How Much Do Internal Errors Really Cost Your Agency?
Is your agency wasting time and money on making mistakes? Are you trying to make sense of why your profit margins are so low? If so, it’s time to take a hard look at how much money actually goes to covering the cost of internal errors. Because for many agencies, this number is just too high.
In today’s episode, we’ll cover:
- Is your agency losing money on these common errors?
- What are tiny mistakes actually costing your agency?
- 3 reasons why it might be time to embrace an AI solution.
Today, I sat down with Eric Vardon, CEO of Morphio. This is Eric’s second time on the podcast, and this time he’s talking about how artificial intelligence (AI) can reduce the number of costly mistakes your agency makes. Recently, Eric’s agency conducted a survey to find out just how much agencies are, quite frankly, throwing away. Eric is here to discuss the results and talk about how Morphio can help.
Is Your Agency Losing Money on These Common Errors?
We’ve all been there — that bulk email with a glaring typo we notice moments after we hit send. Or, maybe you completely forgot to shut off a campaign and let it run for days (or weeks) longer than it should have. Mistakes happen. Unfortunately, as an agency, these mistakes can be costly.
Eric and his team recently conducted a survey of a variety of agencies. The premise was simple — what type of mistakes has your agency made and how much have these mistakes cost you? Do any of these sound familiar?
- 60% of agencies said they make at least six digital marketing mistakes per week;
- One-third of these agencies say just one mistake can cost them between $1,000 and $5,000;
- 31% of agencies have inadvertently offended a client; and
- 30% of agencies have published a dead, broken, or incorrect link.
What Are Tiny Mistakes Actually Costing Your Agency?
Ask any agency owner, and they’re sure to tell you, “these mistakes don’t happen at our agency.” But if they were to take a closer look, they’d probably be shocked to see just how much profit is lost on revising and fixing mistakes. These same agency owners are also likely trying to figure out why their margins are so low.
As Eric points out, these mistakes don’t just cost you money upfront. They can cost your reputation, major accounts, and even your business. As humans, we make mistakes. So the more you can automate and have an AI take care of certain issues, the less you have to worry about mistakes like these happening.
3 Reasons Why it Might Be Time to Embrace an AI Solution
If you’re still hesitant to use AI, it’s time to be okay with being uncomfortable. AI is here, and it likely won’t be going anywhere for a very long time. Machine learning has the capability to take data, crunch it, and make decisions faster. So what does this mean for your agency?
- Better client relationships. Typos, broken links, these mistakes can be costly. Instead, you can use AI to run a quality check for you.
- Increased employee morale. Why do mistakes happen at such a high frequency? Often, employees are juggling too many things or moving too swiftly to catch errors. If you can get a machine to ease your team’s load a little bit, they’ll likely be thankful for the breathing room.
- It can save your business. You can only make so many mistakes before they completely destroy your agency. Do a careful audit of your expenses and analyze just how much you are spending in this area.
Occasional mistakes are bound to happen. Humans are not infallible. But when these mistakes happen on a regular basis, your clients will lose faith in your capabilities. When you take the time to identify mistakes and implement tools to streamline your processes, you’re more likely to find success.
For a limited time, Morphio is offering Smart Agency podcast listeners a special deal to get you started. Sign up at Morphio.ai/Swenk and get 50 accounts for only $39 per month. That’s a savings of over $500/month.