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Why Raising Prices is the Real Game Changer to Increasing Profitability

Why Raising Prices is the Real Game Changer to Increasing Profitability

FromSmart Agency Masterclass with Jason Swenk: Podcast for Digital Marketing Agencies


Why Raising Prices is the Real Game Changer to Increasing Profitability

FromSmart Agency Masterclass with Jason Swenk: Podcast for Digital Marketing Agencies

ratings:
Length:
21 minutes
Released:
Sep 14, 2022
Format:
Podcast episode

Description

How can you boost agency profitability? Do you have a clear plan for being profitable? Some agency owners start out thinking they want to get to $100 million. But, whatever you expect to get at $100M, could you get it at $10M? How about right now? Most likely, what you really want is freedom. Today’s guest found out getting there is just a matter of setting up the right processes and having the right team. In tandem, these two elements remove the owner from daily operations and eliminate the need for your input at every step. Chris Rodgers is the founder and CEO of Colorado SEO Pros, a boutique SEO agency that helps market leaders solve complex SEO challenges. His team achieves big results with an exceptional SEO strategy, AI technology, and top talent. He shares his experience in his first few years with his agency, and how he learned the importance of knowing the agency’s value and having the right people in the right seats on the bus. In this interview, we’ll discuss: Early mistakes when you’re building your agency. Why raising prices is a real game changer to increase profitability. Changing your hiring strategy to get the right people on the bus. Sponsors and Resources E2M Solutions: Today's episode of the Smart Agency Masterclass is sponsored by E2M Solutions, a web design and development agency that has provided white label services for the past 10 years to agencies all over the world. Check out e2msolutions.com/smartagency and get 10% off for the first three months of service.   Subscribe Apple | Spotify | iHeart Radio | Stitcher | Radio FM Treat Your Agency SEO As Important As Your Clients' SEO Chris started his career working in corporate marketing. He was first attracted to the digital marketing side because of all the data and tracking and the transparency it provided. When he moved to Colorado, he worked as a senior analyst for an agency and, after a failed venture, eventually decided to create his own agency. His agency started in his home office with an intern that showed up to work in his pajamas. (#Agencylife, right? :) He first started contacting businesses ranking on the second page of Google results to tell them why they needed SEO. Their answer: What is SEO? Chris knew he needed to change his approach and went back to work on his own website’s SEO. Eventually, his website knocked down the biggest company in Colorado for the #1 spot in Google results and they started getting leads from all over the country. This was a huge step for his agency and got them to a new level where they were actually struggling to keep up with demand. At this point, it was still a two-person operation and both he and his intern were SEO specialists. He still needed to figure out how to build an agency around their SEO services. Common Struggles the Early Years of Running an Agency Lack of knowledge on building a business around his skills led to some early mistakes. Chris and his team started off offering custom solutions as a way to differentiate from their competition. However, they experienced years of setbacks by not having the correct processes in order to scale. By the second and third years, Chris had periods where he really couldn’t afford the salary for his team. The swings of the business were especially hard. If they lost a client, all of a sudden he had to skip a paycheck for himself in order to make payroll for everyone else. For a couple of years, every time he felt they were starting to grow, there was a new setback. It seemed like he was never making enough money to pay his employees what they needed to make while also growing his agency. The True Game Changer to Increase Your Agency’s Profitability Things started to change once his agency got to $1 Million revenue and beyond. There was just more room to breathe. Chris focused on determining their ideal client. In order to grow the agency’s reputation, it needed to work with higher-profile brands on large and complex projects. They searched for brands that reco
Released:
Sep 14, 2022
Format:
Podcast episode

Titles in the series (100)

Growing an agency is very difficult, and you might feel unclear what to do next in order to grow and scale your agency. The Smart Agency Masterclass is a weekly podcast for agencies that are wanting to grow faster. We interview amazing guests from all over the world that have the experience of running successful businesses, and will provide you the insights you need. Our podcast is just over 3 years old, and have reached more than a half million listeners in 42 countries.