Digital Agency Model: What does it take to be successful? November 2013, Chicago Shannon Kinney Founder, Client Success Officer shannon@dreamlocal.com @shannonkin, @dreamlocal
About me: Head #honeybadger
The Internet, and social media in particular, have RADICALLY CHANGED the way people consume information and the way businesses PROMOTE THEMSELVES.
The rules of marketing HAVE CHANGED.
How BRANDS are built today AND WHY THEY MATTER
It s not just about Social Media Marketing
How buying decisions are made
The importance of CONTENT and STORYTELLING
The Key is to build ENGAGEMENT #notaonewaystreet
Facebook What does it take? Has to SPEAK to your audience
What does it take? A different point of view
What does it take? Listening
Listening IS CONTENT
Good customer service IS CONTENT
Your Story IS CONTENT
Your Customer s Story IS CONTENT
What does it take? CONNECTING #hashtags, RT, Like, Favorite, Reply
What does it mean? An entirely different level of service Non-product or platform specific Client-focused vs. product-focused Non-biased Solution-oriented
Most Common Services Reputation Monitoring or Management tools Social media services: strategy, design and set up, management services Search engine registration and basic SEO PPC ad buys and SEM services Video or photo slideshow development, distribution Content creation (blogs, posts), and PR services E-mail marketing Web site development, blog development Mobile marketing solutions
You may also end up selling Classified Upsells Recruitment services via LinkedIn Direct Mail Event planning, strategy or support services Design services Banner ad inventory on other sites as well as your own / retargeting PR distribution and follow up Other media outlets
Why Agency? Serving local businesses is core to your mission and role in your community Maintaining the relationship as the trusted advisor and partner is critical to your long term success Filling the advertiser need and guiding them through the process will solidify your position Solution-based selling builds trust Can ultimately sell more print
Revenue and Business Models For many services, it is a higher volume lower margin game Makes operational efficiency critical When done well, develops long recurring monthly revenue streams Fees are either service-based (with markups on outsourced wholesale fees), flat fees or hourly What to watch out for: need to manage client expectations, don t recommend what won t work
What does it take to be successful?
Understanding Marketing vs. Advertising
Needs-based selling for REAL
An eagle-eye on operational efficiency
Ability and commitment to being nimble
Decision: To package or not to package?
Finding Sales Success Importance of needs-based selling Remember many of these prospects are new customers, be prepared to build lasting relationships Seminar strategy is key to success Training of sales team is important, having product advocates on the team is immensely helpful
The decision:
In-house Need dedicated resources with experience in digital, video, mobile, and social media Tight operational efficiencies need to be developed to protect margins Average investment of companies we surveyed $200,000 many newspaper companies have invested several times more than that Need to stay on top of rapidly-changing trends Ability to quickly and nimbly scale
Publishers.dreamlocal.com
Solution Components Core Offering Online marketing strategy development Social Media channel design and ongoing management Reputation Management and SEO Email marketing Web site development Blog posting management Optional Video editing, optimization, distribution, marketing Mobile marketing solutions (sites, promotions) PR SEO / SEM Agency level service (media planning, etc) Event promotion (flyers, etc)
Getting Started Separate staff or branding? Starting out: full product line or smaller? Determine how you will fulfill, conduct research on options Develop seminar strategy to reach small businesses in your market Train sales teams, operations and finance teams Get out there and sell!
#THANKYOU! For LMA attendees: A free evaluation of your options: http://publishers.dreamlocal.com shannon@dreamlocal.com www.dreamlocal.com www.facebook.com/dreamlocal @dreamlocal, @shannonkin 207-593-7665