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 »
When it comes to improving your business, monetary infusions aren’t always feasible, especially during economic downturns like the COVID-19 shutdown. Don’t let that stop you from finding ways to improve your marketing agency. There are a variety of ways to improve your marketing or creative business without additional capital or expense. Our CPA firm uses …
How to grow a marketing agency without additional capital Read More »
Think beyond the big binder operations manual – creating an interactive knowledge base for employees and clients can be profitable in many ways From the South Carolina Association for CPAs There are several important reasons why every CPA firm should create its own operations manual. Among their essential functions, the first is that it compiles …
By understanding how potential clients define value, you can steadily target your audience growth strategies From South Carolina CPA ReportSC Association for CPAs Because I travel to so many financial conferences and serve on an assortment of professional committees, I’m fortunate to talk to a lot of CPA firm owners. One common challenge I hear …
Know, Like and Trust These Digital Marketing Metrics for CPAs Read More »
Big enough to grow. Small enough to delight customers. After working in the agency space for 12+ years, I’ve found that marketing agency size is a key factor for determining its success or failure. With the industry experiencing significant turbulence in the last decade, many marketers are unsure of how fast they should attempt to …
Many small to mid-size marketing agencies struggle with reasonable compensation — not only for their employees but for themselves as well. If your agency is taxed as an S-Corp, the IRS says you must pay yourself a “reasonable compensation”. The lower your salary is, the less employment taxes you will pay. Therefore, the incentive for …
Why marketing agencies should pay attention to reasonable salaries Read More »
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 …
This time last year, I decided to shake up my marketing agency. I had just returned from HubSpot’s INBOUND 18 marketing conference. I spent four days attending tactical break-out sessions on how to better run my agency and listening to inspirational celebrity speakers. The four-day think tank occurs in September every year in Boston, where …
Takeaways from HubSpot’s INBOUND 2019 conference Read More »
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 »