Build a Better Agency Podcast

There’s more M&A activity amongst agencies than ever before. As agency owners get older and running the business becomes more stressful, many owners are running out of gas and looking for a reset. This means there has never been a more perfect time if you’re looking to buy an agency. And if you’re looking to sell, it might go faster than you anticipate. We know that M&As are stressful on both sides of the deal, no matter how much you plan ahead. So this week, we’re taking a deep dive into the whole process — how far in advance to plan your sale, valuation, succession planning, dealing with the emotions behind it, and much more. Even if you’re not planning to sell your agency right now, eventually, this will become a reality, and it’s always better to be ahead of the curve. So don’t miss this longer episode packed with tips for passing the torch and preparing for the future of your agency. A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: Why M&A activity is so high right now The strongest factors that will determine agency valuation How to assess your agency valuation Preparing 3-5 years in advance for an M&A Passing the torch to a new owner and being the buyer’s cheerleader Giving your employees the opportunity to be an internal buyer Preparing for an M&A for both a buyer and a seller Expenses to expect when preparing for a sale on both sides

Marketing research specialist Susan Quinn discusses the 9 traits agencies need for best-in-class service. It's not about price, but about core values, innovation, and quality. She shares insights on how to improve the client experience, niche down, and build long-term relationships. Continuous learning and improvement are key, and White Label IQ is the presenting sponsor.

Linda Perry, expert in agency communication and connectivity, discusses the 'why' mindset strategy for better agency communication. Topics include understanding motivation, addressing limiting beliefs, implementing the 'why, how, what' framework, enhancing agency communication for stronger relationships, and tools for building better teams.

Marketing expert Jay Baer discusses the importance of speed in client interactions and how it equates to client happiness. He shares insights on generational differences in patience levels and advises agencies to prioritize speed in order to attract customers. The chapter also highlights the need to find the right balance between being too fast and building trust, and the significance of prompt response times in client communication.

As your agency grows, your leadership team must grow alongside it. You’ll notice as your team gets bigger, the day-to-day operations become more complicated, and you might want to start taking a step back from certain tasks altogether.   That’s where a COO comes in to save the day. A successful, growing agency must have someone to handle day-to-day operations and implement systems and processes properly. And if you have the right person to take some tasks off your plate, that opens you up to focus on the parts of the business you’re most passionate about, like being a visionary. This week, I’m talking with Carolyn Lodge about the signs and symptoms of when it’s time to grow your leadership team and hire a COO. We discuss how to identify the right person for the job, their roles and expectations, how to integrate them with the rest of your team to build trust, and what traits are most commonly needed in the COO position. A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: The clues that show it might be time to hire a COO What size agency is too small to have a COO role The skills and traits of a good COO Implementing the founder’s or owner’s vision Building trust within your leadership team as you bring on new team members Ensuring your COO is a good culture fit for the job How a COO changes the day-to-day of a CEO Go-to questions to vet a potential COO

Katy Boos, an expert in thought leadership and public speaking, shares practical tools for agency owners and leaders to establish themselves as thought leaders. Topics include the benefits of speaking at events, choosing the right audience, narrowing down topics, the impact of COVID on live events, pitching yourself for podcasts, and delivering value as a conference speaker.

Lately, agency owners and leaders have been hitting their heads against a biz dev brick wall. With increased sales cycles, difficulty getting clients to start projects, tightened budgets, and more, it seems like we’re in a cycle of never-ending struggle. Even if the future looks bleak, there are always more things that can be done and new strategies to try to help push through a difficult time. That’s why now more than ever, it’s critical for agency owners and leaders to track certain metrics to ensure you’ll end 2023 in the black, even as everyone is seemingly tightening their belts. This week, I’m sharing five metrics you should be tracking with your teams to ensure you’re making the right strategic decisions during heightened hardship. From taking a closer look at your numbers to ensuring client satisfaction, we have the tools to help you end the year in the black against all odds. For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and its profitability through agency owner peer groups, consulting, coaching, workshops and more. A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. In This Episode: Tracking your 55-25-20 AGI metrics more closely Deciding where to move money around to keep good employees Doubling down on biz dev efforts Getting your existing clients to spend more money on you Why AEs should be helping to grow the existing client base Why client satisfaction scores are more critical than ever Good employee retention sends a positive message to customers

In-person networking and relationship building are not dead. For agencies, it remains one of the most important methods of building your client base. And unfortunately, odds are you’re not doing it enough.   Showing up is a huge part of the biz dev battle that a Zoom call or Slack channel just can’t fix. And in a time when many of us have to rely on current clients to keep ourselves afloat, cutting corners on new business opportunities won’t get us very far. For Hank Blank, some of the biggest red flags from the clients’ perspective directly result from our increasingly virtual ways of doing business. In his eyes, you will struggle to find new clients if you’re not attending events, doing in-person networking, inviting people into your agency’s space, or making philanthropic efforts in your community. If you want to learn what always stands the test of time for agencies battling it out for new clients, don’t miss this conversation with one of the best in the business. A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: How smaller agencies can stand out against large agencies with in-house teams The biggest mistakes agencies make when searching for new business How agencies make themselves look unavailable or uninterested in new clients Why in-person networking is still imperative for growing a client base How agencies can develop a meaningful brand for themselves Letting creativity guide you in your networking and biz dev The 3 things that win new business Making working at an agency fun again Getting ahead of the competition to educate clients on new technology

The workforce has changed forever, which has brought change fatigue along with it. This means how we navigate problem-solving and facilitate change amongst our teams has to change, too. This week, I’m chatting with Jenny Magic, an expert in all things change and team morale. For almost 20 years, she’s been working with agency leaders and their teams to help implement strategies. She noticed that there were often major disconnects between agency leaders and their team’s opinions on new strategies and changes to SOPs. She set out to discover what makes teams get on board with change without getting burnt out.   We’ll discuss the best ways to facilitate change with your teams, get employees on board with your ideas and strategies, and the importance of psychological safety for employees to share openly. When you know how to facilitate change effectively, you’ll be surprised how much easier it is to get your teams on board with new ideas and strategies. A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: How the world of change has changed How to line up change so that it actually gets implemented The cost of change The real roots of change fatigue Why so many employees start “treading water” when you try a new strategy The value of co-creating change with your team Utilizing confidential inquiries to get honest responses from employees There is no “one-size fits all” training model that actually works Creating psychological safety among team members

AI expert Paul Roetzer discusses the peaks and pitfalls of AI innovation in agencies, focusing on adapting to AI tools, copyright concerns, client-agency co-creation, and the future of agencies in the age of AI. He highlights the importance of testing, piloting AI tools, and navigating the evolving AI landscape. The podcast sheds light on challenges faced by agencies in integrating AI, balancing AI tools with human insight, and investing in multiple promising AI companies.