Every brand has a story and it is often the only differentiating factor from any other similar product or service. But many companies try to be all things to all people thinking if they focus on a niche they’ll lose out on potential business. Ironically, the exact opposite is true. When you are the best at something you attract more business than you can handle. That’s why it’s critical to clarify your brand story and highlight what you do different and therefore better than your competition.
Our guest, Drew McLellan is president of the Agency Management Institute, an association serving more than 250 small to mid-sized agencies. Here he helps agency owners increase their adjusted gross income and attract better clients and employees through the brand stories they tell about themselves. Using his experience, he shares best practices for running your advertising, public relations, web, digital or design agency starting with understanding your origin story and why you do what you do.
Your brand story is your most powerful tool to attract the right clients and dictate the direction of your future. This is because it paints the picture of who you are, why you exist, and what your values are. And by utilizing that knowledge you can ensure your brand is not only successful but sustainable. Because a great brand story will attract clients that align with what you stand for and repel those that don’t.
The easiest money we can make is when the client and agency are in great alignment and how you get to great alignment is you both have shared values and you connect to one anothers’ stories. ~Drew McLellan
Now you are able to expend energy only on clients that appreciate the work you do, and often they become your greatest advocates.
Topics Discussed in this Episode
- Why turning away business is not always a bad thing but is sometimes rather essential for survival
- Why so many ad agencies taut being full-service when they should really be experts in a niche
- Why ironically many agencies are afraid to go big and bold with their own brand story, even while they are preaching the same for their customers
- Why an agency owner must evolve from being a firefighter into the fire chief for the survival of their firm
- Why rapid growth can be dangerous for an agency if you don’t truly know your brand story
- Tips to strategically and sustainably grow your organization
Resources & Links
- McLellan Marketing Group
- Agency Management Institute
- Build A Better Agency Podcast
- Agency Edge Research Series
- Drew McLellan’s Twitter
- Drew McLellan’s Instagram
- Drew McLellan’s Linkedin
- The Avocado Show
- Michael Gass’ Linkedin