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

A lot of entrepreneurs like to create an e-book but they don't multi-purpose this content as well as they could. Check out this short #AskSwenk episode for some tips and tricks on creating micro content, across many different platforms to get more life from it.

Are you using CRM software the best way to track leads for your business? If you are facing some challenges, I can help.

Customer Relationship Management (CRM) is HUGE in any industry where you've got multiple leads at various stages in the sales process. CRM software is a must in keeping organized and optimizing every opportunity. The best way to use CRM is to create levels and use the levels to get a handle on cash projections.

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My agency had four levels in our CRM system for prospects who requested to be contacted.

Level 1 - This level is people we needed to chat with and qualify. Remember to use my NBAT technique to qualify leads quickly. If you don't know about NBAT, watch this quick video about assessing Need, Budget, Authority and Timing.

Level 2 - These people were qualified and needed a meeting to sell our foot in the door offer, such as a discovery or audit. (More on that in this post.)

Level 3 - Leads at this level were ones in the proposal stage. We had qualified them and established a relationship in levels 1 and 2.

Level 4 - This level was only for the done deal, after we got approvals and sign offs to proceed.

Remember when you set up your levels, these are just for potential customers who ASKED to be contacted. People who enter your system through a lead magnet, should stay in the "lead bucket" until they indicate otherwise.

For revenue forecasting purposes, we assigned percentages to each level. You can start by using my numbers below and fine tune them once you have a good handle on your own rates.

Level 1 - About 10% of the people in this level will turn into sales.

Level 2 - Roughly 25% in this level convert to sales.

Level 3 - Between 50-75% of these prospects will become clients.

Level 4 - Anywhere from 75-100% will close the deal.

Use the percentages and get a great snapshot of your cash projection. Use this to analyze your accounting systems, accounts receivable, recurring revenue and more.

Once you know how to optimise your cash projections using CRM software, it's now time to look at the bigger picture of your agency, you can focus on areas you haven't explored yet as well as struggles you need to focus on to improve your business and then check out how I have all you need to get through these obstacles.

I have covered everything from increasing website conversions, how to implement Facebook in your marketing strategy as well as why building authority to improve your agency is important.

If growth is your focus, I've discussed the different phases of growth within your agency and the three questions you need to ask yourself to sell your services to more customers.

You can learn more about my career and experiences as well as lots of tips, tricks and insights by reading my blogs that cover a wide variety of topics.

Check out more from my Ask Swenk series and more of my videos on my Youtube channel. There you will find advice from myself and other agency experts.

Are you starting to look into the opportunities available if you were to sell your agency? Are you unsure of how you can value your agency correctly and make it appealing to buyers?

It can be super exciting when someone is interested in acquiring your agency… right up until the time that it gets super overwhelming. Here are the steps you need to take to make sure that when you sell your agency, it goes as smoothly as possible while also benefiting you and your employees the most.

Do you want to know the Agency Valuation Formula?

These deals are done in a two-tier structure: cash amount and earn out. Come up with your cash amount figure, present it to the buyer and make sure you're happy with the amount. Most earn outs are structured in a way that make them unachievable, so don't get your heart set on earning it.

Celebrations and telling people too soon could seriously bite you in the ass. If someone is inquiring, they have interest but there is no deal in place. Keep it "business as usual" and try not to mentally spend all that money you think you're going to get in the buyout.

You'll feel the need to provide a ton of information to make sure the deal pans out. Stop yourself from tipping your hand too much. This buyer is probably a competitor, so why would you tell them all your secrets? They will want to know things like: margins, revenue, growth, client list, employees, and all that is alright to share. But don't start handing over documents, processes, or anything that is not necessary for them to get the full scope of the potential transaction. And, anything they ask you is fair game for you to ask them in return. Ask relevant questions to make sure they have the capability to buy.

LOIs resemble written contracts, but are usually not binding on what the purchaser evaluates your agency's worth. It is always good to know how to evaluate the worth of your agency, check out my Agency Valuation Chart as a starting point to see what your agency might be worth. The chart shows you the EBITDA (Earnings Before Interest, Taxes, Depreciation and Amoritization).

Keep things quiet and keep moving your business forward. Instead of daydreaming of ways to spend your new income, act like it's not going to happen. Reality check: it may not happen. These things collapse all the time and if you check out now, your business bottoms out and you're left with no deal and no agency. In the meantime, learn what you can about your buyer. What their intentions or reasons for the acquisition? Do they want your clients? Do they need you for your specialization? Are they trying to expand in your geographical location? Learn what you can to help make this is smooth transition for your employees IF (not when) the time comes.

You might want to check out my Agency Mastermind group. This is a group of like-minded individuals that meets every other week , so it's not a huge time commitment but the benefits are immeasurable. You can read more details here and if you're interested there is a brief application process. You'll fill out a quick form and I'll let you know if the group is a good fit for you.

Through my years of experience, It's allowed me to provide advice on many topics from the struggles you may face with failing economies and recessions to how accepting a speaking opportunity can create business and the four phases of growth you may experience within your agency.

Want extra help in taking your agency to the next level and sell your agency for a larger profit? Or want to become a better agency owner?

Learn more about me and my experience and find lots of tips, tricks and insights by reading our blogs that cover a wide variety of topics!

If videos are more your thing, don't worry, i've got you covered! Check out my Ask Swenk series and more of my videos on my Youtube channel for advice from myself and other agency experts.

Have you ever considered running your business with an agency partner? It's not easy being agency stakeholders and close friends but in this episode, these two ladies have it all figured out. Renee Warren and Heather Carson, co-founders of Onboardly, a demand marketing agency servicing clients in PR, content marketing, and social media talk with me about their secrets... Secrets to successful partnerships, secrets to their agency growth, and the one secret every new startup owner needs to know.

I usually tell people, "You either know the bad partner or you are the bad partner." Not true for Renee and Heather. They get along like besties and they tell me it's because they have rules for keeping business and friendship separate. They are careful to keep the lines drawn and clear about when they're wearing their "friend hat" or their "founder hat". They say this distinction has really made a lot of hard conversations go more smoothly than they might've otherwise.

Heather and Renee also told me another key to their successful partnership is trust. Both ladies are totally confident that the other has the company's best interest at heart when making decisions or representing the business. There's no control freak in this duo!

Another thing they've found helpful is bringing a mentor or advisor in when they've needed some guidance or third-party input. (Not to brag but they did give me some props here.) And, even if it's not me, I agree that an unbiased opinion from an outsider can really benefit an agency partner and solopreneurs. Learn from the mistakes and successes of those who have been there and done it.

Onboardly was established in 2011. Throughout those four years, Renee and Heather have learned a few things about growing their agency. Here are their 3 tips for actualizing growth:

For starters, these partners share the same goals and have a growth mindset. When their company reached a plateau in the third year, they decided to focus on removing the obstacles that were standing in their way. They articulate their goals to each other and their team, and don't let excuses get in the way.

Not only do they have a specific niche, but Heather and Renee are also very selective in which clients they will work with inside that niche. These ladies are clear that they will only work with clients that will allow them to produce good work. They won't spin their wheels on clients that require too much red tape or hand-holding. And over the past few years, Heather has honed her process for vetting clients which saves them a lot of time and energy in the long run.

They've done it. Even when it was hard, Renee and Heather have turned down work from family and friends. They've turned away work from clients who couldn't afford them. They have had those awkward "thanks, but no thanks" conversations that keep the integrity of their business intact.

These ladies believe that if you get into business for any reason other than yourself, you're in it for the wrong reason. Knowing your "why" creates the playbook for your entire organization. It defines your culture, your employees, your clients... it becomes everything. In hindsight, if they'd known and articulated their purpose sooner it may have changed the trajectory of their entire business. Bottom line: be true to your story and don't lose sight of it.

They are the startup for startups. Now, they're not in their early stages anymore but they still act like a startup. They model their clients by using the same systems and technology. They want to be able to relate to and provide value to their clients.

Would you like to meet other agency owners that have achieved what you're aspiring towards? That's what my Agency Mastermind group is all about. As a group and a team... we will work together to figure out the best sales, operations, and marketing strategies needed to exceed your goals. In other words, you will have all of the help you need to crush it! Learn more by clicking here...

Having an agency partner to run your business with you can bring many benefits but I suggest making sure to take my advice and find someone that is the best fit for you when you are ready to start your journey with an agency partner. Taking a step back and reviewing any other areas of weakness in your agency, how else I can help?

During my time in the industry, I have had my own experience running my own digital agency and helping other digital agency owners so there are many topics where I can offer guidance. Whether you are experiencing challenges as an established agency or a new agency unsure of what the different phases of growth you will experience will look like, I've got you covered.

As you continue to grow your agency team, I can show you how to recognize when it's time to hire a sales manager or expand your sales team to perfect your business strategy by creating a process for performance-based pricing and how to keep your big name clients happy.

Are you ready to create something cool and want more advice? Learn about my career and different experiences as well as tips, tricks and insights by checking out my blogs that cover a wide variety of topics.

Check out more from my Ask Swenk series and more of my videos on my YouTube channel. There you will find advice from myself

If you've ever spent time spinning your wheels on a pitch only to find out you weren't talking to the decision maker, they don't have the budget, or they have unrealistic time frame then here are four things you need to do right away.

Think of N.B.A.T. before engaging in any new project conversation...

Ask what the specific needs are and what specific end results they're expecting. Ask how this project fits in with the overall company vision. If they need to pull in another person to answer that question, hold onto that nugget of information.

Ask for the the budget. More often than not, you won't get an actual number so act like a reverse auctioneer… Start with a ridiculously high number saying, "Is your budget $500,000, or $400,000, maybe $300,000…?" They either give you a more realistic range or the name of someone who knows. Hold onto that nugget of information, too!

Were they able to answer the questions about need and budget? If not, and they gave you an other name or two, then you know who you really need to be talking to.

Only you know what you can do and how long it takes. You might really want or even need this project but, if the timing has unrealistic parameters you are setting yourself up for failure.

Prospecting clients can be a major pain but I hope these steps improve your processes and get your agency moving more smoothly. This may be only one of a number of processes you need to focus on within your agency to improve it as a whole but I can help you get through all of it.

I can give you advice on what to do when you are presented with new client opportunities as well as the different ways of building agency authority.

Growing your agency can be a major goal for many agency owners. I can show you the different phases of growth you will experience, how placing a process for performance based pricing can be the best pricing strategy for your business and the three questions you need to ask yourself to sell more!

You can also learn about my career and different experiences as well as lots of tips, tricks and insights by checking out my blogs that cover a wide variety of topics.

Check out more from my Ask Swenk series and more of my videos on my YouTube channel. There you will find advice from myself and other agency experts.