I recently attended the Traffic and Conversion Summit and gleaned valuable nuggets of advice from the heads of many of the top digital marketing agencies. This summit was one of the top events in the marketing realm. There was so much information to learn that I took over 100 pages of notes! I was looking for key insights on how to run better digital marketing agencies. Listen to this episode to hear the gold mine of knowledge I received from those at the top of the digital marketing world.
Outline of This Episode
[3:22] If you’re not innovating then you’ll disappear
[9:24] Keep the financials simple
[14:11] The rapid agency growth plan
[18:24] What are the top digital marketing agencies are doing?
[24:56] How to attract high ticket clients?
[30:18] How to improve retention in your client base
[37:55] Use Facebook Live to focus on 3 key topics
If you’re not innovating then you will disappear
The digital marketing world is changing so quickly. It has gone from standardization to proliferation to consolidation. We are now at a stage that instead of thinking fast and putting everything on autopilot, its time to slow things down. Rather than automating everything we can we need to bring in a more personal conversation. Think of the customer life cycle as a journey. How can you optimize that customer journey through your digital marketing agency? You don’t want to take away automation completely, but bring the automation to lead to a real conversation.
What are the top digital marketing agencies doing?
The top digital marketing agencies focus on 1 niche and become experts in that niche. Although they are the experts in that particular niche, they also have cross channel marketing experience. They speak the marketing language and their clients see them as the experts in marketing that they are. Top digital marketing agencies also create a world-class onboarding experience for their clients. They train both their teams and their clients. Richard Branson says that you should train your team so well that they can go anywhere, but treat them so well that they want to stay right where they are. Top digital marketing agencies also develop communities for their clients. They get to know them well and bring them into groups of like-minded clientele. So what are you doing to create a top digital marketing agency?
How can you add value to your customer journey and up your close rate?
Remember you’re the guide, not the star. You don’t want to position your digital marketing agency as the hero that comes to save the day. You want to ensure that you are guiding your client to success. The average close rate for digital marketing agencies is 11%. How clients find you is a big part of your average closing rate. If a potential client comes through a cold call or email, then they are a much harder sell. Sales processes fail when they are more focused on extracting value as opposed to adding value. You need to think about what your customer value journey is and how you can add value. Your process should be less like a hard sell and more like a value-added conversation. What kind of value are you providing to your potential clients?
How to improve retention in your client base
Happy clients write recommendations, successful clients bring referrals. Your job is to focus on sales for your clients, you are not simply there to get them ranked on Google. When you focus on generating the result the client wants you to create more successful clients. You also need to be clear on the different types of clients you serve. Within your niche, there are different types of personalities. When you get to know them better you will realize that 20% of your clients generate 80% of the results. Use that 20 % to help others. You can make these clients the hero of your story. Learn how to develop a relationship with your top clients and develop a community to help improve retention in your client base by listening to this episode.
Key Insights for Agencies Land Clients • Deliver Results • Retain Longterm • Scale • 100+ Sessions • Over 6,000 in attendance • Some of the brightest & best digital marketers from across the world • Billionaire Sr. Richard Branson Key Insights • 5 Stages of Technology
Must be more personal in our marketing • Use automated bots to start REAL conversation • Send emails without links that invite replies for REAL conversations The future belongs to those that invest in CONVERSATIONS
Key Insights • We MUST Innovate • Send emails with out links (SPEARs) • Manage FB Groups for community • Post unrelated content • Answer stupid questions • 1-on-1 on boarding • Write a book • Publish a podcast Key Insights
The Future of Agencies • $75M Agency in 5 years • Background in eCommerce • If you want to start an agency you better be a GOOD marketer • Its hard to maintain culture & control with distributed • You must educate your clients & be transparent.
It’s a collaborative relationship / process Key Insights
Rapid Agency Growth Plan • You are the Guide not the Star • 11% is the average close rate for digital marketing services • Most sales processes fail because they focus on extracting value • 80% see NO value in interacting with Sales People Key Insights
What the TOP 1% of agencies doing • Focusing on 1 NICHE • Cross Chanel Marketing (Not just 1 service) • Onboarding Experience • Training clients & team • Conversation Marketing (SPEARS) • Developing Community Key Insights
Attract more High ticket clients • Focuses on LASIK • Your client is the hero…you are Yoda • The #1 thing they wat is a predictable way to get clients & convert them into sales • You don’t have to do it all – build a world class sphere of providers • The pricing page was the focus page that drives conversion – Pricing Opt-In Kit • Focus on SALES not just leads for your client • Setup OptiCall to reach out to unbooked leads via phone Key Insights
Improve Retention with 3 moves • Works with Fitness Centers – $600K per mo • Improved retention from 42% to 92% • Understand 3 types of business – Fit Guy, Biz Guy & Transition Guy • Build great relationships with TOP clients (in person, wine/dine, interviews) • Create training & establish reputation for helping (Let top clients lead the conversation)…the cool kids • Build Community – Client FB Group that starts to be a value in and of itself Key Insights
Building your brand with Social media •If you publish stuff people like & it helps them…they will hire you. •Facebook LIVE video is the play (3-8 min) •Frequency is key and its a lot more than 7 times more like hundreds of times •3 Keys
Provide Value (they don’t care about you)
Build Good Will
Every piece of content needs to make an offer
•The amount of revenue is in direct proportion to the value you put into the market Key Insights
24. WHAT’S WORKING WITH GOOGLE ADS NOW MIKE RHODES
What’s working with Google Ads Now • Gogle is ALL in with Artificial Intelligence – Deep Mind is their AI Engine that they invested over 1/2 Billlion for • Already beat the words best at GO & Starcraft • Future = Smart People, Working With Smart Machines • Smart bidding is NOT there yet. Text & never set it / forget it • Occasionally better CTR but worse Conversion Rate • Don’t optimize for lowest cost per lead. Optimize for maximize exposure & profit. • A great shortcut for hiring a good AdWords Guy…find out if they play strategy games Key Insights
The Ultimate Agency Funnel • Get clients coming to you rather than chasing them down • You don’t need a fancy funnel…just 3 simple steps – Opt-in, Appointment, & Hot Lead Follow Up • The money is not in the list…it’s in the relationship with the list • Monthly topical webinars are the ultimate content lever • One webinar per month can drive your entire content & lead gen engine • You can get people to meet with you even if they don’t sit on your webinar • You can build a 7 Figure Agency in 1 Year by landing 5 new clients per month at $1,350 per month recurring Key Insights
Let’s discuss how we can help your agency grow to seven figures. We explore what you’re doing now, and what it takes to move your digital marketing agency from 6 to 7 figures. Click the big red button above to schedule your complimentary session.
I started my local internet marketing agency in 2011. We started with ZERO clients and ZERO revenue. Now, we bill $375,000 per month ($4.5 Million per year), and grow every month. There are three keys to that kind of digital agency growth: ► Choose a niche and focus intensely on serving it. ► Position yourself as THE expert in that niche. ► Serve your niche clients better than any competitor can. In fact, our business is growing so consistently that we have awards to prove it. We have made the Inc. 5000 list of fastest-growing US companies four years in a row—2016, 2017, 2018, 2019. You can watch a video where I explain how we grew our agency to the Inc. 5000 list by clicking here.