHU�RI�WKDW�ELJ�ȴVK�LQ�\RXU�PRGHVW�SRQG�LV��ZKDW�KDSSHQV�LI�WKH\�OHDYH"�ΖI�\RX�WUHDWHG�WKHLU�DUULYDO�OLNH�D�ORWWHU\�ZLQ��\RXȇUH�LQ�WURXEOH��'LG�\RX�FRPPLW�WR�VXEVWDQWLDO�QHZ�RɝFH�VSDFH"�'LG�\RX�GHFLGH�\RX�QHHGHG�D�OHDVHG�OX[XU\�FDU"�'LG�\RX�PDNH�D�VLJQLȴFDQW�LQYHVWPHQW�LQ�HTXLSPHQW�WKDW�\RX�GLGQȇW�DEVROXWHO\�QHHG"
2U�GLG�\RX�ORRN�DW�WKH�FKDQJHG�ODQGVFDSH�RI�\RXU�DJHQF\�FDUHIXOO\"�$GG�FRQWUDFW�WDOHQW�XQWLO�\RX�FRXOG�WUXO\�GHWHUPLQH�VWDɝQJ�QHHGV"�&UHDWH�D�VWUDWHJ\�IRU�VHUYLFLQJ�\RXU�H[LVWLQJ�DFFRXQWV�VHDPOHVVO\�DV�\RX�EHJDQ�VHUYLQJ�WKLV�QHZ�DFFRXQW"
$QG�ZKDWȇV�\RXU�SODQ�LI�WKDW�DFFRXQW�GLVDSSHDUV�DV�VXGGHQO\�DV�LW�DSSHDUHG"�6RPH�PD\�FRQVLGHU�WKDW�QHJDWLYH�WKLQNLQJ��2WKHUV�PD\�OLNHQ�LW�WR�VWRFNLQJ�D�FUXLVH�VKLS�ZLWK�OLIHERDWV��<RX�GHFLGH�
6
Top 10 Mistakes Growing Marketing Agencies Make
BEING DOMINATED BY ONE HUGE CLIENT
4#
6ZDQV�PDWH�IRU�OLIH��$JHQFLHV�DQG�FOLHQWV�GR�QRW�
)RU�DQ�DJHQF\�WR�JURZ�LW�QHHGV�WR�VHUYLFH�LWV�FXUUHQW�FOLHQWV��ZKLOH�DW�WKH�VDPH�WLPH�ORRNLQJ�IRU�QHZ�RQHV��$JHQF\�FOLHQW�UHODWLRQVKLSV�FRPH�DQG�JR�VR�D�EXVLQHVV�SODQ�SUHGLFDWHG�RQ�QHYHU�ORVLQJ�DQ�DFFRXQW�LV�D�rather leaky vessel.
(YHU\�DJHQF\�QHHGV�WR�EDODQFH�VHUYLFLQJ�H[LVWLQJ�EXVLQHVV�ZKLOH�ORRNLQJ�IRU�QHZ�FOLHQWV��0HHWLQJ�ZLWK�D�SRWHQWLDO�QHZ�FOLHQW�LV�QRW�D�WDVN�IRU�WKH�MXQLRU�SHRSOH�DW�WKH�DJHQF\��<RX�ZDQW�\RXU�WRS�SHRSOH�WKHUH�DQG�\RX�ZDQW�WKHP�ORFNHG�DQG�ORDGHG�
+RZHYHU��PRVW�RI�WKRVH�VDPH�SHRSOH�QHHG�WR�EH�OHYHUDJLQJ�WKHLU�H[SHULHQFH�WDOHQW�IRU�WKH�FOLHQWV�DOUHDG\�LQ�KRXVH��6R�GR�\RX�GHYRWH�WKH�WRS�JXQV�WR�QHZ�EXVLQHVV�RU�SUHVHQW�FOLHQWV"�<HV�
(YHU\�VXFFHVVIXO�DJHQF\�PDQDJHV�WKH�WLPH�RI�LWV�WRS�WDOHQW�VR�FXUUHQW�DQG�SRWHQWLDO�FOLHQWV�JHW�WKH�DWWHQWLRQ�WKH\�GHVHUYH��:KHUH�VRPH�DJHQFLHV�FDQ�UXQ�WKHPVHOYHV�LQWR�D�GLWFK�LV�EHLQJ�VHGXFHG�E\�WKH�QHZ�EXVLQHVV�VLUHQ�WR�WKH�H[WHQW�WKDW�UHVRXUFHV�DUH�QR�ORQJHU�WKHUH�IRU�H[LVWLQJ�EXVLQHVV�
$QG�ZKLOH�WKLV�PD\�VRXQG�OLNH�KHUHV\��WKHUH�DUH�VRPH�DJHQFLHV�WKDW�SHULRGLFDOO\�WXUQ�R�WKH�QHZ�EXVLQHVV�ȊPDFKLQHȋ�WR�DEVRUE�WKH�EXVLQHVV�WKH\�KDYH�
7
Top 10 Mistakes Growing Marketing Agencies Make
NEW BUSINESS EFFORTS CAUSE CURRENT CLIENT NEGLECT
5#
:KHQ�\RXȇUH�WDNLQJ�SURMHFW�DVVLJQPHQWV��WKH�LGHD�RI�D�UHWDLQHU�LV�WKH�3URPLVHG�/DQG��6WHDG\�LQFRPH��&DVK�ȵRZ�
+RZHYHU��WKDW�UHWDLQHU�FDQ�WXUQ�RQ�\RX��&OLHQWV�PD\�EHOLHYH�D�PRQWKO\�UHWDLQHU�LV�DQ�ȊDOO�\RX�FDQ�HDWȋ�VW\OH�VPRUJDVERUG�RI�VHUYLFHV��<RX�KDYH�WR�QHJRWLDWH�H[DFWO\�ZKDW�D�UHWDLQHU�LQFOXGHV�
7KH�LGHDO�ZD\�WR�ȴQG�WKLV�RXW�LV�E\�VLPSO\�DVNLQJ��ΖI�\RX�WKLQN�WKDW�PLJKW�EH�DQ�XQFRPIRUWDEOH�FRQYHUVDWLRQ��LPDJLQH�WKH�RQH����GD\V�LQWR�WKH�UHWDLQHU�UHODWLRQVKLS�ZKHQ�WKH�FOLHQW�LV�UHTXHVWLQJ�PRUH�ZRUN�WKDQ�WKH�UHWDLQHU�FRYHUV�DQG�\RXU�SURȴW�LV�HYDSRUDWLQJ�
ΖWȇV�ZLVH�WR�KDYH�DQ�LGHD�LQ�PLQG�RI�ZKDW�D�UHWDLQHU�DJUHHPHQW�ZLOO�HQWDLO�EHIRUH�\RX�HYHU�JHW�WR�WKDW�VWHS��ΖQWHUQDOO\��\RX�QHHG�WR�NQRZ�ZKDW�;�DPRXQW�RI�ZRUN�ZRXOG�FRVW��ZKDW�WKH�PDUNXS�RQ�WKDW�DPRXQW�VKRXOG�EH�DQG�WKHQ�PXOWLSO\�WKDW�DJDLQVW�D�FHUWDLQ�QXPEHU�RI�KRXUV��
7KH�LGHD�RI�D�VWHDG\�ȵRZ�RI�FDVK�LQWR�\RXU�DFFRXQWV�FDQ�EH�VHGXFWLYH��ΖQGHHG��VRPH�WKLQN��Ȋ:HOO��KRZ�EDG�FRXOG�LW�EH�LI�ZHȇUH�RQ�UHWDLQHU"ȋ�)URP�H[SHULHQFH��ZKDW�ZH�LPDJLQH�DV�WKH�ZRUVW�WKDW�FRXOG�KDSSHQ�LV�XVXDOO\�QRZKHUH�QHDU�WKH�ZRUVW�UHDOLW\�ZLOO�GLVK�RXW�
8
Top 10 Mistakes Growing Marketing Agencies Make
FAILING TO IDENTIFY SPECIFIC SERVICE PARAMETERS TO THE RETAINER AGREEMENT
6#
<RXU�SROLFLHV��SURFHGXUHV��WUDɝF�SODQV��SURFHVVHV�DOO�ZRUN�IRU�\RX�DV�D����PLOOLRQ�DJHQF\��:KDW�LI�VL[�PRQWKV�IURP�QRZ�\RXȇUH�D�����PLOOLRQ�DJHQF\"�:LOO�DOO�WKRVH�HOHPHQWV�VWLOO�EH�UHOHYDQW"�2U�ZLOO�\RX�EH�ORRNLQJ�DW�UHLQYHQWLQJ�WKH�ZKHHO"
<HV��WKHUHȇV�D�KXJH�GLHUHQFH�EHWZHHQ�D����PLOOLRQ�DJHQF\�DQG�D�����PLOOLRQ�DJHQF\�Ȃ�EXW�WKDW�GRHVQȇW�PHDQ�HYHU\WKLQJ�KDV�WR�EH�UHYDPSHG�ZKHQ�JURZWK�KDSSHQV��<RX�QHHG�WR�HVWDEOLVK��DW�WKH�YHU\�OHDVW��WKH�IRXQGD�WLRQ�RI�DQ�LQIUDVWUXFWXUH�WKDW�DFFRXQWV�IRU�JURZWK�
2QH�DJHQF\�FKLHI�XVHG�WR��VRUW�RI��MRNH�KH�NQHZ�LW�ZDV�WLPH�WR�KLUH�ZKHQ�KLV�H[LVWLQJ�VWD�WKUHDWHQHG�WR�TXLW��FLWLQJ�RYHUZRUN��7KDW�KXPRU�UDQJ�KROORZ�ZLWK�WKH�WURRSV�EHFDXVH�WKH�DJHQF\�GLGQȇW�KDYH�D�SODQ�LQ�SODFH�WR�JURZ�ZLWK�WKH�GHPDQGV�RI�QHZ�FOLHQWV��%\�WKH�WLPH�WKH�KLULQJ�SURFHVV�VWDUWHG��WKH�FXUUHQW�VWD�ZDV�IULHG�
ΖI�WKDW�DJHQF\�FKLHI�KDG�D�EHWWHU�LGHD�RI�ZKDW�WKH�UDWLR�RI�ZRUN�Y��VWD�ZDV��KH�FRXOG�KDYH�DGGHG�JUDGXDOO\�DQG�QRW�ZDLWHG�IRU�D�SRVVLEOH�PXWLQ\�
%\�WKH�ZD\��DUH�WKH�SHRSOH�\RXȇUH�KLULQJ�WRGD\�VLPSO\�HQRXJK�IRU�ZKDW�\RX�QHHG�QRZ"�2U�DUH�\RX�KLULQJ�WKRVH�ZKR�KDYH�WKH�DELOLW\�WR�H[SDQG�SURIHVVLRQDOO\"�7KH�RɝFH�VSDFH�\RX�KDYH�QRZ�LV�ȴQH��EXW�GR�\RX�NQRZ�ZKDW�\RXȇG�GR�LI�\RX�DGGHG�ȴYH�NH\�SOD\HUV�LQ�WKH�QH[W����GD\V"�:KHQ�DUH�\RXU�VRIWZDUH�OLFHQVHV�XS�IRU�UHQHZDO"
$�ZLQJ�DQG�D�SUD\HU�PD\�ZRUN�ZKHQ�\RXȇUH�VWDUWLQJ��EXW�LW�FUDVKHV�WR�HDUWK�DV�D�VFDODELOLW\�SKLORVRSK\�
9
Top 10 Mistakes Growing Marketing Agencies Make
NOT BUILDING SCALABILITY INTO ALL YOUR PROGRAMS
7#
6WDɝQJ�DW�DQ�DJHQF\�FDQ�EH�D�WULFN\�WKLQJ�Ȃ�HVSHFLDOO\�IRU�RQH�WKDW�KDVQȇW�KDG�WLPH�WR�VLQN�GHHS�URRWV��$�ORW�RI�DJHQFLHV�XVH�FRQWUDFW�WDOHQW�HDUO\�Ȃ�IUHTXHQWO\�KLULQJ�WKRVH�VDPH�SHRSOH�DV�ȴQDQFHV�DOORZ�
$V�\RX�EHJLQ�SLWFKLQJ�ODUJHU�SLHFHV�RI�EXVLQHVV��WKDW�FDQ�JHW�SUREOHPDWLF�EHFDXVH�PDQ\�SURVSHFWLYH�FOLHQWV�ZDQW�WR�NQRZ�ZKRȇV�JRLQJ�WR�EH�ZRUNLQJ�RQ�WKHLU�EXVLQHVV��:KLOH�VRPH�FOLHQWV�DUH�ȴQH�ZLWK�IUHHODQFH�WDOHQW��some aren’t.
+DYLQJ�DQ�LQWHUQDO�SURSRVHG�VWDɝQJ�SODQ�LI�\RX�ZLQ�WKDW�DFFRXQW�SUHYHQWV�D�PLJUDLQH�ODWHU��:KLFK�SOD\HUV�LQVLGH�WKH�DJHQF\�DUH�JRLQJ�WR�KDYH�WR�VKLIW�RYHU�WR�WKH�QHZ�DFFRXQW"�:KR�LV�JRLQJ�WR�ȴOO�WKHLU�VORWV"�:KHUH�DUH�KLUHV�JRLQJ�WR�KDSSHQ"
2QH�RSWLRQ�LV�VWDɝQJ�FRPSDQLHV��7KHLU�VHUYLFHV�FRPH�ZLWK�D�FRVW�EXW�\RXȇUH�JHWWLQJ�SUH�VFUHHQHG�FDQGL�GDWHV��VR�+5�GRHVQȇW�KDYH�WR�VWDUW�IURP�JURXQG�]HUR�ZLWK�VWDFNV�RI�UHVXPHV�
2QH�RWKHU�WKLQJ�WR�NHHS�LQ�PLQG��\RXȇUH�QRW�MXVW�PRYLQJ�FKHVV�SLHFHV��ΖI�\RXȇUH�PRYLQJ�VWD�SHUVRQ�-DNH�IURP�DQ�H[LVWLQJ�DFFRXQW�WR�WKH�QHZ�DFFRXQW��-DNHȇV�UHSODFHPHQW�EHWWHU�GD]]OH�
10
Top 10 Mistakes Growing Marketing Agencies Make
NO STAFFING PLAN WHEN YOU LAND THAT BIG ACCOUNT
8#
Most of us have several things we do well but one thing we can just knock out of the park. So when we’re a small agency we tend to hone in on our strengths and/or those things we love working on, which usually means we do great work.
But as growth occurs, clients are going to want more than what exists in your sweet spot and you KDYH�D�FKRLFH�WR�PDNH��'R�\RX�EURDGHQ�\RXU�RHULQJV�RU�VWDQG�SDW�RQ�\RXU�FXUUHQW�H[SHUWLVH�DQG�risk losing a client?
ΖI�\RX�ZDQW�WR�EXLOG�DQ�DJHQF\��\RXȇOO�PDNH�\RXU�OLIH�GLɝFXOW�E\�KDYLQJ�D�OLPLWHG�OLVW�RI�VHUYLFHV��Clients who need multiple services don’t want to have to deal with two or three shops, especially ZKHQ�WKHUH�DUH�D�QXPEHU�RI�JRRG�DJHQFLHV�ZKR�RHU�HYHU\WKLQJ�
7KLV�PD\�PHDQ�KLULQJ�WKH�H[SHUWLVH�\RX�QHHG��ΖI�\RX�FDQȇW�DRUG�WR�KLUH��\RX�PD\�KDYH�WR�KRQH�D�small skill set of yours into a big one.
11
Top 10 Mistakes Growing Marketing Agencies Make
BEING TOO SPECIALIZED AND ALIENATING YOUR AUDIENCE
9#
DOWNLOAD7 New Services to Grow Your Agency
What are you worth? What should it cost for a client to access your talent and time? These are simple questions to answer when you’re small. Once growth happens there are more considerations.
7KH�FRVW�RI�ȴ[HG�RYHUKHDG�QHHGV�WR�EH�IDFWRUHG�LQ�DORQJ�ZLWK�\RXU�WDOHQW�DQG�WLPH��ΖWȇV�YLWDO�\RX�FDOFXODWH�WKDW�ȴJXUH�EHIRUH�DQ\RQH�ZKR�PLJKW�KLUH�\RX�DVNV�DERXW�LW��7KHUH�DUH�DQ\�QXPEHU�RI�pricing structures, but four of the most common are:ȏ�Cost-plus�ȃ�FDOFXODWH�WKH�WRWDO�FRVW�RI�\RXU�VHUYLFHV��DGG�\RXU�GHVLUDEOH�SURȴW�PDUJLQȏ�Target-return — you need to know your entire investment and cost in order to calculate the priceȏ�Value-based — based on the actual value your clients will get from the product or service you sellȏ�Psychological — takes into account the clients’ perception of your pricing
And there’s another consideration: there’s nothing wrong with pricing yourself competitively; you don’t want to become the discount option by low-balling your pricing. Becoming known as the discount brand shows no respect for the agency you’re trying to build. It doesn’t earn any either.
ONE FINAL BONUS MISTAKE
$IWHU�ZRUNLQJ�VR�KDUG�WR�JHW�\RXU�DJHQF\�R�WKH�JURXQG��WKHUHȇV�D�QDWXUDO�WHQGHQF\�WR�VWRS��WDNH�D�breath and relax. And, while taking the occasional breather is always important, one thing you shouldn’t do is stop providing new and innovative services to your clients. One of those services — and, yes, this is where our sales pitch happens — might be marketing automation, which is where you provide automated systems to help your clients generate and nurture leads. Optify delivers a simple digital marketing software suite that does exactly that.
12
Top 10 Mistakes Growing Marketing Agencies Make
NOT HAVING A PRICING STRUCTURE
10#
DOWNLOADThe Ultimate Pricing eBook for Digital Marketing Agencies
Simple Digital Marketing Software
Interested? Get in touch.
Optify delivers a simple digital marketing software suite that is the industry standard for agency marketers. Our complete cloud-based digital marketing platform eliminates the need for standalone tools and empowers agencies to easily create and manage demand generation programs across multiple websites, nurture and score the hottest prospects, prioritize the highest performing programs and streamline co-branded reporting of client results - all from one login.
Our award-winning software suite includes search engine optimization, email marketing, social media marketing, landing pages, lead scoring and tracking, contact management as well as our industry unique Optify Connect. In addition, large clients and advanced implementations utilize the Optify API and deep integration with Salesforce.com for delivering custom reporting and integrated lead generation using CRM.
Optify’s agency-friendly product and pricing model enables our agency customers to quickly transition more clients from projects to retained engagements, expand the breadth of service RHULQJV��GHOLYHU�PRUH�FRQVLVWHQW�DQG�KLJKHU�TXDOLW\�SURJUDP�H[HFXWLRQ�DFURVV�FOLHQWV��DQG�dramatically reduce the amount of time spent on data aggregation and client reporting.
LEAD GENERATION
MARKETINGAUTOMATION
LEAD INTELLIGENCE
SALESENABLEMENT
CAMPAIGNRESULTS
WEBSITE WITH
OPTIFY
OUR CLIENTS
CONTACT US 206.388.4234 [email protected]
WWW.OPTIFY.NET