3 Tactics That Will Get Your Agency to the Point of Turning Down Work
How to Be So Successful You Can Afford to Turn Clients Away
Ever wonder what it would feel like to turn down work? That’s exactly what my client, Matthew Arndt, CEO of Turbo Medical Marketing is able to do with his business. In this episode of The Smart Agency Master Class, Matt shares exactly what he has done to get to his agency to that point.
3 Ways to Accelerate Your Business Right Now…
1. Be Super Specific: It Will Draw In the Right Clients
Turbo Medical Marketing is a digital agency specializing in medical aesthetics (ie. cash pay medicine such a: plastic surgery, dermatology, ophthalmology, medical spas and their related industry partners who work with the same practitioners). Wow. Super specific, right?
Matt says he’s seen huge benefit from really laser focusing on a very specific market. Because the medical field is so huge, he had to pinpoint a particular audience to gear all his marketing efforts. He understands the challenges and issues they face and knows exactly who/how he can help. Also, since business today is about belonging, he has become a servant to the medical aesthetics community. Turbo has built a reputation of being the go-to agency with proven results.
2. Be Patient: Nurturing Your Leads is Key for Growth
A key turning point in Turbo Medical Marketing’s business was the development of an automated email campaign used to warm up leads. They already had a ton of content but getting into the right hands at the right time has made a huge impact on their business.
Don’t be tempted to go in for the kill right away. Nurturing leads is so key to long term relationships and agency growth. It starts conversations and provides the opportunity to understand which of your core offerings are the right fit for a particular client.
3. Be a Partner: It Triangulates a Win
Partnering with a third-party who has mutual interest can reap huge rewards and score a win for everyone involved. Matt was able to cultivate relationships with medical equipment and non-prescription drug reps who sell high ticket products to his clients in the medical aesthetics field. These reps also have marketing budgets allocated to value added campaigns. That means these reps actually give doctors marketing dollars to spend on promoting the equipment or drug they just purchased. Triple win…. The rep scores a win by giving something back to their customer. It sets up the doctors for a win by bringing in new patients to offset the cost of their investment. And, of course Matt wins by bringing in new agency business… Win – Win – Win.
Ask yourself what kind of partners can help propel your business? What can you do for them? Find mutual benefit and go after it.
Why Even Consider Turning Down Business?
It’s counterintuitive to turn down work, isn’t it? Matt struggled with it for awhile too, but when he took the time to identify what his ideal clients looked like he realized the opportunity cost of taking on the wrong ones was too big to ignore. Sure, the wrong clients will bring in a small amount of revenue and but they’ll also bring a huge amount of headaches. The tradeoff is just not worth it.
As a business owner you’re watching the bills roll in and may even be worried about payroll. It’s tempting to take on a project that isn’t quite the right fit or to work with a borderline bad client just to pay the bills. Before you do it, weigh the costs and long term effects on your business. If a client or project isn’t going to get you where you want to go – just don’t.
Stop ‘Getting Ready to Get Ready’ and Take Action!
Matt credits podcasts as his main source of inspiration for accelerating his agency and clients’ business. He has incorporated podcast listening into his daily routine as a way to learn passively and find new ways to accelerate his agency and/or his clients’ business. But it’s not just the listening that important — its the implementation. As business owners we have a million little reasons not to take action, but one really BIG reason why we should. Actions lead to transactions.
Check out this approach…. I’ve created a FREE video on Generating More Leads. It talks about the 5 Systems my clients and I use to generate 25 or more leads every day. I use this strategy as a goodwill offering and as a way to get new conversations started. Check it out here.