Positioning & Pricing for Profits

If you're looking to generate more profits from your agency in 2024 -- either because 2023 was an off year or because you simply want to grow to new heights -- the P3 Workshop that I'm hosting in March should be able to help.

Positioning & Pricing for Profits?will show you how to refine your focus, set the right prices, and manage profitability so that you are able to put more money in your pocket and better position your business for future growth. I will include a mix of training and Q&A to keep it lively and ensure that you get the information you need.

The event will take place on Thursday, March 14 from 11 AM to 4 PM ET (with an optional networking session?for attendees to follow).

Register here.

Now let's take a look at what else we have been up to and some resources we found this week.

— Chip Griffin, SAGA Founder

Upcoming Events

• Open Office Hours for Agency Owners (January 30)
• Webinar: Is it time to sell your agency? (February 6)

Latest from SAGA

What to do when you feel burned out as an agency owner

In this webinar replay, Chip Griffin offers some practical tips on how to chart a new course that addresses the real problems. Seeing light at the end of the tunnel won’t just improve how you feel, it will improve the results that your agency produces.

(more)

Weekly Roundup

Below are some articles, blog posts, podcasts, and videos that we came across during the past week or so that provide useful perspective and information for PR and marketing agency owners. While we don’t necessarily endorse all of the views expressed in these links, we think they are worth your time.

— Jen Griffin, SAGA Community Manager

Articles & Blog Posts

• Take Retirement in Little Batches?(Punctuation)
• Overcoming 2023’s challenges, part 2?(Bureau of Digital)
• Perfect Pitch Presentation Tips for Marketing Agency Leaders?(AgencyAnalytics)
• The PR Surrounding Britney Spears’ “Tell-All” Memoir?(Spin Sucks)
• Leaning Into Change Instead of Waiting for “Normal”?(Anchor Advisors)

Podcast Episodes

• Navigating the Communications Shift from Services to Solutions (Spin Sucks)
• The Power of Surrounding Yourself with the Right People with Ian Garlic (Smart Agency Master Class)
• Top communication trends for 2024 (For Immediate Release)
• The Time Value of Knowledge (2Bobs)
• The evolution from freelancer to a major success story (The Digital Agency Show)
• Let the Good Times Roll…And Roll (That Solo Life)
• Bootstrapping, Cyber Security & Finding Creator Confidence, with Jai Aenugu (The Personal Brand Business Show)

Videos

• Is The Client Playing Games If They Won’t Share Their Budget??(Win Without Pitching)
• Mark Riggs on Just Ask Jody Live: How agencies can liberate themselves from the RFP?(The Sutter Company)

AI in Focus

• AI for communicators: What’s new and notable?(PR Daily)
• Agency Management Institute’s Webinar AI For Agencies (January 2024)?(Agency Management Institute)

Positioning & Pricing for Profits

The ability to deliver excellent results for the right clients at the right price lies at the heart of any successful agency. That’s how you simplify business development, produce great results for clients, and ensure that the business works for you.

It's important to remember that not all revenue is created equal and your real focus as a small agency owner should be on generating profitable business.?

That starts with attracting your ideal clients by creating a clear identity that specifically resonates with them. That means you need to break down a detailed definition of the characteristics of a prospect that would likely be a great fit.

Then you need to price your work so that you generate?at least?a comfortable amount of profits (and hopefully more). It all starts with having a solid understanding of your actual cost of delivering the services that produce results.

Finally, you need to take steps to ensure project management that provides the results that clients expect while also sticking to the budgets you used to build your price.

If you want to take a deeper dive into this process, I would encourage you to check out the?P3 Workshop?I mentioned at the start of this week's newsletter.