Drew McLellan

This week on Building a Better Agency, we’re jumping right back into our breakdown of 2022 Marketing Trends. Last time, we talked about noticeable trends in agency spending, shifting client expectations, and not missing out on opportunities for business development. This time, we’re taking things a bit closer to home by talking about trends we’re seeing in our own marketing tactics, in our employees, and in ourselves as agency owners. If you didn’t catch Part 1 of this conversation during our last solocast episode (#345) — no worries! There’s still plenty of time to go back and catch up. Then join us here for Part 2 of our discussion on the industry trends, insights, and predictions that agency owners should know about before entering the second half of the year. A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: The marketing trends we’re seeing with agency owners, employees, and tactics Why agency owners across the board are so dang exhausted (nope, it’s not just you!) Why Drew believes that agency owners aren’t just tired, but tired of being afraid Where are agencies at with the whole “work from home” situation? What’s working and what isn’t? Why employees have never been more expensive than they are right now — and when that pendulum will swing back. Which marketing and sales tactics are working best for agencies right now

Summertime is just around the corner, which means now is the perfect time of year for agency owners like us to take stock of where we’re at now and where we want to be sitting by the end of the year. How can we get a clear picture of how 2022 is stacking up against 2021? By taking a close look at the trends that have, and will continue, to affect our industry as a whole. On this week’s solocast episode of Build a Better Agency, we’re taking a look at the marketing trends that have shaped the first part of the year so we can mitigate the bad, take advantage of the good, and come into the second half of 2022 stronger than ever. As the title suggests, this discussion is being split into two parts — so be sure to keep an eye out for Part 2 during our next solocast! A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: Which marketing trends are in Drew’s crosshairs — and why How 2022 stacks up against 2021 so far Why so many agencies are feeling the pinch more this year than last The metrics agency owners aren’t paying enough attention to How those metrics can help you add 5% profit to your bottom line this year Business development opportunities that you don’t want to miss out on — and how to make sure you don’t How client expectations have changed in the past few years

Have you considered exiting your agency recently? In this episode of the Innovative Agency podcast, guest Drew McLellan has been in the advertising industry for over 30 years. Today, he advises hundreds of small to mid-sized agencies on how to grow their agency and their profitability. During our conversation, he shares the recent challenges agency owners have faced and how to prepare for a successful succession. What you will learn in this episode: What are some of the biggest challenges that agency leaders are currently facing Why agencies have lost some of their largest clients over the last year How offering strategy and insights help differentiate agencies from others How outside buyers are taking advantage of agency owners experiencing fatigue How to recognize the predictors and traits of internal employees that make good candidates for buying the agency How agency owners can prepare to exit their agency and make the transition easier Why agency owners should separate their IP from the agency during an exit  Bio For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and their profitability through agency owner peer groups, consulting, coaching, workshops, and more. Resources: Email: drew@agencymanagementinstitute.com LinkedIn: https://www.linkedin.com/in/drewmclellan/ Facebook: https://www.facebook.com/agencymanagementinstitute https://www.facebook.com/McLellanMarketing Twitter: https://twitter.com/drewmclellan/

One of the unfortunate truths of our business is that as agency owners, we are almost never in the driver’s seat when it comes to sales engagements. At the end of the day, we have no way to inspire, incent, cajole, bribe, or trick someone into buying agency services until they have a genuine need for them. But, with so much of our focus centered around not making an ask at the wrong time, it’s no surprise that so many of us are left with the same question — when CAN we sell? In this episode of Build a Better Agency, we’re going to answer that question in a few different ways. First, we’re going to talk about what the “right time” to sell looks like not only for our prospects but also for existing clients and former clients. We’re also going to explore ways we as agency owners can accelerate the sales process (because yes, that’s a thing we can do), provide value to our prospects long before we’re in their consideration set, and use our positions of authority to grow our reputation and crush our business development goals — all without selling. For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and its profitability through agency owner peer groups, consulting, coaching, workshops, and more. A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: How agency owners can know whether or not it’s the right time to sell What the right time to sell looks like for your prospects, existing clients, and even for clients who’ve parted ways with your agency Why agency owners are not always in the driver’s seat when it comes to engaging business development opportunities — and why that’s ok How to ensure that you’re providing value to your prospects long before they’re on your radar What agency owners can do to accelerate the sales process The reason Drew says you shouldn’t try to sell until after you’ve been helpful How agencies are crushing their business development goals — without selling

For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own agency (which he still owns and runs) in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and its profitability through agency owner peer groups, consulting, coaching, workshops, and more. What you will learn about in this episode: Why thought leaders are like lighthouses — the metaphor that Drew uses to describe niche authority The key piece of wisdom that will bring clients to your door How to establish trust before people even meet you What the Edelman Trust Barometer is and how you can leverage that information Why your engaged community is authentic proof of your expertise Why we shouldn’t be afraid to narrow our focus on how we serve others The importance of finding right-fit clients Why we need to score our clients every quarter and how to do it How to filter out the sweet spot clients and replicate them Three strategic steps to getting past your fear and stepping into your authority Resources: Website: www.agencymanagementinstitute.com Email: drew@agencymanagementinstitute.com LinkedIn: https://www.linkedin.com/in/drewmclellan/ Facebook: https://www.facebook.com/agencymanagementinstitute https://www.facebook.com/McLellanMarketing Twitter: https://twitter.com/drewmclellan/ Sweet Spot Client Filter Download: https://agencymanagementinstitute.com/client-filter/

Podcast: Build a Better Agency Podcast (LS 48 · TOP 1% what is this?)Episode: EP 285: The importance of masterminds with Drew McLellanPub date: 2021-03-22It’s lonely at the top. While that’s a cliché, as agency owners we all know it to be very true. On those days when you’d sell your agency for a nickel, who do you have to confide in? On the flip side – when you land the biggest account in your agency’s history, who can you call who will be as excited as you are? Surrounding yourself with people who care about your success as much as you do is critical. No one gets owning an agency more than another agency owner. And no one gets owning a business more than another business owner. How do you surround yourself with people who genuinely understand your world and are in your corner? Mastermind groups of various forms have been around for a long time. In fact, Agency Management Institute was founded with agency owner peer groups which are, in essence, a mastermind group. There are plenty of organizations that offer formal mastermind groups but you can also form your own. Either way, it’s essential that you have peers who will be your sounding board, tell you the truth when you don’t want to hear it, and will bend over backwards to help you succeed. In this episode of Build A Better Agency, I want to talk to you about the value of these groups, as well as outlining several ways to ensure its success, including things to look for in a mastermind, understanding the difference between formal and informal groups, meeting structures to implement, the importance of accountability, and creating a safe space for facing crisis. A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here. What You Will Learn in This Episode: The value of a mastermind group Four things to look for in a mastermind Formal vs Informal mastermind groups Models for successful masterminds Ideal size of an informal mastermind group The importance of accountability Deal with crisis in a mastermind How often a mastermind should get together “What a mastermind does for you as a business owner is it gives you other people who have some shared experiences, some different perspective on those experiences, and also have your best interest.” @DrewMcLellanCLICK TO TWEET“The first thing that matters when you’re thinking about a mastermind is to be in a mastermind with people who genuinely care about you as a human being and who care about you in terms of your business success. They are committed to you being…CLICK TO TWEET“I have often said, the best thing about being a business owner is, you’re accountable to no one. The worst part of being a business owner is, you’re accountable to no one.” @DrewMcLellanCLICK TO TWEET“There’s great comfort in knowing that you can command everyone’s attention and they are willing to give you that time and attention.” @DrewMcLellanCLICK TO TWEET“There are times when you don’t honor the exact agenda of the mastermind but, honestly, having an agenda is probably one of the most critical elements of whether or not this is going to work.” @DrewMcLellanCLICK TO TWEET“The questions they ask me help me see with a clarity that I couldn’t see if I was doing it all by myself.” @DrewMcLellanCLICK TO TWEET Ways to contact Drew McLellan: Email: drew@agencymanagementinstitute.com LinkedIn: www.linkedin.com/in/drewmclellan Website: https://agencymanagementinstitute.com/ Tools & Resources: Sell with Authority (buy Drew’s book) Facebook Group for the Build a Better Agency Podcast My Future Self Mini-Course The podcast and artwork embedded on this page are from Drew McLellan, which is the property of its owner and not affiliated with or endorsed by Listen Notes, Inc.

Drew and Susan discuss their findings from the eighth annual Agency Edge Research Series, using input from approximately 1,200 clients in the U.S. spanning multiple industries. This study explores how clients feel about their organization’s ability to endure the recession, the actions they’ve already taken, and how likely they are to make changes that could either positively or negatively affect their agencies.Guests:Susan Baier is the CEO of Audience Audit and has been a marketing strategist and researcher for more than 30 years. She crafts custom attitudinal segmentation research for agencies and marketers for B2C, B2B, and higher-ed organizations including Gap, AT&T, Jayco, Tufts University, and more.Drew McLellan is the CEO of Agency Management Institute and has been in the advertising industry for more than 30 years. He advises hundreds of small- to mid-sized agencies on how to grow and become more profitable.Five things you’ll learn from this episode:The three segments of agency clients: the committed (25%), the concerned (42%), and the close (33%)How to determine which segment a client falls in to best serve them as an agencyThe challenges and opportunities created by clients with a strong preference for in-person agency relationshipsWhy brands are choosing to work with more than one agencyHow the Great Resignation affected agencies and brandsQuotables“We've seen a consistent trend where folks are working with more than one agency. Drew talks about this a lot where it's really not sort of a one-agency world anymore, and agencies need to work with each other on behalf of a client that they're collaborating with.” — @SusanBaier“When an agency says, "We're a full-service integrated agency," clients scratch their heads and say, "How could you possibly be good at everything?" And so, I think the agencies that have specialized, like you have, Jason, give themselves and their clients both an advantage and a relief that you're not trying to be everything to everybody.” — @DrewMcLellan“It's very difficult to see clearly the label on the outside of a bottle when you're inside the bottle. And so, part of what an agency always brings to their clients is an informed outside perspective.” — @DrewMcLellanGuests’ contact info and resources:Susan's Twitter Susan's LinkedInDrew's TwitterDrew's LinkedInAudience AuditAgency Management InstituteAdditional Resources: Agency Edge Research Series Episode recorded: Dec. 1, 2021Sponsored by:On Top of PR is produced by Axia Public Relations, named by Forbes as one of America’s Best PR Agencies. Axia is an expert PR firm for national brands.On Top of PR is sponsored by ReviewMaxer, the platform for monitoring, improving, and promoting online customer reviews.About Your Host:Jason Mudd is a trusted adviser and dynamic strategist for some of America’s most admired brands and fastest-growing companies.  He founded Axia Public Relations in July 2002. Forbes named Axia as one of America’s Best PR Agencies.Support the show

Drew McLellan is the owner of McLellan Marketing Group and the owner and leader of the Agency Management Institute. In his fourth appearance on the Progressive Agency podcast, Drew discusses agency owners’ succession and shares tips and strategies to begin business exit planning. Hear insights about: What hot topics for agency owners does Drew expect to see throughout 2022 How do agency owners find a balance between tax planning and building value and equity in the business Why business owners should wait until January to empty their bank accounts at the end of the year if they are planning to sell What should business owners do if they think they may want to sell eventually Why owner financing is often a good option if you are selling your business to an internal employee How long does it typically take to close a deal beginning from the initial conversation to consummation Business Exit Strategies for Agency Owners My encore guest for this week’s episode of the Progressive Agency podcast is Drew McLellan from the Agency Management Institute. Drew is an expert at helping agencies plan their succession, and in this episode, he shares tips and strategies to begin business exit planning if you plan to sell within the next five to ten years. Business Exit Planning During our conversation, Drew explained that he and the Agency Management Institute team help agency owners with their succession. This includes actually helping an agency owner identify internal buyers, and then facilitating the entire process of mediating the deal and financing it. One of the problems Drew continuously sees during the succession process is that agency owners are often very good at tax planning – too good in fact. They focus on getting their bottom line and their profitability number down to as small as possible by the end of the year so that they don’t pay tax on those dollars. The problem is, if they’ve been successful at that for many years, once they do the valuation, the agency looks far less valuable than it really is. Drew and I discuss the importance of finding a balance between reducing your taxable revenue while still building an equitable and valuable business, if you are planning to exit. The key to business exit planning is preparing well in advance for a potential sale. It is crucial to talk to your CPA early and keep them in the loop. You will also want to be sure that you are taking proper compensation as an owner. Drew and I discuss what income range is typically good for most owners planning to sell their company. Preparing for Valuation When looking at your profit and loss statement at the end of the year, you want to show that your business has the potential to make a lot of money. To achieve that you want to have items that you can easily move “below the line.” Adding items to the other income and expenses line on your profit and loss sheet can help you demonstrate that you could add those expenses back into the profit of your business. This will help buyers understand the business’s true value during valuation. To learn more about Drew McLellan and the Agency Management Institute, please visit their website at https://agencymanagementinstitute.com/. And of course, please visit https://craigcodyandcompany.com/agency-podcast/ for more informative, money-saving podcast episodes like this one. Additional Resources Website: www.craigcodyandcompany.com Twitter: @CraigC2742 LinkedIn: https://www.linkedin.com/in/craigcodycpa How to Connect with Drew McLellan Email: drew@agencymanagementinstitute.com LinkedIn: www.linkedin.com/in/drewmclellan Website: https://agencymanagementinstitute.com/ About Drew McLellan For 30+ years, Drew McLellan has been in the advertising industry. He started his career at Y&R, worked in boutique-sized agencies, and then started his own (which he still owns and runs) agency in 1995. Additionally, Drew owns and leads the Agency Management Institute, which advises hundreds of small to mid-sized agencies on how to grow their agency and its profitability through agency owner peer groups, consulting, coaching, workshops, and more.

This part two of a two-part discussion on employer branding with special guest host, Drew McLellan, owner of the Agency Management Institute (AMI). Listen in as Drew and team STM discuss a wide range of topics including: Employer Branding - It’s just as important to market to prospective employees as it is to market to prospective customers. Hiring Process - You need to accelerate your selection process–good people go fast! Company Culture - It’s a new landscape out there! Be prepared to deal with social/political issues.

This part one of a two-part discussion on employer branding with special guest host, Drew McLellan, owner of the Agency Management Institute (AMI). Listen in as Drew and team STM discuss a wide range of topics including: Employer Branding - It’s just as important to market to prospective employees as it is to market to prospective customers. Hiring Process - You need to accelerate your selection process–good people go fast! Company Culture - It’s a new landscape out there! Be prepared to deal with social/political issues.