The Agency Accelerator
Ensuring Your Agency Thrives in a Recession
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Episode notes
There is lots of talk of a looming recession so what should you do and what should you be focusing on right now to ensure that your agency is recession-proof?
What is the difference between an agency that thrives in a recession and one that just scraps by?
These questions and more are answered in this broad-ranging discussion in today's video. And I'm really excited to have with me, Ollie Duffy-Lee, who is the founder of the Authority Agency, the growth agency company that supports agencies with their business development strategies.
Time Stamp
[01:45] What should agencies be focused on right now as we are heading towards a recession?
[02:35] Why you should never rely on referrals for new business - especially in a recession
[03:55] Focus on client retention and stop expecting instant gratification
[07:43] What are some of the smart non-negotiable strategies an agency must put in place?
[09:02] Build a personal brand around you, the founder
[10:00] If we are not focused on lead gen how does the sales funnel look?
[12:50] The importance of building and nurturing your email list
[15:25] How to manage clients and your business during a recession
[17:40] Don’t talk yourself into a recession!
[19:00] Ask yourself “does my client see us as a safe pair of hands (a brief taker) or a strategic partner (a brief maker?)”
[19:45] What does an agency need to do to be seen as a strategic partner by its clients?
[21:06] What internal changes should an agency make in a recession?
[22:23] The importance of knowing your data and metrics
[23:43] How big a financial buffer should you aim for?
[26:35] Ollie’s business advice to his younger self
Quotations
“If you want to retain your clients be a ‘brief maker’ not a ‘brief taker’” - Ollie Duffy-Lee
“If someone says NO to buying from you TODAY, it doesn't mean they won’t buy from you TOMORROW” - Rob Da Costa
“I am a big believer on BRAND over LEAD GEN - focus on being in ATTRACT mode rather than CHASING mode” - Ollie Duffy-Lee
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Useful links mentioned in this episode: