So what is a KPI? KPI stands for Key Performance Indicator. There are many different types of KPIs – financial, operational, marketing, etc. Sure, financial statements are great, but they’re difficult to digest. KPIs are byte-sized metrics that you can use which indicate what’s going well (or not) in your business. Recently, we moved our …
Top 15 Financial KPIs for Tracking Your Marketing Agency Read More »
Here is a comprehensive guide to assessing and optimizing your agency’s profitability. Welcome to my Agency Profitability Audit Framework, an innovative system I recently unveiled in a webinar. Here, I’ll provide a brief overview of our discussion, but I assure you that you’ll want to register to watch the full presentation! You’re probably familiar with …
Introducing the Agency Profitability Audit Framework Read More »
Are you finding it hard to keep your employees around, or simply curious about what can keep your top talent employees at your agency for a long time? As a marketing or creative agency, you know that employee retention is key to the success of your agency. And while many factors contribute to keeping your …
The Three Fs of Agency Employee Retention: Finances, Friction, and Flexibility Read More »
In this blog post, we will explore some of the differences between nonprofit and for-profit accounting. It is beneficial to understand some of the areas in nonprofit accounting that differ from those in a for-profit company. The number of differences between the two is many. We will look at 5 of those areas which will …
What makes nonprofit accounting different from for-profit accounting? Read More »
In this blog post, we will explore the top 5 accounting problems we see in delivering accounting services to nonprofit organizations. Accounting departments, to some extent, for small for-profit businesses are a “nice to have.” When a for-profit entity has a robust accounting function it will help the decision-makers in the business to make more …
Top 5 Accounting Problems for Nonprofit Organizations Read More »
I’m dating myself, but when I was in college, online poker was becoming a “thing” and the World Series of Poker was gaining in popularity. Hence, I played a lot of poker in college. Poker financed most of my entertainment money in college, as well as most of my (now) wife’s engagement ring shortly thereafter. …
Yes, I understand “dumpster fire” is an overused term in pop culture. Honestly, the title allows me to use my favorite gif of all time, so I’m going with it. In this post, I am going to discuss some of the top accounting issues for creative and advertising agencies. This post was preempted by a …
What are the most common mistakes or “traps” agency owners fall into over time? Bad habits to avoid and positive alternatives? In other words, what are some marketing agency bad accounting and finance habits to avoid? The above is a question I received in a Facebook Group for marketing professionals earlier this week, and it’s …
3 Bad Habits For Marketing & Creative Agencies to Avoid Read More »
Increasing profits should be a primary financial concern for all businesses, including marketing agencies. According to industry benchmarking data, marketing agency averages a net profit margin somewhere between 6.0% and 12.0%, which means there’s plenty of room for growth. For the agencies we work with, generally the bogey is a 15.0% net margin. No agency …
A Guide to Agency Margins: What They Are and How to Increase Them Read More »
Marketing agencies often struggle with better managing working capital. This affects liquidity, operational efficiency and short-term finances.