A Coronavirus Ad Agency Business, Marketing, and Personal Plan
You know who I am, right? Regardless, here is my Advertising Agency Survival Guide. Please read and make adjustments to how you run your agency. I want you to view the video below so my guide will open up in a new window.
Next, I am going to continue to write about what I think you should be doing. Yes, I admit it, I know what I am talking about. Plus, maybe, more importantly, I know WHO knows what THEY are talking about. Like the video below from Noah Kagan – AppSumo guy.
Do you know Noah Kagan? He is the Chief Sumo at Sumo Group — where he helps entrepreneurs kick more ass. Before that, he was employee #30 at Facebook, #4 at Mint, and worked at Intel.
Key Noah Kagan Coronavirus Ad Agency Business Plan Advice – Important Stuff
This one from me… I think that anyone over 55 should go mostly cash. I mean, what part of this economy is going to spring back in the next 12 to 24 months? OK, maybe DTC, oil, three retailers, three airlines, Uber, online learning… + Companies with mucho cash.
Watch your costs. This is the only thing that you can control. Make the necessary cuts early.
Market your ad agency. More blog posts, more insight-oriented content, PPC ads. How about some research in your expert categories?
Partner. Maybe even buy a cheap but smart small agency that adds to your overall offer. Are you “full service”? if so, get really full service and buy a PPC agency.
Help your clients with their payments before they cut you off.
Now, The Video, Recession Proof Business Strategies
Noah’s Main Points. My Interpretation.
Pay very close attention to your revenues and adjust your net income. Every 7 days.
Look at your agency website traffic and conversion rates, email signups (you have an email program (right?) and whatever you track. Pay attention to your brand.
Market your agency. Keep at it. But, be cool about it. No sales pressure. Insights, show empathy, please.
Have 20 months of capital for business. 12 months personal (at least). Look, I know that having cash is hard for some people. Like, you need to live. But, I am putting my pessimistic hat on. If we are about to go into a depression rather than a recession… be ready. I do not want to be a downer. But, this is the advice I give to my kids too.
And, Please Talk To Me
Remember the.. Advertising Agency Survival Guide.