How to Make More Money by Leveraging Agency Partnerships
Bad leads waste our time as agency owners and sales people.
But just because a lead isn't the right fit for your agency doesn't mean they aren't a good fit for all agencies. There can be a variety of reasons that a lead isn't the right fit. They want a service you don't offer, their budget is too small, the project is too big etc...
There were a few questions we constantly were asking ourselves, maybe some of these are familiar to you as well?
What do we do with the bad leads to still make them worth our time and profitable for our agency?
Why do agencies spend so much time working leads that aren't a great fit for their business?
Why do bad leads get treated poorly by agencies?
Who do we waste time and add stress by scrambling to try to find another agency or freelancer to help with a portion of a project or entire project at the last minute?
The Solution of Agency Partnerships
During this episode of Inbound Sales
The answer to all of those questions is the same. It is because we, as agencies, don't have the right relationships and frameworks in place to truly help customers who aren't the right fit for us.
So how do you put the right relationships and frameworks into place? It all comes down to creating a process. Start here by following these 4 steps below.
5. Make sure your
To help you out with #4, here is a quick email template you are welcome to use as a guide of what to send to prospects.
Dear Ms. Prospect,
Based on your needs we discussed briefly this morning, I think that [other agency] would be the best partner I can recommend for your project.
As I mentioned, I'd be happy to connect you directly with [
What's an Appropriate Referral Commission?
If you are referring work to other agencies you have two options. Ask for a commission, or don't ask for a commission. That depends on a million things.
There are pros and cons to both. At our
But that doesn't mean that it is bad to have a referral commission set up.
From what we have seen in the past an appropriate commission range will change depending on the type of project or retainer the prospect agrees to with the agency you have recommended. If it's an upfront, one-time project 5-10% is a reasonable commission.
If it's a long-term retainer, either a smaller continual commission or a larger up-front commission might make sense. If you refer a 12-month retainer, a 2-5% kickback monthly commission makes sense. The other option could also be a 10-20% commission on the first month or first payment.
It is important to try and establish what the percentage is before you are actually presenting them with a prospect. This will take some of the awkwardness out of discussing terms. That way when a referral opportunity presents itself it is much easier to pass them along and
If you have any additional insights or questions feel free to share them in the comments below!
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