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 »
Accounting often falls on the backburner of the many tasks it takes to operate a marketing agency. Here are 7 accounting mistakes that can affect profitability.
Marketing agencies often struggle with better managing working capital. This affects liquidity, operational efficiency and short-term finances.
Small business owners are always looking to save money on their tax bill, and marketing agency owners are no exception. One of the most common questions marketing agency clients ask, and that are often posed online is: “Can marketers take advantage of the QBI deduction?” The specifics of the QBI portion of the new tax …
Can Marketing Agency Owners Take Advantage of the QBI Deduction? Read More »