I get to meet a lot of digital marketing agency owners and most are struggling.
Probably the biggest reason for their hardship is that they started their company with the wrong business model.
They probably took the old school agency model of only doing custom projects.
Or they listened to the “productized service” guys and chose a monthly recurring revenue only model.
As I’ve taught in this playlist ( you must do multiple projects plus monthly recurring revenue. I call this “Grow The Account.”
Marketing is a creative business. That means you must create, not simply maintain.
I can’t count how many new agency owners only want to do the same service over and over.
If they do SEO then they just want to plop out an article a week for a keyword phrase.
If they do social media ads then they want to copy and paste ads and send a monthly report about click through rates.
Maybe it’s just laziness causing this bad business model choice.
But if you want to have a highly successful marketing agency then you will need to create for your clients.
And I want you to get paid handsomely for doing so.
Watch, comment and subscribe to grow your agency. .
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The Best Business Model For Your Marketing Agency In 2021
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The Best Business Model For Your Marketing Agency In 2021
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I'm from Brazil, best video I've even seen about agency business model, I've seen a lot…… thanks for sharing! =)
Thank you for this video!
Still relevant in 2021! thank you Tim!
This is a fact
I am so glad I found your channel. I’m making the transition from music videography company to digital marketing firm. I say firm cuz I don’t feel like an agency But I’ve been trying to figure out how to split percentage of lead sales with my clients. Like how to keep my client honest after I generate the leads and hand them over?
Best business model for designing agency?
Just popped out on my feed as recommended and I don’t regret it. Super valuable content ! Keep it going ! 💯
This is hands down the worst video I've ever seen. The problems you're describing are issues that arise when a business is poorly run – not a result of monthly recurring revenue.
If you don't have contracts to lock in clients for 6-12 months then you're an idiot. If you can't aquire a new client at a profitable figure, you're an idiot. If you can't service a client for the minimum term (6 months) and NOT make a profit, you're an idiot.
Here's an idea…Why not add a setup fee that offsets the client acquisition cost?? Why not charge the client enough per month that you can profitably create new campaigns and continue to provide results? Not just maintain?
Literally all the problems you explain are a result of poor planning and poor business management.
Hi Tim.!
So,you mean we should pitch that we're going to charge for every milestone we're gonna conquer.
I mean I'll be charging for the research, setup, maintain, creative & so ans so..?
Hi Tim. Thank you so much for this video
Hi Tim, great video. We are more of an SEO agency/ PPC. What kind of training or coaching could be done around these services?
Thank you for sharing!
Thanks for the great content!
I hear what you say and always separate the strategy and setup phase, from the monthly "maintenance".
I still find that the market is used to a certain kind of offer, and fewer clients will work with you, if most of the payment is upfront (in the sense of "thinking/building phase").
Don't you think that there should be a PERCEIVED seperation, rather than a STRUCTURAL one?
I mean that I'm seperating between setup and maintenance WORK and FEES at the beginning, but as to the strategy, I'm offering it as an ongoing project with auditing and improving every 45 days. The clients knows that they're paying extra for this OPTIMIZATION, and this is my differentiation in specific industries, because experience and data are keys for improvement. AND IT'S A PART FROM THE OVERALL MAINTANACE FEE.
I still have to make more training offers though 🙂
My favourite model is the agency/incubator.
"I don't build in order to have clients. I have clients in order to build."
Ayn Rand
create new products and procedures on projects, build them into your productized services
Jim Carrey, is that u lol?
This is great information, love the passion in your videos
You’ve helped me gain a ton of clarity, after a year and a half of burnout from client work. Clients need custom strategies and work, productizing just doesn’t work well in the agency world nowadays. Expect horrible churn if you do. Just think like your client, would they want a productized service they have to pay thousands of dollars per month for that isn’t specific to their needs, or would they want a custom, detailed strategy and diagnosis that clearly outlines what they need and how they can succeed with their marketing before implementation. It’s like going to the doctor, would you prefer to get a “productized treatment” where they just give you a prescription, assuming it will solve your problems without really knowing what’s wrong, or do you want someone who goes in-depth, does testing, gives a proper diagnosis, refers you to the right specialists, treatment plan, etc. Obviously the latter. So do that for your clients. It’s more work, but that’s how you get big deals, happy clients, and keep them for a very long time. Thanks Tim!
How to get in touch with you to see if you can help me with my translation agency/team?
Seer flipping value!!!
Tim,
Very interesting video! I'm coming from the other side of the table as someone in Marketing Procurement, but am interested in the agency perspective. The reality is agencies and clients can only have a long term relationship when they BOTH win.
There is a lot of talk in line with what you are saying. Remuneration models are under review, and a general trend away from retained teams seems to be happening. So why does it seem to be so hard to drive that conversation with agencies to change pricing models? From where I sit retainers are far too transactional.
Tim , what do you think to get as a 50 % technological partner in a project , any video discussing this model??
The problem is many “gurus” out there make it seems pretty easy to succeed and make massive income and run a business that will eventually support you for a life time ! It’s sad !
Hi Sir Tim I cater small-medium businesses in Philippines, will this business model still work?
Hi Tim. My name is Alexandar and I’m the co-owner of Fideo, a videomarketing agency in the Netherlands. What you tell about the monthly finance struggle is very recognizable 🙃 What you tell about your model is very inspiring 😯 Got tons of ideas to change things for the better, for ourselves and for our clients 😁 Thank you! Curious for all of your other videos.
cool "acting" )
I love your content 🙂
Thank you for this 🙏
Great video tim, your knowledge is appreciated.
Great video Tim! I 100% agree that we should sell our strategy (thinking) first and then our labor.
One question: do you think that we should offer monthly services WITH training? This way steps #3 and #4 in minute 7:41 will be the same one. I am in my customer´s shoes and they want to start seeing results fast so if we take too long to offer our monthly services because we are doing a strategy, implementing it and training them they may get impatient and go with another agency that offers their monthly services earlier.
Tim, you're like the Bob Ross of agency consulting.
Tim, you're like the Bob Ross of agency consulting.
Great as always Tim. Thanks.
Do you find this same principle works as a one man consultancy as well?
GO TIM!
Tim, you've seen it all
Thank you Tim, the knowledge you share is worth its weight in gold.
The application of this advice and agency structure is life-changing. I’ve already adopted it on all new clients and am planning it’s implementation with my existing clients.
Analysis, strategy, projects, and maintenance.
The get paid for strategy / consulting embeds expertise and authority and opens the pathway to future memberships, affiliate, courses, and more.
It’s like I went from a black and white world to full color. The beauty is almost overwhelming.
Now these videos are like daily affirmations, to make habits of this thinking, to ingrain it deep into the psyche.
Freaking priceless knowledge bombs Tim. You’re awesome for sharing them.
Extremely valuable content Tim. I´ve run my own Digitial Marketing Agency for four years now thinking that MRR and maintenance was the way to go but it clearly is not how to do it. I found your channel a few weeks ago and I've seen all the videos multiple times. Everything that you say make soooo much sense. I'm completly changing my business model now based on what you say. I'll keep you posted on how it works. Thanks again for sharing you knowledge Tim.
I like that your content is mature and full of wisdom and experience. I've already implemented your "no proposal before agreement" advice. Thanks Tim.