Tired of losing an account every time a client appointed a new chief marketing officer, MichaelAaron Flicker spent 2018 building a plan to insulate his agency from the uncertain nature of client project relationships.
“I realized that our financial success was not our own,” said the founder and president of XenoPsi Ventures, a full-service strategic marketing and advertising agency. “I really wanted to take control of our future.”
So Flicker decided to market his own product: Compression socks, inspired by the swollen legs he and his wife experienced from flying for their bi-coastal, long-distance relationship. In 2021, he launched Wellow, a line of premium bamboo compression socks. First-year sales exceeded his $1 million goal by five times, Flicker said.
But most importantly, it accomplished his goal to make his agency less dependent on client revenue. XenoPsi’s revenue from non-traditional agencies services, including intellectual property it licenses to companies, such as its Benchmark beverage industry insights tool, along with products like Wellow, accounted for almost 40% of topline revenue in 2022.