IN THIS EPISODE…
Building and acquiring businesses and assets in the digital age often requires adaptability, innovation, and a willingness to fail fast. How can you balance risk-taking with building scalable, sustainable businesses in a competitive market?
Tune in to the latest episode of Matters of Creative as Matt Hirsch hosts Nick Eubanks, the Vice President of Owned Media at Semrush, about how he builds innovative digital assets. Nick shares how AI impacts digital acquisitions, the practical differences in building agencies and digital assets, and strategies for rapid agency growth.
Having built groundbreaking new digital platforms, Nick Eubanks believes rapid experimentation and adaptability are critical to sustaining growth. He emphasizes the importance of scaling agencies using data-driven strategies and pivoting quickly if your efforts don’t produce results within 12 months. You can also develop a portfolio of digital assets by acquiring platforms, websites, or other media to diversify your income and build recurring revenue streams. These assets can be integrated into your existing agency for further growth opportunities.
Don’t miss this episode on agency growth and digital asset management!
ABOUT OUR GUEST:
Nick Eubanks is the Vice President of Owned Media at Semrush, a SaaS platform for marketing research that acquired the SEO training community Traffic Think Tank, where he was a Co-founder. Nick also founded and exited From the Future, an agency helping companies grow online traffic and revenue, where he drove over $100 billion in revenue for clients. As an entrepreneur and product builder, he helps marketing agencies grow their revenue, profit, and teams through personalized agency coaching.
Learn more about Nick:
https://www.linkedin.com/in/nickeubanks/
HERE’S A GLIMPSE OF WHAT YOU’LL LEARN:
- [2:36] How Nick Eubanks’ early entrepreneurial background helped him build and scale companies
- [5:54] Nick’s transition into digital marketing
- [12:19] The difference between building agencies and digital assets
- [16:03] What Nick learned from selling his business to Semrush — and his evolving endeavors with the platform
- [21:17] How to acquire digital assets — and AI’s role in digital acquisitions
- [24:50] Proven systems for agency growth
- [29:48] Overcoming team growth challenges
- [32:44] Will agencies have to alter their operations in the coming years?
RESOURCES MENTIONED IN THIS EPISODE:
Quotable Moments:
- “There’s no such thing as a bad business idea; there’s only bad business models.”
- “The willingness to fail quickly and recognize when something’s not working is something that should be coached a lot more.”
- “If you can’t get a business to $1 million in revenue in 12 months, move on or shut it down.”
- “The marketer audience is the devil I know. I’ve been in the industry for 15 years.”
- “Retainers are just going away in a lot of industries.”
Action Steps:
- Embrace the willingness to fail quickly: By setting clear deadlines or financial thresholds for projects, you can identify ineffective business models swiftly and pivot to more promising ventures. This approach reduces the risk of prolonged investment in unviable ideas, allowing you to focus resources on more fruitful opportunities.
- Develop a strong sales background: Building sales skills can differentiate you in competitive markets and enhance your ability to pitch ideas and secure clients. It addresses the challenge of standing out and effectively communicating value propositions to prospective customers.
- Leverage digital asset opportunities: Exploring digital assets, such as websites and media properties, can diversify income streams and build valuable portfolios. This strategy capitalizes on the opportunity to create long-term value, especially in the evolving digital marketing landscape.
- Adopt automation and efficiency gains: By integrating AI and automation tools, you can enhance productivity and reduce costs, as evidenced by agencies achieving remarkable profitability improvements. This action addresses the challenge of scaling operations sustainably and maintaining a competitive edge.
- Productize services: Structuring services into clear, outcome-focused packages can streamline operations and improve client acquisition. This approach meets the challenge of fluctuating client demands while offering flexibility and clarity in service delivery.
SPONSOR FOR THIS EPISODE…
This episode is brought to you by M Agency, a full-service creative marketing agency in Tacoma, Washington.
We are a strategic partner for companies wanting to build memorable brands, websites, and marketing campaigns.
Our team of creative professionals leverages their unique talents and skills to provide various branding, design and development, marketing, and creative services.
If you’re ready to take action with your marketing, visit https://whatisyourm.com/.