The Innovative Agency

90% of consultants and agencies in the US are between $300,000 and $3 million in revenue.   If you’re in that bucket and you’re listening to this, what would you do $1 million of free flowing cash flow each year?   If you don’t think that’s possible, you’re probably stuck in a traditional agency revenue model.   In this episode of The Innovative Agency, I interviewed Jeff Pedowitz, President and CEO at the Pedowitz Group, about innovation around agency pricing models.   What we talked about: - What’s broken about the traditional revenue model - How value-based pricing works - 3 myths that keep agencies from unlocking passive revenue - Salons and tiered subscriptions   Check out this resource we mentioned during the podcast: - Pedowitz Group’s Revenue Marketing University   To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or on our website.

Connecting with others through compassion and empathy...   Nobody thinks you’re a jerk when you’re trying to do this.   In fact, people will deeply appreciate your human-focused leadership if you practice this mindset during good times and bad.   In this episode, I had a timely interview with Darren Magarro, Founder and President of DSM, about leadership during a crisis.   What we talked about: - Where to invest (people) - Knowing your goals - You won’t be judged on how you’re knocked down but how you get back up - The mindset of a leader   Check out this resource we mentioned during the podcast.   To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or on our website.

The advent of 5G has enhanced what was already a trend in marketing: Video consumption. Video traffic is anticipated to account for 82% of all IP traffic by 2022 — which puts us up from 75% in 2017.   Agencies need to be having the conversation right now about developing a 5G brand strategy. (Because if we aren’t, someone else is.)   In this episode of The Innovative Agency, I discuss all things 5G with Katie Patterson, Founder and CEO of Happy Medium, a full service digital marketing agency headquartered in Des Moines, Iowa, the 20th city in the U.S. to have 5G.   What we talked about: - The ramifications of 5G on the consumer experience - The end of single-use ads - The explosion of data and the Internet of Things - Top tips for developing a 5G brand strategy   To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or on our website.

Transforming your agency from a long format agency to one focused on data analytics is a long, involved process.   It takes about 15 years, to be exact.   In this episode, I interview Jessica Hawthorne-Castro, CEO of Hawthorne, a national agency based in Los Angeles.   What we talked about:   - Your employees are your customers, too   - Why agency transformation takes 15 years   - Challenges to transformation   - How to be strategic when implementing change To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or on our website.

Having first-party data is one thing, but knowing what to do with it is another.   On a recent episode of The Innovative Agency, I interviewed Andrew Eklund, Founder and CEO of Ciceron, a digital agency that blends media, creative, and data. We talked about digital marketing today and how to navigate privacy in an online context.   What we talked about:   - Developing tech solutions out of necessity   - The generational shift in leadership   - Why people actually don’t hate advertising   - 3 tips that Andrew frequently gives about data To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or on our website.

About 15% of 2020 is already gone — making this the perfect time to review our plans and think about what’s working and what’s not.   In my view, this was a masterclass episode in strategies that are evergreen and strategies to reevaluate.   I got to sit down with Patricia Beitler, President at Velocitas, and Abigail Sierra, Director of Content Strategy at Velocitas, to talk about trends in marketing that are actually working for agencies.   What we talked about:   - 3 strategies that the average B2B company should just toss   - 3 classic strategies that will endure beyond 2020   - Video gives potential customers a way to meet you before they meet you   - Video and email campaigns are meant for each other   To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or our website.

As a small, recently founded agency, committing to a growth strategy can be intimidating, to say the least.   More than likely, you’re going to overanalyze instead of choosing a strategy and executing on it.   Recently on The Innovative Agency, I interviewed Grayson Lafrenz, Founder and CEO at Power Digital Marketing, about agency growth and what prevents it.   What we talked about:   - The 5 pitfalls that hinder your growth...   - And 5 ways to grow your business   - How much of your time should be spent on RGAs   - How fast star talent will pay for themselves   - The 4 pillars of diversifying deal flow   To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or on our website.

The age-old dilemma: how to build an agency that makes sense for you plus makes you attractive to your clients.   Arguably the best form of marketing is to pay for your marketing after you get your customer. Also known as performance-based marketing.   In this episode, I interview Robert Glazer, Founder and CEO at Acceleration Partners, about how to implement performance-based marketing in the agency world.   What we talked about:   - Robert’s litmus test for whether a firm is best-in-class   - What it takes to do affiliate program management   - The differences between newer agencies and traditional digital agencies   - Challenges to rapid growth for performance-based marketing   Check out these resources we mentioned during the podcast:   - Robert wrote Performance Partnerships about affiliate marketing   - The Friday Forward podcast   To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or on our website.

Ad agencies aren’t known for taking things slowly or being highly conservative. At least, a lot of the best ones aren’t.   Is that growth all coincidence, or does it stem from a carefully plotted strategy?   In this episode, I interview Scott Harkey, Cofounder and Managing Partner at OH Partners, about strategies for agency growth.   What we talked about:   - How corporate leads and managing partners are alike   - Agency organization and his choice to be a house of brands   - Tactical strategies for agency growth, including…   - 3 tips for staying opportunistic while having an overall growth plan   To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or on our website.

If you hear ROI, you’re either groaning or super excited.   These are the 3 letters that most agency owners talk about, regardless of whether their return on investment philosophy is a source of joy.   In this episode, I interview Mike Krass, co-founder and CEO at MKG Marketing, about why he loves having the ROI conversation with clients, prospects, and teams.   What we talked about:   - Choosing measurable metrics & client verticals   - Doing vetting and discovery with scorecards   - Why agencies really get hired. To hear more from Innovative Agency owners, listen to The Innovative Agency podcast on Apple Podcasts, Spotify, or on our website.