Build a Better Agency Podcast

When you’re busy running an agency, it can be hard to take a step back to see broader trends. What is currently happening and what is on the horizon regarding client relationships? What tactics and deliverables are hot and making agencies money? This is the second part of a discussion I started last month about the we’re tracking at AMI. One of the best aspects of our work with agency owners from all over the world is that it affords me perspective. In episode 140, Top 2018 Agency Trends Part 1, I talked about trends that were related to money and the changing structures of our teams. And in this episode, I’m going to talk about the trends that I did not have a chance to get to in that episode. What you’ll learn about in this episode: How retail-facing companies are transitioning those skill sets into B2B space Why big consumer brands are decreasing their marketing spend and what it might mean down the road for small to mid-sized agencies The continuing rise of video and how to avoid the urge to over-produce video content Why clients are coming back to integrated agencies after splitting their marketing dollars among smaller agencies focused on narrow tasks What tactics and deliverables are earning agencies solid revenue in 2018 The rise of influencer marketing The fascinating ways in which voice is changing search and how to stay on top of the trend The love/hate relationship we all have with chatbots and what that might mean for their future Drew McLellan is the CEO at Agency Management Institute. He has also owned and operated his own agency since 1995 and is still actively running the agency today. Drew’s unique vantage point as being both an agency owner and working with 250+ small- to mid-size agencies throughout the year gives him a unique perspective on running an agency today. AMI works with agency owners by: Leading agency owner peer groups Offering workshops for owners and their leadership teams Offering AE Bootcamps Conducting individual agency owner coaching Doing on-site consulting Offering online courses in agency new business and account service Because he works with those 250+ agencies every year — Drew has the unique opportunity to see the patterns and the habits (both good and bad) that happen over and over again. He has also written two books and been featured in The New York Times, Forbes, Entrepreneur Magazine, and Fortune Small Business. The Wall Street Journal called his blog “One of 10 blogs every entrepreneur should read.” Ways to contact Drew McLellan: Email: drew@agencymanagementinstitute.com LinkedIn: www.linkedin.com/in/drewmclellan We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

I’ve always described our work as being called upon to be creative on demand. Whether an agency employee sits in the creative department, codes apps, builds strategy or works on new business – we are all tasked with being fresh thinkers. Our clients hire us to ask the right questions. We feel the pressure to provide answers or at the very least, to know the next right question.  It’s incredibly satisfying when a prospect or client says, “I’ve never been asked that before.” My podcast guest Larry Robertson, encourages his clients – and us – to sit with questions – to not look for quick and easy answers. But to recognize that the real insight rarely comes from the first layer of questions. The paradox is that in times of frenetic change, having the right answers are more important than having the quick answers. Organizationally speaking, it’s a matter of life and death. Larry Robertson is an innovation and strategy advisor. He is the author of two award-winning books: A Deliberate Pause: Entrepreneurship and its Moment in Human Progress, and The Language of Man: Learning to Speak Creativity, honored with a combined 16 awards. During our conversation, Larry talked about the research he did as he was prepping to write “The Language of Man.” He interviewed recipients of the McArthur “Genius” award to gather their collective wisdom on creativity and staying power in business and life. Along with being an author, he’s also a columnist for Inc. Magazine and The Creativity Post, and a regular contributor to Fast Company. He also has been featured guest on or in MSNBC, the Chicago Tribune, AdAge, SmartBrief, and in numerous podcasts. He is a Graduate of Stanford University and Northwestern University’s Kellogg School of Management and a former Adjunct Professor of Entrepreneurship at Georgetown University’s McDonough School of Business. What you’ll learn about in this episode: How to help clients recognize their value proposition The five layers of “why” and how it can be a powerful tool for agency How to answer the “so what?” question about what you do and why it’s important The importance of staying curious and open-minded no matter how long your agency has been around Cultivating the Five Habits of the Mind in your agency and weaving it throughout your discovery process What prospects are looking for when picking an agency The two things you can’t do as you implement the Five Habits of the Mind Your role as an agency during the discovery session Larry’s perspective on change and how it affects your agency and clients The three key things you need to do to expand your agency’s brand lifespan to last longer than 15 years The benefits of implementing “play“ as a habit and how it can help you become a better on-demand creative How to encourage better micro-habits as a leader within your agency Ways to contact Larry Robertson: Website: larryrobertson.me We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

We live in the ratings and review economy. While our clients (and I suspect we are guilt of this too inside our agencies) are busy chasing after the new customer, the truth is – if we don’t create an amazing experience for our existing clients – we’re sunk. It’s tough to attract new business when your current customers are giving you mediocre reviews or rushing to social media to share your customer service blunder with their connections. Never forget that 70% of your net new revenue should come from existing clients. Odds are your clients are in the same boat. In today’s world of commoditization, the experience we create is often our point of difference. And let’s face it – you’re probably not on the front lines with your agency’s clients. Your team is. That’s why I was eager to speak with my guest Stan Phelps – an expert in customer experience and employee engagement. Among the many things on his plate, Stan runs purplegoldfish.com where he digs deep into these topics in his best-selling book series and on stages across the globe. I wanted to ask Stan about the links between customer experience, embracing weirdness, employee engagement, and above all – purpose in an organization – how they are all tied to one another; how they are often the difference between surviving (or not) and thriving as a company. Stan Phelps is an IBM Futurist, TEDx Speaker, and Forbes Contributor. He has spoken at over 250 events on every inhabited continent, in over a dozen countries for Fortune 100 brands such as IBM, Target, ESPN, UPS, GlaxoSmithKline, and Citi. Prior to focusing on writing and speaking, Stan held leadership positions at IMG, Adidas, and the PGA. He also spent seven years as Chief Solutions Officer at Synergy, an award-winning marketing agency. At Synergy, he helped create larger than life brand experiences for brands such as KFC, M&M’s, Walmart and Starbucks. Stan received his BS in Marketing and Human Resources from Marist College, a JD/MBA from Villanova University and a certificate for Achieving Breakthrough Service from Harvard Business School. He is a faculty member on ANA’s School of Marketing and also serves as an adjunct instructor at Rutgers Business School. What you’ll learn about in this episode: How exceptional customer experience means current customers will be eager to bring you, new customers What the concept of lagniappe (pronounced, “LAN-yap”) – a tradition in New Orleans – is all about and how you can use it to go that extra mile for your clients The bottom line importance of warmth and competence Making your best clients aware of your full range of services How to embrace weirdness as a business development strategy The 5 things that impact the growth and health of a goldfish – and what that means for your business The correlation between the first 4 months of your business and its overall health to this day How to put purpose at the bullseye of everything you do The law of worthy intentions Ways to contact Stan Phelps: Website: stanphelpsspeaks.com All the “Goldfish” books: stanphelpsspeaks.com/author We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Obstacles are a given. We don’t get to waltz through life without facing some tough days, barriers and people who are pretty convinced we’re crazy. As a result – we all have “those days.” Those days of doubt, of worry and of asking ourselves, “what am I doing?” I don’t know about you, but there are days when I wonder how I got on this crazy roller coaster. But then I realize that I stood in line just for a shot at the ride and most days, I love it. Every day we make choices and those choices have consequences. The choices we make lead define the life we live. I work hard to come at life from a growth mindset. I know there will be uphill days, but I am going to tackle that hill and figure out how to avoid having to climb it again. My only other option is a limiting mindset. My guest for this podcast is a person I’ve followed and admired for years and I couldn’t wait to speak with her – in fact we planned a return visit to the podcast not even halfway through this one! Pam Slim digs deep to get to the bottom of those tough questions that keep business owners stuck in place or afraid to step out into the light. Her goal is to find answers that allow us to face and overcome those inevitable challenges, so we can enjoy the ride. Pam had just embarked on some pretty incredible research on this very subject of overcoming or not overcoming challenges right before we got together. I wanted to get a sneak peek at the findings and Pam delivered! We talked about the power of building a community around you and the power that unleashes as you both get support and support others. Pam Slim is an award-winning author, speaker, and small business coach. Most of you probably know her from her book, Escape From Cubicle Nation, but there is a lot more to tell. Pam spent the first 10 years of her solo practice as a consultant to large corporations like HP and Cisco and to worked with thousands of employees, managers, and executives. Then came then Cubicle Nation, the blog which led to the book. Her latest book, Body of Work was released with Penguin Portfolio in 2015. In her hometown of Mesa, AZ, Pam has opened up what she calls a business learning library called K’é, which is a Navajo word meaning “a system of kinship connection.” What you’ll learn about in this episode: What kinship has to do with building a business The impact of your attitude toward obstacles Why people gather in ecosystems of shared values and experiences What it means to have a “growth” vs. a “fixed” mindset How to course-correct your business whether you’ve been in it for a year or 30 years Why a great business ecosystem is like the ultimate dinner party What the High Council of Jedi Knights can teach us about sharpening our business outcomes The toll that a lack of shared values will take on you in a business (or any) relationship The results of a major research study on overcoming obstacles The power of a group of people who both have your back and hold you accountable Ways to contact Pamela Slim: Website: pamelaslim.com We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

I hang out with agency owners every day and 95% of them resist proactive business development for as long as they can. Until that big client starts to give “I want to break up” signs, they are happy to rely on referrals and anyone who crosses the threshold as a substitute for a true biz dev program. Most owners will tell me that they either hate sales or they’re terrible at them. But the reality is – you are all brilliant sales people because you are not a sales person. You are uniquely skilled at having business conversations at a level that no average salesperson can have. The other excuse some owners will offer is that they are introverts, which means they can’t be good at sales. Again, I disagree. The key to good sales is asking better questions and listening with more intentionality and no one is better at that then someone who is more introverted. All of this is why I invited Matthew Pollard to be on the show. He’s here to share insights from his work and from his forthcoming book, The Introvert’s Edge. He’s got some really great things to share to get us out of our reluctance about selling and networking. Can narrowing our niche help us sell better? Matthew thinks so. Should we get beyond describing our work as a functional skill – the same skill everyone in the marketplace has? Matthew knows getting beyond functional skill is a crucial step. Matthew is the Rapid Growth Guy. He's dedicated to helping small business owners succeed by giving them methods that helped them transform their business from struggling into profitable success stories. He is the founder and executive director of the Small Business Festival, ranked among the top five conferences in the nation by Inc. magazine. He is in the international sales blogger awards hall of fame and has been featured in Entrepreneur, CEO magazine, Fortune, you name it. But what we care about is that he's going to help us be smarter about selling. What you’ll learn about in this episode: How to craft a unified message about why people should work with you The difference between your functional skills and the reason people actually work with you The three-step process to rapid growth Why you don’t have to be an extrovert to be excellent at sales Plenty of life hacks for your next networking event How to stand out when your services have been commoditized Why bending yourself to perceived market “needs” will leave you tired and frustrated How niching narrows your market in all the right ways The folly of sharing a bland message in a crowded market – and what to do instead Why a small niche you are excited about is better than a giant market you don’t care about Ways to contact Matthew/Resources: Website: matthewpollard.com Podcast: matthewpollard.com/better-business-coach/forget-about-goals-why-is-the-key-to-success Free chapter: matthewpollard.com/theintrovertsedge/book We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

I have the good fortune of hanging out with agency owners and their teams every day of the year. We work with over 250 agencies that range from a handful of employees to several hundred team members. While every agency is absolutely unique – there are some common themes and trends that bubble up as we work alongside our agency clients. Every year I pull together the trends I see time and time so the agencies we serve aren’t surprised by any of them. I’ve categorized them into some big buckets: money, employees, agency structure, clients, tactics, and revenue opportunities. There were too many trends to pack into one solocast, so I’ll cover half this time and the other half in July. Here’s the good news – it’s a great time to be in the business. As always, both challenges and opportunity abound. My goal is to help you spot the opportunities so you can maximize them while sidestep the trouble spots. What you’ll learn about in this episode: How agencies fared financially in 2017 Why 2017 was a great year for agencies to make money – and where that profit got re-allocated The factors complicating employee hiring and retention Agency structure changes in terms of both department structure and employee life/work models Drew McLellan is the CEO at Agency Management Institute. He has also owned and operated his own agency since 1995 and is still actively running the agency today. Drew’s unique vantage point as being both an agency owner and working with 250+ small- to mid-size agencies throughout the year gives him a unique perspective on running an agency today. AMI works with agency owners by: Leading agency owner peer groups Offering workshops for owners and their leadership teams Offering AE Bootcamps Conducting individual agency owner coaching Doing on-site consulting Offering online courses in agency new business and account service Because he works with those 250+ agencies every year — Drew has the unique opportunity to see the patterns and the habits (both good and bad) that happen over and over again. He has also written two books and been featured in The New York Times, Forbes, Entrepreneur Magazine, and Fortune Small Business. The Wall Street Journal called his blog “One of 10 blogs every entrepreneur should read.” Ways to contact Drew McLellan: Email: drew@agencymanagementinstitute.com LinkedIn: www.linkedin.com/in/drewmclellan We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Every agency has an internal culture. The only question is – did you build it on purpose. Intentionality. That is the bottom line. If you want to consciously create your team’s functionality and effectiveness, what kind of clients you attract, and where your own focus should be – that takes intentionality. That level of thinking has helped Raman Sehgal build an agency that allows him to work with clients from all over the world and enjoy a staff retention rate of 80%. Raman Sehgal is the owner of a UK-based marketing agency called Ramarketing, an award-winning, creative, digital and PR agency. They are in the business of helping fast-growing companies in the life science, pharma, and manufacturing sectors get noticed. Nine years ago, he was working from a desk in his home. His agency has now grown the agency to a staff of over 20 and they working with clients across the UK, the US, and Europe, and still have the very first client that they landed almost a decade ago. What you’ll learn about in this episode: What it looks like to go from freelancer to running an agency How the job of owner changes over the lifecycle of an agency Why it’s possible to run an agency from a kitchen counter or a big corporate office How most agency owners become accidental business owners How Raman’s agency model compares to how a traditional agency runs How to build a family first, work second culture in your business What it takes to serve clients in multiple markets around the globe The power of being “meaningfully specific” in an agency Raman’s agency billing structure and the difference between billing by the hour for the US compared to the UK Building a fee structure on deliverables The correlation between giving clients a good return and the margin you receive on your work The red flags you can use to vet prospects and make sure they are a good fit for your agency How trying to make a difficult client happy can actually cost you and your staff Best practices to keep your team productive Ways to contact Raman Sehgal: Website: www.ramarktingpr.com LinkedIn: www.linkedin.com/in/ramansehgaluk We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Making a profit is the goal of any agency owner. But too often, the way we think about profit actually hurts our agency. The standard equation (sales - expenses = profit) can lead to bad decision-making. We are willing to accept the leftovers (profit) rather than running our business to deliver profit as a key outcome. I’d much rather have you determine the amount of profit that is acceptable to you and then you manage your business to that goal. This is a more effective way to look at the profit equation – one that helps agencies thrive and gives you the ROI you deserve for taking the risk of owning an agency. Michael Michalowicz founded and sold two multi-million dollar companies. Then in his mid-30’s, he went broke. Starting over again, he was driven to find better ways to grow healthy, strong companies. Among other innovative strategies, Mike created the “Profit First Formula,” a way for small to mid-sized businesses like our agencies to ensure profitability from their very next deposit forward. Michael is now running his third million dollar venture, is a former small business columnist for The Wall Street Journal, the former MSNBC business make-over expert, a popular keynote speaker on innovative entrepreneurial topics, and is the author of Profit First, Surge, The Pumpkin Plan and The Toilet Paper Entrepreneur.   What you’ll learn about in this episode: The two questions Michael asked himself that allowed him to find his calling to become an author Why leaving too much money in your agency leads to bad decisions What it means to run the Profit First system within your agency Basic principles to help your agency get ready to use the Profit First system Why you aren’t limited by a lack of resources The parallel between Pumpkin farmers and business regarding organic growth Key takeaways agency owners can apply to their biz dev strategy using the principle of “growing the strong sprout” Why it’s important to serve the verticals your agency knows well, and that will allow three or four of those legs to support your stool Consequences you may face when you put too much focus on your weakest clients Why entrepreneurs struggle with being profitable A better way to calculate profit for your agency so you can stop using the “Frankenstein Formula” Principles taken from health and fitness industry you can apply to manage your money better and simplify your agency We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

No matter what kind of agency you own, where it’s located, or how large it is – there is a truth about your business. You are literally and figuratively on stage every single day. Whether you're on the phone with a client, sitting across the table from a few people, or standing on the stage at a national conference, we are constantly presenting. We can’t afford to be shy about presenting. I’m not suggesting you do a TED talk but I am suggesting that you can’t afford to shirk away from any stage, big or small. You’ve heard me talk about the value of speaking as a way of creating cornerstone content but today I want to focus on a different aspect of presenting – selling from the stage (whatever that stage may be). This week’s podcast guest loves to talk to business owners about how to do that bigger and better, and bolder. Dustin Mathews is an author of many best-selling books, and he has shared the stage with athletes, business celebrities, and titans of business. His latest book, "The No BS Guide to Powerful Presentations: How to Sell Anything with Webinars and Online Media Speeches and Seminars" is going to be a book that you are going to not only read but underline and highlight and share with others. That I promise you. Dustin is known for creating content that drives people to buy products en masse. His companies and private clients have been featured on Forbes, Entrepreneur, Wall Street Journal, USA Today, and Inc magazine. He's literally marketed and filled over 3,000 events and has led 10 online product options. He and his work had generated over $43 million in sales. So he knows how to package and sell value. As a part of prepping for the work that he's doing today, he did some recent research and has identified a process for creating and selling products and services that he calls the Irresistible Offer Architecture that is so unique that he was able to get recognition by the US Patent and Trademark Office. What you’ll learn about in this episode: Why it takes practice to get comfortable with public speaking Testing and getting feedback on material before presenting it to a large audience Why it doesn’t matter how qualified you look if you’re able to speak to someone’s pain point Giving a speech that gets people to take the next steps you want them to take How to sell at conferences when you’re told “don’t sell from the stage” Creating excitement about your offer by teasing coming next in your presentation The five elements every presentation should have Giving people value in your speeches before giving them the ask Separating your agency from your competition by giving your processes a name Why you need to showcase case studies in your presentations to show off your expertise The nine elements of the irresistible offer architecture Why you should give people a physical giveaway (book, flash drive, etc.) whenever you can How to overcome your prospects’ objections Reverse engineering your presentations based on what you want to offer at the end Why you have to get good at speaking now Ways to contact Dustin Mathews: Book: nobspresentations.com Website: www.speakingempire.com LinkedIn: www.linkedin.com/in/thedustinmathews We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!

Branding has always been a cornerstone of my own agency. We've spent a ton of time and effort building brands for clients. We have, like all of you, created what we think of as a proprietary process around brand, and it's a topic that I have a great passion around. Many of you are either too polite to ask or have point-blank asked me, "Drew, what is the deal with you at Disney." Brand is part of why I love them so much. One of the aspects of Disney that I really admire and connect to the most is that I think they're just about as good as it gets in terms of understanding their brand, building their brand, and evolving their brand over time. One of the guys in the agency space who I think is really brilliant at branding is an Iowa based agency owner named Nick Westergaard. His new book, Brand Now: How to Stand Out in a Crowded, Distracted World, just came out and it is a brilliant blueprint for how to create a memorable, meaningful brand in today's chaotic time and space. Nick and I talked about are how building a brand has changed in this digital crazy, crowded, distracted time, and what are some of the elements that we as agencies can really spotlight and offer as a huge value to our clients. How do we use brand as an agency offering to stay sticky with our clients rather than a one and done project? Nick is a strategist, speaker, author, and educator. As Chief Brand Strategist at Brand Driven Digital, he helps build better brands at organizations of all sizes — from small businesses and Fortune 500 companies to President Obama’s Jobs Council. In addition to his new book, Nick is also the author of Get Scrappy: Smarter Digital Marketing for Businesses Big and Small. Nick is a sought-after keynote speaker at conferences and corporate events throughout the world. He teaches at the University of Iowa where he sits on the Advisory Council of the Marketing Institute at the Tippie College of Business and the Professional Advisory Board for the School of Journalism and Mass Communication. He is also a mentor at the Iowa Startup Accelerator. What you’ll learn about in this episode: Working with brands in a distracted, digital age How the world changed our views about how we should be looking at branding Why simplicity in branding is more critical than ever How agencies can help their clients understand what storytelling really is and how to help them construct better brand stories Why “Story” is a buzzword and how we can rescue it Why the main character in the story shouldn’t be the brand and why it should be the client’s end user Why making sure employees understand the brand is so important for your agency culture and the work that they do for clients The role agencies play in building brands and moving the brand forward How to provide real value to clients in this era of distraction and rapid change The opportunities agency owners are missing out on during the brand discovery process Why a brand is everything a company does – and why that doesn’t have to be overwhelming Why it’s important for you to plant your flag for your brand How Nick’s book can help agencies work together on their own brand The value of getting outside perspective on your own agency Ways to contact Nick Westergaard: Website: www.nickwestergaard.com Website: www.branddrivendigital.com Book: Brand Now: How to Stand Out in a Crowded, Distracted World We’re proud to announce that Hubspot is now the presenting sponsor of the Build A Better Agency podcast! Many thanks to them for their support!