There are lots of talk of a looming recession so what should you do and be focused 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?
Well, these questions and more are answered in this broad-ranging discussion in today’s episode of the Podcast. 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 agency’s business development strategies.
[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 their 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
“If someone says NO to buying from you TODAY, it doesn’t mean they won’t 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
“I am 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: