People Don't Buy Widgets—So What are you Marketing?

Frank Cowell is CEO of Elevator Agency, a full-funnel digital agency providing a fully-integrated, synergistic marketing "ecosystem," differentiates his agency by a number of things. The first one is that accounts are managed by strategists instead of by account managers. Why strategists? Frank has found that strategy development, system testing and optimizing, and working with the client is a big, full time job, and should be a billable function, not something to be covered through the less transparent means of skimming off other line items.

In this interview, Frank explains why he believes that most agencies (and many other companies) fail to sell the "right thing" . . . they more often talk about the "line item" services or skills their companies offer instead of selling outcomes. His company's "elevator formula" involves understanding "what you want a business to ultimately be," the "outcome of what you are selling," and "the methodology for achieving those outcomes on a consistent, predictable basis." Everything must be crafted with that end in mind, including the client selection process and team-building. He feels that companies start out as "consultancies," and only become "businesses" when the principals can walk away for a month and the company continues to operate.

To achieve this level of organizational maturity, Frank notes that a company has to have a completely clear vision on its branding: Who is it going after as clients? What is its value proposition? and What brand promises does it need to make to win this business? It also needs to implement some variety of an Entrepreneurial Operating System whereby the organization focuses on a limited number of issues over 90-day cycles so that problems are truly solved and the company can move forward. In marketing itself, the company has to sell outcomes . . . and to differentiate itself from the competition.

Frank outlines his Elevator Formula, which provides a both repeatable methodology and service differentiation. The Elevator Formula is a defined process the agency uses for selecting clients, developing a winning proposal, and delivering a strategic plan that produces the outcome a client wants.

1. Assume the majority of contacts don't have a problem you can solve, or, for some other reason, are not a fit for your agency. Only consider taking on a client when you are certain they are a right fit . . . and that you will be able to help them accomplish the desired outcome. Is the outcome what this prospect wants and/or needs?
2. The next part of the process is discovery. What are the prospect's target markets? What is their business model? What outcomes are they targeting? The purpose of discovery is to identify the "opportunity," but also to qualify the contact at a high level. Does the contact have the budget and the authority to act?
3. In the collaborative planning stage, the prospect and agency work together to fill in the blanks on the Elevator Formula blueprint, building a high level strategy. When the client helps build the plan, they are more likely to accept the presented solution/proposal . . . because they already have vested interest in it.

Frank's emphasizes the importance of an agency fully understanding itself, what is it really selling, who is it selling to, and what is its desired outcome . . . and mirrors that model when describing what an agency needs to do to effectively serve a client: to understand the client, what is the client selling, who is it selling to, and what is its desired outcome . . . These critical questions that can redefine marketing strategies for both the agency and the client.

Frank can be reached on his company's website at: elevatoragency.com, on Instagram and Twitter as @FrankCowell or by email at: frank@elevatoragency.com.