Lacie Edgeman is a Partner and VP of Finance at PrograMetrix. She has extensive experience in finance within the marketing and creative industry. Lacie prides herself in helping hold her agency to high standards while keeping their projects on budget without sacrificing vision or quality. She is on the show to share the importance of niching down in order to scale. She also explains the difference between growing and scaling and why both are important.
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3 Golden Nuggets Grow your profit margins with a niche. Lacie says without a niche, you're looking at 10% margins, but with a niche, it's 25%. With a specialization, revenue increases becoming more efficient, yielding a net profit increase. There is a difference between growing and scaling your agency. It's important to know the difference and know when it's time for each. Growing requires the investment of time and resources. Scaling means bringing in more revenue without additional expenses. Use your right project management tool to its full capability. It's one of the fastest and easiest ways to scale. Rather than just using your PM software for task management, you can automate things for efficiency. That provides true scale. Sponsors and Resources Verblio: Today's episode of the Smart Agency Masterclass is sponsored by Verblio. Check out Verblio.com/smartagency and get 50% off your first month of content creation. Our team loves using Verblio because of the ease in their process and their large pool of crowd-sourced writers.
Jason: [00:00:00] On this episode, I talk with an agency owner about the difference between growing your agency and scaling. And there's a big difference. And I think all of you will really like this. She comes from a finance background, she's a co-owner at an amazing agency. And so she gives us a really good perspective of what you need to do in order to scale your agency. So, enjoy.
Hey, welcome to the show.
Lacie: [00:00:30] Hi, nice to be here.
Jason: [00:00:00] Yeah, I'm excited to have you on and tell your guys' story. So tell us who you are and what do you do? Yeah, so we are PrograMetrix.
Lacie: [00:00:30] We are a PrograMetrix media buying agency and programmatic is such one of those terms that is a little bit confusing to people, but it's really just simply the automated buying of ad space.
So think about Hulu. The commercials you see on Hulu or Spotify, or even those display ads you see on forbes.com. And I am a partner here at the agency and I have a background in finance and operations. And I know we're going to be talking about niching today, which is very important. And my career path has been a little bit of a niche as well.
So I started out in a traditional creative shop. Moved into a B2B agency, then finally made my way to digital and then niched a little bit further into programmatic, which I'm very excited about. I really do feel like it's the future of advertising.
Jason: [00:01:31] Awesome. So tell us, how did you get started in the first agency?
Lacie: [00:01:35] What was that story? Yeah. So somebody took a chance on me. I think, uh, probably a lot of the viewers have nonlinear paths into marketing or were into advertising and mine was very similar. So I was actually in the construction industry and was getting my degree in finance and wanted to move to Austin, Texas, and had an agency that kind of just rolled the dice on me with my finance background and, uh, started working there.
And I just love, I love agency world. I think people either love it or hate it. And I just absolutely love it. Fast-paced, exciting, never a dull moment.
Jason: [00:02:14] That's awesome. So let's kind of jump into it a little bit about specialization. You know, a lot of people struggle with this because they feel that they're going to miss out. But you know, how did
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