Smart Agency Masterclass with Jason Swenk: Podcast for Digital Marketing Agencies

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training How much automation should be integrated into your agency's processes?  When is automation a good idea, and when isn’t it? Are your agency services diverse enough to withstand a shifting market? In this interview, learn from one agency owner who has grown her agency making very conscious decisions about what she’ll need to build a business that stands the test of time. From avoiding heavy automation to building a team based primarily in the US while living in Romania, she considers all angles before making long-term plans and has pushed against some trends to find her path. In this episode, we delve into her journey and gather valuable insights on scaling an agency in the dynamic world of e-commerce. Alina Vlaic is the owner of AZRank, an e-commerce agency that offers tested and successful solutions for launching products across all e-commerce platforms. Alina shares her journey of starting her agency from scratch in 2018 and growing it to a 20-person team dedicated mostly to Amazon sellers, e-commerce businesses, and online entrepreneurs. She discusses the decisions she’s made from the start, to do what felt best for the success of her agency. In this episode, we’ll discuss: Choosing flexibility for long-term success. A global vision with a local agency approach. Expanding your agency’s toolkit to survive market shifts. Subscribe Apple | Spotify | iHeart Radio Sponsors and Resources E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service. An Unexpected Journey from Amazon Seller to E-Commerce Agency Owner As an Amazon seller alongside her husband, Alina experienced firsthand the rollercoaster ride of e-commerce - including a devastating low that nearly derailed their dreams. It was during this time that she identified a gap in the market for services that were not being offered in the way she wanted. She saw some things were still missing in the 2017 Amazon landscape and set out to create a service that would address these needs for clients. After slowly building up her clientele from just a couple of friends to a full team to continue providing services, she found herself having created a business around Amazon sales. It was time to transition from a one-woman show to a structured business and start growing a team. Bucking the Trend: Choosing Flexibility for Long-Term Success While her peers rushed to embrace every new technology promising lightning-fast results and the industry pushed for automation at increasingly higher rates, Alina took the opposite stance. Although automation could have helped her grow tenfold, she's made the conscious decision to pump the brakes on this high-speed approach. The soul of her service lies in its flexibility - a quality she fears would be sacrificed on the altar of full automation. She's not willing to trade the ability to adapt and tailor her offerings for the sake of rapid expansion. Without flexibility, she would not be able to offer efficient services. Executing a Global Vision with a Local Agency Approach When Alina set out to build her dream team, she knew that the human touch would be her secret weapon. She needed to ensure her clients received top-notch attention in their own time zones while avoiding the pitfalls of language barriers. If clients weren’t receiving the right answers to their questions or didn’t understand the agency’s survey and processes, nothing would be ultimately accomplished. This is why she made the unusual and daring decision to hire a US-based team run remotely from Romania. Furthermore, she was also very conscious about empowering her team from the very beginning. One of the smartest decisions Alina has made was letting her current COO and first hire handle the hiring process of the rest of the team. After that, she’s been “in the back seat” as she lets her team take over operations. It's a transition that many agency owners dream of but few achieve, often finding themselves trapped by their own need for control. Expanding Your Agency’s Toolkit to Survive Market Shifts Alina started her agency with a focus on Amazon-dedicated services, but she quickly realized the need to expand into other areas like press articles and content generation. More than a response to market demand, this diversification was a strategic move to mitigate risks associated with relying on a single service offering. Her decision to diversify her services highlights the importance of staying agile and responsive to changing market dynamics. In today's fast-paced digital landscape, agencies need to be able to pivot and adapt to new trends and technologies. Alina had in mind after seeing many agencies have to completely reinvent themselves once the market changed and their entire business model went down the drain. By diversifying their services, agencies can not only capture new opportunities but also protect themselves from sudden shifts in the market that could potentially shut down their business overnight. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training Are you thinking about an eventual exit from your agency? Curious about how to prepare for selling your agency down the road? Preparing for a potential sale well in advance can be beneficial, even if you ultimately decide to retain your business. Our guest had a clear vision of his goal: to grow his agency while waiting for an opportune moment to sell. He shares valuable lessons on how coaching accelerated his growth and why he wishes he had joined a mastermind group sooner to establish the necessary systems for a successful sale. He shares insights into building a thriving agency and navigating the industry with a strategic approach. Ronik Patel is the founder of UnlimitedWP, a white-label WordPress Development company recently acquired by the white-label agency and longtime friend of the Smart Agency podcast, E2M Solutions. He shares his journey in the agency space, from starting Unlimited WP to its recent merger with E2M, and discusses the unique approach of productizing white-label services for digital agencies and the inspiration behind it. In this episode, we’ll discuss: Building a sellable agency from scratch. The impact of agency peer groups. Preparing for an agency sale. Subscribe Apple | Spotify | iHeart Radio Sponsors and Resources E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service. Building a Sellable Agency from Scratch Ronik has been in the agency space for eight years, when after completing his master’s degree in entrepreneurship, he faced the challenges of a failed startup and recognized the need for a venture that required minimal initial investment. While operating an agency is not without its complexities and uncertainties, it offered him the opportunity to launch a business independently and with no capital, allowing him to gradually develop it into a lifestyle enterprise. However, Ronik's ambitions extended beyond merely creating a lifestyle business; he aspired to build an enterprise with the potential for future sale. To achieve this, he engaged with agency coaches to explore alternative models that would allow for rapid scaling and eventual sale. Inspired by design firms that successfully productized their services, Ronik noted the absence of similar strategies within the agency sector at that time. Determined to innovate, he set out to implement this approach in his own agency. Accelerating Success: The Impact of Agency Peer Groups Reflecting on his personal journey, Ronik believes that one of the most impactful decisions he could have made earlier was to seek out a mentor and join a mastermind group. His experience has shown that being part of an agency group and learning from industry experts can dramatically accelerate growth and success. By being part of a community of like-minded individuals, a step he took during his third year of owning an agency, entrepreneurs can gain valuable insights, advice, and support that can help them navigate challenges and make informed decisions. However, changes don’t happen overnight. It took Ronik a couple of years to learn and implement what he learned, so he could have potentially achieved his goals in half the time if he had joined sooner. Ultimately, engaging with others and sharing experiences, helped him gain the confidence to try different things and improve his business strategies.   Moreover, things won’t just happen unless you challenge yourself to actively participate in these communities to reap the full benefits of membership. Ronik stresses the importance of showing up, asking questions, and seeking help when faced with challenges. Being proactive and engaging with other members is the best way to leverage the collective knowledge and expertise of the community to overcome obstacles, find solutions, and achieve their goals. Building Value for Buyers: Lessons in an Agency Exit Strategy When it came time to sell, Ronik didn’t have one particular reason to take this step. The timing was right, the offer was just right, and he had always envisioned he would sell at some point. Outside of just waiting for the right moment, he does recommend preparing for that moment by making a shortlist of potential buyers and initiating conversations with them to understand what they are looking for in a buyout, as well as actively seeking out potential buyers and making introductions early on in the process. By building relationships with potential buyers and understanding their criteria for a buyout, entrepreneurs can better position themselves for a successful sale when the time comes. Ronik also highlights the importance of understanding where the weightage will go in a potential buyout. He shares his experience of not knowing initially that factors such as the team, revenue, brand, and marketing channels would be crucial in the eyes of the buyer. By knowing this information ahead of time, entrepreneurs can tailor their efforts and focus on strengthening these aspects of their business to make it more attractive to potential buyers. Ultimately, it’s always good to set up your agency for a possible future exit even if you don’t end up selling because it creates freedom either way. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training Do you price your agency services based on time spent or based on value delivered? Your fees should reflect the expertise you bring to solving your client's challenges, not how long it takes. If you still consider time your most valuable metric, it may be time to reassess the true value you offer. Our featured guest started her career in PR and ventured to start an agency after becoming disillusioned with corporate decision-making; often neglecting the best interests of both teams and clients. She set out to build an agency that would get the job done while not losing sight of their values. Tune in to learn how she learned to appreciate the value she brought to clients and how that changed the way she prices her services and structured her offer. Sharon Robustelli is the founder of Ten3 Public Relations, an agency with a mission to elevate female founders and help them raise their authority in their industries. She shares her journey from starting in entertainment PR to eventually founding her own agency and figuring out the struggle between value and time. In this episode, we’ll discuss: Figuring out the pricing struggle between value and time. A surefire foot-in-the-door strategy. Fueling creativity and innovation for your agency team. Subscribe Apple | Spotify | iHeart Radio Sponsors and Resources E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service. Turning Frustration into Motivation and Innovation Injustice can serve as a powerful catalyst for change and achievement. This is what inspired Sharon to establish her agency "out of spite." With a degree in public relations—an increasingly rare credential—she embarked on her career in entertainment PR. After a decade of mastering this segment of the industry, Sharon began to explore opportunities for a strategic pivot. This transition ultimately led her to consumer PR, igniting a passion that continues to drive her work today. As she climbed the ranks in the agency world, Sharon reached a point where she was exposed to the inner workings of decision-making at a higher level. This experience opened her eyes to the bureaucracy, internal politics, and priorities that were not always in alignment with what was best for the team and the clients. She felt disillusioned by the way decisions were made and the lack of consideration for the impact on individuals' lives. More than anything, she was taken aback by how much time was lost with bureaucracy and trying to look smart and strategic to clients. She was determined to create a space where she could prioritize the well-being of her team and focus on serving her clients in a way that aligned with her values and mission. In doing so, she took a bold step towards creating a more equitable and empowering work environment for herself and those she serves. Figuring out the Pricing Struggle Between Value and Time The biggest ‘aha moment’ that led Sharon to leap into starting an agency realizing the the struggle between her value and her time. She recognized that her value lies in her experience and knowledge rather than the amount of time she spends on a project. This shift in mindset allowed her to break free from the traditional agency model and start her own agency, where she could focus on delivering tangible results efficiently and effectively. She had not internalized she was good at what she did and figured if someone paid her to do something it meant she had to spend a certain amount of time doing it. In the end, clients are not paying for the number of hours spent on a project; they are paying for the expertise, creativity, and strategic thinking that professionals bring to the table. Prioritizing expertise is a way for agencies to deliver higher quality work in less time, ultimately leading to greater client satisfaction and long-term success.  Sharon's advice is to embrace your expertise and acknowledge the value it brings to the table. This also extends to pricing strategies, as she highlights that charging for the time spent doing something meant losing money for her. Instead, charging based on the value provided will allow you to command higher prices and build long-term relationships with clients who appreciate the impact of their work. Establishing Expectations and a Surefire Foot-In-The-Door Strategy Understanding your value is essential for developing an offer that effectively showcases your expertise while minimizing the time and resources spent on client pitches. For Sharon, this begins with establishing clear expectations with clients right from the start of their relationship. She emphasizes her approach of not pitching a specific offer; instead, she arranges a session dedicated to understanding the client's unique needs and crafting tailored solutions. Providing clients with a roadmap or strategy upfront allows agencies to demonstrate their expertise and show clients the value they bring to the table. This approach not only helps clients understand the benefits of working with a professional but also saves time and resources and sets the stage for a more collaborative and successful partnership. A session like this would be a perfect foot-in-the-door strategy you can use to filter out serious clients from those who may not be a good fit. If you’re working on your foot-in-the-door offer, just remember to ask yourself the following questions: What’s the perceived value? What’s the speed of execution? Does it lead to a logical next step? Is it something you can co-create with the prospect? If your strategy provides value, does not take much time or effort to create, and leads the prospect to a follow-up project co-created with them, then you have a winner. More often than not, prospects will enjoy the transparency of being part of that process. Fueling Creativity and Innovation for Your Agency Team Business owners often find themselves responsible for large teams and can’t seem to get comfortable with the idea of leading. Sharon advises staying curious and continuously exploring new ideas and perspectives to refuel passion and drive for work. Look for things that keep you interested in the world and seek outside stimulation; engage in conversations with others, read, take walks, and pursue interests outside of work and family to expose yourself to new experiences and ideas that can broaden your perspective and keep your mind sharp and engaged. Creativity is a key component of success in any field, including business. When you remain curious and open-minded, you’re more likely to come up with innovative solutions, think outside the box, and adapt to changing circumstances. By exposing themselves to new experiences and ideas, they can broaden their perspectives and keep their minds sharp and engaged. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.

Matthew Woodget, a narrative strategist and founder of Go Narrative, shares insights on the power of storytelling in business. He emphasizes how intertwining personal narratives with business goals can attract the right clients. The conversation covers seven types of business stories and the pitfalls of overwhelming potential clients with too much information too soon. Woodget also discusses strategies for building meaningful connections through storytelling and the importance of a cohesive brand narrative for overall success.

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training Are you planning to buy an agency as a growth strategy? Or, do you want to make your agency attractive to potential buyers? Today’s guest started his agency journey by buying an agency as an exit from his previous career in venture capitalism. He purposely sought out agencies, seeing them as cash flow machines. He looks back on that process and offers some valuable pointers and considerations for agency owners looking to buy or sell an agency in the near future. Nick Fraunfelder is the owner and CEO of Sure Oak Digital Marketing, an agency specializing in SEO, link building, paid media, and analytics. He shares his journey of buying a digital agency and transitioning from a career in venture capital to becoming a business owner. Despite skepticism from friends, his passion for revenue conversations, desire for freedom, and dictating his own future have led him on a highly successful path. In this episode, we’ll discuss: Using the MED framework for a successful agency acquisition. Recasting expenses to unlock hidden agency value. Escaping the agency sales trap. Subscribe Apple | Spotify | iHeart Radio Sponsors and Resources E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service. Why a Digital Agency Acquisition Makes Sense on Paper Nick's decision to purchase a digital agency in 2022 raised eyebrows among his friends, who considered it a risky move in a fiercely competitive industry. However, having spent years in venture capital, making bold investments in high-risk assets, and serving as a CRO with reporting responsibilities to investors and boards, Nick found it liberating to have the autonomy to chart his own course and pursue his passion. When it came time to choose what type of business he wanted to acquire, he immediately thought of an agency, which in his view was a cash flow machine with high client retention rates. Nick’s thinking was that agencies typically operate on retainer contracts, offering ongoing services like SEO, paid advertising, and analytics. The predictability and stability of this recurring revenue model make digital agencies particularly appealing to potential buyers and investors. He advises potential buyers to prioritize operational efficiencies. By recognizing and addressing these factors, buyers and investors can capitalize on the stability and predictability that digital agencies offer, ensuring a sound investment with long-term potential. Maximizing an Agency’s Value by Focusing on Multiples, Earnings, and Debt The way Nick makes money in acquisition deals is through a concept called M.E.D. (Multiples Expansion, Earnings Expansion, and Debt Paydown). Multiples Expansion: If agency owners can expand their multiple by focusing on a niche, making their agencies more sticky, they’ll have better renewal rates and a better price in the market. Earnings Expansion: For this, focus on increasing your bottom line and get rid of unnecessary expenses. Debt Paydown: In his case, Nick did take on debt and set out to pay it in a certain amount of time. For instance, if he buys for $5 million, he would pay it off all in five years and sell it again for $5 million, effectively securing $5 million with minimal initial investment. In his experience, agency owners can get a very good deal if they make themselves attractive by paying attention to these elements. Unlocking Hidden Value by Recasting Agency Expenses The number one rule for Nick buying a business with debt was that the bank gets paid every month. He needed to make sure there was enough margin every month to both pay the bank back, make payroll, and finally, pay himself. This is where buyers should be aware of the importance of recasting expenses for better EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization). Recasting expenses involves identifying and adjusting non-recurring or discretionary expenses that may not continue under new ownership. These expenses may include one-time investments, personal expenses, unnecessary overhead costs, or expenses related to activities that are not essential to the core operations of the business. Recasting these expenses will allow to improve the EBITDA, making the business more attractive to potential buyers and increasing its valuation. In the context of a digital agency, recasting expenses can have a significant impact on the overall financial health of the business. For example, expenses related to marketing, operating costs, tools, or other non-essential expenditures can be identified and eliminated to improve the bottom line, leading to a higher valuation and potentially attracting more buyers or investors. Uncovering an Agency’s Salesmouse Trap The number one thing Nick looks for when thinking about how he could grow an agency after acquisition is what is their sales mousetrap. He considers the “sales mousetrap” as the processes and systems for attracting and converting the majority of their deals. Things he takes into consideration: Is their revenue repeatable? What’s their churn rate? How many leads are they getting and what’s the close rate? This is crucial because if every deal they land is because of a CEO who goes to every conference and is well-known then there’s no “mousetrap” without that person. Many agency owners struggle to diversify their sales channels, often relying solely on their core expertise, such as SEO, and neglecting sales development. Consequently, numerous agencies grow primarily through referrals, which, while valuable, are not scalable. Eventually, agencies must invest in diverse inbound and outbound sales channels. Real sales mousetrap metrics refer to the processes and systems in place that generate leads, convert them into sales, and ultimately drive revenue for the agency. By analyzing these metrics, agency owners can identify areas of strength and weakness in their sales processes, and make informed decisions on how to improve and optimize their sales performance. A well-structured business with established processes, where the owner is not intricately involved in day-to-day operations, is more appealing to potential buyers, as it demonstrates the potential for further growth and development. Lessons Learned from Acquisition Legal Counsel One of the biggest lessons Nick wants to pass on to future buyers is to get good legal counsel during the process and not let lawyers control the deal. According to him, good lawyers are there to scare you of everything that can go wrong in the deal. Unfortunately, they can also delay the process quite a lot. In his case, the process should have been straightforward but the lawyers involved made the process overly complicated, causing unnecessary delays and adding to the cost of the transaction. His advice for both buyers and sellers is to have legal counsel who understands probabilities and can explain potential risks clearly and concisely. Instead of focusing on every possible worst-case scenario, attorneys should be able to assess the likelihood of these events occurring and advise their clients accordingly. In this case, the lawyer's insistence on minor details, such as a payroll cut-over glitch, unnecessarily prolonged the deal process and created unnecessary tension between the parties involved. Look for attorneys who have experience in handling similar deals and understand the client's business structure and objectives. By having legal counsel who is familiar with the industry and the specifics of the transaction, potential roadblocks can be identified and addressed more efficiently, leading to a smoother and faster deal process. The Importance of Understanding Deal Structures and Profit Margins Understanding deal structures and profit margins is vital for agency owners looking to sell their businesses. Deal structures, such as all-cash offers or earn-outs, can significantly impact the amount of money received upfront and over time. Owners need to have realistic expectations about the value of their agency and the potential payout structure they may encounter during negotiations. Profit margins also play a crucial role in determining the value of an agency. A healthy EBITDA margin can make the agency more attractive to potential buyers and help ensure a successful sale. By understanding their profit margins and financial health, agency owners can better position themselves for a successful acquisition and maximize their payout. Overall, navigating deal structures and profit margins requires a combination of financial acumen, legal expertise, and strategic negotiation skills. Agency owners must carefully consider their options, work closely with legal and financial advisors, and maintain realistic expectations throughout the acquisition process. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training Are you seeking the best approach to train your sales team? Have you considered implementing a foot-in-the-door offer? Today’s featured guest reflects on past mistakes made while attempting to step away from sales, and shares a recent success could lead to a complete overhaul of the sales funnel, resulting in a tenfold increase in the closing rate. Tune in to hear about the journey from startup life to agency ownership and the creative acquisition strategy he’s using to become his own client and create the ultimate success story. Jim Huffman is the CEO and founder of Growth Hit, a customer-centric growth marketing agency that specializes in technical marketing. He shares his journey of becoming an accidental agency owner, some lessons learned about building a sales team, and his careful approach to crafting a foot-in-the-door offer that could boost his agency’s sales funnel. In this episode, we’ll discuss: Lessons in crafting a successful agency team. The Power of the Foot-in-the-Door Offer. How to become your own client and create the ultimate success story. Subscribe Apple | Spotify | iHeart Radio At the start of his career, Jim juggled marketing, creative, and sales for a couple of successful startups while also teaching marketing at General Assembly. As his reputation for delivering top-notch classes grew, so did the number of requests for his marketing expertise. This led him to take on freelance marketing projects, which eventually flourished into a full-fledged business. Like many entrepreneurs, Jim faced the challenge of pricing his services when the freelance work started pouring in. Initially, he quoted a modest $500, thinking it was a great price. However, as he sat down to do the work and calculated the amount of hours it took, he realized he could have made more working at Dunkin Donuts. That was his first lesson in raising agency prices. An Agency Owner’s Journey from Salesman to Strategic Leader The realization that he needed to fire himself from sales was a pivotal moment in Jim’s entrepreneurial journey. After getting a taste of what it was to work on the business instead of in the business, he recognized the need to step back from certain roles to focus on higher-level strategic tasks that would drive the growth of the business. Around this time, Jim's current partner interviewed for a junior role. Although he was overqualified for the position, he expressed his willingness to discuss other ways he could bring value to the agency, which eventually led to his appointment as COO. By hiring a COO specializing in conversion rate optimization, Jim saw the value of bringing in experts to take his agency to the next level. He quickly recognized the importance of not getting in the way and using that time to focus on other aspects of the business. The process of firing yourself from various roles within the business can be challenging and uncomfortable. It requires letting go of control, trusting others to handle important aspects of the business, and investing time and resources into training and development. In Jim’s experience, once he started he quickly began looking for other roles where he could replace himself. He says the trick is to start small and work yourself up to what you feel will be most difficult to delegate, which in his case was sales. The key is to keep in mind you’re working to build a business where you’re not just another cog in the machine. Missteps and Lessons in Crafting a Successful Agency Sales Team A key aspect of success in firing himself from sales was Jim’s focus on building a strong sales team. However, it was not a seamless process and he acknowledges there were a few mistakes along the way. One notable misstep was hiring a salesperson without ensuring there was enough lead volume to support them. In hindsight, Jim recognizes this as a glaring oversight on his part as the business owner. Additionally, he still didn’t understand the differences between different roles in the sales team, like what a hunter does versus a closer. He also hired people and provided them with the agency’s CRM, processes, and automation, instead of focusing on getting a solid sales script and making sure his new hires could close. One specific challenge Jim has found while training his sales team to replace him is customers who want to have an in-depth conversation about aspects of their services that not every salesperson would understand. In these cases, you don’t necessarily have to have a specialist. Instead, build these types of scenarios into your training. Some valuable strategies agency owners can implement include creating a repository of success stories that your sales team can reference during sales calls and offering a foot-in-the-door. This way, they’ll have valuable examples of past successes to demonstrate the agency's ability and get a little bit more into detail regarding how your agency would approach their particular challenge. The Power of the Foot-in-the-Door Offer Jim recently saw an encouraging success that has made him reconsider his entire pricing model to incorporate a foot-in-the-door strategy. His current sales funnel typically involves two calls, a conversion optimization assessment, and a monthly package priced at 10k. This process usually takes about 30 days to close. However, Jim recently had a conversation with a potential client and, sensing their specific needs, he spontaneously offered a foot-in-the-door and managed to sell a smaller package within just 72 hours, a huge jump. Thus far, it is a one-case-only success, but the results are encouraging and worth exploring. To create an effective a foot-in-the-door you should consider the following: What’s the perceived value to the client? Is it easy to create for the agency? Does it lead to the logical next step? Is it being co-created with the prospect? Think about things you’re already doing and that you can slice off your core service and go through each of these items to come up with a valuable offer. Finally, remember the prospect is going through their own struggles and by providing a foot-in-the-door you are offering prospects the opportunity to address these questions with a smaller commitment, making the final decision a no-brainer for them. Becoming Your Own Client and Crafting the Ultimate Success Story One innovative strategy Jim has been testing recently was leveraging profits from his agency to buy a B2C company that he could use as a model for approaching potential clients in the same industry. This unique approach allows agency owners to not only diversify their portfolio but also gain valuable insights and experience that can be applied to their core business. This can provide a new revenue stream, access to a different customer base, and opportunities for cross-promotion and collaboration. In Jim's case, he identified an opportunity to acquire 50% of a client's company, enabling his agency to handle the marketing side and become their own client. This strategic move has doubled their thought leadership content, as they now create content around the newly acquired B2C company in addition to their existing content. Acquiring a B2C company can be a great opportunity for agencies to gain valuable insights into customer behavior, marketing strategies, and product development, which can be applied to its offerings. Moreover, by showcasing the success and growth of the acquired company, agency owners can demonstrate their expertise and capabilities to potential clients, making it easier to secure new business. This strategy can also open up new opportunities for partnerships, collaborations, and joint ventures with other businesses in the industry. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training Are you making a mark in your specific niche? Have you taken the necessary steps to elevate your brand and attract your ideal customers? Our guest today, a seasoned agency owner with fourteen years of experience working with influencers believes these are areas where agencies could learn from influencers, who by heavily focusing on developing their brands can grow to compete with big brands that have historically overshadowed smaller competitors. Tune in to learn more about her agency’s approach to influencer marketing and why you should stop being a volunteer at your own agency. Casey Benedict is the CEO and founder of Maverick Mindshare, an influencer marketing agency with over 14 years of experience in the industry. Casey shares insights on working with influencers, emphasizing the importance of expertise, processes, safeguards, and quality assurance; she also talks about learning to delegate and the importance of finding your zone of genius and staying in that lane as a way for owners to always stay in touch with the parts of the business they most enjoy. In this episode, we’ll discuss: Using influencer collaborations to grow your agency. What agencies can learn from influencers. Changing your mindset from volunteer to visionary. Subscribe Apple | Spotify | iHeart Radio Sponsors and Resources E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design, and development agency that has provided white-label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service. Being the Bridge for Brands and Influencer Marketing Casey's journey into the world of influencer marketing began with her own experience as a home baker and blogger. She was inspired by the community of food bloggers and the potential for brands to leverage their influence. This experience led her to a blogger retreat, where she observed the challenges faced by bloggers and PR agents in collaborating effectively. It also sparked the idea of becoming the bridge between bloggers and brands — and her agency was born. Through her agency, Casey has successfully facilitated mutually beneficial connections between influencers and brands, prioritizing the quality and authenticity of influencer campaigns. In today's landscape, numerous influencers are rivaling major brands, such as Mr. Beast's Feastables competing with Hershey’s and Logan Paul's immensely popular energy drink. This presents a compelling opportunity for agency owners to tap into, enabling them to compete with the largest global agencies by elevating their brand. Combining Agency Processes with the Human Elements of Influencer Marketing Casey's agency has been working with influencers for over 14 years and she disagrees with the common perception that influencers can be difficult to work with. Although she acknowledges this is likely due to her agency’s expertise and attention to processes. She attributes this perception to the fact that influencers are human beings, with their unique personalities and perspectives. In traditional marketing, the focus is often on digital media buys or static content, whereas influencer marketing involves collaborating with real people who have the power to engage audiences authentically. This human element introduces a level of unpredictability and risk, but Casey believes that with the right processes and safeguards in place, these challenges can be mitigated. How Clarity Plays a Role in Marketing Your Agency Over the past fifteen years, influencers have shown us that by being authentic and true to themselves, they can compete against major corporations and make a significant impact in the industry. Likewise, it is crucial for agencies to elevate their brand and stand out boldly to compete against the biggest companies in the world. Understanding your brand thoroughly can be a time-consuming process, but by defining core values and target audience, you can establish a strong foundation and set a clear direction for you and your team. This clarity not only guides your decision-making process but also helps you connect with your audience on a deeper level. Agency owners often dedicate most of their time to helping their clients and overlook the need to focus on their own business. Casey has also faced this challenge, but she recognizes the importance of building a brand that resonates with people. Imposter syndrome, self-doubt, or fear of judgment are just some of the reasons holding agency owners back when it comes to sharing their thoughts and ideas with the world. Despite the plethora of opinions on social media about how to build a brand, putting yourself out there requires courage, vulnerability, and a willingness to take risks. Overcoming these barriers demands starting small, embracing unique strengths, and gradually expanding their presence, enabling agency owners to overcome their fears and establish themselves as confident thought leaders in their industry. Changing Your Mindset from Volunteer to Visionary At one point in her agency’s growth, Casey had to ask herself if she wanted to be a non-profit or a CEO, based on the tasks she was taking on. Her day-to-day was filled with things she should’ve been delegating and it felt like she was doing volunteer work for her agency, rather than stepping into the role of a CEO. It is crucial to prioritize tasks that hold greater value and impact for your agency, rather than becoming entangled in smaller, less significant tasks that could be assigned to others. If you find yourself falling into this pattern, categorize tasks as $10, $100, or $1000 tasks to swiftly identify and prioritize those that will significantly impact your agency's growth and success. By delegating, you can entrust tasks to someone who will approach them with a level of enthusiasm that you may not possess, yielding superior results. Doing $10 tasks may create a sense of productivity, but once you really look into it, you can pay someone to take care of that giving yourself time to tackle the bigger tasks. It’s about building your agency around your life, your values, and the things you want to do. This way, you build a stronger organization and attract more of the right people. Likewise, agency owners may feel unprepared to invest in growth, but according to Casey, it is essential to adopt the mindset that your agency is equipped to handle expanded business and growth. Taking the necessary steps to support this growth, whether by hiring additional team members, investing in marketing, or expanding services, is crucial for sustained success. What Do You Do Best? Staying True to Your Strengths Part of getting to a point where you’re effectively delegating tasks across your team is embracing diversity in team dynamics. As an agency owner, it's important to recognize that not everyone will approach tasks the same way you do, and that's perfectly fine. Embracing a team with diverse skills, personalities, and working styles is essential for the success of any organization. This diversity can lead to increased efficiency, creativity, and overall success. Realizing this took the animus out of team differences for Casey, as she was able to embrace diversity in team dynamics and understand each team member's strengths and weaknesses. By recognizing what each individual excels at and what they may struggle with, agency owners can delegate tasks more effectively. Casey encourages agency owners to find what they do best and let that guide them. There’ll be many voices wanting to tell you what’s best, which KPIs to follow, and what to focus on so make sure you touch base with that zone of genius as much as you can. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training Are you considering narrowing your focus in the near future, or do you prefer to retain the flexibility to take advantage of growth opportunities in specific sectors? Our featured guest established a PR agency by recognizing the potential to connect forward-thinking companies with journalists. In the current uncertain economic climate, she opts for diversification and maintains the agility of her agency to capitalize on the expansion of emerging sectors. Gain insights into her journey of building a PR agency that harnesses technology to enhance brand visibility, her pivotal moments in realizing the agency's success, her strategies for solidifying its growth, and the ongoing learning curve inherent in the agency's evolution. Amy Jackson is the founder of TaleSplash, a PR agency focused on effectively helping startups and emerging brands. She shares her journey from working in corporate PR to starting her own agency, discusses the role of the media in times of change, and explains how the agency is using AI to efficiently connect journalists with relevant sources and products. In this episode, we’ll discuss: The power of versatility and adapting to economic shifts. Getting beyond the $ million mark. Why growing an agency is a continued learning experience. Subscribe Apple | Spotify | iHeart Radio The Art of Brand Elevation and Media Matchmaking After a decade in the corporate world and navigating the challenges of the pandemic, Amy recognized the pivotal role of media in shaping people's understanding of the world. This realization sparked her vision of bridging innovative companies with journalists to promote their products. Serving as a matchmaker between clients and journalists, she has steadily expanded her agency, empowering founders to elevate their brand awareness and position themselves as valuable resources for journalists. So far, her agency journey has been one of discovery. As much as one can prepare themselves, speak with other owners, and read about the experience, you won’t really know until you jump in and start your journey. Her first year with the agency was about building and creating. After that, each year has brought on new challenges as they grow, like staffing and learning to run the business profitably. Overall, she always keeps in mind what clients want from her agency, which is coverage at big outlets, speak at conferences, and have people pay attention to what they represent as thought leaders to bring in more customers, investors, and have more credibility. This commitment to meeting client expectations is vital in the face of intense competition, ensuring the agency's ongoing relevance in the industry. Building an Agency Team of Experts Amy first felt the momentum of her agency when she began enlisting the support of experienced individuals, enabling her to deliver top-notch services to her clients. She surrounds herself with people who have decades of experience. As a result, has been able to offer a diverse range of services and support to her clients, ultimately leading to their success. Her team has helped multiple clients be recognized by the White House, brought into Senate hearings, and be a part of important conversations in the media. This level of support and expertise has added immense value to her clients and set her agency apart from others in the industry. All this is possible thanks to the team of experts she assembled. The Power of Staying Versatile and Adapting to Economic Shifts Amy cites the current economy as a key factor in why she hasn’t niched down her services. Amy’s agency needs to remain fluid during tough times while certain niches have their moment. Versatility makes it easier to focus on some key industries like AI, climate solutions, lifestyle brands, and health tech. By diversifying, Amy can capitalize on growth opportunities in various sectors and mitigate risks associated with focusing solely on one industry while allowing her agency to adapt to changing economic conditions and industry trends, ensuring long-term sustainability and success. Growth Strategies to Get Beyond the $2 Million Mark Up to this point, Amy has relied on personal networking to drive her business. She has explored various marketing channels such as lead generation, attending events and conferences to connect with other industry professionals, and has also received some referrals. However, the majority of her agency’s growth has been attributed to meeting people at events. Typically, this approach can only take a business so far, usually up to the $2 million mark, before hitting a ceiling. This is because the potential to meet new prospects at events is limited. To surpass this point, it is essential to establish alternative channels for business growth. These channels are: Inbound: This includes social media, podcasts, blogs, website, and ads as ways for the clients to find you and get to know you and your services before reaching out and becoming customers. Outbound: Building an effective sales team with a clear target and a deep understanding of the ideal customer profile to actively pursue leads. Strategic partnerships: A key component in any agency’s growth strategy. In her case, forming alliances with other businesses has helped her expand her agency’s reach, access new clients, and tap into new markets. Strategic partnerships also provide opportunities for collaboration, knowledge sharing, and mutual support, ultimately enhancing the agency's capabilities and competitiveness in the industry. Grit, Growth, and Grace In the world of PR, if you come from a traditional PR education and agency background, you won’t have any notion of sales and financial infrastructure. In Amy’s case, it’s something she’s had to learn on the fly as an entrepreneur and a focus of hers as her agency continues to grow. The agency experience is all about continuous learning and overcoming challenges. As Guy Kawasaki explained in a past episode, looking back at his career he likes to break life up into thirds - grit, growth, and grace. This concept emphasizes the idea that learning is a lifelong process that involves embracing challenges, seeking growth opportunities, and remaining humble and open to new experiences and knowledge. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.

Would you like access to our advanced agency training for FREE? https://www.agencymastery360.com/training Is your agency prepared for a strategic acquisition to accelerate its growth? What advantages does an acquisition offer compared to organic growth? Do you have the necessary resources to navigate the acquisition process while ensuring the continued growth of your agency? Our featured guest today will discuss his ongoing acquisition process, outlining his reasoning behind this move, sharing why this felt like the perfect moment for an acquisition, and how he kept his peace of mind during this time-consuming process. Manish Dudharejia is the founder and CEO of E2M Solutions, one of the largest white label services agencies with clients all over the globe. Manish is a friend of the podcast who’s been on previously talking about big decisions agency owners need to make and sharing hiring tips for agencies. On this occasion, he discusses the recent acquisition of a white label WordPress development company, adding over 80 new team members and 100 new agency clients to their existing roster. He explains the decision-making process behind choosing to acquire rather than solely build, emphasizing the need for rapid growth and expansion in serving over 300 agency clients globally. In this episode, we’ll discuss: Strategic acquisitions as a strategy for agency growth. Acquisition vs. organic growth. 2 tests for cultural compatibility. The Lion Framework. Subscribe Apple | Spotify | iHeart Radio Strategic Acquisition as a Fast-Track to Agency Growth Manish has been building E2M for the past ten years and recently embarked on a new phase in his journey by adopting acquisition as a growth strategy. Why now? One of the key reasons was the ability to acquire clients and add new team members rapidly. When it comes to rapid expansion, acquisition stands out as one of the most effective strategies for an agency. Manish had a clear objective to increase his agency's scale by around 50% over the next three years. While achieving this organically was not impossible, it would have been time-consuming and presented its own set of challenges, so an acquisition made sense. By acquiring an existing company, E2M was able to instantly add 80+ new team members and over 100+ agency clients to its portfolio. This immediate influx of resources and clientele allowed E2M to scale up its operations significantly and achieve its growth goals much faster than if it had pursued organic growth strategies. Ultimately, Manish’s goals of dominating his niche in a short amount of time required a big investment and he opted to make a big move that would take less time. This way, combining forces with another company in the same space allowed E2M to strengthen its market presence and establish itself as a dominant player. The Biggest Appeal of an Agency Acquisition For Manish, the biggest appeal of an acquisition is that it’ll bring your agency new customers and especially new talent. Building a strong team is no small feat, and the process can be disheartening. However, acquiring a company with a skilled team already proficient in the area where Manish aims to expand can significantly expedite his agency's growth and heighten its chances of success. Of course, is not as easy as finding a great team and adding them to your company. It's crucial to consider the cultural fit between the acquiring and acquired companies. Culture plays a pivotal role in the success of an acquisition. Misaligned cultures can lead to integration hurdles, increased employee turnover, and ultimately impede the success of the acquisition. Therefore, gaining a deep understanding of the company being considered for acquisition is essential. This understanding provides valuable insights into its operations, culture, team dynamics, and overall potential for success. In Manish’s case, he knew exactly what to expect, having established an eight-year relationship with the owners of the acquired company that provided a clear understanding of its internal workings, team dynamics, and overall performance. This familiarity allowed for a smooth transition and integration of the new team into his agency. Vetting Acquisition Targets: 2 Tests for Cultural Compatibility There are two big tests to pass before embarking on an acquisition process. First off, ask yourself can you take an entire month off from the business and find it has grown when you come back? The second test is for those who don’t have the luxury of having known the other company for many years and can attest to how they work. Do a test project with the company you’re planning on purchasing. This way, you can see first-hand how you would work together. Regarding this second step, Manish goes even further and prompts agency owners to ask themselves if they would invite the CEO of the company they want to purchase to have dinner at their home since most likely they will be a reflection of their company culture. Finally, Manish also mentions the importance of having a strong leadership team in place before considering an acquisition. Two years ago, he wouldn’t have embarked on such a time-consuming endeavor as acquiring a business since he still didn’t have the proper support and was more involved in the day-to-day tasks in the business. Having a capable team supporting him through the integration process helped increase their chances of a successful acquisition. The Lion Framework to Learn the Importance of Rest and Downtime Agency owners often feel the pressure to maintain a constant 100% effort, fearing that any time off will lead to everything falling apart. In reality, taking time away is not just an opportunity to recharge, but also a chance to evaluate what's not working and what is, ensuring you have the energy to address any issues upon your return. Moreover, your attitude and energy will dictate your team’s overall attitude to work. A pissed-off owner that hates their job will likely lead a frustrated and exhausted team that lacks initiative. This is why Manish takes his time off seriously. After removing himself from day-to-day operations, he enjoyed a freedom he hadn’t seen in years. However, the acquisition process brought him back to 18-hour workdays and numerous critical decisions. During this time, he made a point to take daily walks, giving himself the opportunity to recharge and gain the clarity needed to face the next day's challenges. According to Manish's Lion Framework, which he shared at a recent mastermind event, taking time for self-care is not a luxury but a necessity. Rest time is crucial not only for personal health but also for sustaining productivity and creativity as a business owner. It serves as a vital tool in preventing burnout, maintaining mental clarity, and enhancing overall well-being. In this sense, Manish emphasizes the importance of surrounding oneself with a supportive team and community that offers encouragement, guidance, and assistance during difficult periods. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.

Do you run a virtual agency or a more traditional in-office business? It all comes down to what suits your and your team’s work style, and one agency owner has found a way to incentivize in-office days. She also shares the lessons learned after two big clients left within weeks of each other. This feature guest has constantly been evolving and adapting to change. She shares her reasons for being an advocate for the collaborative and innovative environment that comes with a shared physical workspace. She also shares the challenges she has faced that forced her to diversify her client roster and empower her team to be independent. Sarah Segal is the CEO and founder of Segal Communications, a public relations, social media, and influencer marketing agency that specializes in crafting communication strategies spanning the events, hospitality, and food niche. She shares her journey from broadcast journalism to accidental agency ownership. Sarah also talks about why she established a hybrid agency show where she encourages her staff to go to the office, and the decision to resize her agency and diversify their client roster. In this episode, we discuss: An innovative approach to promoting office culture. Adaptability and resilience when big clients leave. Building a self-reliant agency team. Subscribe Apple | Spotify | iHeart Radio Going from Broadcast Journalist to Accidental PR Agency Owner Sarah began her career as a broadcast journalist in New York City, first working behind the scenes for various networks before transitioning to an on-camera reporter. However, her move to San Francisco marked a significant turning point in her life. While covering a particularly harrowing story, Sarah, now a new mom, found herself unable to desensitize herself from such distressing content. This realization prompted her to pivot her career path. This new stage of her career involved moving into PR and working starting in in-house positions before eventually moving to an agency, where she reunited with an old college friend who first presented the idea of starting an agency together. Sarah was working a couple of freelance gigs and a particular opportunity to launch a resort in Sun Valley, Idaho offered the perfect chance for the agency’s first gig. Following her partner's departure for an in-house role, Sarah has successfully operated as a solo agency owner ever since. An Innovative Approach to Promote In-Office Culture Sarah, a forward-thinking advocate of new technologies and platforms, initially established her business as a virtual agency even before the pandemic. However, as she began to expand her team with freelancers and staff, she quickly recognized the irreplaceable value of in-person communication within her PR agency. Face-to-face interactions and fostering a sense of community in the workplace were paramount to her. While her team had become accustomed to remote work, Sarah sought to strike a balance between virtual and physical presence. She carefully selected an office space that felt like a home away from home and introduced amenities such as work slippers. Furthermore, she implemented mandatory office days for all staff members. She created a point-based reward system for additional days in the office. Points are cashed info things like extra PTO, high-end headphones, and even international travel. This way, days at the office don’t have to feel like punishment for her staff and she is leaving room for them to spend extra days of the year there at their choosing. This not only fosters a sense of community and camaraderie among team members but also allows for more spontaneous and creative interactions that can lead to better collaboration and idea generation. When Big Clients Leave: A Lesson in Adaptability Every entrepreneur is cautious about how they move ahead with growing a company. Throughout the years, Sarah has received all types of advice about what not to do with her agency, and, by heeding this advice, she successfully expanded her client base, securing several major accounts. However, when the agency lost two of those clients in six weeks, Sarah had to start making tough decisions to stay afloat. Unfortunately, this meant she had to lay off part of her staff leaving her feeling terrible, yet also relieved about being able to make payroll. This experience served as a poignant lesson that she hopes never to repeat. Since losing those clients, Sarah has restructured her agency to diversify their portfolio. Now, her agency does not focus solely on big clients and has a range of small and mid-size clients. This way, if any of those clients depart, it has no impact on her P&L. By spreading out the risk across multiple clients, the business owner was able to protect their bottom line and ensure financial security moving forward. Furthermore, diversifying clients also opens up opportunities for new business relationships and partnerships. By working with a range of clients, the business can expand its network and potentially tap into new markets and industries. This can lead to increased revenue streams and a more stable financial foundation for the business. Cultivating Independence by Building a Self-Reliant Agency Team As your agency grows and you bring in new team members, you'll find that your role shifts to that of a leader who nurtures and develops others. It becomes essential to empower them to embrace your vision and handle challenges independently. By doing so, you can free yourself from the pressure of making every decision. When you invest in training a proficient team, they become equipped to tackle any obstacle, allowing you to step back from being involved in every single decision. For instance, Sarah entrusts her team to handle minor decisions and seek guidance for major issues. It's not about her making the final call, but rather ensuring that all written materials leaving the agency are reviewed by a second party. Her team knows to come prepared with multiple options when seeking her input, akin to the 1-3-1 rule recommended for mastermind members. By teaching your staff to consider various solutions and choose the best one, they can gradually take charge of decision-making. For Sarah, one of the most important things is that her team keeps her up to date about the temperature of each client. Unfortunately, she also thinks temperature checks are something people don’t necessarily learn until they’ve had the experience of getting that call from a client who is leaving. As an agency owner, patience is key as your team gains the necessary experience, ultimately surpassing your expectations. Only by adopting this mindset of letting go of small tasks that your team can handle on their own can agency owners finally let go of some of the things they used to do and start doing the things no one else can do. Shaping the Agency’s Client Communication Strategy As someone who runs a communications and PR agency, Sarah has seen with concern that most agencies have a very close-to-the-vest approach to how they handle their media. These agencies won’t give clients access to the emails and connections they have and keep those as their value. According to Sarah, the primary reason clients seek her agency's services is the time and effort it saves them. She and her team handle tasks that clients simply don't have the bandwidth for. This understanding has shaped her client communication strategy, emphasizing transparency. Sarah prioritizes open and honest communication with her clients, sharing media lists, expenses, and other pertinent information. This commitment to transparency not only fosters trust but also ensures that clients are well-informed and aligned with the agency's goals and objectives. Do You Want to Transform Your Agency from a Liability to an Asset? Looking to dig deeper into your agency's potential? Check out our Agency Blueprint. Designed for agency owners like you, our Agency Blueprint helps you uncover growth opportunities, tackle obstacles, and craft a customized blueprint for your agency's success.