Stop Losing Money: Track & Grow Your Agency

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Careers, Business, Marketing

4.6 • 1.3K Ratings

🗓️ 30 November 2024

⏱️ 18 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this bonus episode, we give you a sneak peek into what our Agency Owners Association (AOA) hangouts look like. Join their discussion of insider strategies on optimizing profitability, tracking efficiency, raising prices, and scaling through acquisitions. Don’t forget to help us grow by subscribing and liking on YouTube! Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT) TIME-STAMPED SHOW NOTES: (00:00) Introduction to Agency Growth Strategies (02:54) Tracking Efficiency and Profitability in Agencies (06:01) Marketing Budget Allocation for Agencies (09:00) The Importance of Management Teams in Agency Sales (11:54) Year-End Reflection and Planning for Agencies (15:02) Pricing Strategies and Value Proposition in Agencies Go to https://www.marketingschool.io to learn more! Leave Some Feedback: What should we talk about next? Did you enjoy this episode? If so, please leave a short review. Connect with Us: Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu

Transcript

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0:00.0	All right. So we have a little treat for you. So this is a coaching call from the agency
0:05.1	owners association. This is a group that Neil and I have for agency owners to help you grow faster.
0:10.2	So if you're in agency space, you are a services business. This is applicable to you. It's a little
0:14.5	preview of a call. It's probably 10, 15 minutes or so. And you get a sense for what it looks like
0:18.6	to be in the group. If you want to learn more about the group, you can go to marketing school.io slash agency.
0:23.6	Again, it's marketing school.com slash agency.
0:26.2	Hope you enjoy the episode.
0:27.8	Yeah, Neil, Eric, obviously you guys are in the acquisition marketplace, you know,
0:33.6	looking to roll up agencies, you know, as, you know, you're adding to your agency.
0:42.1	There's a lot of people out there doing that.
0:44.4	You know, it's we learned yesterday from Marcel, there was, you know, some really insightful
0:49.8	things that I probably wasn't aware of from a financial perspective because my accountant's
0:55.2	looking more, and he said it, more from a tax perspective, and he's looking more from a management
1:01.4	perspective, you know, about, you know, average, or what was it called, like, average dollars per hour,
1:09.7	like trying to roll things up that you can manage.
1:13.0	I was just curious if you guys do that in-house, you know, in your agencies to be able to track
1:21.1	your efficiency, your billable hours, even though you might not bill.
1:26.1	Like what was interesting is you might not bill
1:29.0	on an hourly basis, but it's still good to know your billable hour and profitability that way.
1:35.1	So I'm just curious.
1:36.8	And then do you look for that from agencies that you're buying for that sophistication?
1:41.3	Because he was saying about 70, 80% of agencies are not doing this.
	...

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