3 Essential Financial Benchmarks for Agencies with Jon Morris

“Marketing really is your greatest sales enablement tool.” 

The question is, are you spending enough on marketing to impact growth? How much even IS enough for a digital agency? Luckily for you, today’s guest comes equipped with answers to all of these and so much more. 

Meet Jon Morris, Multipreneur, Founder and CEO of EngineBI. He joins the show to bridge the gap between marketing, sales, and consistent agency revenue. His newest venture helps agencies scale their growth through solid financial infrastructure and strategic funds allocations, so there isn’t a better person to talk agency numbers with!

Having sold his previous business back in 2020, Jon also sheds light into topics like mergers and acquisitions to share what typical buyers look for, and how agency owners can position their business for a potential sale.

Finally, let’s give the audience a little teaser of what’s in store if you listen to Jon’s wisdom. 

“There are only three agency metrics that matter; you need to be growing faster on a year-over-year basis, increase your profit as a percentage of revenue, and grow your cash relative to monthly overhead.”

 

Here’s what Corey and Jon cover:

• How sometimes referrals might not be the right size fit and what to do about it.
• How to approach hiring sales based on what kind of skills you need in the team.
• Why vertical marketing strategy is a must for attracting business.
• What percentage of revenue you need to spend on marketing and sales.
• Financial basics agencies need to understand and track.

Here are some actionable key takeaways for agency founders:

• Partner with friendly companies that complement your business to drive referrals.
• Grow your minimums to make more revenue without having to take on lots of new clients.
• Think of what you can offer of value to your prospects rather than asking for a meeting.
• If you’re looking to get acquired, think of how you can show your revenue multiple potential.
• Build a system of tracking key revenue and financial metrics to maintain a healthy business. 

This episode covers topics like M&A, revenue growth, agency marketing, and agency financials.

The resources mentioned in this episode are:

• - Connect with Jon on LinkedIn Here
• - Learn About EngineBI Here
• - Download EngineBI’s Financial Planning eBook Here

 

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