Frequently Asked Questions (FAQ)
What do you mean by Outsourced CMO?
Agencies can grow a ton without any marketing help - millions in revenue solely from referrals. We come in as the Chief Marketing Officer, and help agencies grow through other channels. Rather than finding an executive and paying him 150k+ per year, then having them build a team, or paying a bunch of different vendors and trying to deal with that, we act as the all in one team, either strategically helping set KPIs and recruiting an internal team, or doing the implementation and growing the number of leads our clients get.
We can help grow number of contacts, forge relationships with more enterprise companies, grow your number of referrals considerably, review your pricing to help you close at higher rates. Look through sales decks and proposals, etc - anything related to growing your company’s revenue - we don’t focus on creating the perfect slogan or business cards, but we do write headlines that turn into clients.
How many marketing vendors do agencies usually work with?
Depends, we do most of our marketing implementation internal. We used to rely on other vendors, but found that most of them don’t understand agency lead generation (even if they say that they do). Now we have an internal team of (11) people from agency backgrounds, each with case studies related to their specific achievements in the agency space. That means we could either build a marketing team for you or, if you’re working with other vendors or have an internal team, we can help manage them in order to improve their effectiveness - to help them focus more on ROI.
Can you elaborate on remarketing/retargeting?
The industry average conversion rate for agencies is 3%. That means only 3% of the traffic that hits your website is ever going to fill out the contact form. Retargeting means putting a pixel into the header of your website that tracks everyone that visits your site that doesn’t fill out the form, and targets them with advertisements that follow them around the web. Retargeting is a cheap way to quickly double your number of leads, the fastest of anything we offer, though you have to be willing to invest a few thousand in advertising up from (it’ll cost around $50-$100 per contact). We recommend this for all clients that have over 3,000 visitors per month to the site.
What’s the typical marketing budget like for a small agency, growing agency, scaling agency?
All of our engagements start with an $8,500 review. Normally smaller agencies invest between 5-7k per month in services, growing agencies invest 15k and if an agency really wants to scale we recommend investing 10% of your revenue in marketing initiatives over a 13 month period.
What other directories do we invest in besides Clutch?
Depends on the type of company, if you're hubspot partners we optimize for that, squarespace has a directory, and so does shopify. 10 Best Design, TopInteractiveAgencies, VentureApp, SEO optimized LinkedIn posts that we know work, quora answers, Dribbble, Behance, and more. Google “top app developers (city)” and click on any directories that pop up - those are the ones we optimize for.
Which ones can we help you rank on without sponsorships?
We recommend an initial sponsorship budget of $2,000 per month over 6 months in order to see results with directories.
What are the industry standards for lead conversion from the channels we’ve listed on our website?
The only industry standard we look at is the number of leads committed per month which is usually between 2-3% of traffic before we start, and normally for smaller agencies we’re able to multiply their leads by 2-3x in 3 months, for larger agencies (8,000 hits a month or more) the growth is more incremental, but we can add hundreds of leads, and our most successful clients have grown their revenue by over over 16% based on what we did for them - equalling millions in closed business.
What are some general stats you think are important for us to know when it comes to understanding agencies and their founders.
Most agencies get 75% or more of their leads from referrals
In most industries companies spend 10% of their revenue on marketing, but in the agency business that number is closer to zero (not including spend on the sales team - most of which focus exclusively on inbound leads).
Who are our biggest competitors/ do we have any that are agency focused like us?
I haven’t found any other agencies that focus specifically on Agency marketing. Our founder was director of marketing at a growing agency in NYC, and was offered a marketing budget per month, so he went out and hired as many vendors as he could find, all saying that they understood the agency business, and they all failed one by one. So he decided to build a team entirely focused on agency marketing - marketing for mobile app companies, branding, UX/UI and advertising.
Why the name Experiment27?
Experiment refers to the marketing experiments we run - you have to try a bunch of stuff to see what sticks, and 27 is a random number that speaks to the fact that you never know which of the marketing experiments is going to show a huge return.
What do you typically charge for your services?
Engagements start at $8,500 for the first month of research before moving into $6,000 - $16,000 per month for the services above plus passthrough costs for any ad spend or vendor fees. Six month minimum on all engagements.