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Toggl Academy e03: Increase your profits from existing clients with Rory Spence (preview)
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Toggl Academy e03: Increase your profits from existing clients with Rory Spence (preview)

Introduction to the Webinar

Welcome and Introduction

  • Emilia introduces herself as the community manager at Toggle Academy, stepping in for Ilya.
  • She highlights the economic instability of 2023 and its impact on businesses, particularly agencies.
  • Emilia announces Rory Spence from The Wow Company as a guest expert to discuss challenges faced by agencies.

Understanding Agency Challenges

Overview of The Wow Company

  • Rory Spence introduces himself and explains that The Wow Company is an accountancy firm specializing in marketing agencies.
  • They work with agencies typically having between eight to eighty staff members and a turnover of around one million pounds or more.
  • Besides compliance services, they provide strategic advice tailored specifically for agencies.

Webinar Structure and Goals

Session Format

  • Emilia outlines the structure: Rory will present for about 30 minutes followed by a Q&A session.
  • Attendees will receive a recording of the session, which will also be available on the Toggle blog.

Increasing Profits from Existing Clients

Key Focus Areas

  • Rory emphasizes that while acquiring new business is challenging, there are alternative methods to increase revenue through existing clients.
  • He notes that much of what will be discussed may not be new but aims to motivate attendees to implement these strategies effectively.

Strategies for Upselling

Establishing Responsibility

  • Rory stresses the importance of having someone within the agency responsible for upselling efforts similar to how new business is managed.

Clear Planning

Pitching to Existing Clients: Strategies for Success

Importance of Clear Planning and Targets

  • Emphasizes the need for a structured approach when pitching to existing clients, including defining touchpoints and identifying key clients to engage with.
  • Highlights that simply stating an intention to upsell is insufficient; a detailed strategy must be developed for effective execution.
  • Stresses the importance of setting clear revenue targets from both new business and existing client upselling opportunities to measure success.

Team Engagement in Upselling Process

  • Discusses the necessity of involving the entire team in the upselling process, not just assigning responsibility to one person.
  • Notes that team members should build strong relationships with clients, ensuring excellent service as a foundation for successful upselling.
  • Encourages proactive communication among team members about client challenges, fostering an environment where potential upsell opportunities can be identified.

Case Study: Innovation Hub Concept

  • Introduces a case study illustrating how agencies can redirect their efforts from new business pitches towards nurturing existing client relationships.
  • Suggests that many agencies overlook their loyal clients who already appreciate their services, presenting an opportunity for further collaboration on new projects.

Implementation of New Ideas During Challenges

  • Describes how one agency created an "Innovation Hub" during COVID, allowing them to brainstorm ideas tailored for existing clients amidst challenging circumstances.
  • Explains that this initiative was born out of necessity when regular work was paused, leading to creative solutions being proposed proactively by a small dedicated team.

Navigating Client Relationships During COVID-19

Initial Challenges in Client Engagement

  • The agency sought to engage clients through lunch meetings to discuss innovative ideas, but initial responses were lukewarm.
  • Clients expressed appreciation for the ideas but cited budget constraints due to the pandemic, leading them to pause marketing efforts.

Positive Outcomes Post-COVID

  • As the situation improved and marketing budgets were reinstated, clients returned to revisit previously discussed ideas.
  • The agency successfully secured new projects based on pitches made months or even a year prior, demonstrating resilience and foresight.

Ongoing Innovation and Relationship Building

  • The agency maintains an "Innovation Hub" that continuously generates proactive ideas for existing clients, enhancing client relationships.
Playlists: Toggl Academy
Video description

WATCH THE FULL WEBINAR 👉🏼 https://toggl.ink/full-e03 Join Rory Spence and Emilija Antanaviciute as they discuss how there is another way to strengthen that revenue stream when landing new business gets tricky. This actionable tips-packed hour focuses on all increasing your profits from existing clients. 📩 Never miss an upcoming webinar by signing up here 👉🏼 https://toggl.ink/BetterWorkWednesdayTA2 ____________________________ Stay connected with Rory: 👉🏼 LinkedIn: https://www.linkedin.com/in/rory-spence-63023884 👉🏼 The Wow Company: https://www.thewowcompany.com Stay connected with Emilija: 👉🏼 LinkedIn: https://www.linkedin.com/in/emilijaantanaviciute 👉🏼 Toggl: https://toggl.com/ ____________________________ Scale your service business, crush profitability goals, and craft impeccable operations frameworks with Toggl Academy. Monthly webinars featuring the industry’s leading voices. No fluff, pure knowledge. Brought by Toggl Track, your favorite powerful yet frictionless time tracker.