8 Agency Leadership Risks That Paid Off (and 3 That Didn’t)

Taking risks is an inherent part of running a successful marketing agency, and at Advantage Marketing, we embrace this mindset wholeheartedly. 

Over the past decade, my team and I have navigated the challenges of the industry with careful planning and inclusive decision-making. This has allowed us to pursue bold moves that have driven our growth and innovation. However, not all risks lead to success. 

Through all these experiences, we’ve gained invaluable insights that continue to shape the agency’s journey toward delivering exceptional results for our clients.

The Risks That Paid Off 

When it comes to clients, my team of experts and I prioritize a strategy-first approach. This methodology isn't just limited to client projects, but it is deeply embedded in every decision made within the agency. 

I always ask: What are our goals? What do we want to achieve, and what is the best way to do so? This process involves extensive time and planning, ensuring that each major change is thoughtfully considered. 

I value the input of my entire team. I believe that inclusive decision-making not only fosters a sense of ownership but also harnesses a diverse range of perspectives. I’ve found that this leads to more innovative and effective outcomes.

Taking the time to make thoughtful and calculated decisions has served me well since opening Advantage Marketing a decade ago. Here are seven risks I took to grow the agency into the powerhouse it is today:

1. Focusing on Multi-Platform Marketing Strategies

Media buying is a lost art and still highly relevant. It has become more complicated, and I found that businesses need an advocate to purchase it correctly. 

I left my role with another agency because systems were antiquated and there were services that we didn’t offer. I thought that was a mistake and an injustice to our clients. By focusing on multi-platform marketing strategies, the agency has been able to navigate the complexities of modern media buying effectively. 

This approach ensured that clients receive a well-rounded marketing strategy that leveraged the strengths of various platforms. Ultimately, this has led to better results and higher client satisfaction.

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2. Bringing on a Business Partner to Double Productivity

Managing an existing business while onboarding a business partner with her own additional business was challenging at first. Ultimately, it was worth it though. 

Amy Hoefer was such a strong sales rep and we had formed a friendship over the years. It was a natural decision to bring her on board as Vice-President and eventually as a co-owner. The combined expertise and resources allowed the agency to double its productivity and handle more clients efficiently. This strategic move also opened up new opportunities for growth and expansion, paving the way for long-term success.

Co-owners of Advantage marketing, Amy Hoefer (left) and Cori Kohlmeier (right).

3. Bringing Digital In-House

Digital marketing has become essential in a marketing campaign, and working with the best is crucial. That’s why the agency partners with Simpli.fi, a global demand-side platform that purchases digital marketing programmatically. 

Bringing digital in-house has provided the agency with greater control over our campaigns. This has improved efficiency and created the ability to offer clients cutting-edge digital marketing solutions.

4. Purchasing Another Agency to Double Agency Footprint

We were only in our 3rd year of business when we acquired another agency similar in size. Despite protocols still being fleshed out, the move significantly expanded the agency’s footprint and capabilities. The acquisition allowed us to tap into new markets, offer a broader range of services, and ultimately grow our client base. This acquisition was a pivotal moment in the agency’s growth.

5. Focusing on Client Social Media Presence

Many of my earlier clients worked in the agricultural industry. Convincing them of the benefits of social media ten years ago was a significant challenge. However, I saw the potential and pushed forward with a focus on enhancing their social media presence. This foresight has paid off as social media has become a critical tool for engagement and brand building.

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6. Sports Marketing

Advantage Marketing has actively been involved in Name, Image, and Likeness (NIL) and working with sports programs. The possibilities are infinite, and it adds another dimension to media buying and negotiations. 

This venture into sports marketing has opened up new revenue streams and allowed the agency to connect with a broader audience. It’s allowed us to showcase the versatility and adaptability of our marketing strategies.

7. Not Being Vertical-Specific

Many agencies focus on one industry, which can be easier from a production and facilitation standpoint. However, I didn’t want the agency to be vertical-specific. I believe working in a single vertical doesn’t necessarily lead to better work output. 

By diversifying our client base across various industries, we have been able to apply cross-industry insights and innovations. This has led to more creative and effective marketing solutions.

8. Expanding Graphic Design and Video Production Services

When Advantage Marketing first launched, the agency focused on core marketing services. We quickly realized the growing importance of an integrated approach that included graphic design and video production. 

Recognizing this, I made the bold move to expand the agency’s service offerings in these critical areas. We have been able to provide a comprehensive suite of marketing solutions to match with the ever-evolving needs of the digital landscape. Our clients have benefited from more cohesive and integrated campaigns, resulting in stronger brand identities and more effective marketing efforts.

Bold Moves That Didn’t Pan Out

While most of my calculated risks have led to remarkable growth and innovation for Advantage Marketing, some don’t quite hit the mark. From hiring missteps to strategic brand initiatives, these experiences have provided invaluable lessons that have shaped our approach and strengthened our resolve.

1. Hiring a Data Analyst Without Agency Experience

There have been several internal positions that just didn’t work out. One that sticks out is when we tried to hire a data analyst. The position required more agency experience and knowledge of digital marketing than we had initially anticipated. 

Instead, we contracted with a company to provide a stronger level of insight. This external partnership has worked out well and has provided the agency with the expertise needed without the internal struggle.

2. Starting a Separate Brand for Digital Services

The agency started another brand to solely focus on digital services. However, we found that more than one service goes hand in hand—creative with digital, media buying with digital, etc. We found that being one-dimensional was not in our wheelhouse.

The team quickly discovered that packaging services appropriately is key and have since integrated digital services back into the main brand to offer a more comprehensive approach.

3. Investing in Office Space

When I first started the agency, having an office setting was very important to me. However, over time, I discovered that clients did not care about the office space. In fact, the team was more productive working remotely, which saved the agency significantly on overhead costs. 

Office space is overrated. Once I realized having an office wasn’t necessary and something else worked better, we changed it. This move has allowed the Advantage Marketing team to focus more on client and staff needs.

Always Moving Forward

Each experience, whether a success or a setback, has provided invaluable insights and lessons. These stories of triumphs and missteps have shaped Advantage Marketing, making the agency more resilient and adaptable. 

I’m fortunate to have clients that made the move to Advantage Marketing with me and have continued to trust me with their marketing strategies. It’s important to not let small bumps in the road derail you from your big-picture goal. Embracing both the victories and the failures, I’ll continue to forge ahead with a strategic and fearless mindset, striving to achieve my goals and deliver exceptional results for my clients.