What Most Marketing Agencies Won't Tell You | Ep. #553

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Business, Marketing, Careers

4.6 • 1.4K Ratings

🗓️ 4 February 2018

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode #553, Eric and Neil reveal some important things that big agencies won’t tell you. Tune in to hear what you should know before signing on to work with a major marketing agency. Time-Stamped Show Notes: [00:27] Today’s Topic: What Most Marketing Agencies Won't Tell You [00:37] There are good and bad clients. [00:45] They measure this using the labor efficiency ratio. [01:04] When the whales are profitable, you are going to spend more time on that client. [01:24] Most agencies are pitching a dream, but they aren’t always able to deliver. [02:10] When you go to Chipotle or Taco Bell, you’re expecting the same thing every time. [02:20] When you have an agency with hundreds of clients, you are looking to deliver the same experience every time, to everyone. [02:32] Eric recommends that you actually have an in-house marketing person to have a laser focus on your goals. [03:12] Maybe start with an agency, then hire someone full-time, then consider using an agency again. [03:32] When you are starting out, you say “yes” to everything simply because you need to earn revenue. [03:40] When you’re established, you can be a lot more selective. [03:53] Eric feels the quality of his work suffered when he was doing every aspect of marketing and was trying to deliver on things that weren’t his or his agency’s strengths. [04:34] The quality of paid ads and SEO is better now, because he isn’t spread so thin. [04:56] People on Eric’s team want to add services, but he’s trying to temper that. [05:22] When working with an agency, you have to ask them what their strengths are. [06:04] You only want to work with people on things that they are good at. [06:22] Full-service agencies are big, brand names, with great revenue, but the quality suffered because they couldn’t possibly specialize in anything. [07:00] That’s it for Today! [07:04] Go to Singlegrain.com/Giveway for a special edition of Crazy Egg, the heat mapping tool. [07:09] Tweet at Eric @Ericosiu and let him know if you want them to curate their podcast content. Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Get ready for your daily dose of marketing strategies and tactics from
0:06.8	entrepreneurs with the guile and experience to help you find success in any
0:11.4	marketing capacity. You're listening to marketing school with
0:14.9	your instructors Neil Patel and Eric Sue.
0:18.6	All right guys before we start we got a special message from our sponsor.
0:27.0	If you want to rank higher on Google, you got to look at your page speed time.
0:31.5	The faster your website loads, the better off you are. With
0:34.4	Google's core vital update, that makes it super, super important to optimize your
0:38.5	site for low time. And one easy way to do it is use the host that Eric and I use dream
0:44.5	host so just go to dream host or Google it find it check it out and it's a great way
0:49.7	to improve your load time.
0:55.0	Welcome to another episode of Marketing School. I'm Erid Sue, and I'm Neil Patel, and today we are going to talk about what most marketing
1:00.1	agencies won't tell you.
1:01.4	So Neil and I both have agencies in addition to all the other
1:04.2	stuff that we're working on. So the first thing I'll say is most agencies in
1:09.1	actually all cases there are better clients and there are worse clients. What do I mean by that?
1:14.0	Well the way we measure it is we will look at the labor efficiency ratio so we're looking at the
1:18.6	you know the gross profit divided by you know the employee salaries and we get a ratio, right?
1:24.2	And we look at the ratio and we say, okay,
1:26.0	if it's above two, we're doing a good job with the client.
1:28.2	This is very, we're being very efficient with the client, right?
1:31.0	Or you can look at even profitability per client, but when you look at the big
	...

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