The single biggest expense most companies incur is the cost of acquiring the customer. Every other move increases your customer’s immediate and lifetime value.
As a patient talent manager or a shrewd talent and literary agency (TLA) owner you could choose to make no profit until you’ve secured your talent and showed them the easiest way to return to you at any given time.
If you manage to find creative ways to not make a living from your core offer but rather assidiously convert leads into paying customers — sometimes at the expense of your profit margin — you could become unstoppable.
You could take everything you make from the Core Offer and reinvest it to acquire more customers. You build a system in which you can spend more to acquire more customers than your competitors.
Keli Lee sharing wisdom as Head of Casting and Talent for ABC Entertainment:
Every night in New York I would see a live theater production or a comedy show. I would look for outstanding talent, bring them in for auditions, and even if the actor wasn’t cast, I would bank the information. You want a list of people who you know are good and draw from that talent pool when the right character comes up.
Another way to boost your success as a talent and literary agency manager/owner is not to think of yourself as an agent. Train yourself to employ one of theseven heuristic methods that help you think clearly: purposefully think in terms of broader definitions and see what insights you’ll gain from the perimeters. Take Irving Paul “Swifty” Lazar who described himself as a “dealmaker” and as such didn’t feel constrained by the normal rules of talent management of his time. Lazar was famous for his swiftness in making deals for any talent, not limited to his own clients.
For those of you scared by the prospect of alienating TLA colleagues, most of the times you can always work out some kind of an amicable arrangement with whoever you initially cut out of the deal.
Sometimes he takes his ten per cent from the buyer, sometimes from the seller—sometimes, it was rumored in the old days, from both. This is exactly how creative TLA manager Lazar helped himself test the waters and check the market value of a best-selling author.
Most creative businesses fail because they either…
- ..fail to offer a desired “After” state (The offer sucks)
- ..fail to articulate the movement from “Before” to “After” (their marketing is mediocre)
Great TLA managers speak to how a talent will FEEL, how their AVERAGE DAY will change and how their STATUS will elevate.
Consider some of these marketing tips:
Aim for a gut reaction, and pay special attention to how your materials look when scanned quickly (no one has the time or inclination to do that anymore).
Some 90 % of all data that our brains process is visual. Use images—but make them special.
We are wired from birth to recognize and prefer human faces. Use real people in your talent marketing materials.
62 to 90 % of our feeling about a product is determined by color alone. Be mindful about colors.
We have an innate desire to conform. Remove anxiety, signal belonging and build credibility with an audience by using endorsements from well-known influencers in your market; customer testimonials woven into the fabric of your website.