Let’s Make Money: 4 Tactics for Agencies Looking to Succeed – Whiteboard Friday

Let’s Make Money: 4 Tactics for Agencies Looking to Succeed – Whiteboard Friday

So I have a strong passion for agencies and consultants who are on the ground doing the work, helping websites rank better and helping build businesses. But what I really want to get into is that we spend a lot of time talking about SEO tactics, but not really about how to succeed in an industry that changes rapidly, in which there's almost no certification, and where it can be difficult to explain to customers exactly how they're going to be successful with what you offer. If we have a graph of quality of services that you offer and the price that you sell at, most agencies think that they're offering great quality at a little price, but the reality is you're probably down here. Moz will do that every week for you, but you should give your customers an idea, over the course of a month, what's changed. But of course, if one of these comes back and nothing changed, you don't need to do the phone call, but each one of these represents additional money in your pocket and importantly better service for your customers. So number three, you're going to see this a lot in my videos because I just love SEO tools, but you've got to tool up. Tools allow you to do things that humans just can't do. For example, they can give you... You can use tools to find opportunities.Take for example the tools within Moz and you want to find other car dealerships in the area that are really good and have an opportunity to rank, but aren't doing as well as they should be in SERPs. It's really important to learn to fire clients who are bad for your business, where you're losing money on them or they're just impolite, but that doesn't mean you have to turn them away. I didn't turn away the customer.

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We spend a lot of time discussing SEO tactics, but in a constantly changing industry, one thing that deserves more attention are the tactics agencies should employ in order to see success. From confidently raising your prices to knowing when to say no, Moz’s own Russ Jones covers four essential success tactics that’ll ultimately increase your bottom line in today’s edition of Whiteboard Friday.

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Agency tactics

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Video Transcription

Howdy, Moz fans. I am Russ Jones, and I can’t tell you how excited I am for my first Whiteboard Friday. I am Principal Search Scientist here at Moz. But before coming to Moz, for the 10 years prior to that, I was the Chief Technology Officer of a small SEO agency back in North Carolina. So I have a strong passion for agencies and consultants who are on the ground doing the work, helping websites rank better and helping build businesses.

So what I wanted to do today was spend a little bit of time talking about the lessons that I learned at an agency that admittedly I only learned through trial and error. But before we even go further, I just wanted to thank the folks at Hive Digital who I learned so much from, Jeff and Jake and Malcolm and Ryan, because the team effort over time is what ended up building an agency. Any agency that succeeds knows that that’s part of it. So we’ll start with that thank-you.

But what I really want to get into is that we spend a lot of time talking about SEO tactics, but not really about how to succeed in an industry that changes rapidly, in which there’s almost no certification, and where it can be difficult to explain to customers exactly how they’re going to be successful with what you offer. So what I’m going to do is break down four really important rules that I learned over the course of that 10 years. We’re going to go through each one of them as quickly as possible, but at the same time, hopefully you’ll walk away with some good ideas. Some of these are ones that it might at first feel a little bit awkward, but just follow me.

1. Raise prices

The first rule, number one in Let’s Make Money is raise your prices. Now, I remember quite clearly two years in to my job at Hive Digital — it was called Virante then — and we were talking about raising prices. We were just looking at our customers, saying to ourselves, “There’s no way they can afford it.” But then luckily we had the foresight that there was more to raising prices than just charging your customers more.

How it benefits old customers

The first thing that just hit us automatically was… “Well, with our old customers, we can just discount them. It’s not that bad. We’re in the same place as we always were.” But then it occurred to us, “Wait, wait, wait. If we discount our customers, then we’re actually increasing our perceived value.” Our existing customers now think, “Hey, they’re actually selling something better that’s more expensive, but I’m getting a deal,” and by offering them that deal because of their loyalty, you engender more loyalty. So it can actually be good for old customers.

How it benefits new customers

Now, for new customers, once again, same sort of situation. You’ve increased the perceived value. So your customers who come to you think, “Oh, this company is professional. This company is willing to invest. This company is interested in providing the highest quality of services.” In reality, because you’ve raised prices, you can. You can spend more time and money on each customer and actually do a better job. The third part is, “What’s the worst that could happen?” If they say no, you offer them the discount. You’re back where you started. You’re in the same position that you were before.

How it benefits your workers

Now, here’s where it really matters — your employees, your workers. If you are offering bottom line prices, you can’t offer them raises, you can’t offer them training, you can’t hire them help, or you can’t get better workers. But if you do, if you raise prices, the whole ecosystem that is your agency will do better.

How it improves your resources

Finally, and most importantly, which we’ll talk a little bit more later, is that you can finally tool up. You can get the resources and capital that you need to actually succeed. I drew this kind of out.

If we have a graph of quality of services that you offer and the price that you sell at, most agencies think that they’re offering great quality at a little price, but the reality is you’re probably down here. You’re probably under-selling your services and, because of that, you can’t offer the best that you can.

You should be up here. You should be offering higher quality, your experts who spend time all day studying this, and raising prices allows you to do that.

2. Schedule

Now, raising prices is only part one. The second thing is discipline, and I am really horrible about this. The reality is that I’m the kind of guy who looks for the latest and greatest and just jumps into it, but schedule matters. As hard as it is to admit it, I learned this from the CPC folks because they know that they have to stay on top of it every day of the week.

Well, here’s something that we kind of came up with as I was leaving the company, and that was to set all of our customers as much as possible into a schedule.

  • Annually: we would handle keywords and competitors…

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