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Journey to $100 Million

Business & Economics Podcasts

Accelerate your entrepreneurial journey by learning from our mistakes instead of making them yourself. Join Erik J. Olson and Kevin Daisey, the founders of Array Digital, through their ups and downs and lessons learned as they grow their digital marketing agency to $100 million in revenue. In each daily episode they'll discuss what's working now, and what's not. They'll share entrepreneurial and marketing tips and tricks picked up while becoming a dominant player in the ever changing digital marketing industry.

Accelerate your entrepreneurial journey by learning from our mistakes instead of making them yourself. Join Erik J. Olson and Kevin Daisey, the founders of Array Digital, through their ups and downs and lessons learned as they grow their digital marketing agency to $100 million in revenue. In each daily episode they'll discuss what's working now, and what's not. They'll share entrepreneurial and marketing tips and tricks picked up while becoming a dominant player in the ever changing digital marketing industry.

Location:

United States

Description:

Accelerate your entrepreneurial journey by learning from our mistakes instead of making them yourself. Join Erik J. Olson and Kevin Daisey, the founders of Array Digital, through their ups and downs and lessons learned as they grow their digital marketing agency to $100 million in revenue. In each daily episode they'll discuss what's working now, and what's not. They'll share entrepreneurial and marketing tips and tricks picked up while becoming a dominant player in the ever changing digital marketing industry.

Language:

English

Contact:

7573333021


Episodes

Wasting $10,000 on Print Advertising

5/29/2020
In Erik’s career, there has been a couple of times when he’s put good money into newspaper advertising and it yielded nothing. The first time was when he was helping his wife with her cake bakery. They would offer coupons and he would see those coupons coming back so it seemed that people were actually reading it. Then he decided to spend $250 for an ad in the Sunday newspaper and NO ONE brought the ad in to redeem their free cupcake. It was a complete waste of money. Erik then did it again...

Duration:00:05:04

Kickoff Meetings

5/28/2020
Whenever we sign a new client we have an on-boarding process that we stick to. In the past, before we implemented a formal onboarding process, we would often forget things or things would be left out. We learned that a few onboarding steps were crucial to our client’s success and now they make up an important part of our process. One of those steps is a kickoff meeting. This is a meeting that takes place between our new client’s primary stakeholders, our operations team, and the account...

Duration:00:04:36

What a client wants versus what they need

5/27/2020
Sometimes a client will ask us to do something they want even if it's not something they need. For instance, a client may ask us to add a press release to their website or social media sites when someone within their company gets a promotion. It may get them some attention, it may create some buzz on the employee’s social media sites, but more than likely that will not turn into any new business for them or any new leads. If they want us to create the press release or article for them, and...

Duration:00:04:17

How Erik Uses Quora

5/26/2020
Contrary to what you might think, you should not always be creating new content. It takes a lot of time and effort to always create new content. You have to think of a topic, research it, create the content, and edit it. It's a much better use of time to constantly find ways to repurpose existing content. This podcast episode is an example of that. Erik is recording it as an audio file, and it will air on the podcast. It will then be written up as a summary of the episode (the one you’re...

Duration:00:04:23

The Start Of Array - Target Market Insights

5/25/2020
Three years ago when Erik started working with Kevin, Erik was doing custom software development while Kevin was building websites. There wasn’t much overlap between the two but both realized they could benefit from having the other’s service. They were going to join and do this but have digital marketing as an add-on service by hiring a digital marketing manager. Then Erik started learning absolutely everything he could about digital marketing for a solid year so they started to transition...

Duration:00:03:38

KPIs for Every Employee

5/24/2020
Every Wednesday we go over company KPIs. That stands for Key Performance Indicators. When Erik first came up with the idea to track KPIs he did so by himself, for numbers he felt reflected the health of the business. Over time those KPIs have changed, and the way we track them has changed as well. We now track high level data every week, like: -Monthly recurring revenue -Lost revenue -New revenue -New deals -Deliverables -Net Promoter Score (NPS) Lower level data, like SEO, social media, and...

Duration:00:05:36

Qualify Your Prospects

5/23/2020
Whenever we get a new lead or a referral one of the first things we do is qualify them. This entails doing a little research on their company to find things out like how long they've been in business, how big or small they are, and if they are in a good position to grow their business. A lot of these things come to light during the 15-minute call that we schedule with every new prospect, but we also do our own due diligence. Not everyone is a good fit; we want to go after the clients that...

Duration:00:15:56

Don't meet for coffee. Meet at Marketers Anonymous.

5/22/2020
Every day, Erik receives multiple connection requests on LinkedIn by business people who help agency owners get more clients. He also often gets invited out to lunch or coffee by some of them. In the past he used to accept many of these invitations. When he was just getting started in business he had no real network and he needed a way to meet as many business people in the area. These days he accepts much fewer requests. With the years he came to realize how much time he was spending at...

Duration:00:04:10

The Habit of Doing the Same Things Twice

5/21/2020
This happens all the time: We do something whether it be making a document or writing down processes and ideas. Then we get sidetracked with new sales, new initiatives, new clients and time goes by before we start doing the same task again. Then we stumble across that old document where we’d already done all the work but we failed to put it into action. We are working towards ways to mitigate this issue that we’ve run into over and over again. — Erik J. Olson is an award-winning digital...

Duration:00:03:32

Rethinking the Client Obsession Core Value

5/20/2020
We have a set of core values here that change on a somewhat regular basis. We used to have a core value ‘client obsession’ which Erik lifted straight from Amazon. We had that core value and would talk about it a lot but he realized it wasn’t exactly right. We do a lot for our clients but we don’t obsess over them to the point that we’ll let them step on us. We take pride in our work but we won’t let people step on us. We’ve resigned accounts in the past that weren’t quite a fit for us....

Duration:00:04:36

It's Time to Work ON Your Business

5/19/2020
With COVID-19 and with most people being at home, there should be some extra time in your schedule. It’s the perfect time to work on your business if you’re still in business. Whether it’s new processes, pivots you’re making, things you’ve adapted to, new industries you want to target, now is the time to figure out how you’re going to make that work. Rather than getting down and worrying or sitting back and waiting for the worst to happen, it’s up to you to determine how you are going to...

Duration:00:03:26

Book review: Chasing Black Unicorns

5/18/2020
Erik recently received an email from a Polish author named Marek Zmyslowski. He asked Erik if he would read his business novel and Erik agreed. The book is unlike most business books that Erik reads. He typically reads how-to books and he has a clear objective on what he wants to get out of the book. This book was different. It was much more of a novel, with a detailed storyline that explained how the author got into a particular business and why he made all the decisions that he did. To...

Duration:00:03:41

Some Industries Are Doing Well

5/17/2020
There are several industries that are doing very well right now. IT companies and telecommunication companies are super busy these days. Many people are working from home and need extra bandwidth and the infrastructure to be able to do so. Things like telemedicine and telehealth are also keeping telecommunication companies hiring more people as fast as they can. We have a telecommunications client that is doing very well and is having a hard time keeping up with the demand for services....

Duration:00:04:24

8:30 AM Monday Manager Meeting

5/16/2020
Believe it or not, Erik loves having meetings but they need to be very focused and short. The shorter, the better. He likes to have them be very specific preferably with an agenda. One of these meetings is the 8:30 AM management meetings that the 5 managers have every Monday and now Thursday of every week. There’s a very loose agenda and things that have not been closed out or issues that seem to be occurring are generally the topics for discussion. Generally, Erik runs the meetings but he...

Duration:00:05:10

When to Turn Down Work

5/15/2020
Here are a few reasons we’ve turned down business from a qualified prospect: 1. When a client’s expectations far exceed what we can deliver. 2. If a client can’t agree to a 12-month, we try to negotiate a minimum of a 6-month agreement. 3. If a client wants a discount. 4. If a business wants us to market and advertise for a service or product that they can barely explain themselves, we don’t understand, and it’s hard to define a target market. We’re in this for the long haul and not the...

Duration:00:05:07

In-person Meetings

5/14/2020
For a long time we were really focused on having in-person meetings. When it came to pitching to a new client or onboarding them, we would spend a lot of time planning in-person meetings with them. Now that we are a couple of months into the pandemic, and meeting people face-to-face is not possible, we are starting to rethink the idea of in-person meetings. Granted, it's usually better when you can get in front of someone, especially when you are trying to sell them on your services....

Duration:00:20:07

The Power Of The 15-minute Call

5/13/2020
When selling to new clients we always start with one important step: The 15-minute call. The 15-minute call is our way to feel out a potential client without investing too much of our time or wasting there's in case we're not a fit. During this call we try to accomplish a couple of things. We try to find out if they are looking to grow, whether they have a budget for our type of services, and how long they've been in business. We have found our ideal clients have been in business three to...

Duration:00:04:36

Align Your Hiring Process With Your Core Values

5/12/2020
Core values are super important to an organization. At Array Digital we have a set of core values that we live by. These core values have changed over time, but the general ideas have remained the same. We hire, fire, promote, and give recognition to our employees based on our core values. Currently they are: honesty, quality, urgency, winning, and passion. When we are getting ready to hire someone new we look at how these qualities are demonstrated by the new hire. If we don't feel they...

Duration:00:04:17

We Lost $30,000 A Month In Revenue

5/11/2020
We recently lost about $30,000 a month in revenue. When the pandemic hit, and businesses were forced to shut down, we had a few clients cancel our services temporarily while others cancelled permanently. Right away our biggest client called us to tell us that they would have to stop advertising with us for the time being. It was a huge hit to our monthly revenue but we managed to pull through. Thankfully we have been able to bring on new clients in the last several weeks that have helped to...

Duration:00:19:36

Paycheck Protection Program

5/10/2020
As part of the coronavirus response from the federal government, they passed an act which has appropriation for small businesses funding upwards of 350 billion dollars. The program is called Paycheck Protection Program, or PPP for short. If you own a business you’ve probably heard of this plan or even tried to apply. It’s a way to keep employees employed so the whole system doesn’t crumble. Erik talks about his initial confusion with the program and the importance of having a relationship...

Duration:00:06:51